By Ayo Kehinde
The Federal Government of Nigeria has raised N4.678 billion through its June 2026 Savings Bond issuance, signalling growing retail investor interest in government-backed fixed-income securities.
According to allotment results released by the Debt Management Office (DMO) on Wednesday, the amount raised exceeded the N4.074 billion recorded in May 2026, representing an increase of about N604 million or nearly 15 percent.
The June Savings Bond offer, which was open for subscription between June 1 and June 5, consisted of two instruments: a two-year bond due in June 2028 with a coupon rate of 13.777 percent, and a three-year bond due in June 2029 offering a higher coupon rate of 14.777 percent.
Data from the DMO showed that investors overwhelmingly preferred the three-year bond.
The 14.777 per cent FGN Savings Bond due June 2029 attracted subscriptions worth N3.802 billion from 2,282 successful investors, accounting for more than 81 percent of the total amount raised.
In comparison, the 13.777 percent FGN Savings Bond due June 2028 recorded allotments of N876.188 million from 1,254 successful subscriptions.
The stronger demand for the longer-tenor instrument suggests that investors are increasingly willing to lock in higher yields for an extended period, particularly amid prevailing economic uncertainties and the search for stable investment returns.
Interest on both bonds will be paid quarterly on September 10, December 10, March 10 and June 10 throughout their respective tenors.
The performance of the June offer underscores sustained confidence in the Federal Government’s retail debt programme, which provides individuals with access to low-risk investment opportunities while helping to finance government obligations.
Introduced to deepen the domestic debt market and promote a savings culture, the FGN Savings Bond allows Nigerians to invest in government securities with relatively modest amounts.
The bonds are backed by the full faith and credit of the Federal Government, making them one of the safest investment options available to retail investors.
The DMO is expected to announce its next monthly savings bond offer in line with its issuance calendar.
