​The Federal Government of Nigeria has launched a massive N1.1 trillion domestic fund-raising program through the Debt Management Office, inviting local institutional investors and high-net-worth individuals to participate in an upcoming multi-tranche sovereign bond offer.
​In an official circular released in Abuja, debt management authorities announced that three benchmark debt instruments are being reopened for subscription at N1,000 per unit.
The offering spans varying maturity profiles aimed at optimizing the national debt structure, featuring a 10-year paper maturing in January 2035 with a coupon rate of 22.60 percent per annum valued at N250 billion, a 20-year paper maturing in April 2037 offered at 16.2499 percent per annum for N100 billion, and a larger 15-year paper maturing in June 2038 offering 15.45 percent per annum valued at N750 billion.
​The Debt Management Office set Monday, August 17, 2026, as the official auction date for prospective bidders, with successful allotments scheduled for financial settlement on Wednesday, August 19, 2026.
While individual units carry an initial nominal value of N1,000, participation in the primary auction requires a substantial minimum entry threshold of N50 million, with additional bidding allowed in increments of N1,000 thereafter.
Successful competitive bidders across all three re-opened tranches will pay a price corresponding to the yield-to-maturity bid that clears the auctioned volume, alongside any accrued interest accrued prior to settlement.
​Backed by the full faith and credit of the Federal Government, the bonds carry zero sovereign default risk and offer semi-annual interest payouts coupled with a bullet principal repayment upon final maturity.
The issuance also benefits from key statutory incentives, including tax exemptions under the Company Income Tax Act and Personal Income Tax Act, eligibility for bank liquidity ratio calculations, trustee status under the Trustee Investment Act, and secondary market trading access on both the Nigerian Exchange Limited and the FMDQ OTC Securities Exchange.
