Nigeria’s Eurobond market recorded mixed performance on Wednesday, May 27, 2026, with yields on the country’s longer-dated sovereign bonds climbing above 8 per cent, reflecting continued investor caution toward emerging market debt despite relatively stable prices across most maturities.
Data released by the Debt Management Office (DMO) on Friday 29 May showed that Nigeria’s 2051 Eurobond closed at a price of $102.65, offering the highest yield of 8.003 per cent among the country’s outstanding international debt securities. The bond, which carries a coupon rate of 8.25 per cent, remains one of the key benchmarks for assessing investor sentiment toward Nigeria’s long-term credit outlook.
Similarly, the 2049 Eurobond ended the trading session at $113.58 with a yield of 7.945 per cent, while the 2046 Eurobond closed at $111.73, yielding 7.937 per cent. The 2047 bond traded at $99.30 and offered investors a yield of 7.692 per cent.
Across the mid-tenor segment, Nigeria’s 2038 Eurobond closed at $103.28 with a yield of 7.274 per cent, while the 2036 issue settled at $110.21, yielding 7.141 per cent. The 2034 Eurobond traded at $120.63 with a yield of 7.107 per cent.
Shorter-dated bonds continued to attract stronger demand, resulting in lower yields. The 2027 Eurobond closed at $101.29 with a yield of 5.588 per cent, while the 2028 issue settled at $100.96 and yielded 5.677 per cent. The 2029 Eurobond offered a yield of 5.867 per cent after closing at $106.42.
The yield curve remained upward sloping, indicating that investors continue to demand higher compensation for holding Nigeria’s debt over longer periods amid global market uncertainties and evolving macroeconomic conditions.
Prices of most Eurobonds remained above par value, suggesting sustained investor confidence in Nigeria’s ability to meet its external debt obligations despite elevated borrowing costs in international markets. Notably, the 2034 bond traded at the highest price of $120.63, while the 2031 Eurobond with a 9.625 per cent coupon closed at $112.85.
Market analysts noted that the spread between yields on shorter and longer maturities reflects investors’ assessment of future risks, including global interest rate trends, exchange rate dynamics and Nigeria’s fiscal outlook.
Nigeria currently has 15 outstanding Eurobond issues with maturities ranging from 2027 to 2051.
