The Federal Government of Nigeria has raised a total of ₦3.96 billion from the October 2025 Federal Government of Nigeria Savings Bonds, according to the Debt Management Office (DMO).
Introduced in 2017, the FGN Savings Bond programme was created to deepen the domestic bond market, promote financial inclusion, and give retail investors access to secure and low-risk government securities. The DMO stated that the October 2025 allotment was higher than the ₦3.05 billion recorded in September, showing an increase in investor participation.
For the October issuance, the government offered two tranches of savings bonds — a two-year FGN Savings Bond due October 15, 2027, and a three-year FGN Savings Bond due October 15, 2028.
The two-year FGN Savings Bond was allotted at an interest rate of 15.541% per annum, raising ₦631.762 million from 793 successful subscriptions. At an interest rate of 14.062% per annum, another two-year bond recorded 1,052 total subscriptions valued at ₦779.047 million. The bonds were issued at ₦1,000 per unit, with a minimum subscription of ₦5,000 and in multiples of ₦1,000 thereafter, up to a maximum of ₦50 million.
Meanwhile, the three-year FGN Savings Bond attracted more investor interest, raising ₦3,185.695 million with 1,435 successful subscriptions at a coupon rate of 15.062% per annum. The DMO said, “The offer period for both instruments was held between October 6 and 10, 2025, with settlement taking place on October 15, 2025.”
Coupon payments are scheduled quarterly on January 15, April 15, July 15, and October 15 each year until maturity. The DMO also confirmed that the three-year FGN Savings Bond due September 2028 recorded an allotment of ₦2.416 billion at an interest rate of 16.541% per annum from 1,246 successful investors.