The Debt Management Office (DMO) has announced that it allotted a total of ₦3.83 billion in its latest savings bond offer for November 2025. This comprises two tenors: a 2-year bond maturing in November 2027 and a 3-year bond maturing in November 2028.
The 2-year bond, carrying a coupon rate of 13.565%, attracted successful subscriptions totalling ₦958.416 million across 1,866 investors.
Meanwhile, the 3-year bond, with a coupon of 14.565%, had total allotments of ₦2.874 billion from 2,003 investors. Combined, these figures reflect solid interest from retail investors in government securities.
These bonds were offered from 3–7 November 2025, with settlement on 12 November 2025. The 2-year bond matures on 12 November 2027, while the 3-year bond matures on 12 November 2028. Interest payments will be made quarterly, on the 12th of February, May, August and November.
Notably, the total amount allotted in November, ₦3.83 billion, is slightly lower than the ₦3.96 billion that was allotted in the October 2025 offering. This suggests that while investor appetite remains strong, it may be moderating slightly or supply dynamics may have shifted.
These savings bonds form part of the federal government’s retail-debt strategy, introduced in 2017, which is designed to deepen the domestic securities market, widen financial inclusion by giving retail investors access to secure government debt, and create more liquid instruments in the market. These bonds qualify under the Trustee Investment Act and benefit from tax-exempt status in certain contexts; they are listed on the Nigerian Exchange Limited (NGX), giving investors secondary-market liquidity.
By raising ₦3.83 billion in retail savings bonds, the government strengthens its domestic funding base, reducing reliance on external borrowing and shielding the economy somewhat from currency-driven risks. The competitive coupon rates also channel household savings into productive debt instruments, thereby supporting financial-market development and lowering pressure for inflation-driven interest rate hikes.
