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Funding issuanceNigeriaDeveloping story

Nigeria offers NGN1.1tn of reopened FGN bonds on Aug 17, NGN750bn concentrated in 2038 maturity

On August 17, 2026 Nigeria’s Debt Management Office offered NGN1.1 trillion of reopened Federal Government bonds at auction (settlement Aug 19), with NGN750 billion concentrated in the 15.45% June 2038 bond and the remainder split between 2035 and 2037 tenors.

MSA Market DeskEvent 17 August 2026Reviewed 1 min read

The desk brief

On August 17, 2026 Nigeria’s Debt Management Office offered NGN1.1 trillion of reopened Federal Government bonds at auction (settlement Aug 19), with NGN750 billion concentrated in the 15.45% June 2038 bond and the remainder split between 2035 and 2037 tenors.

The August auction increases long-dated domestic refinancing supply, concentrating duration and rollover risk in the 2038 part of the NGN curve. The primary transmission to markets is through longer-end benchmark yields and domestic liquidity absorption rather than changes in Nigeria’s external Eurobond spreads; investor demand and the marginal rates set at allotment will determine financing costs.

Auction allotment, marginal rates and amounts allotted (results published after settlement on Aug 19, 2026).

Sources & verification

Developing story

Further independent confirmation is required.

Public references supporting this brief.

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Price Discovery

Nigeria sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

15 priced bonds
9.18%8.18%7.18%6.18%5.18%20272033203920452051Nigeria 27 · Nov 2027 · 5.712%Nigeria 28 · Sept 2028 · 6.192%Nigeria 29 · Mar 2029 · 6.493%Nigeria 30 · Feb 2030 · 6.839%Nigeria 31 Jan · Jan 2031 · 7.177%Nigeria 31 Jun · Jun 2031 · 7.137%Nigeria 32 · Feb 2032 · 7.351%Nigeria 33 · Sept 2033 · 7.752%Nigeria 34 · Dec 2034 · 7.859%Nigeria 36 · Jan 2036 · 7.987%Nigeria 38 · Feb 2038 · 7.982%Nigeria 46 · Jan 2046 · 8.617%Nigeria 47 · Nov 2047 · 8.456%Nigeria 49 · Jan 2049 · 8.598%Nigeria 51 · Sept 2051 · 8.655%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Nigeria 27Nov 2027100.8135.712%
  • Nigeria 28Sept 202899.8756.192%
  • Nigeria 29Mar 2029104.1256.493%
  • Nigeria 30Feb 2030100.8756.839%
  • Nigeria 31 JanJan 2031105.6257.177%
  • Nigeria 31 JunJun 2031109.6257.137%
  • Nigeria 32Feb 2032102.2507.351%
  • Nigeria 33Sept 203398.0007.752%
  • Nigeria 34Dec 2034114.8757.859%
  • Nigeria 36Jan 2036104.1257.987%
  • Nigeria 38Feb 203897.8757.982%
  • Nigeria 46Jan 2046104.7508.617%
  • Nigeria 47Nov 204791.8758.456%
  • Nigeria 49Jan 2049106.3758.598%
  • Nigeria 51Sept 205195.8758.655%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

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