Federal Government Seeks Investors in ₦260bn Bond Issuance

The Federal Government of Nigeria, through the Debt Management Office (DMO), has opened subscriptions for ₦260 billion worth of Federal Government bonds in its October 2025 auction.

According to a circular released by the DMO on Monday, October 27, 2025, the offer comprises a ₦130 billion, 17.945% FGN August 2030 bond (five-year reopening) and another ₦130 billion, 17.95% FGN June 2032 bond (seven-year reopening). Settlement for the auction is scheduled for October 29, 2025, with each unit priced at ₦1,000, subject to a minimum subscription of ₦50,001,000 and in multiples of ₦1,000 thereafter.

The DMO stated that interest payments would be made semi-annually, while full repayment would occur at maturity. It reaffirmed that the bonds are backed by the full faith and credit of the Federal Government of Nigeria and qualify as liquid assets for banks in meeting liquidity ratio requirements. The securities are also tax-exempt under the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) and are listed on both the Nigerian Exchange Limited and FMDQ OTC Securities Exchange.

Investors are encouraged to subscribe through any of the approved primary dealers and market makers, including Access Bank, First Bank, Stanbic IBTC, Citibank, FCMB, and Standard Chartered Bank. The DMO recently disclosed that it raised about ₦3.03 trillion from FGN savings bonds between January and August 2025, underscoring strong investor appetite, particularly for long-dated instruments.