The Federal Government of Nigeria, through the Debt Management Office, has announced plans to raise up to N360bn from bond sales in the third quarter of 2025, according to its latest bond issuance calendar.
The calendar shows that the DMO will reopen two existing instruments monthly, the 19.30 per cent FGN April 2029 bond and the 17.95 per cent FGN June 2032 bond, with each offer targeting between N40bn and N60bn per tranche.
If fully subscribed at the upper range, the government stands to raise N120bn monthly and N360bn cumulatively between July and September.
The bond auctions are scheduled for July 28, August 25, and September 29, with tenors of five years and seven years, respectively.
The reopenings will have term-to-maturity profiles ranging from three years and seven months to six years and eleven months, depending on the auction date.
This issuance strategy forms part of the Federal Government’s broader plan to finance budget deficits, manage debt sustainability, and support infrastructural development through long-term domestic borrowing.
