DMO Plans N5.75 Trillion Bond Issuance for Q4 2026

The Debt Management Office (DMO) intends to raise N5.75 trillion through Federal Government of Nigeria (FGN) bonds in the fourth quarter of 2026. Auctions are set for October 19, November 16, and December 14, with N1.75 trillion offered in October and N2 trillion in each of the subsequent months.

The largest share will be from the 16.79 per cent FGN September 2036 bond, totaling N2.8 trillion, followed by the 15.45 per cent June 2038 bond at N1.45 trillion, and the 19.00 per cent February 2034 bond at N1.5 trillion for the quarter. The DMO noted that the calendar is provisional and may change.

This plan comes after a rise in allotments from January to September 2026, which reached N7.15 trillion, significantly higher than N3.48 trillion in the same period of 2025. If fully allotted, total bond borrowing for the year could reach approximately N12.9 trillion.

Uche Uwaleke, a professor and founding director of the Institute of Capital Market Studies, stated that domestic borrowing can fund government projects and is a cheaper alternative to international borrowing.