Total subscription to FGN Bond between January and September 2026 crossed a historic high of N13 trillion to N13.72 trillion, despite modest yields. The high demand for the FGN Bond was driven by large institutional investor demand and relatively attractive rates that encouraged pension funds, banks, and insurance companies to lock in returns. The FGN Bond auction during the period was on the back of sustained government reliance on the domestic debt market to fund fiscal obligations amid constrained external financing conditions. According to the FGN bond auction result obtained by THISDAY, the government through the Debt Management Office offered to raise N8.35 trillion to bridge the budget deficit in the nine months of 2026, but raised an estimated N7.14 trillion during the period.
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