Nigeria Debt Management Office to offer N1.75tn in government bonds

The Nigerian Debt Management Office (DMO) is preparing to open N1.75 trillion in Federal Government of Nigeria (FGN) bonds for investor subscription. This monthly auction, scheduled for the first of the fourth quarter of 2026, aims to finance the government budget deficit. The auction will include the reopening of 10-year bonds from February 2034 and September 2036, as well as a 15-year bond from June 2038.

In a separate recent Treasury bills auction conducted by the Central Bank of Nigeria on behalf of the Federal Government, the DMO accepted only N269.06 billion out of N1.032 trillion in submitted bids. This resulted in the rejection of N763 billion in bids. During this auction, the one-year borrowing rate rose for the first time since August, with the 364-day T-bill stop rate increasing to 15.90 percent from 15.85 percent.