The Debt Management Office (DMO) said it raised N136.16 billion from the August 2025 Federal Government of Nigeria (FGN) bond auction conducted on Monday.

The DMO, in a statement on its official website yesterday, said the auction featured a new five-year local bond offered at 17.95 per cent, which will be due in August 2030. There is also the reopening of the seven-year FGN bond offered at 17.95 per cent, which is expected to mature in June 2032.

Total subscription was N268.17 billion across the two offers.

The DMO auction results revealed that investors showed a preference for reopened local bonds with longer maturity tenor, attracting a total subscription of N165.81 billion against N100 billion offered for subscription.
Despite significantly lower subscriptions from investors, the DMO undersold bonds that were offered at the auction with a surprise increase in the spot rate on the reopened bond.

The new bond issuance attracted a sum of N102.36 billion in subscription from investors, a marginal increase from N100 billion offered for sale at the auction.

The DMO allotted N46.005 billion to investors that bid for the FGN bond, which is to mature in 2030 at the spot rate of 17.945 per cent, rejecting the remaining subscription. The authority raised N165.81 billion from reopened local bonds and hiked the spot rate by 2.1 per cent to 18 per cent.

The bonds will be repaid in full on their respective maturity dates through bullet repayment, meaning the principal will be paid back in a single lump sum.