COUNTRY • NIGERIA
Last Update: 27 Jun 2022 2:15 GMT+0

The Nigeria 10Y Government Bond has a 11.159% yield.

10 Years vs 2 Years bond spread is 318.6 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 13.00% (last modification in May 2022).

The Nigeria credit rating is B-, according to Standard & Poor's agency.

If data are not all visible, swipe table left
Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
3 months 2.802% 0.0 bp 0.0 bp 31 Aug
6 months 4.381% 0.0 bp 0.0 bp 25 Aug
1 year 5.490% +57.1 bp 0.0 bp 94.80 -0.54 % 0.00 % 24 Jun
2 years 7.973% +37.8 bp +45.6 bp 85.78 -0.69 % -0.84 % 24 Jun
4 years 10.248% -70.3 bp -30.9 bp 67.69 +2.58 % +1.12 % 24 Jun
5 years 10.711% n.a. n.a. 60.12 n.a. n.a. 24 Jun
7 years 10.845% -15.0 bp -158.9 bp 48.64 +0.95 % +10.47 % 24 Jun
10 years 11.159% -15.6 bp -144.2 bp 34.72 +1.43 % +13.76 % 24 Jun
20 years 12.450% -39.4 bp -55.0 bp 9.57 +7.29 % +10.25 % 24 Jun
Last Update: 27 Jun 2022 2:15 GMT+0

Nigeria Yield Curve Analysis

Normally, longer-duration interest rates are higher than short-duration. So, the yield curve normally slopes upward as duration increases. For this reason, the spread (i.e. the yield difference) between a longer and a shorter bond should be positive. If not, the yield curve can be flat or inverted.
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
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Residual
Maturity
Yield Spread vs Bond Spread vs
Central Bank
Rate (13.00%)
1 year 2 years 5 years
10 years 11.159% -184.1 bp
5 years 10.711%
-228.9 bp
2 years 7.973%
-502.7 bp
1 year 5.490%
-751.0 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y 248.3 bp Normal Convexity in Short-Term Maturities
5Y vs 2Y 273.8 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 318.6 bp Normal Convexity in Long-Term vs Short-Term Maturities

Nigeria Credit Ratings

A credit rating is an assessment of the creditworthiness of a borrower (in general terms or with respect to a particular debt or financial obligation). For a deeper analysis of credit ratings, click here Nigeria Credit Ratings History
Rating Agency Rating Outlook
Standard & Poor's
B-
-
Moody's Investors Service
B2
-
Fitch Ratings
B
-
DBRS
-
-

Nigeria Interest Rates

A bank rate is the interest rate at which a nation's central bank lends money to domestic banks, often in the form of very short-term loans.
Interest Rates Value
Central Bank Rate 13.00%

Nigeria 10Y Bond Yield Spread

The Nigeria 10Y Government Bond has a 11.159% yield. Click on Spread value for the historical serie.

A positive spread, marked by , means that the 10Y Bond Yield is higher than the corresponding foreign bond. Instead, a negative spread is marked by a green circle.

Click on the values in "Current Spread" column, for the historical series of the spread.
Click on the "Compare" button, for a report with the full comparison between the two countries, with all the available data.
If data are not all visible, swipe table left
Nigeria 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 1093.1 bp -16.1 bp -161.2 bp Compare
Germany 10Y 966.7 bp -67.2 bp -317.6 bp Compare
France 10Y 913.7 bp -68.4 bp -333.9 bp Compare
United Kingdom 10Y 878.8 bp -60.3 bp -289.0 bp Compare
Spain 10Y 856.0 bp -66.7 bp -353.0 bp Compare
China 10Y 830.8 bp -25.7 bp -146.6 bp Compare
United States 10Y 799.9 bp -57.3 bp -312.3 bp Compare
Canada 10Y 782.6 bp -69.9 bp -329.9 bp Compare
Italy 10Y 755.1 bp -86.8 bp -393.1 bp Compare
Australia 10Y 737.8 bp -68.8 bp -362.9 bp Compare
India 10Y 372.6 bp -23.9 bp -241.0 bp Compare
Russia 10Y 246.9 bp +66.4 bp -171.7 bp Compare
Brazil 10Y -150.9 bp -39.1 bp -341.6 bp Compare

Nigeria Government Bonds Prices

Price Simulation: bonds with a face value of 100, with different coupon rates. The highlighted column refers to the zero coupon bond.
Click on for a forecast of the yield.
If data are not all visible, swipe table left
Residual
Maturity
Yield Bond Price - with different Coupon Rates Fx
0% 1% 3% 5% 7% 9%
20 years 12.450% 9.57 16.83 31.36 45.89 60.41 74.94
10 years 11.159% 34.72 40.57 52.27 63.97 75.67 87.37
7 years 10.845% 48.64 53.38 62.85 72.32 81.79 91.26
5 years 10.711% 60.12 63.85 71.29 78.74 86.18 93.63
4 years 10.248% 67.69 70.84 77.15 83.45 89.76 96.07
2 years 7.973% 85.78 87.56 91.13 94.70 98.26 101.83
1 year 5.490% 94.80 95.74 97.64 99.54 101.43 103.33
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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