System Liquidity
System liquidity rebounded to a ₦229.4 billion surplus following a ₦173.25 billion NTB settlement. Funding rates were broadly stable, with the OPR unchanged at 26.6% and the O/N rate up slightly by 2bps to 27.02%.
Treasury Bills
The NTB market traded mixed with a bearish tone, as limited demand for the new 1-year bill and sell-offs in mid-tenors pushed the average yield up by 9bps to 17.92%.
FGN Bonds
The FGN bond market closed positive, driven by interest in mid-tenor papers. Yields on the FGN 2029, 2031, and 2032 rose to 15.90%, 16.85%, and 16.30%, respectively. However, the FGN 2033 yield increased by 10bps to 16.65%, defying the general trend. Overall, the average benchmark yield declined by 6bps to 15.69%.
Eurobonds
African Eurobonds sustain their rally amid OPEC’s continued monitoring of global oil supply and demand trends, alongside President Trump’s recent remarks on Russian oil. Notably, average yields on Nigerian Eurobonds inched up by 7bps to 8.01%.
Nigerian Equities
The NGX-ASI rose 0.52% to 146,570.71, extending the market’s bullish run. Gains in BUAFOODS (+8.70%) and strong performance across the Insurance Index (+8.76%) and Banking Index (+0.20%) drove the rally. In contrast, profit-taking in BUACEMENT and OANDO pulled the Industrial Goods (-1.73%) and Oil & Gas (-0.93%) indices lower. Market breadth remained strong (44 gainers vs. 33 losers), with major trades in LINKASSURE (99.9m at ₦1.91), FIDELITYBK (37.5m at ₦21), VERITAZKAP (25.7m at ₦2.01), and GTCO (15.7m at ₦99.55).
Foreign Exchange
The Naira appreciated marginally at the Nigerian interbank NFEM, closing at ₦1,535.00/USD—up 15bps—within a trading range of ₦1,535.99 to ₦1,531.99. Meanwhile, Nigeria’s gross external reserves rose by $179.91 million to $39.99 billion as of August 6, 2025.
Commodities
Oil prices fell on hopes of Ukraine peace talks, with Brent at $66.41 and WTI at $63.81. Gold rose on safe-haven demand amid U.S. tariffs and soft jobs data, lifting spot prices to $3,389.40 and futures to $3,452.25.
