Nigeria’s Eurobond market recorded a sustained improvement in pricing on Tuesday, October 21, 2025, as yields moderated across several maturities, reflecting improved investor sentiment toward the country’s external debt instruments.
According to data released by the Debt Management Office (DMO), the 2025 Eurobond, carrying a 7.625 per cent coupon, closed at a price of $100.25, yielding 4.26 per cent. Similarly, the 2027 and 2028 bonds, with coupon rates of 6.50 per cent and 6.125 per cent, respectively, closed at yields of 6.13 per cent and 6.79 per cent.
Yields on longer-dated maturities remained relatively higher, consistent with the broader curve structure. The 2029 and 2030 papers were quoted at 7.16 per cent and 7.29 per cent, while the 2031 issues—comprising the 8.747 per cent and 9.625 per cent bonds—closed at yields of 7.63 per cent and 7.64 per cent, respectively.
The 2032 and 2033 bonds traded around 7.84 per cent and 8.09 per cent, while the 2034 note, with a coupon of 10.375 per cent, attracted a yield of 8.43 per cent. At the long end of the curve, the 2038, 2047, 2049, and 2051 instruments posted yields of 8.46 per cent, 8.87 per cent, 8.93 per cent, and 9.02 per cent, respectively.
The sustained decline in yields underscores renewed investor appetite for Nigerian sovereign debt, buoyed by recent macroeconomic stabilisation efforts and improving foreign exchange liquidity conditions.
Analysts note that the moderation in yields may also signal increased confidence in Nigeria’s fiscal outlook and external debt management strategy.
Comments are closed.