COUNTRY • NIGERIA
Last Update: 23 Mar 2023 18:15 GMT+0

The Nigeria 10Y Government Bond has a 14.174% yield.

10 Years vs 2 Years bond spread is 399.7 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.

Central Bank Rate is 18.00% (last modification in March 2023).

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

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Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
2 years 10.177% +336.6 bp -196.0 bp 82.38 -6.01 % +3.60 % 23 Mar
3 years 11.994% +246.6 bp n.a. 71.19 -6.46 % n.a. 23 Mar
4 years 12.477% +97.3 bp -72.3 bp 62.48 -3.42 % +2.59 % 23 Mar
5 years 13.999% +90.6 bp +92.0 bp 51.94 -3.90 % -3.97 % 23 Mar
7 years 14.101% +25.2 bp +146.4 bp 39.72 -1.54 % -8.63 % 23 Mar
10 years 14.174% +13.0 bp +136.5 bp 26.57 -1.12 % -11.32 % 23 Mar
20 years 14.834% -94.6 bp +39.1 bp 6.29 +17.79 % -6.54 % 23 Mar
30 years 15.413% -45.4 bp n.a. 1.36 +12.40 % n.a. 23 Mar
Last Update: 23 Mar 2023 18:15 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 (18.00%)
2 years 5 years 10 years
30 years 15.413% -258.7 bp
10 years 14.174%
-382.6 bp
5 years 13.999%
-400.1 bp
2 years 10.177%
-782.3 bp
Focusing on 2 years Government Bond:
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5Y vs 2Y 382.2 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 399.7 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-
negative
Moody's Investors Service
Caa1
-
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 18.00%

Nigeria 10Y Bond Yield Spread

The Nigeria 10Y Government Bond has a 14.174% 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.
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Nigeria 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 1387.5 bp +33.1 bp +130.1 bp Compare
Germany 10Y 1199.5 bp +41.8 bp +121.6 bp Compare
France 10Y 1146.7 bp +36.5 bp +125.8 bp Compare
Canada 10Y 1138.8 bp +70.5 bp +165.9 bp Compare
China 10Y 1128.8 bp +18.5 bp +117.2 bp Compare
Spain 10Y 1094.4 bp +41.0 bp +131.6 bp Compare
Australia 10Y 1088.5 bp +72.6 bp +200.9 bp Compare
United Kingdom 10Y 1079.1 bp +33.0 bp +179.4 bp Compare
United States 10Y 1074.4 bp +58.6 bp +163.0 bp Compare
Italy 10Y 1012.5 bp +46.8 bp +164.8 bp Compare
India 10Y 682.9 bp +17.6 bp +141.3 bp Compare
Russia 10Y 303.9 bp -2.5 bp +93.0 bp Compare
Brazil 10Y 110.1 bp +41.8 bp +1.5 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%
30 years 15.413% 1.36 7.76 20.56 33.36 46.16 58.96
20 years 14.834% 6.29 12.61 25.24 37.88 50.51 63.14
10 years 14.174% 26.57 31.75 42.11 52.47 62.83 73.19
7 years 14.101% 39.72 43.99 52.54 61.09 69.64 78.19
5 years 13.999% 51.94 55.37 62.24 69.10 75.97 82.84
4 years 12.477% 62.48 65.49 71.50 77.52 83.53 89.54
3 years 11.994% 71.19 73.59 78.40 83.20 88.00 92.81
2 years 10.177% 82.38 84.11 87.57 91.04 94.50 97.96
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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