The Federal Government of Nigeria (FG) has successfully raised ₦596.465 billion from its December bond auction, surpassing the initial offer of ₦460 billion, reflecting robust investor appetite in the domestic debt market.

According to the Debt Management Office (DMO), the auction involved the re-opening of two existing FGN bonds, the August 2030 bond and the June 2032 bond. Domestic institutional investors, including pension funds and asset managers, dominated subscriptions, demonstrating continued confidence in government securities despite prevailing macroeconomic challenges.

Both bonds were allotted at marginal rates of approximately 17.2–17.3%, consistent with current market conditions. The oversubscription highlights the strong demand for safe, fixed-income investments within Nigeria’s financial market.

Market analysts note that the successful auction caps a year of sustained activity in the debt market, underlining the government’s reliance on domestic borrowing to finance fiscal needs. Visit www.jocomms.com for more news.