The Federal Government of Nigeria (FGN), via the Debt Management Office (DMO), has announced the public offering of N260 billion worth of Federal Government bonds for subscription in its October 2025 auction.
The offer, which opened on Monday, October 27, 2025, features two reopening issues:
- N130bn 17.945% FGN August 2030 bond (five-year reopening)
- N130bn 17.95% FGN June 2032 bond (seven-year reopening)
According to a circular published by the DMO on its official X (formerly Twitter) account, the auction will be settled on October 29, 2025. Each bond unit is priced at ₦1,000, with a minimum subscription of ₦50,001,000, and subsequent increments allowed in multiples of ₦1,000.
Interest payments are scheduled semi-annually, while principal repayment will occur in full upon maturity.
Strengthening Investor Confidence
The DMO reiterated that the FGN Bond Programme, launched in 2017, was designed to broaden Nigeria’s domestic debt market, promote financial inclusion, and enable retail investors to access secure, low-risk government-backed securities.
The agency confirmed that the bonds qualify as trustee investments under the Trustee Investment Act, and as tax-exempt government securities under both the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA)—a status particularly beneficial for pension funds and institutional investors.
It further noted that the instruments are listed on the Nigerian Exchange Limited (NGX) and the FMDQ OTC Securities Exchange, qualifying them as liquid assets for banks to meet statutory liquidity ratio obligations.
Performance Overview
The DMO recently disclosed that it raised about ₦3.03 trillion through the FGN Bond Programme in the first eight months of 2025. Data from bond auction results between January and August show that the office offered roughly ₦2.13 trillion in bonds across short-, medium-, and long-term tenures.
However, investor demand for long-dated bonds remained robust, with total subscriptions reaching approximately ₦4.94 trillion within the same period.
The DMO assured investors that all FGN bonds are fully backed by the sovereign guarantee of the Federal Government of Nigeria, supported by the nation’s consolidated assets.
Prospective investors are encouraged to approach primary dealer banks and market makers such as Access Bank, First Bank of Nigeria, Stanbic IBTC, Citibank Nigeria, FCMB, and Standard Chartered Bank for participation.
, via the Debt Management Office (DMO), has announced the public offering of N260 billion worth of Federal Government bonds for subscription in its October 2025 auction.){kind=link}