Ahead of FGN Bond Auction Scheduled for January 19th, 2022

Dear All, 

The Federal Government of Nigeria (FGN), through the Debt Management Office, will be conducting a primary market bond auction on Wednesday, 19 January 2022.  

The government is seeking to raise between NGN140bn and NGN160bn via two (2) instruments. one of the issues (the Jan 2026 instrument) is a re-opening issue, while the other (the Jan 2042 instrument) is a new issue. Given our analysis of the current yield environment vis-à-vis our bond valuation models, we present below our advised bid rates;

12.50% FGN JAN 2026                        11.45%-11.80%

               FGN JAN 2042                        12.85%-13.00%

Kindly find attached the full report.


Next FGN Bond Auction January 2022


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