Nigeria government bonds · auction 28 Jul 2025 · NGN
Nigeria bond auction, 28 Jul 2025: 7-year at 15.90%
2 bond lines from the Debt Management Office, Nigeria’s own result. Rates are the marginal (stop) rate, percent per annum; uniform-price auctions, so every successful bid pays it. Information, not advice.
Headline: 7-year bond 17.95% FGN JUN 2032
15.90%
Largest amount accepted at this auction
Change vs previous 7-year sale
−205 bp
17.95% on 23 Jun 2025
Accepted
NGN 185.9bn
Against NGN 80.0bn on offer
Bid cover
1.62×
Bids of NGN 300.7bn ÷ accepted
Results
Every line, 2 in all
Amounts in NGN millions. Change is in basis points (100 bp = 1 percentage point) from the previous sale of the same tenor, whenever it was. Bid cover is bids received divided by the amount accepted.
- 5-year19.30% FGN APR 2029matures 17 Apr 2029
- Sale
- reopening
- Coupon
- 19.300%
- Rate
- 15.690%
- Bid range
- 15.00–20.00%
- Previous
- 17.750% 2025-06-23
- Change, bp
- −206
- Offered, NGNm
- 20,000
- Bids, NGNm
- 39,075
- Accepted, NGNm
- 13,430
- Bid cover
- 2.91×
- Source
- notice
- 7-year17.95% FGN JUN 2032matures 25 Jun 2032
- Sale
- reopening
- Coupon
- 17.950%
- Rate
- 15.900%
- Bid range
- 15.00–19.00%
- Previous
- 17.950% 2025-06-23
- Change, bp
- −205
- Offered, NGNm
- 60,000
- Bids, NGNm
- 261,597
- Accepted, NGNm
- 172,502
- Bid cover
- 1.52×
- Source
- notice
| Bond | Sale | Coupon | Rate | Bid range | Previous | Change, bp | Offered, NGNm | Bids, NGNm | Accepted, NGNm | Bid cover | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5-year19.30% FGN APR 2029matures 17 Apr 2029 | reopening | 19.300% | 15.690% | 15.00–20.00% | 17.750% 2025-06-23 | −206 | 20,000 | 39,075 | 13,430 | 2.91× | notice |
| 7-year17.95% FGN JUN 2032matures 25 Jun 2032 | reopening | 17.950% | 15.900% | 15.00–19.00% | 17.950% 2025-06-23 | −205 | 60,000 | 261,597 | 172,502 | 1.52× | notice |
Source notice: dmo.gov.ng. Compiled by Afronomics, data updated 2026-10-19. Information, not advice.
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Afronomics (2026). Nigeria government bond auction, 28 Jul 2025, compiled from the Debt Management Office, Nigeria. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/markets/bonds/nigeria/2025-07-28