Nigeria's DMO to Raise N1.2 Trillion via Bond Auctions

The Debt Management Office (DMO) of Nigeria is set to raise N1.2 trillion by reopening two federal government bond auctions on June 22, 2026. According to the DMO's offer circular released on June 15, 2026, the government will offer N600 billion in a 10-year bond with a coupon rate of 22.60% and N600 billion in a 20-year bond with a coupon rate of 16.2499%.

The settlement date for these issuances is scheduled for June 24, 2026. This issuance is part of the government's domestic borrowing program and comes amid elevated yields in the fixed income market.

The minimum investment requirement for these bonds is N50,001, with additional purchases in multiples of N1,000. Investors will receive semi-annual coupon payments, and the principal will be repaid in full at maturity.

The DMO's plan reflects the government's need for funds while managing liquidity in the market, particularly as the Central Bank of Nigeria tightens liquidity through open market operations.