News
FG bonds record 35% oversubscription in April auction
By Elizabeth Adegbesan
The Federal Government of Nigeria (FGN) bond auction in April 2026 recorded a 35.4% oversubscription, reflecting strong investor demand, the Debt Management Office (DMO) disclosed Monday.
Investors bid N948.01 billion for bonds worth N700 billion, though total allotments fell 42.9 % to N276.79 billion, down from N485.49 billion in March.
Three instruments were offered during the auction: 17.945% FGN AUG 2030 (5-year reopening) – N300 billion offered; 17.95% FGN JUN 2032 (7-year reopening) – N100 billion offered; 22.6% FGN JAN 2035 (10-year reopening) – N300 billion offered.
Investor interest was strongest for the 10-year JAN 2035 bond, which attracted N599.023 billion in bids from 154 successful applicants.
The bulk of allotments also went to this bond, totalling N211.24 billion.
The AUG 2030 bond received N46.84 billion, while the JUN 2032 bond got N18.72 billion.
Clearing yields for the bonds were as follows: AUG 2030: 16.3%, JUN 2032: 16.5%, and JAN 2035: 16.59%.
During the auction, the bonds were priced within these ranges: AUG 2030: 15.35% – 17.95%; JUN 2032: 16% – 18%; JAN 2035: 15% – 22.6%.
The results reflect growing appetite among investors for Nigerian government debt, even as allotments tightened compared with previous months.
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