Nigeria DMO Announces N800bn Bond Auction for 2026

The Debt Management Office (DMO) of Nigeria will conduct an N800 billion bond auction on February 23, 2026. The auction will feature a range of coupon rates from 17.95% to 19.89%, signaling a gradual easing of government borrowing costs.

The bonds will be offered in three tranches: N400 billion at 17.95% due June 2032, N300 billion at 19.89% due May 2033, and N100 billion at 19.00% due February 2034. The minimum subscription for the auction is set at N50,001,000.

This auction represents a strategic reopening at a time when yield trends are downward across Nigeria's fixed income market, with coupon rates remaining close to the 20% mark. The DMO's actions are expected to test investor confidence in Nigeria's macroeconomic outlook, as the auction aims to capitalize on favorable market sentiment and stabilize borrowing conditions in the months ahead.