The Federal Government raised N5.08 trillion from the domestic bond market in the first half of 2026, representing a 77.8% increase from the N2.86 trillion recorded during the same period in 2025.
The rise in borrowing came amid stronger investor appetite, with total subscriptions exceeding N9 trillion despite a decline in average borrowing costs. Data from the Debt Management Office (DMO) showed that investors continued to show confidence in Federal Government securities as demand remained strong.
The government increased its bond offerings significantly, issuing N4.95 trillion worth of bonds between January and June 2026, compared with N1.85 trillion in the corresponding period of 2025.
Although borrowing expanded, marginal interest rates eased, with average rates declining from about 19.84% in 2025 to 16.78% in 2026, reflecting improved market conditions.
The figures highlight Nigeria’s growing reliance on domestic debt financing and sustained investor interest in the country’s fixed-income market.
