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4 clusters · 14 sources · 30 days · First seen about 1 month ago · Last updated 10 days ago

Nigeria domestic government bond market activity

Overview

In 2026, the Nigerian Federal Government significantly increased its domestic borrowing through the bond market. During the first nine months of the year, the Debt Management Office (DMO) allotted ₦7.15 trillion in FGN bonds, a 106 per cent increase compared to the ₦3.48 trillion allotted during the same period in 2025.

As the fourth quarter of 2026 begins, the DMO is moving to meet its target of raising ₦5.75 trillion through bond issuances. An auction scheduled for October 19, 2026, will offer ₦1.75 trillion in reopened FGN bonds. This offering includes ₦500 billion in 10-year bonds at 19 per cent, ₦800 billion in 10-year bonds at 16.79 per cent, and ₦450 billion in 15-year bonds at 15.45 per cent. These instruments include the reopening of 10-year bonds from February 2034 and September 2036, alongside a 15-year bond from June 2038.

Parallel to bond market activity, recent Treasury bills auctions conducted by the Central Bank of Nigeria on behalf of the Federal Government showed a tightening of credit; the DMO accepted only ₦269.06 billion out of ₦1.032 trillion in submitted bids, rejecting ₦763 billion. During this period, the 364-day T-bill stop rate rose to 15.90 per cent from 15.85 per cent, marking the first increase since August.

Additionally, the Federation Account Allocation Committee (FAAC) distributed ₦2.428 trillion in revenue for September 2026. While statutory revenue increased compared to August, Value Added Tax (VAT) revenue declined by approximately ₦17.972 billion.

Entities

Debt Management Office · Federal Government of Nigeria · Central Bank of Nigeria · Federation Account Allocation Committee · Nigeria

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] The Debt Management Office is offering N1.75 trillion in bonds for subscription.
[● 2 SOURCES] The N1.75 trillion offer consists of three previously issued bonds being reopened.
[● 2 SOURCES] One offering includes N500 billion of a 10-year bond with a 19 per cent annual interest rate.
[● 2 SOURCES] A second offering includes N800 billion of a 10-year bond with a 16.79 per cent annual interest rate.
[● 2 SOURCES] The third offering includes N450 billion of a 15-year bond with a 15.45 per cent annual interest rate.
[● 2 SOURCES] The settlement for successful bids is scheduled for October 21.
[○ 1 SOURCE] The DMO targets N5.75 trillion in bond issuances for the fourth quarter of 2026.
[○ 1 SOURCE] The Q4 2026 plan includes N1.75 trillion in October and N2 trillion in both November and December.

Timeline

10 days ago

[BUSINESS] 2 sources
Nigeria Debt Management Office to offer N1.75tn in government bonds
Nigeria's Debt Management Office is set to offer N1.75 trillion in government bonds to fund budget deficits, following a recent Treasury bills auction where N763 billion in bids were rejected.
14 days ago

[BUSINESS] 9 sources
Nigeria announces N5.75tn bond target and N2.43tn revenue distribution
Nigeria's DMO plans to raise N5.75 trillion in Q4 2026 bonds, while FAAC distributed N2.428 trillion in September revenue to federal, state, and local governments.
23 days ago

[BUSINESS] 6 sources
Nigeria Federal Government raises ₦7.15tn through domestic bonds in 2026
Nigeria's Federal Government allotted ₦7.15 trillion in domestic bonds between January and September 2026, a 106 per cent increase from the previous year, amid strong investor demand.
about 1 month ago

[BUSINESS] 3 sources
Nigeria FGN bond yields fall as investors bid N1.49tn
Nigeria's Debt Management Office saw N1.49 trillion in bids for N1 trillion in FGN bonds, as yields on reopened 15-year securities dropped significantly compared to the previous month.

Sources

blueprint.ng · businesselitesafrica.com · dmarketforces.com · fellowpress.com · investorsking.com · nairametrics.com · primanews.org · punchng.com · riotimesonline.com · thenews-chronicle.com · thenigerialawyer.com · thepodiummedia.com · thewhistler.ng · thisdaylive.com

This summary has been updated 2 times: see revision history