DMO allots N748.64 billion as FGN bond demand falls 13.5% in September
The Federal Government allotted N748.64 billion to investors at its September 2026 bond auction, while total subscriptions reached N1.49 trillion as demand moderated from the previous month. The post DMO allots N748.64 billion as FGN bond demand falls 13.5% in September appeared first on Nairametrics .
On Tuesday, the Debt Management Office (DMO) announced that it allocated N748.64 billion in NGN bonds to investors during its September 2026 auction. Total subscriptions across all instruments reached N1.49 trillion. This follows a 13.5% drop in bond demand from August. The DMO introduced a new 10-year bond maturing in September 2036 with a 16.79% coupon, while maintaining the 15.45% coupon on its reopened June 2038 bond.
The marginal yield on the reopened bond fell to 16.85% in September from 17.79% in August. The DMO sought to raise N1 trillion in the September 2026 bond auction, with a minimum investment of N50.001 million. Bond market data suggests borrowing costs are easing for longer-dated bonds, while investor demand remains selective. Government securities are tax-exempt under the Companies Income Tax Act and the Personal Income Tax Act.
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