The Federal Government of Nigeria is offering ₦80 billion worth of bonds for subscription in its July 2025 auction, the Debt Management Office (DMO) announced on Wednesday.
The bond offer, scheduled for auction on July 28 with settlement on July 30, comprises two re-openings of existing instruments: ₦20 billion for the 19.30% FGN April 2029 bond (five-year tenor), and ₦60 billion for the 17.95% FGN June 2032 bond (seven-year tenor).
Each bond unit is priced at ₦1,000, with a minimum subscription of ₦5,000 and subsequent investments in multiples of ₦1,000. Individual investors may subscribe up to ₦50 million.
According to the DMO, the bond issuance aligns with the Debt Management Office (Establishment) Act, 2003, and the Local Loans Act, CAP. L17, Laws of the Federation of Nigeria 2004.
The interest rate for the bonds will be determined by the bid yield at auction, with semi-annual interest payments and full principal repayment at maturity.
Last month, the DMO offered ₦100 billion in bonds, attracting strong interest. The 19.30% April 2029 bond saw 30 bids totalling ₦41.7 billion, though only two were successful, with ₦1.05 billion allotted. The 17.95% June 2032 bond drew 209 bids worth ₦561.2 billion, out of which 41 bids were accepted, and ₦98.95 billion was allotted.
More details are expected in the coming days as the auction date approaches.
