Nigeria Government Bonds - Yields Curve

COUNTRY • SUMMARY
NIGERIA
Last Update: 24 May 2024 2:15 GMT+0

The Nigeria 10Y Government Bond has a 19.372% yield.

10 Years vs 2 Years bond spread is -1.4 bp.
Yield Curve is inverted in Long-Term vs Short-Term Maturities.

Central Bank Rate is 26.25% (last modification in May 2024).

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

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Nigeria Yield Curve

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Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
2 years 19.386% +50.1 bp +425.3 bp 70.16 -0.83 % -7.00 % 23 May
3 years 18.102% +7.4 bp +273.2 bp 60.71 -0.18 % -6.77 % 23 May
4 years 18.478% -9.3 bp +303.4 bp 50.75 +0.32 % -9.86 % 23 May
5 years 18.667% -27.2 bp +339.1 bp 42.50 +1.17 % -13.49 % 23 May
7 years 18.816% -32.3 bp +291.0 bp 29.91 +1.91 % -15.94 % 23 May
10 years 19.372% -15.3 bp +336.6 bp 17.02 +1.31 % -24.89 % 23 May
20 years 18.646% -27.7 bp +213.8 bp 3.27 +4.81 % -30.57 % 23 May
30 years 17.724% -88.5 bp +30.8 bp 0.75 +25.00 % -7.41 % 23 May
Last Update: 24 May 2024 2:15 GMT+0

Nigeria Yield 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).

If data are not all visible, swipe table left
Residual
Maturity
Yield Spread vs Bond Spread vs
Central Bank
Rate (26.25%)
2 years 5 years 10 years
30 years 17.724% -852.6 bp
10 years 19.372%
-687.8 bp
5 years 18.667%
-758.3 bp
2 years 19.386%
-686.4 bp

Focusing on 2 years Government Bond:

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5Y vs 2Y -71.9 bp Yield Curve is inverted in Mid-Term vs Short-Term Maturities
10Y vs 2Y -1.4 bp Yield Curve is inverted 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 Caa1 positive
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 26.25%

Nigeria 10Y Bond Yield Spread

The Nigeria 10Y Government Bond has a 19.372% yield.

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 Compare
Countries
vs Japan 10Y 1838.0 bp -25.6 bp +314.6 bp
vs China 10Y 1705.0 bp -19.2 bp +376.7 bp
vs Germany 10Y 1678.4 bp -15.2 bp +340.8 bp
vs France 10Y 1629.3 bp -14.2 bp +348.1 bp
vs Spain 10Y 1603.6 bp -11.0 bp +364.6 bp
vs Canada 10Y 1572.1 bp +2.6 bp +346.8 bp
vs Italy 10Y 1548.5 bp -8.7 bp +387.1 bp
vs United Kingdom 10Y 1507.8 bp -11.5 bp +335.3 bp
vs Australia 10Y 1500.9 bp -2.0 bp +354.7 bp
vs United States 10Y 1489.7 bp +1.6 bp +336.3 bp
vs India 10Y 1238.1 bp +4.2 bp +364.7 bp
vs Brazil 10Y 767.0 bp -42.7 bp +276.3 bp
vs Russia 10Y 493.2 bp -42.3 bp +96.1 bp

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 17.724% 0.75 6.35 17.55 28.75 39.95 51.15
20 years 18.646% 3.27 8.46 18.84 29.21 39.59 49.96
10 years 19.372% 17.02 21.30 29.87 38.44 47.00 55.57
7 years 18.816% 29.91 33.64 41.09 48.54 55.99 63.44
5 years 18.667% 42.50 45.58 51.74 57.90 64.06 70.22
4 years 18.478% 50.75 53.42 58.75 64.08 69.41 74.74
3 years 18.102% 60.71 62.88 67.22 71.56 75.90 80.24
2 years 19.386% 70.16 71.70 74.78 77.86 80.94 84.01
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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