DMO Allocates N1.56tn in FGN Bonds Amid Strong Demand

On August 17, 2026, investors submitted bids totaling N1.73tn for Federal Government of Nigeria bonds at an auction conducted by the Debt Management Office (DMO). The DMO allotted N1.56tn across three securities, surpassing the initial offering of N1.10tn due to robust demand, particularly in the non-competitive segment.

The auction included reopened FGN bonds maturing in 2035, 2037, and 2038, with settlement scheduled for August 19. A total of 595 bids were received, with 226 being successful.

The 15.45% FGN June 2038 bond was the most sought after, attracting 225 bids valued at N821.32bn, with 161 competitive bids accepted and N631.02bn allotted through the competitive window. Additionally, N742.29bn was allotted to non-competitive bidders for the 2038 bond, bringing its total allocation to over N1.37tn.

The marginal rate for this bond was set at 17.79%. The 22.60% FGN January 2035 bond received 199 bids worth N513.61bn, with 31 successful bids resulting in a competitive allotment of N64.13bn and an additional N10bn for non-competitive bidders, with a marginal rate of 17.15%.