DMO raises N5.06 billion from November savings bonds, down 17.4%

The Debt Management Office (DMO) raised N5.06 billion through its November 2026 Federal Government of Nigeria (FGN) Savings Bond offer, representing a 17.4% decline from the N6.12 billion allotted in October.

This is according to the latest circular published by the DMO on its website on Thursday.

The November allotment comprised N746.01 million from the two-year bond and N4.31 billion from the three-year instrument, according to the DMO’s allotment results.

The offer, which ran from November 2 to 6, settled on November 11, with annual interest rates of 13.25% and 14.25% for the two-year and three-year bonds, respectively.

The decline in allotment was accompanied by a reduction in the number of subscriptions received.

The combined November allotment was approximately N1.06 billion lower than October’s N6.12 billion, indicating a decline in the amount allocated to investors through the retail government securities offer.

Despite the lower allotment, the DMO increased the interest rates offered on both savings bond tenors in November.

Nairametrics earlier reported that the DMO opened its November 2026 FGN Savings Bond offer, setting the two-year rate at 13.25% and the three-year rate at 14.25% per annum.

The November result follows a period of higher allotments in the retail government securities market during the first nine months of 2026.

The savings bond programme forms part of the government’s domestic borrowing instruments, while the DMO also manages larger FGN bond issuances. In June 2026, the agency unveiled an approximately N4 trillion FGN bond auction plan for the third quarter of the year.

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