This issuance is part of the Federal Government’s domestic borrowing program aimed at funding budgetary needs and managing public debt. The auction will include three bond re-openings across different maturities.

N300 billion will be offered in the 17.945% FGN AUG 2030 (5-year re-opening). Additionally, N100 billion will be offered in the 17.95% FGN JUN 2032 (7-year re-opening). Finally, N300 billion will be offered in the 22.60% FGN JAN 2035 (10-year re-opening).

Subscriptions are priced at N1,000 per unit, with a minimum investment of N50.001 million. Interest payments on the bonds are made semi-annually, while the principal is repaid in full at maturity.

FGN bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria. The longer-tenor 2035 bond carries the highest coupon rate at 22.60%.

The auction will be conducted using a competitive bidding process. 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.

The bonds qualify as liquid assets for banks’ liquidity ratio calculations. This feature enhances their attractiveness in the fixed-income market.

The auction is scheduled for April 29, 2026, and it reflects ongoing efforts by the government to manage its debt effectively.

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