The Traffic

Nigeria to Raise ₦80 Billion Through Bond Auction on July 28

Nigeria’s Debt Management Office (DMO) will auction ₦80 billion in government bonds on July 28, aiming to attract investment through two separate issuances. The bonds include a ₦20 billion tranche maturing in April 2029 with a 19.30% annual coupon, and a ₦60 billion tranche due in June 2032 yielding 17.95% annually.

Offered in ₦1,000 units, the bonds require a minimum purchase of ₦50.001 million. According to the DMO, these instruments are fully guaranteed by the federal government and qualify as tax-exempt for certain investors, such as pension funds. They will be tradable on Nigerian stock exchanges to enhance liquidity.

Although no specific projects were outlined for the use of proceeds, such bonds typically finance public infrastructure and bridge fiscal gaps. This auction comes slightly below the June 2025 bond sale, which raised ₦100 billion.

By Haruna Yakubu Haruna