Nigeria’s 2025 Eurobond Closes Strong as Maturity Approaches

Nigeria’s 2025 Eurobond closed the week on a strong note, trading above par at $100.352 with a yield of 5.854 per cent, even as its maturity date in November draws near. ‎‎The bond which was initially issued at a coupon rate of 7.625 per cent, continues to attract investor confidence, according to the latest figures released by the Debt Management Office (DMO), on Monday.‎‎

The latest DMO report shows that the 2025 paper outperformed most longer-dated instruments, which recorded higher yields and declining prices. ‎‎It revealed that, while the 2025 Eurobond remained steady, yields on longer maturities climbed above nine per cent, signaling heightened risk sentiment around Nigeria’s long-term debt.‎‎

For instance, the 2047 Eurobond closed at $84.245 with a yield of 9.313 per cent, while the 2051 issue ended at $88.598 with yields reaching 9.431 per cent. Similarly, the 2049 bond, issued at a coupon of 9.248 per cent, was priced at $99.246 with a yield of 9.326 per cent.‎‎The

The performance contrast between the 2025 Eurobond and longer-term securities reflects investor preference for near-maturity instruments, which are viewed as safer amid Nigeria’s fiscal and macroeconomic challenges. The trend also showed that investors are becoming cautious of long-dated debt, as they demand higher returns to compensate for risk.‎‎

Nigeria has issued several Eurobonds over the years to finance budget deficits, infrastructure projects, and to boost foreign reserves. Outstanding maturities span from 2025 through 2051, with varying coupon rates ranging between 6.125 per cent and 10.375 per cent.‎‎ The country’s most expensive issue on record remains the 10.375 per cent December 2034 Eurobond, which closed at $110.246 with yields of 8.735 per cent.‎‎

The DMO has consistently published Eurobond closing prices and yields to provide transparency in the debt market. The recent update shows that while Nigeria continues to face rising borrowing costs in international markets, short-term bonds are still commanding investor interest.‎‎

The strong close of the 2025 Eurobond suggests that investors remain confident in Nigeria’s ability to meet its obligations in the near term, even as attention shifts to the sustainability of its longer-term debt portfolio.‎‎