Nigeria's Government Seeks N2tn in Bond Auction This Month

The Federal Government of Nigeria is set to return to the domestic debt market with a N2tn bond offer, as disclosed by the Debt Management Office in its November 2026 bond offer circular. The auction is scheduled for 16 November 2026, with settlement on 18 November 2026.

The offer includes four bonds maturing between March 2028 and May 2033, with the August 2030 bond representing the largest share at N750bn. The breakdown of the offer includes N700bn for the 21 per cent March 2028 bond, N250bn for the 19.30 per cent April 2029 bond, N750bn for the 17.945 per cent August 2030 bond, and N300bn for the 19.89 per cent May 2033 bond.

Investors will subscribe at prices determined by auction yields, while original coupon rates remain unchanged. Interest payments will occur biannually, and each bond unit is priced at N1,000.

The bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange, qualifying as liquid assets for banks. They are backed by the full faith and credit of the Federal Government.