Nigeria’s first-ever domestic US dollar bond has earned global recognition, winning the West Africa Deal of the Year at the 2025 Global Banking & Markets Africa Awards. The award comes after a historic issuance that raised an impressive $917 million, far exceeding initial expectations.
The Debt Management Office (DMO) announced the bond issuance on August 19, 2024, initially targeting $500 million. However, investor confidence surged, leading to an oversubscription of 180%, a clear indicator of Nigeria’s growing appeal in the international financial market.
With a five-year tenor, the bond is listed on both the Nigerian Exchange (NGX) and FMDQ Securities Exchange, reinforcing Nigeria’s commitment to strengthening its financial infrastructure. The issuance attracted a broad range of investors, including local financial institutions, Nigerians in the diaspora, and international stakeholders. The Africa Finance Corporation (AFC) played a crucial role as the Global Coordinator of the bond.
The Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, received the prestigious award at the Bonds, Loans & ESG Capital Markets Conference in Cape Town, South Africa. Upon returning to Nigeria, she formally presented the award to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at his Abuja office.
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In his remarks, Edun hailed the award as a testament to Nigeria’s ambition to position itself—and Lagos—as a leading global financial centre. He emphasized that the bond’s success reflects the resilience and expertise of Nigeria’s financial system, even amid challenging global economic conditions.
“This award marks an important milestone in our journey toward making Nigeria an international financial powerhouse,” Edun stated. “It demonstrates the confidence investors have in our markets and highlights the strength of our economic policies.”
The recognition of Nigeria’s dollar bond is seen as a major boost for the country’s capital market, enhancing its attractiveness to foreign investors and positioning it as a key player in Africa’s economic transformation.
With this achievement, Nigeria continues to break new ground in global finance, reaffirming its status as one of Africa’s leading investment destinations.
