Nigerian govt. raises over $900 million in landmark dollar bond

Nigeria has successfully launched its first domestic dollar-denominated bond, raising over $900 million. This dollar bond milestone signals a new chapter in the country’s financial strategy, aimed at boosting economic resilience and fostering long-term growth.

Led by the African Finance Corporation, the initiative garnered significant interest from both local and international investors, demonstrating confidence in President Tinubu’s economic policies and development plans. The success of this dollar bond sets a new precedent for other African nations, highlighting the potential of Africa’s financial markets on the global stage.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun has praised the outcome, stating, “I am particularly pleased that as Chair of the African Caucus, we have launched an initiative that not only strengthens Nigeria’s economic resilience but also expands the horizon for capital markets of African economies.”

The overwhelming response from investors reflects the growing interest in Nigeria’s economic opportunities and the broader investment potential of Africa. With this bond issuance, Nigeria is positioning itself as a leader in financial innovation, driving both national and regional growth through strategic economic measures.

The funds raised from this dollar bond will be directed toward critical infrastructure projects and development programs, further strengthening key sectors of Nigeria’s economy.

SOURCE: Nigerian Federal Ministry of Information