DMO to raise N4trn in Q3 through FGN Bonds
Abuja, July 2026 -The Debt Management Office (DMO) is to raise about ₦4 trillion through FGN Bonds in the third quarter of 2026.
According to the bond issuance calendar, the bonds will be issued on July 20, August 17, and September 14, 2026.
The auctions will entail reopening of three existing instruments rather than new series, consolidating liquidity around benchmark bonds.
The July 20 auction will comprise three bond reopening: the 22.60 per cent FGN JAN 2035, the 16.2499 per cent FGN APR 2037, and the 15.45 per cent FGN JUN 2038.
On July 20, three bonds will be offered: the 22.60% FGN JAN 2035 (₦500–₦600bn), the 16.2499% FGN APR 2037 (₦400–₦500bn), and the 15.45% FGN JUN 2038.
On August 17, the APR 2037 paper will be dropped, with only the JAN 2035 and JUN 2038 bonds offered, each in the range of ₦600–₦800bn.
According to the DMO, the auctions are part of efforts to finance Nigeria’s ₦29.2 trillion borrowing requirement for 2026, driven by a larger budget and fiscal deficit.
