World Bank Reports Nigeria's $6.4bn Eurobond Burden

According to the World Bank's October 2026 Africa Economic Update titled "Building AI Readiness," Nigeria is confronted with a $6.4 billion sovereign Eurobond repayment obligation scheduled between 2024 and 2030. This debt places Nigeria joint third with Ghana in terms of the largest concentrations of external bond maturities in Africa, following South Africa, which has $11.8 billion due.

Other countries with significant obligations include Angola ($3.9 billion), Kenya ($3.2 billion), Côte d’Ivoire ($2.8 billion), and Zambia ($2.2 billion). The total sovereign Eurobond principal maturing across 13 Sub-Saharan African countries is estimated at $43.6 billion.

Nigeria's share represents approximately 14.7 percent of this total. The World Bank emphasized that the maturity wall necessitates critical refinancing conditions, especially as international borrowing costs have increased since the 2022 global interest-rate tightening cycle.

Many African governments are opting for refinancing rather than full repayment, which can alleviate immediate financial pressure but may lead to higher long-term debt-service costs.