The Minister of Finance, Wale Edun, has mentioned that the profitable elevate of $2.35 billion by a Eurobond issuance indicators traders’ confidence within the Nigerian economic system regardless of present political headwinds.
Nigeria marked a significant milestone in its return to the worldwide capital markets, efficiently elevating $2.35 billion by a Eurobond issuance that drew an unprecedented $13 billion in investor orders, the biggest orderbook within the nation’s historical past.
The oversubscription price of 477% is being hailed as a convincing vote of confidence in Nigeria’s financial fundamentals and reform trajectory regardless of current political challenges.
“It is a testomony to continued investor confidence in our nation and our reform agenda,” mentioned Minister of Finance Wale Edun throughout Thursday’s Federal Govt Council assembly.
“Mr. President, the political headwinds which we’re all conscious of — the market shrugged off these political concerns and targeted on the financial fundamentals of Nigeria,” he added.
Reform momentum underneath renewed hope agenda
Minister Edun credited the success to the administration’s daring financial reforms underneath the Renewed Hope Agenda.
“Although daring and typically unpopular, these reforms are rooted in a transparent goal: to construct a aggressive economic system that draws funding, creates jobs, and lifts tens of millions out of poverty,” he mentioned.
Nigeria’s macroeconomic indicators replicate this progress. In Q2 2025, GDP grew by 4.23 per cent — the best in a decade exterior the COVID rebound. 13 sectors recorded development above 7 per cent, up from 9 within the earlier quarter, with the economic sector practically doubling its development from 3.72 per cent to 7.45 per cent.
Inflation eased to 18 per cent in December, overseas trade reserves topped $43 billion, and the commerce surplus reached N7.4 trillion. “These are clear examples of macroeconomic stability,” Edun famous.
He additionally highlighted a shift in client spending patterns: “Our residents now spend perhaps about half of their earnings on primary wants — meals, shelter, and clothes — in contrast with nearly 90 % beforehand. This indicators a rustic shifting from subsistence in direction of productiveness and certainly affluence.”
World recognition and home imperatives
Edun mentioned Nigeria’s removing from the Monetary Motion Activity Power (FATF) gray listing was one other milestone, reinforcing monetary integrity and world confidence, including that on the current World Bank–IMF annual conferences, world leaders recommended Nigeria’s reform progress, revised IMF development forecasts of practically 4%, and improved credit score scores.
Nevertheless, Edun emphasised the urgency of mobilizing home sources to finance infrastructure and job-rich development. “We stay dedicated to your imaginative and prescient of a $1 trillion economic system by 2030,” he advised the President.
“However to attain this, we should speed up output to 7 per cent each year development by 2027 — not simply as an financial goal, however as an ethical crucial to finish poverty.”
Funding-led development technique
With public funding at solely 5% of GDP, Edun known as for a coordinated effort to develop investment-ready initiatives throughout sectors equivalent to infrastructure, mining, schooling, well being, agriculture, digital innovation, and the blue economic system. He urged ministers and state governments to work collectively to bundle initiatives that meet investor expectations.
“The amount and high quality of personal funding mobilized will change into a key metric of management,” he mentioned. “Each Naira should be optimized to maintain momentum and meet world liquidity constraints, the place much less is coming from multilateral establishments. We now have to depend upon our personal sources.”
Subsequent part of reforms
Trying forward, Edun outlined the following part of reforms geared toward eradicating obstacles to funding. These embody reviewing tariffs and import restrictions to stimulate productiveness, optimizing federal stability sheets, and enhancing fiscal reporting and price range realism.
“We’re tightening expenditure frameworks and guaranteeing reform positive aspects are made accessible to all Nigerians,” he concluded.
What you need to know
In line with DMO, Nigeria efficiently priced $2.35 billion in Eurobonds, break up between two tranches: a $1.25 billion lengthy 10-year word maturing in 2036 and a $1.10 billion lengthy 20-year word maturing in 2046.
- In line with the company, the 10-year bond and the l20-year notes had been priced at yields of 8.6308 per cent and 9.1297 %, respectively.
- The company mentioned Nigeria was happy to attract broad investor participation from numerous jurisdictions, together with the UK, North America, Europe, Asia, and the Center East.
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