Nigeria government bonds · auction 15 Dec 2021 · NGN
Nigeria bond auction, 15 Dec 2021: 20-year at 13.10%
2 bond lines from the Debt Management Office, Nigeria’s own result. Rates are the marginal (stop) rate, percent per annum; uniform-price auctions, so every successful bid pays it. Information, not advice.
Headline: 20-year bond 16.2499% FGN APR 2037
13.10%
Largest amount accepted at this auction
Change vs previous 20-year sale
+15 bp
12.95% on 17 Nov 2021
Accepted
NGN 98.8bn
Against NGN 100.0bn on offer
Bid cover
1.34×
Bids of NGN 132.6bn ÷ accepted
Results
Every line, 2 in all
Amounts in NGN millions. Change is in basis points (100 bp = 1 percentage point) from the previous sale of the same tenor, whenever it was. Bid cover is bids received divided by the amount accepted.
- 10-year12.50% FGN JAN 2026matures 22 Jan 2026
- Sale
- reopening
- Coupon
- 12.500%
- Rate
- 11.650%
- Bid range
- 11.00–13.00%
- Previous
- 11.650% 2021-11-17
- Change, bp
- 0
- Offered, NGNm
- 50,000
- Bids, NGNm
- 25,750
- Accepted, NGNm
- 14,180
- Bid cover
- 1.82×
- Source
- notice
- 20-year16.2499% FGN APR 2037matures 18 Apr 2037
- Sale
- reopening
- Coupon
- 16.250%
- Rate
- 13.100%
- Bid range
- 12.00–14.00%
- Previous
- 12.950% 2021-11-17
- Change, bp
- +15
- Offered, NGNm
- 50,000
- Bids, NGNm
- 106,860
- Accepted, NGNm
- 84,610
- Bid cover
- 1.26×
- Source
- notice
| Bond | Sale | Coupon | Rate | Bid range | Previous | Change, bp | Offered, NGNm | Bids, NGNm | Accepted, NGNm | Bid cover | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10-year12.50% FGN JAN 2026matures 22 Jan 2026 | reopening | 12.500% | 11.650% | 11.00–13.00% | 11.650% 2021-11-17 | 0 | 50,000 | 25,750 | 14,180 | 1.82× | notice |
| 20-year16.2499% FGN APR 2037matures 18 Apr 2037 | reopening | 16.250% | 13.100% | 12.00–14.00% | 12.950% 2021-11-17 | +15 | 50,000 | 106,860 | 84,610 | 1.26× | notice |
Source notice: dmo.gov.ng. Compiled by Afronomics, data updated 2026-10-19. Information, not advice.
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Afronomics (2026). Nigeria government bond auction, 15 Dec 2021, compiled from the Debt Management Office, Nigeria. Retrieved 5 November 2026, from https://www.afronomicsfeed.com/markets/bonds/nigeria/2021-12-15