Ahead of the Next FGN Bond Auction Scheduled for September 22, 2021

Dear All,


The Federal Government of Nigeria (FGN), through the Debt Management Office, will be conducting a primary market bond auction on Wednesday, 22 September 2021.  


The government is seeking to raise up to NGN150bn via three (3) instruments which are re-openings. Given our analysis of the current yield environment vis-à-vis our bond valuation models, we present below our advised bid rates;



13.98% FGN FEB 2028                             11.30%-11.75%

12.40% FGN MAR 2036                            12.60%-12.80%

12.98% FGN MAR 2050                            12.80%- 12.90


Kindly find attached the full report.




Ahead of Next FGN Bond Auction September 2021


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