The Federal Government of Nigeria, through the Debt Management Office (DMO), has announced a bond auction worth ₦80 billion for July 2025. This auction, scheduled for July 28, 2025, with settlement expected on July 30, 2025, comprises two re-openings of previously issued bonds.
The bond auction includes ₦20 billion worth of the 19.30% FGN APR 2029 bond, a five-year bond with a coupon rate of 19.30%, maturing on April 17, 2029. Additionally, the government is offering ₦60 billion worth of the 17.95% FGN June 2032 bond, a seven-year bond with a coupon rate of 17.95%, maturing on June 25, 2032.
The bonds will be sold at a unit price of ₦1,000, with a minimum subscription of ₦5,000 and additional investments in multiples of ₦1,000. The maximum subscription is capped at ₦50 million. Interest payments will be made semi-annually, while principal repayment will be made in full at maturity.
The DMO advises interested investors to contact authorized Primary Dealer Market Makers (PDMMs) for applications and further guidance. This bond auction is part of the government’s efforts to raise funds for fiscal policies and infrastructure development. The government uses these funds to finance its budget and implement projects that drive economic growth and development.
Investors in these bonds can expect regular interest payments and the return of their principal investment at maturity. The bonds offer a relatively stable investment option, backed by the federal government, making them attractive to investors seeking low-risk investments.
The bond auction is open to various investors, including individuals, corporations, and institutional investors. The government’s bond issuance strategy aims to deepen the domestic debt market and provide opportunities for investors to participate in the country’s economic growth .
