SAT MAR 28 2026-theGBJournal| Yields on Federal Government of Nigeria (FGN) bonds edged higher by 5 basis points to 15.8%. in the secondary market as investors adjusted positions ahead of the 30 March 2026 auction.
Across the curve, the average yield increased at the short (+9bps) and mid (+13bps) segments driven by sell pressures on the AUG-2030 (+20bps) and APR-2032 (+21bps) bonds, respectively, while the average yield declined at the long end (-11bps) driven by demand for the MAR-2036 (-86bps) bond.
The Debt Management Office (DMO) is scheduled to conduct an FGN Bond primary market auction on Monday, 30 March, comprising the reopening of the AUG 2030, JUN 2032 and MAY 2033 bonds, with offer sizes of N250.00 billion, N200.00 billion, and N300.00 billion, respectively.
The uptick reflects cautious sentiment, with market participants seeking clarity on expected stop rates and overall demand dynamics.
Attention remains firmly on the Debt Management Office’s issuance strategy, with expectations that auction outcomes will provide near-term direction for the bond market.
Analysts note that investor appetite is likely to remain selective, influenced by prevailing liquidity conditions and inflation outlook.
While demand for fixed income instruments persists, the outcome of the auction will be key in shaping yield movements and broader market sentiment in the days ahead.
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