Nigeria Plans $2.3bn Eurobond to Strengthen Fiscal Stability Amid Global Challenges

Nigeria is set to issue a $2.3 billion Eurobond by the end of 2025 to refinance part of its external debt and improve fiscal stability. The move is part of a broader debt management strategy to reduce domestic borrowing and extend the country's debt maturity profile.

The issuance, confirmed by the Debt Management Office (DMO), will not fund new expenditures but will refinance existing high-yield obligations to lower debt servicing costs. Nigeria faces high yield rates compared to other African sovereign bonds due to perceived credit risks.

The government plans to engage in a non-deal roadshow in London, New York, and Dubai to attract international investors and credit rating agencies.