By Mariam Abeeb
The Debt Management Office has announced plans to raise N600bn through a fresh Federal Government bond auction scheduled for May 18, 2026.
The DMO, acting on behalf of the Federal Government, disclosed this in an offer circular issued on Tuesday.
It said the bond offer was part of efforts to finance fiscal obligations, deepen the domestic capital market and attract institutional investors amid sustained demand for fixed-income securities.
According to the circular, settlement for successful subscriptions will take place on May 20, 2026.
The DMO stated that the offer consists of two re-opened FGN bond instruments valued at N300bn each.
The instruments include a N300bn 22.60 per cent FGN January 2035 10-year re-opening bond and a N300bn 16.2499 per cent FGN April 2037 20-year re-opening bond.
It added that the bonds are priced at N1,000 per unit, with a minimum subscription of N50.001m and additional investments allowed in multiples of N1,000.
The office explained that the coupon rates for both instruments had already been fixed because they are re-openings of previously issued bonds.
It noted that interest payments would be made semi-annually, while repayment of the principal would be through a bullet repayment structure at maturity.
The DMO also said successful bidders would pay based on the yield-to-maturity that clears the auction, in addition to accrued interest.
It assured investors that the bonds are backed by the full faith and credit of the Federal Government of Nigeria.
