The Federal Government of Nigeria has successfully raised $2.35 billion in its latest Eurobond issuance, marking a major milestone in the country’s return to the international capital markets.
According to a statement from the Debt Management Office (DMO), the Eurobonds were issued in two tranches — a $1.25 billion 10-year bond maturing in 2036 and a $1.10 billion 20-year bond maturing in 2046. The 10-year note was priced at a yield of 8.63 percent, while the 20-year note was priced at 9.13 percent.
Nigeria’s government described the transaction as a strong vote of confidence in its ongoing economic reforms. The issue attracted a record-breaking orderbook of over $13 billion, the largest ever achieved by the country. Investors from the United Kingdom, North America, Europe, Asia, and the Middle East — alongside Nigerian investors — participated in the offering, highlighting broad-based global interest.
“This development reaffirms Nigeria’s position as a recognised and credible participant in the global capital market,” President Bola Ahmed Tinubu said, lauding the successful outcome. “We are delighted by the strong investor confidence demonstrated in our country and our reform agenda.”
Finance Minister and Coordinating Minister of the Economy, Wale Edun, said the issuance reflected “the international community’s continued confidence in Nigeria’s reform trajectory and our commitment to sustainable, inclusive growth.”
DMO Director-General Patience Oniha described the transaction as “a major achievement for Nigeria,” noting that it would help fund long-term projects consistent with President Tinubu’s economic growth agenda. “Accessing the Eurobond market to raise long-term financing supports development while diversifying Nigeria’s funding sources,” she said.
The newly issued notes will be listed on the London Stock Exchange, the FMDQ Securities Exchange Limited, and the Nigerian Exchange Limited. Proceeds from the sale will be used to finance the 2025 fiscal deficit and support the government’s wider budgetary needs.
The Federal Government appointed Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan, and Standard Chartered Bank as joint bookrunners for the deal, while FSDH Merchant Bank Limited acted as financial adviser.
