April 01, (THEWILL) — Nigeria’s Federal Government bond auction recorded strong investor demand in March, with total subscriptions reaching N931.5 billion about 4 percent above the N750 billion offered.
Despite the oversubscription, total allotments declined by 7.4 percent to N485.49 billion, compared to N524.28 billion in February.
Three instruments were offered at the auction: the 17.945 percent FGN AUG 2030 (5-year reopening) with N250 billion, the 17.95 percent FGN JUN 2032 (7-year reopening) with N200 billion, and the 19.89 percent FGN MAY 2033 (9-year reopening) with N300 billion.
Investor appetite was strongest for the 9-year MAY 2033 bond, which attracted N462.21 billion in bids from 154 successful applicants. It also received the largest share of allotments at N332.71 billion.
The AUG 2030 bond recorded N88.79 billion in subscriptions, while the JUN 2032 bond drew N63.99 billion.
Clearing yields settled at 16 percent for the AUG 2030, 16.15 percent for the JUN 2032, and 16.64 percent for the MAY 2033 bond.
Bids were submitted within the following ranges: 14.8 per cent to 17 per cent for AUG 2030; 15 percent to 17.95 percent for JUN 2032; and 14 percent to 19.89 percent for MAY 2033.
The auction outcome highlights sustained investor interest in government securities, even as allotments moderated compared to the previous month.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
