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Funding issuanceNigeriaDeveloping story

DMO allots ₦748.64bn at September FGN bond auction; 10‑yr Sep‑2036 and Jun‑2038 reopen priced

On 14 September 2026 Nigerias Debt Management Office competitively allotted ₦748.64 billion at its domestic bond auction, splitting proceeds between a new 10‑year maturing September 2036 (marginal 16.79%) and a June 2038 reopening (marginal 16.85%). The DMO rejected a large share of bids, keeping issuance selective.

MSA Market DeskEvent 14 September 2026Reviewed 1 min read

The desk brief

On 14 September 2026 Nigerias Debt Management Office competitively allotted ₦748.64 billion at its domestic bond auction, splitting proceeds between a new 10‑year maturing September 2036 (marginal 16.79%) and a June 2038 reopening (marginal 16.85%). The DMO rejected a large share of bids, keeping issuance selective.

The immediate transmission will be via domestic banking system liquidity: banks and pension funds place naira into the allotted securities and repo/funding markets adjust as participants reallocate portfolios. This auction influences the naira government yield curve and domestic funding costs but does not by itself imply external capital flows or FX moves.

Watch the DMOs Q4 issuance calendar and the next Nigerian MPC decision for follow‑through on yields.

Sources & verification

Developing story

Further independent confirmation is required.

Public references supporting this brief.

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Price Discovery

Nigeria sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

15 priced bonds
9.18%8.18%7.18%6.18%5.18%20272033203920452051Nigeria 27 · Nov 2027 · 5.712%Nigeria 28 · Sept 2028 · 6.192%Nigeria 29 · Mar 2029 · 6.493%Nigeria 30 · Feb 2030 · 6.839%Nigeria 31 Jan · Jan 2031 · 7.177%Nigeria 31 Jun · Jun 2031 · 7.137%Nigeria 32 · Feb 2032 · 7.351%Nigeria 33 · Sept 2033 · 7.752%Nigeria 34 · Dec 2034 · 7.859%Nigeria 36 · Jan 2036 · 7.987%Nigeria 38 · Feb 2038 · 7.982%Nigeria 46 · Jan 2046 · 8.617%Nigeria 47 · Nov 2047 · 8.456%Nigeria 49 · Jan 2049 · 8.598%Nigeria 51 · Sept 2051 · 8.655%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Nigeria 27Nov 2027100.8135.712%
  • Nigeria 28Sept 202899.8756.192%
  • Nigeria 29Mar 2029104.1256.493%
  • Nigeria 30Feb 2030100.8756.839%
  • Nigeria 31 JanJan 2031105.6257.177%
  • Nigeria 31 JunJun 2031109.6257.137%
  • Nigeria 32Feb 2032102.2507.351%
  • Nigeria 33Sept 203398.0007.752%
  • Nigeria 34Dec 2034114.8757.859%
  • Nigeria 36Jan 2036104.1257.987%
  • Nigeria 38Feb 203897.8757.982%
  • Nigeria 46Jan 2046104.7508.617%
  • Nigeria 47Nov 204791.8758.456%
  • Nigeria 49Jan 2049106.3758.598%
  • Nigeria 51Sept 205195.8758.655%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

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