Nigeria government bonds · auction 17 Oct 2022 · NGN
Nigeria bond auction, 17 Oct 2022: 20-year at 16.00%
3 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
16.00%
Largest amount accepted at this auction
Change vs previous 20-year sale
+150 bp
14.50% on 19 Sep 2022
Accepted
NGN 107.9bn
Against NGN 225.0bn on offer
Bid cover
1.10×
Bids of NGN 119.2bn ÷ accepted
Results
Every line, 3 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 APR 2032matures 27 Apr 2032
- Sale
- reopening
- Coupon
- 12.500%
- Rate
- 15.000%
- Bid range
- 14.20–18.50%
- Previous
- —
- Change, bp
- n/a
- Offered, NGNm
- 75,000
- Bids, NGNm
- 15,601
- Accepted, NGNm
- 11,901
- Bid cover
- 1.31×
- Source
- notice
- 10-year14.55% FGN APR 2029matures 26 Apr 2029
- Sale
- reopening
- Coupon
- 14.550%
- Rate
- 14.500%
- Bid range
- 13.00–17.50%
- Previous
- —
- Change, bp
- n/a
- Offered, NGNm
- 75,000
- Bids, NGNm
- 7,425
- Accepted, NGNm
- 3,125
- Bid cover
- 2.38×
- Source
- notice
- 20-year16.2499% FGN APR 2037matures 18 Apr 2037
- Sale
- reopening
- Coupon
- 16.250%
- Rate
- 16.000%
- Bid range
- 14.75–19.00%
- Previous
- 14.500% 2022-09-19
- Change, bp
- +150
- Offered, NGNm
- 75,000
- Bids, NGNm
- 96,154
- Accepted, NGNm
- 92,854
- Bid cover
- 1.04×
- Source
- notice
| Bond | Sale | Coupon | Rate | Bid range | Previous | Change, bp | Offered, NGNm | Bids, NGNm | Accepted, NGNm | Bid cover | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 10-year12.50% FGN APR 2032matures 27 Apr 2032 | reopening | 12.500% | 15.000% | 14.20–18.50% | — | n/a | 75,000 | 15,601 | 11,901 | 1.31× | notice |
| 10-year14.55% FGN APR 2029matures 26 Apr 2029 | reopening | 14.550% | 14.500% | 13.00–17.50% | — | n/a | 75,000 | 7,425 | 3,125 | 2.38× | notice |
| 20-year16.2499% FGN APR 2037matures 18 Apr 2037 | reopening | 16.250% | 16.000% | 14.75–19.00% | 14.500% 2022-09-19 | +150 | 75,000 | 96,154 | 92,854 | 1.04× | 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, 17 Oct 2022, compiled from the Debt Management Office, Nigeria. Retrieved 5 November 2026, from https://www.afronomicsfeed.com/markets/bonds/nigeria/2022-10-17