Government Securities Make Up 80% of NGX Listings in 2026

In the first nine months of 2026, government securities dominated new and supplementary listings on the Nigerian Exchange (NGX), representing approximately N11.08 trillion, or 80% of the total identifiable listing value of N13.86 trillion. This data was reported in the latest Nigerian Exchange Regulation (NGX RegCo) X-Compliance Report.

Federal Government instruments alone contributed about N10.535 trillion, with 109 transactions recorded across various categories, including corporate debt and public offers. The report indicated that Federal Government securities, Sukuk, and Lagos State bonds collectively accounted for N11.08 trillion, while corporate and other non-government transactions made up the remaining N2.78 trillion.

The concentration of government securities illustrates the ongoing reliance on existing FGN bond lines for financing through the domestic capital market. Notable listings included N888.63 billion of the 16.79% FGN September 2036 bond and N1.370 trillion of the 17.95% FGN June 2032 bond.

The figures underscore the importance of the DMO’s domestic borrowing program in Nigeria’s fixed-income market.