DMO Targets N5.8 Trillion from Q4 Bond Auctions
The Debt Management Office (DMO) plans to raise N5.8 trillion in the fourth quarter of 2026 (Q4) through monthly bond auctions to finance Nigeria’s budget deficit.
The Federal Government of Nigeria (FGN) bond target will be raised across three auction activities, an increase from the N3.3 trillion allotted to investors in the debt market in A3.
According to the calendar, primary market auctions are scheduled for 19 October, 16 November, and 14 December across the reopened FEB 2034, SEP 2036, and JUN 2038 maturities.
Trading activity in FGN bonds was bearish in the secondary market. The average benchmark yield rose 16 basis points (bps) to 16.23%. Year-to-date, yields are up 30 bps to 65 bps across the curve.
Yields rose 26 bps to 16.61% (3-year), 20 bps to 16.70% (5-year), and 41 bps to 16.76% (7-year), while the 10-year held at 16.43% and the 20-year at 14.69%.
Yields on 3-Year FGN bonds rose 26bps to 16.61%, traders said in a note. The FGN bond with a 5-year maturity saw a 20 bps yield surge to 16.70%, and 7-year papers climbed 41 bps to 16.76%.
10-year Nigerian bond was held at 16.43%, and the 20-year paper closed at 14.69%, AIICO Capital Limited said in an investor note released on Monday. Fitch Revises Nigeria’s Outlook to Positive, Anticipates Tinubu 2027 Election Win
