…allots N316.77bn
The Debt Management Office (DMO) has announced that investors staked a total of N1.06 trillion in the October 2025 Federal Government of Nigeria (FGN) bond auction, reflecting continued strong appetite for government securities amid sustained macroeconomic adjustments.
According to the auction result released by the DMO yesterday, the exercise featured the re-opening of two benchmark bonds, the 17.945 per cent FGN AUG 2030 (5-Year) and the 17.95 per cent FGN JUN 2032 (7-Year). Both bonds were auctioned on October 27, 2025, with settlement scheduled for October 29, 2025.
The 17.945 per cent FGN AUG 2030 bond attracted subscriptions worth N212.662 billion across 53 bids, while the 17.95 per cent FGN JUN 2032 bond recorded a much stronger demand, with 216 bids amounting to N845.627 billion.
Overall, total subscriptions across both maturities stood at N1.058 trillion, more than four times the N260 billion offered for sale. Out of these, the DMO allotted N87.798 billion for the 5-year bond and N225.973 billion for the 7-year paper, bringing total allotments to N316.77 billion.
Additionally, N3 billion was allotted on a non-competitive basis for the 7-year bond. For the 17.945 per cent FGN AUG 2030 bond, bids ranged between 15.0000 and 16.5000 per cent, while the marginal rate cleared at 15.8320 per cent. Similarly, for the 17.95 per cent FGN JUN 2032 bond, bids ranged from 14.5000 to 17.4000 per cent, with a marginal rate of 15.8500 per cent.
Despite the varying bid rates, the DMO confirmed that the original coupon rates of 17.945 per cent and 17.95 per cent for both bonds, respectively, will be maintained. Analysts say the oversubscription reflects investors’ sustained confidence in Federal Government debt instruments as a safe haven, particularly in a period of market uncertainty and elevated inflation.
The strong investor turnout also indicates a deepening of domestic participation in the FGN bond market, consistent with the government’s medium-term debt management strategy aimed at strengthening the local debt market and reducing exposure to external borrowing.
The DMO conducts FGN bond auctions monthly to raise funds for budget financing and infrastructure development while providing risk-free investment options for institutional and retail investors
