Investors oversubscribe FG bonds as demand exceeds offer
Federal Government bonds attracted strong investor interest at the July 2026 auction, with subscriptions reaching ₦1.74tn. The Debt Management Office offered ₦1.2tn across three reopened bond instruments, but demand far exceeded this amount. Bonds for 2035, 2037, and 2038 saw high levels of bidding and allotment. Settlement for the bonds is scheduled for July 22, 2026.
TLDR
- The DMO recorded total subscriptions of ₦1.74tn at its July 2026 Federal Government bond auction, overshooting the ₦1.2tn offered.
- The “16.2499% FGN APR 2037” bond received the highest interest, with 211 bids worth ₦665.19bn and 126 successful bids.
- The “22.60% FGN JAN 2035” bond saw 184 bids totaling ₦555.47bn, with 90 successful bids and ₦245.73bn allotted.
- The “15.45% FGN JUN 2038” bond attracted 161 bids worth ₦518bn, with 92 successful bids and ₦302.13bn allotted, plus a ₦50bn non-competitive bid.
- Settlement for the bonds is scheduled for July 22, 2026.
