FG to Issue N750 Billion Bonds in March 2026

The Federal Government of Nigeria, through the Debt Management Office (DMO), has announced plans to open subscriptions for N750 billion worth of Federal Government bonds in March 2026. The bond offer includes three re-opened instruments: N250 billion of the 17.945% bond maturing in August 2030, N200 billion of the 17.95% bond maturing in June 2032, and N300 billion of the 19.89% bond maturing in May 2033.

The auction is scheduled for March 30, 2026, with settlement on April 1, 2026. This issuance reflects a reduction of N50 billion from the previous month's offer of N800 billion, indicating a calibrated borrowing approach to manage fiscal pressures and avoid excess upward pressure on yields.

The coupon rates for the bonds remain fixed, highlighting the ongoing high cost of domestic debt. The issuance is part of the government's strategy to finance its budget deficit and manage maturing obligations while maintaining liquidity in the domestic bond market.