Nigeria’s Federal Government of Nigeria (FGN) bonds attracted N1.41 trillion in bids during the June auction, according to market data reported by Nairametrics.
The substantial demand came as yields climbed, reflecting a market environment where investors are willing to absorb higher borrowing costs to secure sovereign exposure.
The auction results coincide with a broader surge in Nigeria’s bond and T-bill market turnover, which rose 137.49% amid the sharp rise in yields.
This activity suggests that despite the upward pressure on rates, liquidity in the local debt market remains robust, with participants actively trading through the repricing.
The domestic auction dynamics stand in contrast to recent trends in Nigeria’s external debt markets.
Nigeria’s Eurobond yields edged higher last week as investors reassessed risk across emerging markets.