Investors bid N1.49trn as bond raises N748.6bn

The Federal Government raised ₦748.64bn from its September 2026 domestic bond auction, with investors placing ₦1.49trn in bids for the two securities offered by the Debt Management Office.

The DMO allotted ₦288.83bn from the ₦400bn offered on the 10-year FGN bond at a marginal rate of 16.79 per cent.

Investors submitted ₦546.90bn in bids for the instrument, representing demand 36.7 per cent above the amount offered.

For the 15-year FGN bond reopening, the DMO received ₦947.83bn in bids against the ₦600bn offered. It allotted ₦460.01bn at a marginal rate of 16.85 per cent.

The rate was lower than the 17.79 per cent recorded at the previous auction, indicating a decline in the yield demanded by investors on the longer-dated bond.

Overall, investors sought about 49.5 per cent more than the ₦1tn offered, but the DMO accepted only ₦748.64bn, leaving approximately ₦746.59bn of bids unaccepted.

The auction highlights continued demand for Nigerian government securities, alongside a moderation in borrowing costs on the reopened 15-year instrument.

The outcome is expected to influence pricing in the secondary bond market, where government bond yields affect other fixed-income assets, including treasury bills and corporate bonds.