Nigeria’s Federal Government is seeking to raise ₦900 billion in its January 2026 Federal Government of Nigeria (FGN) bond auction, underscoring efforts to deepen the domestic debt market and support budget financing. The Debt Management Office (DMO) said the auction, scheduled for January 26, 2026, with settlement on January 28, will involve the reopening of three existing federal bonds, according to Nairametrics.
Under the plan, ₦300 billion will be raised from the 18.50 percent FGN February 2031 bond, ₦400 billion from the 19.00 percent FGN February 2034 bond and ₦200 billion from the 22.60 percent FGN January 2035 bond, offering a mix of medium and long-term maturities for investors, as outlined in the DMO auction circular. The bonds, priced at ₦1,000 per unit, will be tradable on both the Nigerian Exchange (NGX) and the FMDQ OTC Securities Exchange, enhancing liquidity for market participants.
DMO officials said reopening existing securities allows the government to leverage known coupon rates and build out the benchmark yield curve, potentially lowering execution costs and improving market depth, according to the circular cited by media. Financial market analysts view the auction as a key mechanism to mobilise domestic savings and attract long-term investment into government securities amid broader fiscal pressures.
Investors will closely watch subscription levels as an indicator of confidence in Nigeria’s debt market, with strong uptake seen as supportive of broader domestic financing strategies without excessive reliance on short-term instruments, as noted by ChannelsTv.
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