Nigeria's fixed-income yields fall as investor demand surges
Nigeria's Treasury Bills, OMO bills, and FGN bonds saw broad-based yield compression on February 19, 2026, signaling cheaper government borrowing costs. Average NTB yields fell 14 basis points to 17.33%, driven by strong domestic institutional demand despite tight liquidity. The 77-day, 105-day, and 273-day maturities saw the sharpest declines (51, 50, and 117 basis points respectively). This rally extended to OMO bills (down 6bp to 20.8%) and FGN bonds (down 3bp to 15.9%), though Eurobonds rose slightly. The trend suggests renewed investor confidence in naira assets and potential CBN rate easing as inflation moderates. Government financing costs continue trending downward.