Get Guardian on GoogleThe Debt Management Office (DMO) has announced that it raised N136.16 billion from the Federal Government of Nigeria (FGN) bond auction for August 2025, conducted on Monday.
In a statement released on Tuesday via its official website, the DMO disclosed that the auction featured a new five-year local bond offered at 17.95 per cent, due to mature in August 2030, as well as the reopening of a seven-year bond also at 17.95 per cent, maturing in June 2032.
According to the DMO, total subscription across the two instruments stood at N268.17 billion, reflecting strong investor appetite.
Investors showed greater preference for the reopened seven-year bond, which attracted N165.81 billion in subscriptions against the N100 billion on offer.
For the newly issued five-year bond, subscriptions stood at N102.36 billion compared to the N100 billion offered. However, the DMO allotted N46.005 billion at a spot rate of 17.945 per cent, rejecting the balance of bids.
Meanwhile, the reopened seven-year bond recorded a higher allotment, with the DMO raising N90.15 billion and adjusting the spot rate upward by 2.10 percentage points to 18 per cent.
The bonds, according to the DMO, will be repaid in full on their respective maturity dates through a bullet repayment structure, meaning the principal will be redeemed in a single lump sum at maturity.
