Nigeria’s $2.35 Billion Eurobond Issuance: A Testament to Investor Confidence
Nigeria has made a significant comeback in the international capital market, raising $2.35 billion through a Eurobond issuance that attracted a staggering $13 billion in investor orders. This oversubscription rate of 477% is a resounding vote of confidence in Nigeria’s economic fundamentals and reform trajectory, despite recent political challenges.
Minister of Finance Wale Edun attributes this success to the administration’s bold economic reforms under the Renewed Hope Agenda. Nigeria’s macroeconomic indicators reflect progress, with GDP growth reaching 4.23% in Q2 2025, the highest in a decade. Inflation has eased to 18%, foreign exchange reserves topped $43 billion, and the trade surplus reached N7.4 trillion.
The Eurobond issuance demonstrates international confidence in Nigeria’s economic policies and management. The funds will finance the 2025 fiscal deficit and support development initiatives. Edun emphasizes the need for domestic resource mobilization to drive infrastructure and job-rich growth, targeting a $1 trillion economy by 2030.
Key Highlights:
- Eurobond Issuance: $2.35 billion raised, with $1.25 billion in 10-year notes (2036) and $1.10 billion in 20-year notes (2046)
- Yields: 8.6308% for 10-year notes and 9.1297% for 20-year notes
- Investor Participation: Broad participation from UK, North America, Europe, Asia, and Middle East
This achievement showcases Nigeria’s growing global credibility and investor confidence in its economic reforms ¹ ² ³.
