The Nigeria 10Y Government Bond has a 14.486% yield.
10 Years vs 2 Years bond spread is 156.9 bp.
Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 18.75% (last modification in July 2023).
The Nigeria credit rating is B-, according to Standard & Poor's agency.
Nigeria Yield Curve
| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 2 years | 12.917% | -225.6 bp | +149.2 bp | 78.43 | +4.03 % | -2.62 % | 08 Dec | ||
| 3 years | 13.274% | -198.6 bp | +127.4 bp | 68.80 | +5.34 % | -3.34 % | 08 Dec | ||
| 4 years | 13.751% | -129.4 bp | +166.2 bp | 59.73 | +4.62 % | -5.71 % | 08 Dec | ||
| 5 years | 14.149% | -133.4 bp | +66.8 bp | 51.60 | +5.98 % | -2.90 % | 08 Dec | ||
| 7 years | 14.302% | -103.2 bp | +41.1 bp | 39.23 | +6.49 % | -2.49 % | 08 Dec | ||
| 10 years | 14.486% | -96.5 bp | +23.9 bp | 25.85 | +8.75 % | -2.08 % | 08 Dec | ||
| 20 years | 16.199% | -5.7 bp | +78.9 bp | 4.97 | +1.02 % | -12.65 % | 08 Dec | ||
| 30 years | 16.898% | +0.8 bp | +159.3 bp | 0.92 | -1.08 % | -33.81 % | 08 Dec | ||
| Last Update: 10 Dec 2023 0:15 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).
| Residual Maturity |
Yield | Spread vs Bond | Spread vs Central Bank Rate (18.75%) |
|||
|---|---|---|---|---|---|---|
| 2 years | 5 years | 10 years | ||||
| 30 years | 16.898% | -185.2 bp | ||||
| 10 years | 14.486% | -426.4 bp | ||||
| 5 years | 14.149% | -460.1 bp | ||||
| 2 years | 12.917% | -583.3 bp | ||||
Focusing on 2 years Government Bond:
| 5Y vs 2Y | 123.2 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | 156.9 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 | 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 | 18.75% |
Nigeria 10Y Bond Yield Spread
The Nigeria 10Y Government Bond has a 14.486% yield.
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.
| Nigeria 10Y vs | Current Spread | Chg 1M | Chg 6M | Compare Countries |
|
|---|---|---|---|---|---|
| vs Japan 10Y | 1371.9 bp | -89.0 bp | -10.4 bp | ||
| vs Germany 10Y | 1222.4 bp | -51.4 bp | +35.2 bp | ||
| vs China 10Y | 1178.8 bp | -99.8 bp | +24.5 bp | ||
| vs France 10Y | 1166.9 bp | -48.5 bp | +33.9 bp | ||
| vs Spain 10Y | 1120.7 bp | -47.9 bp | +31.3 bp | ||
| vs Canada 10Y | 1108.5 bp | -49.2 bp | +23.9 bp | ||
| vs United Kingdom 10Y | 1046.2 bp | -65.9 bp | +45.7 bp | ||
| vs Italy 10Y | 1043.1 bp | -44.2 bp | +29.9 bp | ||
| vs United States 10Y | 1025.7 bp | -56.7 bp | -24.7 bp | ||
| vs Australia 10Y | 1013.2 bp | -68.7 bp | -17.6 bp | ||
| vs India 10Y | 722.0 bp | -93.1 bp | +1.2 bp | ||
| vs Brazil 10Y | 354.5 bp | -55.5 bp | +46.5 bp | ||
| vs Russia 10Y | 211.6 bp | -149.5 bp | -128.1 bp |
Nigeria Government Bonds Prices
Price Simulation: bonds with a face value of 100, with different coupon rates.
Click on for a forecast of the yield.
| Residual Maturity |
Yield | Bond Price - with different Coupon Rates | Fx | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 0% | 1% | 3% | 5% | 7% | 9% | ||||
| 30 years | 16.898% | 0.92 | 6.79 | 18.51 | 30.24 | 41.97 | 53.69 | ||
| 20 years | 16.199% | 4.97 | 10.83 | 22.57 | 34.30 | 46.03 | 57.77 | ||
| 10 years | 14.486% | 25.85 | 30.97 | 41.21 | 51.44 | 61.68 | 71.92 | ||
| 7 years | 14.302% | 39.23 | 43.48 | 51.98 | 60.48 | 68.97 | 77.47 | ||
| 5 years | 14.149% | 51.60 | 55.02 | 61.86 | 68.70 | 75.54 | 82.39 | ||
| 4 years | 13.751% | 59.73 | 62.66 | 68.51 | 74.37 | 80.23 | 86.09 | ||
| 3 years | 13.274% | 68.80 | 71.15 | 75.85 | 80.55 | 85.25 | 89.96 | ||
| 2 years | 12.917% | 78.43 | 80.10 | 83.44 | 86.78 | 90.12 | 93.46 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||
