FGN bonds attract N1.74trn, records   45% oversubscription

By Elizabeth Adegbesan

The Federal Government of Nigeria (FGN) bond auction in July 2026 was oversubscribed by 45 percent, or N540 billion, attracting total subscriptions of N1.74 trillion against the N1.2 trillion offered by the Debt Management Office (DMO).

This reflects strong investor demand for Federal Government of Nigeria (FGN) debt instruments.

According to the July FGN Bond Auction results released by the DMO yesterday, investors submitted bids worth N1.74 trillion for bonds valued at N1.2 trillion, while total allotments declined by 23.8 percent to N929.32 billion in July, from N1.22 trillion allotted in June.

Three instruments were offered during the auction: the 22.6 percent FGN JAN 2035, the 16.25 percent FGN APRIL 2037, and the 15.45 percent FGN JUN 2038 bonds, with N400 billion offered for each instrument.