Nigeria government bonds · auction 19 Feb 2024 · NGN
Nigeria bond auction, 19 Feb 2024: 7-year at 18.50%
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: 7-year bond 18.50% FGN FEB 2031
18.50%
Largest amount accepted at this auction
Change vs previous 7-year sale
+500 bp
13.50% on 27 Mar 2019
Accepted
NGN 1,494.9bn
Against NGN 2,500.0bn on offer
Bid cover
1.27×
Bids of NGN 1,902.9bn ÷ 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.
- 7-year18.50% FGN FEB 2031matures 21 Feb 2031
- Sale
- new
- Coupon
- 18.500%
- Rate
- 18.500%
- Bid range
- 11.00–27.00%
- Previous
- 13.500% 2019-03-27
- Change, bp
- +500
- Offered, NGNm
- 1,250,000
- Bids, NGNm
- 1,082,113
- Accepted, NGNm
- 873,527
- Bid cover
- 1.24×
- Source
- notice
- 10-year19.00% FGN FEB 2034matures 21 Feb 2034
- Sale
- new
- Coupon
- 19.000%
- Rate
- 19.000%
- Bid range
- 12.00–30.00%
- Previous
- —
- Change, bp
- n/a
- Offered, NGNm
- 1,250,000
- Bids, NGNm
- 820,792
- Accepted, NGNm
- 621,382
- Bid cover
- 1.32×
- Source
- notice
| Bond | Sale | Coupon | Rate | Bid range | Previous | Change, bp | Offered, NGNm | Bids, NGNm | Accepted, NGNm | Bid cover | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7-year18.50% FGN FEB 2031matures 21 Feb 2031 | new | 18.500% | 18.500% | 11.00–27.00% | 13.500% 2019-03-27 | +500 | 1,250,000 | 1,082,113 | 873,527 | 1.24× | notice |
| 10-year19.00% FGN FEB 2034matures 21 Feb 2034 | new | 19.000% | 19.000% | 12.00–30.00% | — | n/a | 1,250,000 | 820,792 | 621,382 | 1.32× | 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, 19 Feb 2024, compiled from the Debt Management Office, Nigeria. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/markets/bonds/nigeria/2024-02-19