Nigeria government bonds · auction 12 Dec 2022 · NGN
Nigeria bond auction, 12 Dec 2022: 20-year at 15.80%
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
15.80%
Largest amount accepted at this auction
Change vs previous 20-year sale
−40 bp
16.20% on 14 Nov 2022
Accepted
NGN 264.5bn
Against NGN 225.0bn on offer
Bid cover
2.01×
Bids of NGN 532.2bn ÷ 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
- 14.750%
- Bid range
- 14.00–15.70%
- Previous
- —
- Change, bp
- n/a
- Offered, NGNm
- 75,000
- Bids, NGNm
- 109,406
- Accepted, NGNm
- 40,420
- Bid cover
- 2.71×
- Source
- notice
- 10-year14.55% FGN APR 2029matures 26 Apr 2029
- Sale
- reopening
- Coupon
- 14.550%
- Rate
- 14.600%
- Bid range
- 13.99–15.25%
- Previous
- —
- Change, bp
- n/a
- Offered, NGNm
- 75,000
- Bids, NGNm
- 48,848
- Accepted, NGNm
- 45,448
- Bid cover
- 1.07×
- Source
- notice
- 20-year16.2499% FGN APR 2037matures 18 Apr 2037
- Sale
- reopening
- Coupon
- 16.250%
- Rate
- 15.800%
- Bid range
- 14.00–16.75%
- Previous
- 16.200% 2022-11-14
- Change, bp
- −40
- Offered, NGNm
- 75,000
- Bids, NGNm
- 373,949
- Accepted, NGNm
- 178,647
- Bid cover
- 2.09×
- 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% | 14.750% | 14.00–15.70% | — | n/a | 75,000 | 109,406 | 40,420 | 2.71× | notice |
| 10-year14.55% FGN APR 2029matures 26 Apr 2029 | reopening | 14.550% | 14.600% | 13.99–15.25% | — | n/a | 75,000 | 48,848 | 45,448 | 1.07× | notice |
| 20-year16.2499% FGN APR 2037matures 18 Apr 2037 | reopening | 16.250% | 15.800% | 14.00–16.75% | 16.200% 2022-11-14 | −40 | 75,000 | 373,949 | 178,647 | 2.09× | 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, 12 Dec 2022, compiled from the Debt Management Office, Nigeria. Retrieved 5 November 2026, from https://www.afronomicsfeed.com/markets/bonds/nigeria/2022-12-12