The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), has announced the offering of ₦200 billion in Federal Government bonds for subscription at its August 2025 auction, scheduled for Monday, August 25, 2025, with settlement on Wednesday, August 27, 2025.
The offer includes two re-opened bonds: ₦100 billion FGN JUL 2030 (5-year) and ₦100 billion 17.95% FGN JUN 2032 (7-year). Each unit costs ₦1,000, with a minimum entry of ₦5,000 and further subscriptions in multiples of ₦1,000, up to ₦50 million. As re-openings, the final rates will depend on yield-to-maturity (YTM) bids. Investors will receive interest payments twice yearly, while the principal will be repaid in full at maturity.
The Debt Management Office (DMO) stated that the bond issuance is part of its regular borrowing strategy to support the national budget, finance infrastructure projects, and enhance Nigeria’s local debt market. These bonds, backed by the Federal Government, offer investors a combination of competitive returns and safety.
Market analysts note that the auction offers attractive opportunities for pension funds, banks, insurers, and retail investors seeking stable and relatively low-risk investments. In July 2025, the DMO attracted ₦300.67 billion in bids, allotting ₦185.93 billion, with strong demand for the 7-year 2032 bond, which saw ₦261 billion in subscriptions. Both bonds cleared at rates lower than their coupons, reflecting investor confidence in inflation trends and monetary policy.
Interested investors can apply through approved Primary Dealer Market Makers (PDMMs), such as leading commercial and merchant banks.
