Investors demand higher returns on Nigeria’s long-term Eurobonds
Nigeria’s Eurobond yields have climbed as high as 8.2%, reflecting investor concerns about the country’s long-term sovereign risk. Data shows that while some bonds are trading above their face value, investors are still requiring higher returns for holding Nigeria’s debt over extended periods. According to a Lagos-based analyst, this trend highlights the premium attached to longer-term obligations. The pricing of these bonds offers insight into how international investors view Nigeria’s credit risk.
TLDR
- Yields on Nigeria’s 15 outstanding Eurobond issues ranged between 5.625% and 8.156% at the close of trading on Monday, 31 August, 2026.
- The highest yield was recorded on the 8.25% $1.25bn Eurobond due in September 2051, closing at a yield of 8.156%.
- Shorter-dated Eurobonds, such as the 6.5% $1.5bn November 2027 bond, yielded significantly less at 5.625%.
- Several Eurobonds are trading above their face value, meaning current buyers receive yields below original coupon rates.
- High long-term yields could make future external borrowing more expensive for Nigeria, while some existing bonds remain attractive to investors.
