Nigeria’s first domestic U.S. Dollar Bond wins West Africa Deal of the Year Award

Nigeria’s inaugural domestic US dollar bond has been recognised as the West Africa Deal of the Year at the 2025 Global Banking & Markets Africa Awards, following a highly successful issuance that raised $917 million.

The bond, announced by the Debt Management Office (DMO) on August 19, 2024, initially aimed for $500 million but was oversubscribed by an impressive 180%. With a five-year tenure, it was listed on both the Nigerian Exchange (NGX) and FMDQ Securities Exchange.

This milestone issuance attracted a wide range of investors, including local institutions, diaspora Nigerians, and international players. Africa Finance Corporation (AFC) acted as the Global Coordinator for the deal.

Dr. Doris Nkiruka Uzoka-Anite, the Minister of State for Finance, accepted the award at the Bonds, Loans & ESG Capital Markets Conference in Cape Town, South Africa. She later presented it to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, in his office in Abuja.

“This award marks a significant step in our goal to establish Nigeria—and Lagos—as a leading international financial centre,” Edun remarked. “It also reflects the growing confidence in the expertise and resilience of Nigeria’s financial system, which has once again proven its strength under challenging global conditions,” the Minister added.

This prestigious recognition underscores Nigeria’s ongoing commitment to enhancing its capital markets, improving its investment climate, and attracting foreign investment. It also highlights the country’s economic growth potential and its determination to establish itself as a key player in the global financial landscape.