The Debt Management Office (DMO) has announced that the Federal Government will seek to raise N900 billion through the reopening of three federal bonds in its January 2026 auction.
The auction, according to a DMO circular issued on Monday, is scheduled for January 26, 2026, with settlement set for January 28, 2026.
The offering spans medium- and long-term bonds, providing investors with opportunities across multiple maturities.
The January offer comprises three reopened instruments targeting subscriptions of N300 billion from the 18.50 per cent FGN February 2031 bond, N400 billion from the 19.00 per cent FGN February 2034 bond, and N200 billion from the 22.60 per cent FGN January 2035 bond.
According to DMO records, total bond allotments in 2025 reached approximately N5.12 trillion, indicating strong market participation and demand for government securities.
The FGN has routinely used bond reopenings as a tool to finance budget deficits while deepening Nigeria’s domestic debt market.
These instruments provide long-term investment options for pension funds, insurance companies, and individual investors seeking predictable yields.
Reopened bonds allow the government to tap into existing instruments with known coupon rates, offering certainty for investors and reducing the administrative costs of issuing new securities.
Additionally, such offerings strengthen market liquidity and contribute to the development of a benchmark yield curve for the domestic market.
Investors in the January auction will benefit from several statutory and regulatory incentives.
Applications must be submitted through any of the authorised Primary Dealer Market Makers (PDMMs), according to DMO circular.
The January auction is part of the FGN’s broader domestic borrowing strategy aimed at financing budgetary obligations while providing investors with stable, long-term investment opportunities and supporting the growth of the domestic debt market.