****Oversubscribed Landmark Issuance Strengthens Investor Confidence in Nigeria
Nigeria’s groundbreaking domestic US dollar bond has been recognized as West Africa Deal of the Year at the 2025 Global Banking & Markets Africa Awards, highlighting its historic success in deepening the country’s capital markets and attracting global investment.
Initially targeting $500 million, the bond was oversubscribed by 180%, ultimately raising $917 million, a resounding vote of confidence from both local and international investors.
The five-year tenor bond, announced by the Debt Management Office (DMO) on August 19, 2024, is listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange.
Director of Information and Public Relations, Mohammed Manga, in a statement indicated that the issuance drew participation from a broad investor base, including Nigerian institutions, diaspora investors, and global financial players.
Africa Finance Corporation (AFC) served as the Global Coordinator, ensuring seamless execution.
According to the statement, minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, received the award at the Bonds, Loans & ESG Capital Markets Conference in Cape Town, South Africa, before formally presenting it to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja.
“This achievement cements Nigeria’s position as a rising financial powerhouse,” Edun declared. “It proves the resilience of our financial system, the depth of our capital markets, and the trust global investors place in our economy, even amid global uncertainties.”
The statement explained further that the milestone not only reinforced Nigeria’s commitment to financial innovation and economic growth but also aligned with the country’s strategic vision to position Lagos as a top-tier international financial hub.