DMO Seeks N900 billion Through Bonds Auction
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.
Each bond is offered at N1,000 per unit, with a minimum subscription of N50,001,000 and subsequent increments in multiples of N1,000.
Coupon rates for the reopened bonds are fixed, with successful bidders paying a price that reflects the yield-to-maturity clearing the auction volume, plus any accrued interest.
Interest is paid semi-annually, and principal is repaid in full at maturity under a bullet repayment structure.
According to DMO records, total bond allotments in 2025 reached approximately N5.12 trillion, indicating strong market participation and demand for government securities
