The Federal Government of Nigeria (FGN), through the Debt Management Office, will be conducting a Primary Market Bond Auction on Monday, 21st March 2022.
The Government is seeking to raise between NGN140bn and NGN160bn via two (2) instruments. The two instruments (Jan 2026 and Jan 2042) are re-opening issues. 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 10.10%-10.65%
13.00% FGN JAN 2042 12.60% – 13.00%
