Nigeria’s debut US dollar-denominated domestic bond has clinched the West Africa Deal of the Year title at the 2025 Global Banking and Markets Africa Awards, marking a milestone for the region’s capital markets.
The bond, which drew overwhelming investor demand, secured $917 million—83% above its $500 million target—thanks to a 180% oversubscription. The five-year instrument, unveiled by the Debt Management Office (DMO) on August 19, 2024, is dual-listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange.
Investor appetite spanned local institutions, diaspora participants, and global players, with Africa Finance Corporation (AFC) spearheading the transaction as Global Coordinator.
Dr. Doris Nkiruka Uzoka-Anite, Nigeria’s Minister of State for Finance, accepted the award at the Bonds, Loans & ESG Capital Markets Conference in Cape Town, South Africa, highlighting the deal’s role in bolstering Nigeria’s financial innovation
Speaking on the achievement, Edun described it as a significant step toward positioning Nigeria and Lagos as an international financial hub. He noted that “the recognition reflects growing investor confidence in Nigeria’s financial system and its ability to deliver results despite global economic challenges.”
The ministry in a statement on Thursday said the award further reinforces Nigeria’s commitment to strengthening its capital markets, enhancing the investment climate, and attracting foreign capital.
“It also signals the country’s broader ambition to emerge as a key player in global finance, leveraging its economic potential to drive long-term growth and development,” the statement reads.
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