Nigeria's FGN Bond Allotments Surge to N7.15 Trillion in 2026

Between January and September 2026, the Federal Government allotted N7.15 trillion in FGN bonds, marking a 106% increase from N3.48 trillion allotted during the same period in 2025. This increase was primarily driven by significant allotments in January, June, July, and August, despite lower allotments in February and April, which fell by 42.4% and 30.4%, respectively.

The strongest monthly increase occurred in June 2026, with N1.22 trillion allotted compared to N100 billion in June 2025. Total subscriptions for FGN bonds reached N13.72 trillion during this period, indicating strong demand, with January and February accounting for N2.25 trillion and N2.70 trillion, respectively.

As of June 30, 2026, Nigeria's total public debt stock was N166.79 trillion, with domestic debt comprising N91.59 trillion, or 54.91% of the total. FGN bonds represented the largest component of this domestic debt, valued at N64.84 trillion.