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.