Nigeria’s Debt Office to Reopen N1.2trn Bonds for Subscription
Debt Management Office (DMO) is scheduled to hold its monthly auction on June 22, targeting N1.2 trillion across two reopened bonds with 10 and 20-year tenors.
The authority plans to raise N1.2 trillion from bond subscriptions in June, following an underperformance last month amid an inverted yield curve.
The yield on Nigerian borrowing papers inverted as investors earn more from taking shorter-term bets than longer tenors.
The Nigerian debt managers will offer N600 billion each in 10-year and 20-year bonds, with settlement set for 24 June 2026.
The issuance forms part of the government’s domestic borrowing programme and comes amid elevated yields in the fixed-income market.
The bond market closed on a negative note, with the average yield rising by 7 basis points (bps) to 16.89% ahead of the June primary market auction for local bonds.
Instruments in the short end of the curve, including NOV-29 (+23bps), JUL-30 (+29bps), and FEB-31 (+34bps), recorded the most decline – meaning bond prices declined while yields surged.
The yields on FEB-34 declined by 17 bps, and JAN-35 fell by 21 bps, reflecting buying interest in local bonds. Sell Pressure Hits Nigerian Bonds, Yield Rises to 16.70%
