The Federal Government of Nigeria has issued N596bn in medium-term bonds, comprising a five-year 17.945 per cent FGN bond maturing in August 2030 and a seven-year 17.95 per cent FGN bond maturing in June 2032.

The bonds were offered at an auction held on 15 December 2025, with settlement scheduled for 17 December 2025. Investors submitted a total of 60 bids for the five-year bond and 188 bids for the seven-year bond. Of these, 38 and 112 bids were successful for the five-year and seven-year bonds, respectively.

The subscription for the five-year bond stood at N159.211bn, with N101.987bn allotted. The seven-year bond attracted N731.399bn in bids, of which N494.478bn was allotted, alongside a non-competitive allotment of N4bn.

Bids for the five-year and seven-year bonds ranged from 15.0000 per cent to 18.5100 per cent and 15.0000 per cent to 18.5200 per cent, respectively.

Successful bids were allotted at marginal rates of 17.20 per cent for the five-year bond and 17.30 per cent for the seven-year bond, while the original coupon rates of 17.945 per cent and 17.95 per cent were maintained.

The FGN said the bond issuance was aimed at raising funds to support key government projects while providing investors with stable, medium-term returns.

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