The Debt Management Office (DMO) has officially launched the subscription window for the December 2025 offering of the FGN Savings Bond. According to the published offer circular, applications opened on December 1 and will close on December 5, with settlement scheduled for December 10.
The offer includes two bond tenors:
A 2-Year bond maturing December 10, 2027 at 12.838% per annum.
A 3-Year bond maturing December 10, 2028 at 13.838% per annum.
Each unit is sold at ₦1,000, with a minimum subscription of ₦5,000 and further purchases allowed in multiples of ₦1,000, up to a maximum of ₦50 million per investor.
Interest payments are made quarterly (March, June, September, and December) and the principal is redeemed in full (bullet payment) when the bond matures.
The FGN Savings Bond remains one of the safest investment vehicles in Nigeria’s domestic debt market: it is backed by the full faith and credit of the Federal Government of Nigeria, qualifies as a security eligible under the Trustee Investment Act, and enjoys tax-exempt status for pension funds and other institutional investors under the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA).
With Nigeria’s domestic borrowing already exceeding projected limits by about ₦4.55 trillion in 2025, the December bond offer underscores continued reliance on internal debt markets, raising concerns about long-term debt sustainability even as the government seeks to deepen domestic capital markets and fund recurring budget deficits.
