The Debt Management Office (DMO) has announced plans to raise N5.75 trillion through Federal Government of Nigeria (FGN) bond offers in the fourth quarter of 2026, comprising N1.75 trillion in October and N2 trillion each in November and December.
This planned issuance follows the allotment of N7.15 trillion in bonds between January and September, more than double the volume recorded during the same period in 2025, driven by substantial domestic financing requirements, an expanded national budget, and persistent revenue shortfalls.
Concurrently, Nigeria’s macroeconomic fundamentals showed positive momentum in the energy sector, as crude oil and condensate production rose to 1.72 million barrels per day in September, marking the fifth consecutive month that crude-only output exceeded the country’s OPEC quota.
In the fixed-income market, following a 350-basis-point cut in the Monetary Policy Rate, bond and treasury bill yields have partially rebounded due to heavy government borrowing demands.
Analysts maintain a short-to-medium duration preference to capture prevailing yields while limiting exposure to market repricing risks.
