Nigerian govt’s August bonds oversubscribed by N92bn –DMO

The Nigerian government’s bonds for August, which were valued at N150 billion and auctioned on Wednesday, were oversubscribed by N92.23 billion, the Debt Management Office (DMO) has said.

In the auction results posted on its website on Wednesday, the DMO noted that N242.23 billion was recorded as the total subscription for the bonds.

It was made up of N32.68bn for the 12.5% FGN January 2026 bonds, N48.82bn for the 12.5% FGN March 2035 bonds, N46.44bn for the 9.8% FGN July 2045 bonds, and N114.29bn for the 12.98% FGN March 2050 bonds.

Read also: Nigerian govt to auction N150bn bonds next week

There were 34 successful bids each for the January 2026 and March 2035 bonds, while the July 2045 and March 2050 bonds attracted 31 and 55 successful bids from a total of 41, 71, 46 and 1,000 bids respectively.

Successful bids for 12.5% FGN Jan 2026, 12.5% FGN Mar 2035, 9.8% FGN Jul 2045 and 12.98% FGN Mar 2050 were allotted at the marginal rates of 6.7%, 9.35%, 9.75% and 9.9% respectively.

“The original coupon rates of 12.5% for the 12.5% FGN Jan 2026, 12.5% for the 12.5% FGN Mar 2035, 9.8% for the 9.8% FGN Jul 2045 and 12.98% for the 12.98% FGN Mar 2050 will be maintained,” the DMO said.

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