Federal Government of Nigeria (FGN) Savings Bond allotments rose by N11.02 billion to N47.25 billion in the opening nine months of 2026, from N36.23 billion recorded in the corresponding period of 2025.
This is according to Nairametrics’ examination of the Debt Administration Office’s (DMO) monthly auction results for the FGN Savings Bond.
The expand was supported by stronger allotments in January, February, July, August and September, despite the truth that some months recorded decreased allocations than in the corresponding period of 2025.
Savings bond allotments arrive at N47.25 billion
The DMO allotted N47.25 billion by method of the FGN Savings Bond betwixt January and September 2026, compared together with N36.23 billion during the same period in 2025.
- January allotments rose from N4.31 billion in 2025 to N6.34 billion in 2026, although February increased from N4.18 billion to N5.91 billion.
- March and April recorded declines, using allotments falling from N4.46 billion and N4.34 billion in 2025 to N3.86 billion and N3.64 billion respectively in 2026.
- July allotments increased to N6.19 billion from N4.27 billion, whereas August rose to N5.86 billion from N3.32 billion.
- September recorded the highest monthly allotment in the period at N6.69 billion, up from N3.05 billion in September 2025.
The September finding followed allotments of N6.19 billion in July and N5.86 billion in August, contributing to the stronger second-half output.
Government borrowing remains elevated
The develop in savings bond allotments comes against the backdrop of a larger Federal Government borrowing programme and a rising society debt stock.
- Nigeria’s complete community debt stood at N166.79 trillion as of June 30, 2026, up from N159.35 trillion at the finish of March, whereas domestic debt accounted for N91.59 trillion, or 54.91% of the overall.
- FGN bonds remained the largest component of Federal Government domestic debt, together with an outstanding value of N64.84 trillion, representing 74.53% of the portfolio.
- The Federal Government increased its planned borrowing for 2026 to N29.20 trillion following an expansion in the proposed budget size and fiscal deficit.
- The DMO issues FGN securities to guide government financing needs and refinance maturing obligations.
The elevated borrowing requirement provides the broader circumstance for continued issuance across distinct Federal Government securities, including savings bonds.
FGN Savings Bonds grade retail investors
FGN Savings Bonds are designed as accessible government securities, together with units sold at N1,000 and a minimum subscription of N5,000.
Investors can produce supplementary subscriptions in multiples of N1,000, theme to a maximum subscription of N50 million.
The securities are backed by the entire faith and credit of the Federal Government of Nigeria and qualify as government securities under appropriate tax laws.
The bonds qualify as an investment instrument for trustees under the Trustee Investment Act and as a liquid advantage for banks’ liquidity ratio calculations.
The FGN Savings Bonds are moreover listed on the Nigerian Swap, providing investors using an added avenue for participation in government securities.
Source: FGN Savings Bond allotments jump N11 billion to N47.25 billion in 9 months
