WED DEC 17 2025-theGBJournal| At today’s NTB primary market auction, the Debt Management Office (DMO) is scheduled to offer a total of N700.00 billion across the three maturities: N100.00 billion for the 91-Day tenor, N100.00 billion for the 182-Day tenor, and N500.00 billion for the 364-Day tenor.
The NTB secondary market traded on a quiet note albeit with a bullish tilt as the average yield contracted by 1bp to 17.4%.
Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments, driven by the demand for the 86DTM (-1bp), 177DTM (-1bp) and 359DTM (-1bp) bills, respectively. Similarly, the average yield contracted by 31bps to 21.8% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bearish sentiments, as the average yield expanded by 12bps to 16.6%.
Across the curve, the average yield expanded at the short (+33bps) end, due to sell pressures on the JAN-2026 (+234bps) bond but closed flat at the mid and long segments.
Meanwhile, at Monday’s FGN bond auction, the DMO reopened the AUG-2030 and JUN-2032 bonds, offering a total of N460.00 billion.
Total demand settled at N890.61 billion (bid-to-offer: 1.9x), with the DMO eventually allotting N596.47 billion (bid-to-cover: 1.3x).
Stop rates cleared higher at 17.20% for AUG-2030 and 17.30% for JUN-2032, compared with 15.90% and 16.00% at the previous auction.
The overnight lending rate contracted by 5bp to 22.7%, following inflows of N537.75 billion from OMO maturities.
The official FX rate depreciated by 0.3% to N1,456.95/USD.
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