Investors migrate to bonds market as FG bond subscription level hits 350 percent in July

Hunger for profit maximisation as well as the dearth of profitable investment instruments compelled investors to migrate to the bonds market where they pumped a whopping N470 billion in Federal government’s July bonds auction worth only N130 billion.

As a result of the massive interest in the bond, the subscription level is over 350 percen or N350 billion. The data are contained on the Debt Management Office’s website. .

The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for the 12.5 per cent FGN January 2026 bonds; N60.32bn for the 12.5 per cent FGN March 2035 bonds; N130.27bn for the 9.8 per cent FGN July 2045 bonds; and N207.57bn for the 12.98 per cent FGN March 2050 bonds.

The 12.5 per cent FGN January bond was offered for N25bn, while the other three bonds were offered for N35bn each.

The auction results published on the DMO site on Wednesday said that 36, 58, 70 and 29 were successful bids for the total bids for each bonds auction of 97, 87, 131 and 189 bids.

According to the DMO, successful bids for the 12.5000 per cent FGN January 2026, 12.5000 per cent FGN March 2035, 9.80 per cent FGN July 2045 and 12.9800 per cent FGN March 2050 were allotted at the marginal rates of six per cent, 9.5 per cent, 9.8 per cent and 9.95 per cent respectively.