The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), has reopened N260bn bonds for subscription in its October auction. The offer, which opened on Monday, October 27, 2025, includes a N130bn 17.945% FGN August 2030 bond and a N130bn 17.95% FGN June 2032 bond.
According to the DMO’s circular on X, the auction will be settled on October 29, 2025. Bonds are sold in units of N1,000, with a minimum subscription of N50,001,000, and in multiples of N1,000 thereafter. Interest will be paid semi-annually, while principal repayment will occur on the bonds’ respective maturity dates.
Launched in 2017, the FGN Savings Bond programme aims to provide retail investors with low-risk government securities, strengthen the domestic bond market, and promote financial inclusion.
The DMO noted that the bonds “qualify as securities in which trustees can invest under the Trustee Investment Act” and are eligible for tax exemptions under the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA) for pension funds and other investors.
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The bonds are listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange, making them liquid assets that banks can use to meet liquidity ratio requirements. The DMO emphasized that they are backed by the full faith and credit of the Federal Government of Nigeria.
Investors interested in the N260bn bonds are advised to contact primary dealers and market makers, including Access Bank Plc, First Bank of Nigeria Ltd., Stanbic IBTC Bank Ltd., Citibank Nigeria Ltd., First City Monument Bank Plc., and Standard Chartered Bank Nigeria Ltd.
Data from the DMO shows that in the first eight months of 2025, FGN Savings Bonds raised around N3.03 trillion, while total subscriptions reached nearly N4.94 trillion, reflecting strong demand for long-dated securities.