MON JULY 28 2025-theGBJournal| The FGN Bonds yield pared on Monday as investors digested the latest instruments offer by the Debt Management Office (DMO).
The average yield pared by 1bp to 16.1%. Across the benchmark curve, the average yield contracted at the short (-5bps) end, driven by demand for the MAR-2027 (-28bps) bond, while it closed flat at the mid and long segments.
The DMO is offering instruments worth N80.00 billion through the re-openings of the ARR-2029 and JUN-2023 bonds.
At the NTB secondary market, trade was bullish, as the average yield fell 2bps to 17.7%.
The average yield contracted at the mid (-3bps) and long (-3bps) segments, driven by demand for the 153DTM (-3bps) and 363DTM (-3bps) bills, respectively, while it was unchanged at the short end.
Conversely, the average yield expanded by 1bp to 24.7% in the OMO segment.
Meanwhile, the overnight lending rate expanded by 8bps to 27.0%, in the absence of any significant funding pressure on the system.
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