The Debt Management Office (DMO) has released a provisional bond auction calendar, indicating that the Federal Government plans to raise approximately N4 trillion from the domestic debt market in the third quarter of 2026.
The issuance programme, released to investors on Monday, June 29, covers three auction dates — July 20, August 17 and September 14 — and will be executed through the reopening of existing FGN bonds rather than the issuance of new instruments.
Under the July 20 schedule, the DMO will offer three securities: the 22.60% FGN JAN 2035, the 16.2499% FGN APR 2037 and the 15.45% FGN JUN 2038. Each bond will be reopened for amounts ranging from N400 billion to N600 billion, with the January 2035 paper carrying a term-to-maturity of 8 years and 6 months at that auction.
The August 17 auction will simplify the lineup by dropping the April 2037 bond, leaving only the January 2035 and June 2038 papers on offer. The same two-bond structure will return on September 14, with each instrument again set at between N600 billion and N800 billion.
The DMO said the calendar is provisional and subject to change at short notice. Based on the lower end of the disclosed ranges, the three auctions together amount to roughly N4 trillion in planned borrowing.
