DMO unveils N4tn FGN bond auction plan for Q3 2026 with July-September reopenings

The Debt Management Office has released a provisional N4 trillion FGN Bond auction plan for the third quarter of 2026, with auctions set for July 20, August 17 and September 14. Each session will reopen existing bonds: on July 20 the 22.60% FGN JAN 2035 (N500‑600 bn), the 16.2499% FGN APR 2037 (N400‑500 bn) and the 15.45% FGN JUN 2038 (N400‑600 bn) will be offered; the August auction drops the April 2037 paper and offers N600‑800 bn each on the Jan 2035 and Jun 2038 bonds, and the September auction repeats the same two‑bond structure with the same N600‑800 bn range. Across the quarter the lower bounds total roughly N4 trillion.

The plan reflects the Federal Government’s expanded 2026 borrowing target of N29.2 trillion to fund a larger budget deficit and refinance maturing debt. By reopening existing benchmarks the DMO aims to deepen liquidity, tighten bid‑ask spreads and lengthen the debt maturity profile, which reduces refinancing risk. Analysts say the widening offer sizes signal strong demand amid elevated rates, meaning yields are likely to stay elevated as government competes with corporate issuers for funds.

Investors should note the calendar is provisional and amounts may shift with market conditions. If you are considering FGN bonds, note the specific instruments, amounts and dates above, and watch for any DMO updates that could affect pricing or availability.

SOURCE: https://nairametrics.com/2026/06/30/dmo-unveils-n4-trillion-fgn-bond-auction-plan-for-q3-2026/