• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Nigeria long-bond demand jumps as investors seize on juicy yield

2 years ago
in Features, highlights, Home, home-news, latest News
1 min read
0 0
0
60
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigeria long-bond demand jumps as investors seize on juicy yield

A reopening of Nigeria’s longest-dated bond was oversubscribed by more than three times at an auction on Monday as investors swooped on the issue’s record yield.

The 2053-dated debt attracted total subscriptions of 330 billion naira ($364 million), compared with the 90 billion naira of paper put on offer by the nation’s Debt Management Office. Other shorter tenor notes, including the 2029, 2033 and 2038 maturities, were all undersubscribed at the same auction, indicating a preference for the longer-dated debt, which was also offered at a record yield of 18%.

The demand for the 30-year paper showed investors betting it will deliver a handsome return over inflation in the long run, Wale Okunrinboye, chief investment officer at Access Pensions Ltd., said by email.

“Pension funds exist to meet long-term liabilities, so if you have a long-term asset yielding 18% which is 500-600 basis points over long-term inflation, you load up,” Okunrinboye said.

Even so, Nigeria’s annual inflation rate is expected to have accelerated by 27.7% in October, when data that’s scheduled for release later on Wednesday is published, according to a survey of economists by Bloomberg. That compares with 26.7% in September.

The record yield on the 2053 paper comes against a backdrop of calls from investors for the central bank to raise interest rates and get them closer to positive territory on a real, or inflation-adjusted, basis. Analysts also warn that Nigeria’s negative real yields deter foreign investors, even as the government seeks to attract capital by easing exchange controls alongside other reforms of the economy.

RelatedPosts

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Samir Gadio, head of Africa strategy at Standard Chartered Plc, said an assumption that market conditions will normalize in the medium0term increased the demand for the longer term paper.

“Bond yields are now at record highs, so it makes sense to increase duration exposure if one assumes that market conditions will normalise medium-term,” he said.

Tags: Nigeria long-bondNigeria long-bond demand jumps as investors seize on juicy yield
No Result
View All Result

Highlights

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

Trending

Features

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

August 25, 2025

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers As anticipation builds for the...

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.