Nigeria's Government Secures N8.4tn in Bond Market
The federal government, through the Debt Management Office (DMO), raised an estimated N8.4 trillion via the FGN Bond between January 2026 and October 2026 to bridge its budget deficit. The government aimed to raise N10.1 trillion for critical projects, with total subscriptions reaching N15.5 trillion, driven by large institutional investors attracted by high interest rates.
The DMO reopened the FEB 2034, SEP-2036, and JUN-2038 bonds in October 2026, offering N1.75 trillion, with total demand matching this amount. The DMO allotted N1.21 trillion, with stop rates for the SEP-2036 and JUN-2038 bonds increasing to 17.29 percent and 17.19 percent, respectively.
The amount offered in October increased from N1 trillion in September, part of a N5.75 trillion fourth-quarter bond program. The FGN Bond saw a subscription increase of 16.9 percent from September, reflecting investor confidence, particularly from Pension Fund Administrators (PFAs), in risk-free instruments.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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