The Debt Management Office (DMO) successfully allotted N929.32 billion in FGN bonds during its July 2026 auction, drawing total subscriptions of N1.74 trillion. Despite an initial offering of N1.2 trillion, the DMO accepted only 77.4% of the volume.

The auction featured three instruments: the 2035, 2037, and 2038 bonds. The 16.2499% FGN April 2037 bond saw the highest demand, with N665.19 billion in subscriptions and N381.46 billion allotted. Marginal rates for the instruments were set at 18.34%, 18.35%, and 18.40% respectively. This outcome signals sustained investor confidence in government securities, particularly in longer-dated papers, as market participants look to lock in yields amid shifting interest rate expectations.