The Federal Government of Nigeria, through the Debt Management Office (DMO), has unveiled plans to raise up to N360 billion from domestic bond sales in the third quarter of 2025, according to its latest bond issuance calendar.
As part of the plan, the DMO will reopen two existing instruments each month—the 19.30% FGN April 2029 bond and the 17.95% FGN June 2032 bond. Each tranche will offer between N40 billion and N60 billion, potentially raising N120 billion monthly and N360 billion cumulatively between July and September.
The scheduled auction dates are July 28, August 25, and September 29, with the bonds carrying five-year and seven-year tenors, respectively. The term-to-maturity profiles will vary from three years and seven months to six years and eleven months, depending on the issuance date.
This bond issuance is part of the government’s broader fiscal strategy to finance budget deficits, enhance debt sustainability, and support long-term infrastructural development through domestic borrowing.
