The Federal Government has successfully raised $2.35 billion from the international capital markets through a Eurobond issuance, despite recent comments by U.S. President Donald Trump threatening sanctions and possible military action over alleged religious violence in Nigeria.
In a statement on Wednesday, the Debt Management Office (DMO) confirmed that the Eurobond offering was split into two tranches — $1.25 billion in 10-year notes maturing in 2036 and $1.10 billion in 20-year notes due in 2046, priced at 8.6308% and 9.1297% respectively.
According to the DMO, proceeds from the issuance will finance the 2025 budget deficit and support the government’s broader funding requirements. The issuance attracted significant investor interest, with the orderbook peaking at over $13 billion.
“Nigeria is pleased to have attracted a wide range of investors from across the UK, North America, Europe, Asia, the Middle East, and Nigeria,” the DMO said, describing the outcome as a reflection of sustained investor confidence in the country’s economic management.
President Bola Tinubu hailed the development as evidence of trust in his administration’s reform agenda.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the transaction underscores international endorsement of Nigeria’s economic direction.
“This successful market access demonstrates continued confidence in Nigeria’s reform trajectory and our commitment to sustainable, inclusive growth,” he stated.
DMO Director-General Patience Oniha added that the issuance aligns with the agency’s goal of supporting national development and diversifying funding sources.
“Nigeria’s ability to tap the Eurobond market for long-term financing in support of President Tinubu’s growth agenda is a major milestone,” Oniha said.
The Eurobonds will be listed on the London Stock Exchange (LSE), the FMDQ Securities Exchange, and the Nigerian Exchange Limited (NGX).
The transaction was jointly managed by Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan, and Standard Chartered Bank as Joint Bookrunners, with FSDH Merchant Bank Limited serving as Financial Adviser.
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