The Debt Management Office plans to raise N5.75tn through Federal Government of Nigeria bonds in the final quarter of 2026, extending its borrowing programme after bond allotments more than doubled in the first nine months of the year.

According to the DMO’s provisional issuance calendar, the bond auctions are scheduled for October 19, November 16 and December 14.

The government plans to offer N1.75tn in October, followed by N2tn in November and another N2tn in December.

The proposed issuance follows the allotment of N7.15tn in government bonds between January and September 2026, more than double the N3.48tn allotted in the corresponding period of 2025.

The latest borrowing plan will add to the Federal Government’s domestic financing activities amid a continued rise in Nigeria’s public debt.

The fourth-quarter programme will focus on three existing Federal Government of Nigeria bonds maturing in February 2034, September 2036 and June 2038.

The February 2034 bond, which carries a coupon rate of 19 per cent, will have N500bn offered at each of the three scheduled auctions.

This will bring the total planned issuance of the bond to N1.5tn over the three auctions.

The September 2036 bond, which carries a coupon rate of 16.79 per cent, will account for the largest share of the programme. The DMO plans to offer N800bn in October, followed by N1tn in November and another N1tn in December, bringing the total planned issuance to N2.8tn for the quarter.

For the June 2038 bond, which has a coupon rate of 15.45 per cent, the DMO plans to offer N450bn in October and N500bn in each of the following two months. This will bring the total planned issuance under the instrument to N1.45tn.

The three bonds will collectively account for the entire N5.75tn issuance target for the fourth quarter of 2026.

The DMO noted that the issuance calendar is provisional and may be adjusted at short notice.

The planned fourth-quarter sales follow a significant increase in government bond allotments during the first nine months of 2026.

Between January and September, the Federal Government allotted N7.15tn in bonds, representing a 106 per cent increase from the N3.48tn recorded in the corresponding period of 2025.