Nigeria’s local debt market is drawing renewed attention from foreign investors, not because of stronger growth prospects, but because of a wide yield gap that few markets currently offer, according to BusinessDay analysis.
At recent auctions, Nigerian Treasury bills have cleared at annualised rates between 15.3 percent and 17.5 percent, compared with about 3.4 to 3.6 percent on equivalent US Treasury bills.
Under a base-case assumption, according to BusinessDay, that the naira remains broadly stable through 2026, this spread could transl
