The Federal Government of Nigeria Savings Bond allotment fell by 8.5% to N6.12 billion in October 2026, down from N6.69 billion in September, according to data from the Debt Management Office (DMO).

The decline was the sharpest monthly fall since March, when allotments dropped by 34.8% to N3.86 billion. October’s result came despite the three-year savings bond offering an annual interest rate of 14.071%, while the two-year instrument carried a rate of 13.071%.

The DMO’s October allotment results showed that the three-year bond accounted for most of the funds raised during the month.

October savings bond allotment declines

The DMO allotted N6.12 billion across its two- and three-year Federal Government of Nigeria Savings Bond instruments in October, compared with N6.69 billion in the previous month.

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The two-year bond, which matures on October 14, 2028, attracted an allotment of N1.02 billion at an annual coupon of 13.071%. The three-year instrument, maturing on October 14, 2029, accounted for N5.11 billion at a coupon rate of 14.071%.

  • The two-year bond received 1,261 subscriptions, while the three-year instrument recorded 2,678.
  • Combined subscriptions for the two instruments stood at 3,939 in October.
  • The total October allotment of N6.12 billion was 8.5% lower than September’s N6.69 billion.
  • The three-year instrument accounted for about 83% of the total amount allotted during the month.

The October offer ran from October 5 to 9, with settlement scheduled for October 14. Coupon payments are scheduled quarterly, on January 14, April 14, July 14 and October 14.

Savings bond allotments fluctuate in 2026

The monthly figures show that savings bond allotments have varied throughout 2026, with the total rising and falling as the year progressed.

  • Allotments stood at N6.34 billion in January before declining to N5.91 billion in February and N3.86 billion in March. April recorded N3.64 billion, while the amount rose to N4.07 billion in May and N4.68 billion in June.
  • July allotments increased to N6.19 billion, based on the figures supplied.
  • August allotments fell by 5.3% to N5.86 billion.
  • September recorded a 14.1% increase to N6.69 billion, before October’s 8.5% decline.
  • The supplied monthly figures put cumulative allotments from January to October at N47.37 billion.

The figures indicate that October’s decline followed a strong September performance, although the latest allotment remained above the levels recorded in March, April, May and June.

Savings bonds attract higher annual allotments

Nairametrics earlier reported that the DMO opened its October 2026 savings bond offer with annual interest rates of 13.071% for the two-year instrument and 14.071% for the three-year bond.

The savings bonds are government securities available to individual investors, with interest paid quarterly and principal repaid at maturity.

Allotments between January and September 2026 reached N47.25 billion, according to an earlier Nairametrics report. This was N11.02 billion higher than the N36.23 billion recorded during the corresponding period of 2025.