The Federal Government of Nigeria (FGN) bond auction held in July 2026 saw an impressive oversubscription of 45%, amounting to N540 billion, with total subscriptions reaching N1.74 trillion against the N1.2 trillion offered by the Debt Management Office (DMO). This strong demand for FGN debt instruments indicates a robust investor interest in government bonds. The auction results revealed that three bonds were offered: the 22.6% FGN JAN 2035, the 16.25% FGN APRIL 2037, and the 15.45% FGN JUN 2038, each with N400 billion on offer. Notably, the APRIL 2037 bond attracted the highest interest, with N665.19 billion in bids and N381.46 billion allotted. The JAN 2035 and JUN 2038 bonds also garnered significant subscriptions of N245.73 billion and N302.13 billion, respectively. Despite a 23.8% decline in total allotments compared to June, the auction reflects a sustained appetite for Nigerian government debt amid tightening conditions.
NigeriaNewsFeed summary based on reporting from Vanguard News.
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