Godswill Michael
Nigeria’s 2049 Eurobond dropped to $87.26 as its yield climbed to 8.96 per cent, reflecting a steady increase in returns across the country’s long-term dollar-denominated debt instruments.
According to the latest data released by the Debt Management Office (DMO) and sourced from Bloomberg, the movement in Nigeria’s Eurobond yields as of October 3, 2025, showed a mixed performance across different maturity tenors.
The report covered 14 sovereign Eurobond instruments, with closing prices and yields indicating investor reactions to both domestic and global economic pressures.
The 2049 Eurobond, issued at a yield of 9.248 per cent, currently trades below par at $87.26, underscoring investors’ demand for higher returns on long-term Nigerian debt amid tightening global financial conditions. Similarly, the 2051 Eurobond, another long-tenor instrument, closed at $91.17, offering a yield of 9.14 per cent, slightly higher than its issue yield of 8.25 per cent.
Shorter-dated papers performed better, reflecting relatively stronger investor confidence in the near term.
The 2025 Eurobond—which matures next month—closed above par at $100.19 with a yield of 5.91 percent, down from its issue yield of 7.625 percent. Likewise, the 2027 and 2028 notes posted modest yields of 6.16 and 6.66 percent respectively, suggesting relative market stability on short to mid-term debt.
The mid-term range also showed mixed outcomes. Nigeria’s 2029 Eurobond rose to $103.63 with a yield of 7.17 per cent, while the 2030 and 2031 papers traded at $99.64 and $104.43, yielding 7.24 and 7.70 percent respectively.
However, the 2033 bond fell to $95.32, with the yield rising to 8.19 percent, signaling mild investor caution on medium-term debt instruments.
The data further revealed that the 2034 Eurobond—one of Nigeria’s highest-priced instruments—closed at $112.15, yielding 8.44 per cent, up from its issue yield of 10.375 per cent. Meanwhile, the 2047 Eurobond slipped to $87.26, reflecting an upward pressure in long-term yields that now hover between 8.9 and 9.1 percent.
Analysts say the rising yields could be linked to persistent global economic headwinds, tighter monetary policies in advanced economies, and domestic fiscal challenges that have heightened Nigeria’s risk perception in international markets.
Eurobonds are debt instruments denominated in foreign currency, often used by governments to raise funds from international investors. For Nigeria, they serve as an important source of external financing to support budgetary expenditure and balance-of-payment needs.
Despite the fluctuations, market observers note that investor interest remains relatively strong, with yields providing attractive returns compared to peer economies. The DMO continues to monitor global conditions closely as part of efforts to ensure Nigeria meets its debt service obligations while sustaining investor confidence.
