DMO to Sell N900bn FGN Bonds January 26

By Aduragbemi Omiyale

Bonds worth about N900 billion is to be offered to investors in January 2026 by the Debt Management Office (DMO).

The debt instrument would be sold by the agency on behalf of the Federal Government of Nigeria (FGN) as part of its borrowing plans.

The paper would be issued in three tenors, according to the debt office of the Nigerian government, and would be sold at N1,000 per unit.

Business Post reports that the minimum subscription for the bond is N50 million and in multiples of N1,000 thereafter, with the interest to be paid semi-annually, and the bullet repayment on the maturity date.

For re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument, a circular from the DMO disclosed.

The auction date, the agency revealed, is Monday, January 26, 2026, with N300 billion of a 7-year reopening note offered at 18.50 per cent. The organisation will also auction N400 billion of 10-year re-opening 19.00% FGN FEB 2034, and another 10-year re-opening 22.60% FGN JAN 2035 note worth N200 billion.

The FGN bonds are backed by the full faith and credit of the Federal Government and are charged upon the general assets of Nigeria. They qualify as securities in which trustees can invest under the Trustees Investment Act and can be used as government securities within the meaning of Company Income Tax Act and Personal income Tax Act for tax exemption for pension funds amongst other investors.

After issuance, the debt instruments would be listed on the Nigerian Exchange (NGX) Limited and the FMDQ Securities Exchange.