The Federal Government of Nigeria has successfully listed its June 2025 issuance of Savings Bonds worth ₦4.01 billion on the Nigerian Exchange Limited (NGX), reinforcing its commitment to deepening retail participation in the domestic capital market and broadening access to secure investment options for Nigerians.
According to a market bulletin released by the NGX on Wednesday with reference number NGXREG/IRD/MB48/25/07/09, the total issuance is composed of two tranches with attractive coupon rates and staggered tenors designed to suit the risk appetites and savings goals of various investor classes.
The first instrument, a two-year bond tagged FGS JUN 2027, has a coupon rate of 16.121%. A total of ₦875.06 million was raised through the issuance of 875,062 units. The bond was issued on June 11, 2025, and it matures on June 11, 2027. It is listed under the symbol code FGS202791 with the ISIN NGFGS2027913.
The second tranche, a three-year bond labeled FGS JUN 2028, drew stronger investor interest, raising ₦3.13 billion from 3,130,241 units. This bond carries a higher coupon rate of 17.121% and matures on June 11, 2028. It trades under the symbol FGS202892 and has the ISIN NGFGS2028929.
For both bonds, coupon payments will be made quarterly—on March 11, June 11, September 11, and December 11—throughout the tenor of the instruments, ensuring periodic income for bondholders.
The listing of these savings bonds is part of the Federal Government’s ongoing initiative to enhance financial inclusion and encourage long-term savings culture among Nigerians. By offering retail investors access to risk-free government securities with competitive returns, the government aims to mobilize domestic capital to support infrastructure development and national priorities without over-reliance on external borrowing.
Savings bonds, unlike traditional FGN bonds, are specifically designed for individual investors, providing them with an opportunity to invest in Nigeria’s debt market with low entry barriers, guaranteed principal, and tax-free interest payments.
With interest rates trending upward and inflationary pressures moderating, analysts believe the relatively high coupon rates on the June 2025 bonds will likely attract significant retail participation, particularly from risk-averse investors seeking stability amid economic uncertainty.
Officials at the Nigerian Exchange welcomed the listing, noting that savings bonds continue to play a crucial role in strengthening investor confidence in Nigeria’s debt capital market and fostering financial literacy among the public.
“The listing of these instruments is a reflection of the growing appetite for government-backed securities and a testament to the efficiency of our capital markets in mobilising domestic resources for national development,” an NGX spokesperson stated.
This move follows the earlier listing of ₦4.3 billion April 2025 Savings Bonds, also issued by the Debt Management Office (DMO), underscoring the consistency and predictability of the FGN savings bond programme.
The continued issuance and listing of FGN Savings Bonds come at a time when Nigeria is seeking to diversify its funding sources and reduce pressure on foreign exchange reserves by tapping into local markets.
The Debt Management Office is expected to launch future tranches in coming months, as part of its monthly issuance calendar aimed at supporting fiscal operations and expanding retail debt participation.
As of July 2025, the FGN Savings Bond programme remains one of the most accessible investment platforms for Nigerians, with interest rates exceeding commercial bank deposit yields and a reliable quarterly payout structure.