DMO Hikes Spot Rates on 7-Year, 10-Year FGN Bonds
The Debt Management Office (DMO) raised N485.48 billion from its monthly bond auction held on Monday, as the authority prioritises the costs of its borrowing plan.
Total subscriptions for the reopened Federal Government of Nigeria (FGN) bonds totalled N931.51 billion, with most interest in the 10-year note, according to auction results.
At the auction, the Debt Office offered N750 billion worth of Federal Government of Nigeria (FGN) bonds across three reopenings: 5-year, 7-year and 10-year papers.
Investors’ subscription for the 5-Year reopening bond totalled N251.43 billion, versus the N250 billion offered for sale. The DMO allotted N88.79 billion to investors at the rate of 16%, down from 17.20% at the auction conducted in Dec 2025.
The authority raised N63.99 billion from 7-year reopening bonds at 16.15%, up from 15.74% at the previous auction in February. The DMO opened the auction with an offer of N200 billion, while investors subscribed for N217.87 billion.
Reflecting sustained interest in duration, the 10-year bond attracted the closest attention with total subscription totalling N462.21 billion against the N300 billion offer.
DMO allotted 10-year bonds worth N332.70 to investors at the rate of 16.64%, up from 15.50% in the February auction period. #DMO Hikes Spot Rates on 7-Year, 10-Year FGN Bonds Treasury Bills Yield Climbs as Nigeria’s Inflation Slows
