The Debt Management Office, acting on behalf of the Federal Government, has announced plans to raise up to N1.2 trillion through the reopening of three Federal Government of Nigeria bonds.
The plan was disclosed in an Offer Circular issued by the DMO on Tuesday, July 14, 2026.
According to the circular, the bond auction is scheduled for July 20, 2026, with settlement of successful bids set for July 22, 2026.
The DMO is offering N400 billion through each of the three bond instruments, bringing the total amount on offer to N1.2 trillion.
The three bond instruments on offer are:
N400 billion – 22.60 per cent FGN January 2035 Bond (10-year reopening)
N400 billion – 15.45 per cent FGN June 2038 Bond (15-year reopening)
N400 billion – 16.2499 per cent FGN April 2037 Bond (20-year reopening)
The issuance is being conducted under the provisions of the Debt Management Office (Establishment) Act, 2003, and the Local Loans (Registered Stock and Securities) Act.
The bonds will be issued at N1,000 per unit, with a minimum subscription of N50.001 million and additional investments accepted in multiples of N1,000 thereafter.
As with previous bond reopenings, successful bidders will pay a price determined by the yield-to-maturity that clears the auction, in addition to any accrued interest on the instruments.
Interest will be paid semi-annually over the life of the bonds, while the principal will be repaid in full at maturity.
The DMO stated that the bonds are backed by the full faith and credit of the Federal Government of Nigeria and constitute a charge on the general assets of the federation.
The securities also enjoy a range of regulatory and tax incentives.
According to the circular, the bonds qualify as trustee investments under the Trustee Investment Act and are recognised as government securities for tax-exempt investment purposes under the Company Income Tax Act and the Personal Income Tax Act.
The DMO added that the instruments are also eligible investments for pension funds and other institutional investors.
