Trading activity in Nigeria’s bond market slowed sharply during the week ended August 28, 2026, as investors shifted attention toward equities, resulting in an almost 88 percent decline in the value of bond transactions despite continued activity across selected Federal Government securities.
Data released by the Nigerian Exchange (NGX) showed that investors traded a total of 164,122 bond units valued at N171.54 million in 46 deals during the week.
This represents a significant decline from the previous week, when 1.476 million units worth N1.476 billion were exchanged in the same number of deals.
The sharp contraction in turnover indicates that while investors remained active in the fixed-income market, significantly less capital was committed to bond transactions during the week.
Trading was concentrated in a small number of securities.
TAJSUKS2 emerged as the most actively traded bond, accounting for 78,430 units valued at N78.42 million, representing nearly half of the week’s total bond transaction value.
It was followed by FGSUK2033S6, which recorded 40,000 units worth N42.19 million, while FGS202780 traded 20,000 units valued at N25.02 million.
Other actively traded instruments included FGSUK2032S5, TAJSUKS1, FGSUK2027S3, FG202034S2, FGSUK2032S7, FGS202801, and FGS202768, although each accounted for a comparatively smaller share of weekly turnover.
The slowdown in bond trading came during a week when investor activity remained firmly concentrated in the equity market.
The Nigerian Exchange recorded total equity turnover of 2.507 billion shares valued at N123.223 billion in 173,561 deals, substantially exceeding activity recorded in the bond market.
Financial services continued to dominate equity trading, accounting for 78.87 percent of total shares traded and 58.08 percent of total transaction value, reflecting sustained investor interest in banking and financial stocks.
At the same time, the broader equity market extended its gains.
The NGX All-Share Index (ASI) appreciated 0.81 percent to close at 241,298.47 points, while equity market capitalisation increased by 0.84 percent to N155.826 trillion.
The stronger performance of equities, particularly banking stocks, may have encouraged investors to allocate a larger proportion of capital to shares during the week rather than fixed-income securities.
Despite the sharp decline in turnover, activity in the bond market remained concentrated in Federal Government securities and Sukuk instruments, demonstrating that investors continued to maintain exposure to fixed-income assets even as trading volumes moderated.
The week’s trading highlights a notable shift in market participation.
While bonds continued to provide investors with access to relatively stable fixed-income instruments, capital flowed more actively into equities, where improving market performance and strong participation in financial stocks dominated investment activity throughout the holiday-shortened week.
