The Federal Government of Nigeria is offering ₦80 billion in bonds for subscription via auction on July 28, with settlement scheduled for July 30. The offer comprises two reopened bond issues: ₦20 billion for the 19.30% FGN April 2029 bond and ₦60 billion for the 17.95% FGN June 2032 bond.
The Debt Management Office, which announced the offer in a circular on Wednesday, said the bond issuance aligns with legal frameworks guiding Nigeria’s domestic debt market. Each bond is priced at ₦1,000, with a minimum subscription of ₦5,000 and increments in multiples of ₦1,000.
Also Read: DMO Raises ₦100bn via June Bond Auction
Interest payments will be made twice yearly, while the principal will be repaid in full at maturity. The interest rates will be determined by bids that match the total volume offered, as these are re-issues of previously sold bonds.
The new auction follows a June offer of ₦100 billion, which attracted high demand. In particular, the seven-year bond saw over ₦561 billion in subscriptions, with ₦98.95 billion eventually allotted to 41 successful bidders.
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