The Federal Government of Nigeria has listed a new bond and additional units of an existing bond worth a combined ₦1.6 trillion on the Nigerian Exchange (NGX), following its September bond auction.
The listings comprised ₦888.63 billion worth of the new 16.79 per cent FGN September 2036 bond and additional units valued at approximately ₦710.01 billion of the existing 15.45 per cent FGN June 2038 bond, according to the NGX Weekly Market Report for the week ended October 2, 2026.
The two securities were listed on September 29, following an auction conducted by the Debt Management Office (DMO) on September 14 and settlement on September 16.
The September 2036 bond was a new issue, while the June 2038 bond was a reopening of an existing security originally issued in June 2023. A reopening allows the government to issue additional units of an existing bond without creating an entirely new security.
According to the DMO's September auction results, the new September 2036 bond attracted subscriptions of ₦546.90 billion against an offer of ₦400 billion. The reopened June 2038 bond attracted subscriptions of ₦947.83 billion against an offer of ₦600 billion.
The DMO recorded a marginal rate of 16.79 per cent for the new September 2036 bond and 16.85 per cent for the reopened June 2038 bond. However, the June 2038 bond retained its original coupon rate of 15.45 per cent.
The subsequent NGX listing makes the securities available for trading on the exchange's secondary market, where investors can buy and sell existing bonds.