Nigeria’s sovereign Eurobonds maintained a positive trajectory through the final week of April and the start of May 2026, as buying interest across the curve drove prices upward and compressed yields.
Data from the Debt Management Office (DMO) indicates that investor appetite remained robust for mid-to-long-tenored instruments, reflecting growing international confidence in Nigeria’s fiscal reforms and the relative stability of the Naira, which exchanged around ₦1,380/$ during the week.
The rally in the Eurobond market comes on the heels of the Central Bank of Nigeria (CBN) intensifying its liquidity management through OMO bills auctions, which recently raised ₦1.7 trillion.
This proactive monetary stance has signaled to global investors a commitment to inflation control and currency defense.
As yields on several Nigerian papers trended downwards, market participants noted that the risk-on sentiment is being bolstered by improved oil production figures and the government’s recent success at the Global Banking & Markets Africa Awards, signaling a new era of perceived creditworthiness for the continent’s largest economy.