FG targets N350bn in April 2025 bond auction
The Federal Government of Nigeria, through the Debt Management Office (DMO), has released details of its April 2025 bond offer, seeking to raise a total of N350 billion from the domestic debt market. The offer comprises two re-opened Federal Government of Nigeria (FGN) bonds and is part of the government’s ongoing efforts to finance the […]
The Debt Management Office (DMO)
The Federal Government of Nigeria, through the Debt Management Office (DMO), has released details of its April 2025 bond offer, seeking to raise a total of N350 billion from the domestic debt market.
The offer comprises two re-opened Federal Government of Nigeria (FGN) bonds and is part of the government’s ongoing efforts to finance the 2025 budget and manage public debt through domestic borrowing.
Daily Trust reports that the FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the DMO for and on behalf of the Federal Government.
The FGN has an obligation to pay the bondholder the principal and agreed interest as and when due.
A circular issued by the DMO indicated that the latest bond auction will take place on Monday, April 28, 2025, while the settlement date is scheduled for Wednesday, April 30, 2025.
According to the DMO, the issuance is in line with the provisions of the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, Laws of the Federation of Nigeria 2004.
The bond offer consists of two re-openings of previously issued instruments which include an offer of N200 billion in the 19.30% FGN APR 2029 bond, which has a maturity of five years and the offer of N150 billion in the 19.89% FGN MAY 2033 bond, which has a maturity period of nine years.
Since these are re-openings, the bonds retain their original fixed coupon rates of 19.30% and 19.89% respectively.
Each unit of the bonds is priced at N1,000, with a minimum subscription amount of N50,001,000 while additional subscriptions must be made in multiples of N1,000.