Nigeria Bond Yield Rises to 15.94% Ahead of April Supply
Fixed-interest security investors stayed quiet in the secondary market for Nigerian government bonds ahead of the April auction scheduled for next week.
The average yield climbed 1bp to 15.94%, signalling dampened domestic investor confidence and softening demand for naira-denominated sovereign debt.
Investment analysts observed yield expansions at the short (+8bps) end of the curve offset contractions across the long (-11bps) end of the curve.
The Debt Management Office (DMO) is set to offer ₦700 billion across the re-openings of the 17.945% FGN Aug 2030, 17.95% FGN Jun 2032, and 22.60% FGN Jan 2035.
Across the curve, yields were mostly stable with slight movements observed at select maturities. The Apr 2029 bond saw a notable 48bps uptick, while the Jan 2042 maturity declined by 52bps, reflecting some selective buying at the long end.
Other maturities traded largely flat, indicating a wait-and-see approach by market participants. Fixed-income market analysts expect the bond auction to attract significant demand as investors continue to bet on the naira curve. NTB Yield Falls after CBN Keeps Auction Spot Rates
