In the just concluded week, values of FGN bonds traded at the over-the-counter (OTC) segment appreciated for all maturities tracked amid demand pressure.
Specifically, the 10-year 16.29% FGN MAR 2027, the 20- year 16.25% FGN APR 2037, and the 30-year
12.98% FGN MAR 2050 debts rose by N1.86, N2.26, and N1.14, respectively; their corresponding yields contracted to 12.36% (from 12.93%), 15.35% (from 15.73%), and 15.00% (from 15.20%), respectively.
However, the yield on the 15-year 12.50% FGN MAR 2035 stayed unchanged at 14.68%.
Elsewhere, the value of FGN Eurobonds
traded on the international capital market depreciated for all maturities tracked due to sustained bearish activity.
Specifically, the 10-year 6.38% JUL 12 2023, the 20-year 7.69% FEB 23 2038, and the 30-year 7.62% NOV 28 2047 lost USD 0.16, USD 1.20, and USD 1.18, while their corresponding yields expanded to 13.31% (from 12.46%), 12.51% (from 12.27%), and 12.11% (from 11.89%), respectively.
We note that traders’ sentiment will be shaped by the T-bill auction result over the course of the new week.
Cowry Research anticipates the 364-day T-bill rate to rise, hence we expect local OTC bond prices to decrease (and yields to increase) in the coming week…
📌 Editor’s Note: For content partnerships and collaborations, reach out via editor@naija247news.com
Naija247news Media Group LLC is committed to ethical, independent journalism that serves the public interest. Our editorial process prioritizes accuracy, fairness, and transparency in reporting. All content is fact-checked and held to the highest standards of integrity. Learn more in our full editorial policy here.
© 2025 Naija247news Media Group LLC. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten, or redistributed in whole or in part without prior express written permission from Naija247news Media Group LLC.
Reporting by Godwin Okafor, The Naija247news in Lagos, Nigeria.
