According to the Debt Management Office,the Federal Government plans to raise N900 biillion from its January 2026 bond auction. Eoubling the N450 billion raised in January 2025. This move shows increased pressure on government finances and a stronger reliance on domestic borrowing to meet funding and refinancing needs.
the auction will involve three reopened FGN bonds: N300bn from the 18.50% February 2031 bond, N400bn from the 19.00% February 2034 bond, and N200bn from the 22.60% January 2035 bond. Together, these make up the full N900bn offer, PUNCH reports.
Compared to January 2025, the government is now borrowing more through longer-term (10-year) bonds, which account for about two-thirds of the total offer. This suggests an effort to reduce short-term repayment pressure, even though the interest rates are higher, making borrowing more expensive.
Despite the increased borrowing, the Minister of Finance, Wale Edun, said the government wants to reduce dependence on loans and focus more on revenue generation and domestic resource mobilisation. He noted that while international borrowing remains an option, improving tax revenue and fiscal stability is now the main priority.
