Nigeria’s Debt Management Office allotted a total of N1.56 trillion through three Federal Government of Nigeria bond offerings at its August 17, 2026 auction, following bids worth N1.73 trillion from investors.

According to the DMO’s auction results, the amount allotted significantly exceeded the initial offer, driven by strong demand under the non-competitive window.

The settlement for the transactions is scheduled for Wednesday, August 19.

The auction offered a combined N1.10 trillion across the reopened 22.60% FGN January 2035, 16.2499 per cent FGN April 2037 and 15.45 per cent FGN June 2038 bonds. The auction recorded strong demand for long-dated government securities, with the 15.45 per cent FGN June 2038 bond receiving the highest subscription and allocation.

The DMO offered a combined N1.1 trillion across the three instruments, comprising N250 billion for the 22.60 per cent FGN January 2035 bond, N100 billion for the 16.2499 per cent FGN April 2037 bond and N750 billion for the 15.45 per cent FGN June 2038 bond.

Investors submitted 595 bids valued at approximately N1.73 trillion, with 226 bids eventually successful.

The 22.60 per cent FGN January 2035 bond received 199 bids worth N513.61 billion, of which 31 were successful.

The DMO allotted N64.13 billion to competitive bidders and an additional N10 billion through the non-competitive window, at a marginal rate of 17.15 per cent.

The 16.2499% FGN April 2037 bond attracted 171 bids valued at N392.48 billion, with 34 bids successful. The DMO allotted N110.01 billion to successful market bidders at a marginal rate of 17.19%, with no allocation made through the non-competitive window.

The 15.45 per cent FGN June 2038 bond recorded the strongest demand, attracting 225 bids worth N821.32 billion, of which 161 were successful.

The DMO allotted N631.02 billion to competitive bidders and a further N742.29 billion through the non-competitive window at a marginal rate of 17.79 per cent bringing total allotment for the instrument to more than N1.37 trillion.

Across the three maturities, the DMO accepted 226 of the 595 bids submitted.

The original coupon rates of 22.60 per cent, 16.2499 per cent and 15.45 per cent were retained, while successful bids were priced at higher marginal rates.