The Debt Management Office (DMO) announced on Tuesday, October 28, that the Federal Government of Nigeria (FGN) bond auction for October recorded a 307.6% oversubscription, highlighting strong investor demand.
According to the DMO’s 2025 FGN bond auction results, subscriptions totaled N1.06 trillion against the N260 billion offered, while allotments fell by 45.5% to N313.77 billion in October from N576.62 billion in September.
In October, the DMO offered two instruments, the 17.945% FGN August 2030 bond 5-year reopening and the 17.95% FGN June 2032 bond 7 year reopening, each with an offer of N130 billion.
The 5 year bond received N212.66 billion in subscriptions from 19 successful bids, while the 7-year bond attracted N845.63 billion from 75 successful bids.
Most of the DMO’s allotment went to the 7-year tenor, which received N225.97 billion down 47.6% from N488.83 billion in September.
The 5-year tenor received N87.8 billion, unchanged from the previous month.
The 5-year paper cleared at 15.83%, slightly lower than 16% in September, while the 7-year bond settled at 15.85%, down from 16.2% in the previous month.
The range of bids also narrowed during the review period, in October, investors priced the 5-year within the range of 15 percent to 16.5 percent compared to September, when the range was within 15 percent to 17.95 percent.
Similarly, the 7-year range eased to 14.5 percent to 17.4 percent in October from 14.95 percent to 19.2 percent in September.
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