The Federal Government (FG) has announced the offer of N80 billion in bonds for subscription in July 2025. The auction, managed by the Debt Management Office (DMO), includes re-openings of the 10-year FGN JUL 2032 and the 30-year FGN JUN 2053 bonds.
Each bond is being offered at N40 billion. The auction will be held on July 29, 2025, and settlement will take place on July 30. Interest on both bonds is payable semi-annually, with the JUL 2032 bond offering a 12.50% coupon and the JUN 2053 bond offering 15.80%.
These bonds are backed by the full faith of the Federal Government and qualify as liquid assets for banks and institutional investors. They are also tax-exempt for pension funds and other government-approved entities.
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The bond auction is part of the FG’s broader strategy to raise capital for funding the budget deficit and implementing infrastructure projects. The DMO stated that the issuance aligns with its commitment to develop the domestic bond market and manage public debt sustainably.
Investors can place bids through Primary Dealer Market Makers (PDMMs), and the auction will follow a uniform price rule. Minimum subscription is N50,001,000 and thereafter in multiples of N1,000.
The offer continues the government’s use of long-term instruments to deepen the domestic debt market and reduce reliance on short-term borrowing.
