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Daniel Adaji
Yields on Nigeria’s longest-dated Eurobond have surged to 10.833%, according to the latest data from the Debt Management Office (DMO).
The $1.25bn bond due in September 2051 closed at a price of $77.611 on Monday, higher than its original issue yield of 8.250%.
This marks the highest yield among the 14 Eurobond instruments tracked in the report, reflecting rising investor caution over Nigeria’s fiscal outlook, inflationary pressures, and foreign exchange instability.
The shortest-tenor Eurobond—the $1.118bn bond maturing in November 2025—closed at $100.858 with a yield of 5.919%, below its original yield of 7.625%, indicating relatively stronger investor confidence in Nigeria’s short-term creditworthiness.
Several medium- and long-term bonds also recorded significant yield increases. The $1.5bn bond due in November 2027 closed at $95.666 with a yield of 8.430%, up from 6.500% at issue. The $1.25bn bond maturing in March 2029 ended at $96.817, yielding 9.370% against its initial 8.375%.
The $700m bond due in June 2031 closed at $98.213 with a yield of 10.022%, rising from 9.625% at issue. The $1.5bn Eurobond maturing in September 2033 traded at $83.872, with its yield climbing to 10.292% from 7.375%. Also, the $750m bond due in January 2049 closed at $87.566 with a yield of 10.698%, up from 9.248%.
Overall, Eurobond yields now range from 5.919% to 10.833%, with prices generally declining as maturities lengthen—a typical market response to rising perceived risk and tighter global financial conditions.
The DMO data, sourced by Pointblanknews.com from the agency’s website on Tuesday, suggests that Nigeria’s borrowing costs in the international market are rising.