Nigeria’s Eurobond market recorded a broad decline in yields across most maturities on Wednesday, May 20, 2026, reflecting improving investor sentiment toward the country’s sovereign debt instruments.
Data released by the Debt Management Office (DMO) showed that yields on Nigeria’s outstanding Eurobonds ranged between 5.651 per cent and 8.152 per cent, with several instruments trading below their original issue yields.
The 6.500 per cent US$1.5 billion November 2027 Eurobond closed at a price of 101.216 dollars with a yield of 5.651 per cent, lower than its issue yield of 6.500 per cent. Similarly, the 6.125 per cent US$1.25 billion September 2028 Eurobond traded at 100.746 dollars, while its yield declined to 5.777 per cent from the original 6.125 per cent.
The 8.375 per cent March 2029 Eurobond closed at 106.349 dollars with a yield of 5.908 per cent, while the 7.143 per cent February 2030 bond recorded a yield of 6.350 per cent at a closing price of 102.598 dollars.
Longer-dated instruments also reflected sustained demand from investors. The 10.375 per cent December 2034 Eurobond traded at 119.383 dollars with a yield of 7.287 per cent, significantly below its issue yield of 10.375 per cent.
Meanwhile, the 9.129 per cent January 2046 Eurobond closed at 110.289 dollars with a yield of 8.073 per cent, while the 9.248 per cent January 2049 Eurobond recorded a yield of 8.085 per cent at a price of 111.980 dollars.
The 8.25 per cent September 2051 Eurobond, one of the country’s longest-tenured sovereign papers, closed at 101.021 dollars with a yield of 8.152 per cent.
Analysts said the relatively lower yields on many of the Eurobonds compared to their issue rates indicate stronger investor confidence and rising appetite for Nigeria’s external debt securities amid easing concerns over macroeconomic stability and foreign exchange reforms.
The Eurobond pricing data was sourced from Bloomberg and published by the DMO.
