Government accounts for N11.08trn bond listings on NGX
Government securities dominated new and supplementary listings on the Nigerian Exchange Limited (NGX) in the first nine months of 2026, accounting for approximately N11.08 trillion, or 80per cent of the N13.86 trillion in identifiable listing value recorded during the period.
This is according to the latest Nigerian Exchange Regulation (NGX RegCo) X-Compliance Report, which detailed securities admitted to the Exchange during the year.
The figures highlight the significant contribution of government securities to capital-market activity, with Federal Government instruments alone accounting for approximately N10.535 trillion.
The report recorded approximately 109 transactions involving government securities, corporate debt, rights issues, public offers, private placements and other instruments. Federal Government securities represented the largest single category by listing value.
The report also captured additions to existing FGN bond lines, including the 15.45% FGN June 2038, 16.2499% FGN April 2037 and 22.60% FGN January 2035 bonds.
Federal Government securities accounted for approximately N10.535 trillion in identifiable listing value during the period.
The FGN Roads Sukuk Company 1 Plc contributed another N300 billion through its seven-year 19.75% Ijarah Sukuk, bringing the Federal Government-related total to N10.835 trillion.
Lagos State Government bonds added N244.815 billion, comprising a N230 billion Series 4 10-year 16.25% bond and a N14.815 billion Series 3 five-year 16% green bond.
The 15.45% FGN June 2038 bond appeared in multiple listings, including additions valued at N710.01 billion, N1.373 trillion and N354.63 billion.
Together, the Federal Government securities, Sukuk and Lagos State bonds accounted for approximately N11.08 trillion, leaving about N2.78 trillion attributable to corporate and other non-government transactions.
The concentration of government securities reflects the continued use of existing FGN bond lines to mobilise financing through the domestic capital market. Several instruments appearing prominently in the NGX RegCo report were also featured in recent Debt Management Office (DMO) bond auctions.
