The Federal Government of Nigeria plans to raise N750 billion through bond re-opening auctions scheduled for March 30, 2026.
The Debt Management Office (DMO) disclosed the offer on Wednesday, noting that the settlement is set for April 1, 2026.
According to DMO, the offer consists of a N250 billion 5-year bond at a 17.94 per cent coupon maturing in August 2030, a N200 billion 7-year bond at 17.95 per cent maturing in June 2032, and a N300 billion 10-year bond offering 19.89 per cent maturing in May 2033.
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It said it is targeted at large investors, with a minimum subscription of N50,001,000 and additional investments in multiples of N1,000.
The DMO said successful bidders will pay based on the yield-to-maturity that clears the auction, along with any accrued interest.
It said interest payments will be made semiannually, while the principal will be repaid in a lump sum at maturity.
FGN bonds are backed by the full faith and credit of the federal government and secured against national assets, making them highly reliable.
The bonds are also tax-exempt under the Company Income Tax Act and Personal Income Tax Act for eligible investors, including pension funds.
The bonds are listed on the Nigerian Exchange Limited and the FMDQ OTC Securities Exchange, qualify as liquid assets for banks, and are recognised as eligible trustee investments under the Trustee Investment Act.
According to the debt office, investors cannot subscribe directly through the DMO but must go through Primary Dealer Market Makers, including Access Bank, First Bank of Nigeria, United Bank for Africa, Zenith Bank, and Stanbic IBTC Bank.
The DMO added that it retains the final authority on allotments and notes that the re-openings provide investors with access to secure, liquid instruments offering competitive returns.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
