Nigeria plans 4,000 billion naira in bond borrowing
By the AFREEQUE newsroom, based on Business Day Nigeria
The Nigerian government plans to raise 4,000 billion naira through two bond auctions in November and December 2026. Each operation will involve 2,000 billion naira, in a market where the average government bond yield reached 16.37%, according to the Nigerian Debt Management Office.
The Federal Government of Nigeria plans to raise 4,000 billion naira through two bond auctions scheduled for 16 November and 14 December, with 2,000 billion naira each, according to the revised calendar published by the Debt Management Office (DMO), the Nigerian agency responsible for public debt management. The issues will cover four federal bonds maturing between 2028 and 2033.
The bond maturing in August 2030 represents the largest share, at 1,500 billion naira, or 37.5% of the programme, ahead of the March 2028 bond with 1,400 billion, or 35%. The April 2029 and May 2033 securities will account for 500 billion and 600 billion naira respectively, reports Business Day Nigeria.
The programme comes as the average yield on federal bonds increased by 20 basis points to 16.37% during the week ended 6 November, according to the Financial Markets Dealers Association (FMDA). The seven-year bond yield rose by 104 basis points to 17.77%, while the 15-year yield increased by 52 points to 15.41%.
Meanwhile, banking system liquidity increased by 15.36% over one week, to 8,505 billion naira from 7,373 billion previously. The Central Bank of Nigeria (CBN) raised 5,667 billion naira through its open market operations on 3 and 6 November, representing 91.7% of the amount mobilised through these operations throughout October, reports Business Day Nigeria.
