By Seun Ibiyemi
The Federal Government of Nigeria (FG), acting through the Debt Management Office (DMO), successfully raised a total of N3.96billion from the October 2025 issuance of the Federal Government of Nigeria Savings Bonds (FGNSB).
This result reflects a notable rise in retail investor participation compared to the previous month.
The DMO offered two tranches for the October issuance, with the offer period running from October 6 to 10, 2025. The two-year FGN Savings Bond, due October 15, 2027, was allotted with an interest rate of 14.062 percent per annum, raising N779.05million from 1,052 successful investors.
The three-year FGN Savings Bond, due October 15, 2028, proved to be significantly more popular, attracting stronger demand. This longer-term tranche raised N3.19billion from 1,435 successful subscriptions at a higher coupon rate of 15.062 percent per annum.
The total amount raised in October N3.96billion marks a significant increase from the N3.05billion raised in September 2025.
This rise occurred even though the interest rates for the October bonds were lower than the 15.541 percent and 16.541 percent offered the previous month.
The sustained investor appetite for the savings bonds underscores growing confidence in government securities. These instruments offer retail investors a safe and predictable investment option, with settlement for the October issuance on October 15, 2025. Coupon payments will be made quarterly on January 15, April 15, July 15, and October 15 each year until maturity. For the government, the successful issuance provides crucial support for its domestic borrowing programme, utilizing funds from small investors to finance national projects.