Nigeria has achieved a significant milestone in its financial journey, with the country’s first-ever domestic US dollar bond being awarded the prestigious West Africa Deal of the Year at the 2025 Global Banking & Markets Africa Awards.
The bond raised $917 million, far exceeding its initial target of $500 million, as investor demand surged to over 180%.
Announced on August 19, 2024, by the Debt Management Office (DMO), this five-year bond is seen as a transformative development in Nigeria’s capital markets.
It has been listed on both the Nigerian Exchange (NGX) and the FMDQ Securities Exchange, showcasing the country’s growing financial strength.
Investors from a broad spectrum, including local institutions, diaspora Nigerians, and international entities, have shown increasing confidence in Nigeria’s financial landscape.
Africa Finance Corporation (AFC) served as the Global Coordinator for the bond issuance, contributing to the transaction’s credibility and broad reach.
Doris Nkiruka Uzoka-Anite, Minister of State for Finance, accepted the award at the Bonds, Loans & ESG Capital Markets Conference in Cape Town, South Africa.
After returning to Nigeria, she presented the award to Wale Edun, Minister of Finance and Coordinating Minister of the Economy, during a ceremony at his office in Abuja.
Minister Edun highlighted the importance of the award, noting that it underscores Nigeria’s growing appeal in the global financial markets.
“This award reflects the growing confidence in the expertise and resilience of Nigeria’s financial system,” he said.
“It showcases our ability to deliver under challenging global conditions, further solidifying our commitment to developing the capital markets, improving the investment climate, and attracting foreign investment.”
He added that the success of this domestic dollar bond issuance marks a key step for Nigeria in becoming a stronger global financial player.
“With this achievement, Nigeria continues to make strides in its broader goal of enhancing its capital markets and ensuring sustainable economic growth,” Edun said.
Experts believe that this recognition will not only boost investor confidence in Nigeria but will also spark further financial innovation and growth across the region’s capital markets.
