FGN bonds see N29bn turnover on NGX debt board

Federal government bonds changed hands worth nearly N29.3 billion last week, with a 2027 note pulling in the bulk of investor demand.
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‎Confiance News gathered that the 18.483% FGS DEC 2027 bond accounted for the largest share of activity on the NGX Debt Board, with three deals moving 20,000 units valued at over N25 billion, at a current price of N120.00.
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‎Total federal bond turnover on the Debt Board stood at N29.29 billion across eight deals, according to figures obtained by Confiance News from the exchange’s weekly activity summary.
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‎On the Non-Interest Board, sukuk instruments also drew strong interest. The 20.5% TAJ SUKUK S2 recorded 15 deals worth over N78.4 billion, while federal bonds on the same board added a further N58.78 billion in turnover, pushing total bond market activity for the week to N171.5 billion.
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‎What it means for investors
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‎With total bond turnover outpacing equity turnover for the week, the data suggests investors are still favoring the predictability of fixed income returns over equity risk, likely a response to ongoing naira volatility and inflation concerns. This signals healthy demand for government paper without requiring steep yield concessions.
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‎What it means for the economy
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‎Strong uptake of FGN bonds and sukuk instruments is a reassuring signal for the government’s debt financing strategy, showing continued market confidence in Nigeria’s ability to service its obligations even as fiscal pressures persist.
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