The Debt Management Office on behalf of the Federal Government of Nigeria, is set to raise N700 billion through a Federal Government Bond auction scheduled for Monday, April 27, 2026.

This was disclosed in an official offer circular issued to Primary Dealer Market Makers, which outlined the instruments on offer and the terms of the auction.

The bond sale forms part of the government’s domestic borrowing programme designed to finance budgetary requirements and support public debt management.

The offer circular shows that the Federal Government will raise the N700 billion through the re-opening of three existing bonds across different maturities.

The auction will be conducted via a competitive bidding process, with settlement set for April 29, 2026.

Under the offer circular, the Federal Government will raise the N700 billion through re-openings of three existing bonds across different maturities:

N300 billion will be offered in the 17.945 per cent FGN AUG 2030 (5-year re-opening)

N100 billion will be offered in the 17.95 per cent FGN JUN 2032 (7-year re-opening)

N300 billion will be offered in the 22.60 per cent FGN JAN 2035 (10-year re-opening)

Successful bidders will pay a price determined by the yield-to-maturity that clears the auction, along with any accrued interest.

Subscriptions are priced at N1,000 per unit, with a minimum investment of N50.001 million and additional investments in multiples of N1,000.

Interest is payable semi-annually, while the principal is repaid in full at maturity.

Monday’s auction is taking place against a backdrop of elevated yields in the fixed-income market and continued liquidity mop-up operations by the Central Bank of Nigeria.

Federal Government of Nigeria fixed-income securities have consistently attracted strong investor demand, as market participants seek relatively low-risk instruments with attractive returns.

The longest-dated instrument in the offer, the 2035 bond, carries the highest coupon rate at 22.60 per cent.