The Debt Management Office (DMO) has announced plans to auction ₦700 billion worth of Federal Government of Nigeria (FGN) bonds in the April bond auction.
In a circular released on Wednesday, the agency said the bonds will open for subscription on April 27, with settlement scheduled for April 29, 2026. The offering forms part of the government’s strategy to finance budgetary obligations and support public expenditure.
The auction comprises three instruments across different maturities. These include ₦300 billion in a five-year bond maturing in August 2030 at 17.98 percent, ₦100 billion in a seven-year bond maturing in June 2032 at 17.95 percent, and another ₦300 billion in a 10-year bond maturing in January 2035 at 22.60 percent. According to the DMO, the bonds will be issued via auction, with successful bidders paying based on their yield-to-maturity bids, alongside any accrued interest.The minimum subscription is set at ₦50,001,000, with additional investments required in multiples of ₦1,000.
In 2026, the Federal Government, through the DMO, has borrowed ₦2.69 trillion through bonds. Combined with the ₦4.86 trillion borrowed through treasury bills, it shows that the Federal Government’s fiscal policy is tied to domestic borrowing even as well as foreign borrowing.
