THE Federal Government (FG) plans to raise ₦900 billion through the reopening of three federal government bonds in its January 2026 auction.
This move is part of the government’s broader domestic borrowing strategy, designed to fund budgetary obligations while offering investors stable, long-term investment options and supporting the growth of Nigeria’s domestic debt market.
According to a circular from the Debt Management Office (DMO), the auction is scheduled for January 26, 2026, with settlement set for January 28.
Reopened bonds allow investors to participate in existing instruments with known coupon rates, reducing administrative costs and providing certainty on returns.
The offer covers medium- and long-term bonds, giving investors options across different maturities.
Specifically, the auction includes ₦300 billion from the 18.50% FGN February 2031 bond, ₦400 billion from the 19.00% FGN February 2034 bond, and ₦200 billion from the 22.60% FGN January 2035 bond.
Each bond is offered at ₦1,000 per unit, with a minimum subscription of ₦50,001,000 and subsequent increments in multiples of ₦1,000.
Coupon rates for these bonds are fixed, and successful bidders will pay a price reflecting the yield-to-maturity that clears the auction, along with any accrued interest.
Interest is paid semi-annually, and principal is repaid in full at maturity under a bullet repayment structure.
The DMO reported that total bond allotments in 2025 reached approximately ₦5.12 trillion, highlighting strong market participation and investor demand for government securities.