The Federal Government is set to raise ₦900 billion through th reopening of three federal bonds at its January 2026 auction.
Reopened bonds enable the government to raise funds using existing instruments with established coupon rates, giving investors greater certainty while lowering the cost of issuing new debt.
According to a circular released on Monday by the Debt Management Office (DMO), the auction is scheduled for January 26, 2026, with settlement fixed for January 28, 2026.
The January auction forms part of the FGN’s wider domestic borrowing strategy designed to fund budgetary commitments, provide investors with stable long-term investment options, and deepen the domestic debt market.
The offer covers both medium- and long-term bonds, allowing investors to choose from different maturity profiles.
The auction features three reopened bonds, targeting ₦300 billion from the 18.50 per cent FGN February 2031 bond, ₦400 billion from the 19.00 per cent FGN February 2034 bond, and ₦200 billion from the 22.60 per cent FGN January 2035 bond.
Each bond is priced at ₦1,000 per unit, with a minimum subscription of ₦50,001,000 and additional purchases in multiples of ₦1,000.
The coupon rates are fixed, while successful bidders will pay prices based on the yield-to-maturity that clears the auction volume, plus any accrued interest.
Interest payments are made twice yearly, and the principal will be repaid in full at maturity under a bullet repayment structure.
DMO data show that total bond allotments in 2025 stood at about ₦5.12 trillion, reflecting strong investor participation and sustained demand for government securities.