The Debt Management Office (DMO) has announced it raised N136.16 billion from the August 2025 Federal Government of Nigeria (FGN) bond auction.
According to a circular on its website, the auction featured two instruments: the new 17.945% FGN AUG 2030 (5-year) and the re-opened 17.95% FGN JUN 2032 (7-year), each with an offer size of N100 billion.
The 5-year bond attracted 70 bids worth N102.36 billion, with N46.01 billion allotted at a marginal rate of 17.945%. Bid rates ranged between 12.50% and 21.50%.
The 7-year bond saw stronger demand with 111 bids totaling N165.81 billion. The DMO allotted N90.16 billion at a marginal rate of 18%, with bids between 15% and 22%.
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For context, the July 2025 auction saw a larger allotment of N185.9 billion across re-opened bonds. These included the 19.30% FGN APR 2029 (5-year) and the 17.95% FGN JUN 2032 (7-year).
In that auction, the APR 2029 bond received N39.075 billion in subscriptions, with N13.430 billion allotted, while the JUN 2032 bond attracted N261.597 billion in bids, with N172.502 billion allotted.
The July bonds retained coupon rates of 19.30% and 17.95% but cleared at marginal rates of 15.69% and 15.90% respectively, showing investor appetite at slightly lower yields.
According to the DMO, these issuances comply with the Debt Management Office Act, 2003, and the Local Loans (Registered Stock and Securities) Act, CAP. L17, Laws of the Federation 2004.
Each bond unit is priced at N1,000, with a minimum subscription of N50,001,000. Payments are based on yield-to-maturity plus accrued interest to the settlement date.
Both bonds pay interest semi-annually and will be repaid in a single lump sum (bullet repayment) on their respective maturity dates.
