DMO Unveils N4trn FGN Bond Auction Plan for Q3

The Debt Management Office (DMO) has unveiled plans to raise about N4 trillion through Federal Government of Nigeria (FGN) bond auctions in the third quarter of 2026 as part of efforts to finance government obligations.

The Q3 2026 FGN Bond Issuance Calendar released by the DMO showed that the bond auctions will hold on July 20, August 17 and September 14, 2026. All the auctions will be reopening of existing bond instruments.

According to the  issuance calendar, which is provisional and subject to change at short notice, the July 20 auction will have the reopening of three instruments, the 22.60 per cent FGN JAN 2035, the 16.2499 per cent FGN APR 2037 and the 15.45 per cent FGN JUN 2038 bonds. Each of the three papers will be offered within a range of N400 billion to N600 billion.

Also, the 22.60 per cent FGN JAN 2035 bond, with a remaining tenor of eight years and six months, will have an offer size of between N500 billion and N600 billion.

The 16.2499 per cent FGN APR 2037 bond, which will have 10 years and nine months to maturity at the time of the auction, will be offered within a range of N400 billion and N500 billion.

Similarly, the 15.45 per cent FGN JUN 2038 bond, with a remaining tenor of 11 years and 11 months, will also be reopened during the July exercise.

For the August 17 auction, the DMO plans to offer only the January 2035 and June 2038 bonds, dropping the April 2037 instrument from the schedule. The offer size for both bonds is slated to be between N600 billion and N800 billion each.

At the September 14 auction, with the January 2035 and June 2038 bonds is expected to be offered within the N600 billion to N800 billion range.