FG RAISES ₦7.62TN FROM BOND MARKET IN EIGHT MONTHS

The Federal Government has raised ₦7.62 trillion from the domestic bond market between January and August 2026 as it continues to rely on borrowing to finance its budget and meet other fiscal obligations.

The funds were raised through eight Federal Government of Nigeria bond auctions conducted by the Debt Management Office during the period.

The latest borrowing reflects the government’s increased use of the domestic fixed-income market to raise funds amid ongoing financing needs.

The DMO is responsible for issuing FGN bonds on behalf of the Federal Government, with the securities serving as debt instruments through which investors lend money to the government for specified periods.

FGN bonds are issued to finance fiscal deficits, refinance maturing obligations, develop the domestic debt market and diversify government sources of financing.

The latest figure also represents a significant increase from the ₦5.08 trillion raised through domestic bond auctions during the first six months of the year.

Data from the DMO showed that the government raised ₦5.08 trillion between January and June 2026, compared with ₦2.86 trillion during the corresponding period of 2025.

Investor demand for government securities has remained strong despite the increased supply. Total subscriptions during the first half of 2026 reached ₦9.04 trillion, more than double the ₦4.37 trillion recorded in the same period of 2025.

However, the heavier reliance on domestic borrowing comes amid concerns over Nigeria’s rising debt-service obligations and the overall cost of government borrowing.

The government has continued to use the bond market as an important source of funding while pursuing measures to strengthen revenue collection and reduce fiscal pressures.

The latest borrowing figures highlight the growing importance of the domestic capital market in financing government expenditure and managing Nigeria’s fiscal obligations.