The Federal Government of Nigeria (FGN) bond public sale attracted N1.75 trillion in subscriptions in October 2026, whereas the Debt Management Office (DMO) allotted N1.21 trillion throughout three reopened bonds.
According to the DMO’s public sale outcomes for October 19, 2026, traders submitted bids for the February 2034, September 2036 and June 2038 bonds, with the September 2036 bond recording the very best subscription.
The public sale provided traders fixed-income securities with maturities starting from February 2034 to June 2038, whereas profitable bids have been allotted at marginal charges between 16.99% and 17.29%.
FGN bond subscriptions attain N1.75 trillion
The September 2036 bond attracted the most important demand, reflecting traders’ subscriptions of N925.35 billion towards a suggestion of N800 billion.
- The February 2034 bond obtained N304.08 billion in subscriptions towards a suggestion of N500 billion.
- The September 2036 bond recorded N925.35 billion in subscriptions, the very best among the many three devices.
- The June 2038 bond attracted N518.32 billion towards a suggestion of N450 billion.
- The DMO recorded 420 bids throughout the three bonds, with 267 profitable bids.
The outcomes present that demand was concentrated in the September 2036 bond, whereas subscriptions for the February 2034 instrument fell beneath the quantity provided. The June 2038 bond additionally attracted subscriptions above its provide quantity.
DMO allots N1.21 trillion throughout three bonds
The DMO allotted N78.36 billion to the marketplace for the February 2034 bond, N781.31 billion for the September 2036 bond and N350.72 billion for the June 2038 bond.
The September 2036 instrument accounted for the most important share of market allotments, reflecting its place as essentially the most subscribed bond in the public sale.
The DMO additionally recorded non-competitive allotments of N400 billion every for the February 2034 and September 2036 bonds. No non-competitive allotment was recorded for the June 2038 bond.
The three devices have been reopened securities, which means the federal government provided extra quantities of present bonds slightly than issuing fully new devices.
Marginal charges settle between 16.99% and 17.29%
Successful bids for the February 2034, September 2036 and June 2038 bonds have been allotted at marginal charges of 16.99%, 17.29% and 17.19%, respectively.
- The September 2036 bond recorded the very best marginal fee at 17.29%, adopted by the June 2038 bond at 17.19%. The February 2034 bond had the bottom marginal fee at 16.99%.
- The DMO said that the bonds’ unique coupon charges would stay unchanged at 19.00% for the February 2034 instrument, 16.79% for the September 2036 bond and 15.45% for the June 2038 bond.
- Nairametrics beforehand reported that the DMO provided N1 trillion in September, comprising a brand new 10-year bond and the June 2038 reopening. In August, the company allotted N1.56 trillion throughout three bonds on demand of N1.73 trillion.
Rates had fallen following the Central Bank of Nigeria’s Monetary Policy Committee determination to chop the benchmark rate of interest by 350bps to 23% on September 22.
