The Debt Management Office (DMO) has allotted Federal Government of Nigeria (FGN) bonds worth ₦576.6 billion at its September 2025 primary market auction, after strong investor demand drove total subscriptions to ₦1.3 trillion.
The auction offered ₦200 billion in reopened local bonds across 5-year and 7-year maturities. The 5-year tranche, with an offer size of ₦100 billion, attracted subscriptions of ₦231.79 billion. Out of 66 bids, 22 were successful, with ₦87.80 billion allotted at a marginal rate of 16%.
Demand was even stronger for the 7-year bonds, where investors submitted bids worth over ₦1.02 trillion against the ₦100 billion offer. The DMO allotted ₦488.83 billion across 91 successful bids at a marginal rate of 16.20%.
According to the auction results, successful bids for the 17.945% FGN AUG 2030 (5-year re-opening) and the 17.95% FGN JUN 2032 (7-year re-opening) cleared at marginal rates of 16% and 16.20%, respectively. The original coupon rates of 17.945% and 17.95% will be maintained.
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