The Debt Management Office (DMO) has allotted a total of ₦100 billion across two bond offerings.
Held on Monday, June 23, 2025, the auction featured two separate bonds with face values of ₦50 billion each, being the results of the June 2025 Federal Government of Nigeria (FGN) Bond Auction.
The bonds were issued as part of the government’s strategy to finance the 2025 national budget and manage public debt obligations through domestic borrowing.
The first instrument offered was a five-year reopening bond with a coupon rate of 19.30%, set to mature on April 17, 2029. The bond attracted 30 bids totalling ₦41.685 billion in subscriptions, signalling strong investor demand.
However, only two bids were successful, with a final allotment of ₦1.050 billion.
The second instrument, a newly issued seven-year bond carrying a 17.95% coupon rate and maturing on June 25, 2032, garnered 209 bids, with subscriptions amounting to ₦561.170 billion.
Out of these, 41 bids were accepted, and ₦98.950 billion was allotted.
This brought the total funds raised through the auction to ₦100 billion, aligning with the DMO’s stated target.
According to the DMO, the bond issuance was carried out in compliance with the Debt Management Office (Establishment) Act, 2003, and the Local Loans (Registered Stock and Securities) Act, CAP. L17, Laws of the Federation of Nigeria 2004.
The marginal rates for the successful bids were 17.75% for the 19.30% FGN APR 2029 (Re-opening, 5-Year Bond) and 17.95% for the 17.95% FGN JUN 2032 (New, 7-Year Bond).
Despite the marginal rate for the five-year bond being lower than the coupon rate, the DMO clarified that the original coupon rate of 19.30% will remain in effect.