The Debt Management Office has unveiled a new auction offering, featuring the re-opening of two existing Federal Government Bonds with a total value of N460 billion.
Set for November 24, 2025, the auction aims to bolster domestic borrowing, improve market liquidity, and provide budgetary support through long-term, low-risk securities.
As outlined in the official offer circular released on Tuesday, the DMO will accept bids for:
N230,000,000,000.00 – 17.945 per cent FGN AUG 2030 (5-Year Re-opening)
N230,000,000,000.00 – 17.95 per cent FGN JUNE 2032 (7-Year Re-opening)
The DMO stated that successful bidders are expected to settle on November 26, 2025.
The circular also specifies that each unit is priced at N1,000, with a minimum subscription of N50,001,000, and additional subscriptions must be made in multiples of N1,000.
Since both offerings are re-openings of existing bonds, the DMO noted that investors will not be bidding on new coupon rates.
Instead, prices will be set by the market, based on the yield-to-maturity that clears the auction, along with any accrued interest on the bonds.
Interest is payable semi-annually, providing predictable cash flows—making these instruments particularly appealing to pension funds, insurance companies, fund managers, and other institutional investors seeking stable medium- to long-term returns.
Both bonds will be redeemed via bullet repayment at their respective maturity dates, ensuring investors receive the full principal in a single payment.
Like all FGN Bonds, these instruments come with substantial benefits and legal protections under Nigerian law.
The bonds are listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange, providing transparency, secondary market liquidity, and efficient price discovery.
They also qualify as liquid assets for banks’ liquidity ratio calculations, increasing their appeal to deposit money banks.
Crucially, the instruments are fully backed by the Federal Government of Nigeria and secured against the nation’s general assets, offering the highest level of sovereign security in the domestic market.
