Nigeria’s Domestic Dollar Bond Issue Wins West Africa Deal of the Year Award

Nigeria’s Domestic Dollar Bond Issue Wins West Africa Deal of the Year Award

JOEL OLADELE, Abuja

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

Announced by the Debt Management Office (DMO) on August 19, 2024, the bond initially targeted $500 million but was oversubscribed by 180%. With a five-year tenor, it was listed on both the Nigerian Exchange (NGX) and FMDQ Securities Exchange.

The Director, Information and Public, Ministry of Finance, Mohammed Manga, in a statement revealed that the landmark issuance attracted a broad spectrum of investors, including local institutions, diaspora Nigerians, and international players. Africa Finance Corporation (AFC) served as Global Coordinator.

Manga said in the statement that the Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, received the award at the Bonds, Loans & ESG Capital Markets Conference in Cape Town, South Africa, and formally presented it to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in his office 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”, the Minister affirmed.