Nigeria’s fixed-income market strengthened on February 5, 2026, as Treasury bills and Federal Government bond yields declined across key maturities, lifting the total size of the FMDQ debt market to N99.30 trillion.
Data from the FMDQ Securities Exchange showed that improved system liquidity and reduced reliance on aggressive short-term issuance supported yield compression, pointing to softer borrowing costs despite the Central Bank of Nigeria’s (CBN) tight monetary policy stance.
Market activity reflected sustained investor demand for government securities, with participants increasingly positioning along the short-, mid- and long-tenors of the yield curve as liquidity inflows from maturing instruments outweighed the impact of monetary tightening.
