The Nigerian Exchange Limited has announced the listing of a new N368,309,761,000 Federal Government of Nigeria Bond.

The 10-year bond, carrying a coupon rate of 22.60%, was listed on the Exchange on Tuesday, February 18, 2025.

The newly listed bond, designated as 22.60% FGN JAN 2035, has been assigned the symbol code FG212035S1 and the ISIN NGFG21203518.

It matures on January 29, 2035, with coupon payments made semi-annually on January 29 and July 29. The issuance date for the bond was January 29, 2025.

In addition to the new listing, the NGX also announced supplementary listings for two existing FGN bonds.

The 19.30% FGN APR 2029 bond has been increased by 78,859,905 units, bringing the total outstanding units to 463,161,536. The 18.50% FGN FEB 2031 bond has also seen an increase of 153,869,360 units, resulting in a new total of 2,108,213,312 outstanding units.

According to information released by the NGX, the new bond and the supplementary listings aim to deepen the Nigerian capital market and provide investors with a wider range of investment options.

Specifically, the listing is expected to boost trading activity and contribute to the overall growth of the bond market.

NGX emphasised the importance of these listings for capital market development.

It said, “The listing of this N368 billion FGN bond underscores the NGX’s commitment to supporting the Federal Government’s financing needs and providing investors with access to diverse investment opportunities. These listings contribute to the growth and vibrancy of the Nigerian debt market.

“The NGX plays a crucial role in the Nigerian financial ecosystem, providing a platform for trading in equities, bonds, and other securities. Listings like this new FGN bond are essential for attracting investment and fostering economic growth.”

The newly listed 10-year bond offers investors a long-term investment option with a fixed coupon rate, providing a degree of stability in their portfolios.

Similarly, the supplementary listings of existing bonds further enhance market liquidity and offer investors greater flexibility in their investment strategies.

“These actions by the Federal Government, facilitated by the NGX, are aimed at strengthening the Nigerian economy and providing crucial funding for various development projects”, NGX stated.