Nigeria’s Debut Domestic Dollar Bond Named West Africa Deal of the Year
By Patience Ikpeme
Nigeria’s first-ever domestic US dollar bond has received the West Africa Deal of the Year award at the 2025 Global Banking & Markets Africa Awards, following a highly successful issuance that generated $917 million.
Announced by the Debt Management Office (DMO) on August 19, 2024, the bond initially aimed to raise $500 million but experienced significant investor interest, resulting in an oversubscription of 180%. The five-year tenor bond was subsequently listed on both the Nigerian Exchange (NGX) and FMDQ Securities Exchange.
This significant issuance attracted a diverse group of investors, including local institutions, Nigerians in the diaspora, and international participants. Africa Finance Corporation (AFC) served as the Global Coordinator for the transaction.
Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, accepted the award at the Bonds, Loans & ESG Capital Markets Conference in Cape Town, South Africa. She presented the award to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja.
“This award marks an important step in our ambition to position Nigeria—and Lagos—as a leading international financial centre,” Edun said. “It also reflects growing confidence in the expertise and resilience of Nigeria’s financial system, which has once again delivered under challenging global conditions.”
This prestigious recognition acknowledges Nigeria’s dedication to developing its capital markets, improving its investment climate, and attracting foreign investment. It also demonstrates the country’s potential for economic growth and its determination to become a prominent international financial hub.
