The Debt Management Office (DMO) has revealed plans to raise ₦900 billion through the reopening of three Federal Government of Nigeria (FGN) bonds at its January 2026 bond auction.
The auction is scheduled for January 26, 2026, with settlement expected on January 28, 2026, DMO stated in a circular released on Monday.
The offer spans medium- and long-term maturities, giving investors exposure across different tenors.
According to the DMO, the government is seeking ₦300 billion from the 18.50 per cent FGN February 2031 bond, ₦400 billion from the 19.00 per cent FGN February 2034 bond, and ₦200 billion from the 22.60 per cent FGN January 2035 bond.
Each bond is priced at ₦1,000 per unit, with a minimum subscription of ₦50,001,000, and additional subscriptions in multiples of ₦1,000.
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Coupon rates on the reopened bonds are fixed, while successful bidders will pay a price determined by the yield-to-maturity that clears the auction volume, plus any accrued interest.
It stated that interest payments will be made semi-annually, and the principal will be repaid in full at maturity under a bullet repayment structure.
Pinnacle Daily reports that reopening existing bonds allows the government to raise funds through instruments with established coupon rates, providing pricing certainty for investors while lowering the administrative costs associated with issuing new securities.
The January auction forms part of the government’s broader domestic borrowing programme, aimed at financing budgetary obligations, deepening the domestic debt market, and offering investors stable, long-term investment options.
DMO data show that total bond allotments in 2025 amounted to approximately ₦5.12 trillion, reflecting strong investor participation and sustained demand for government securities in the domestic market.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
