By: ThinkBusiness Africa
The Federal Government of Nigeria is weighing a strategic return to the international capital market, seeking to build on a wave of investor confidence that saw its last major bond outing oversubscribed by over 400%, its finance minister said on Wednesday.
The move comes as the administration intensifies its focus on “Legacy Projects”—multi-billion-dollar infrastructure developments intended to anchor a $1 trillion economy.
Dr. Doris Nkiruka Uzoka-Anite, Finance Minister for State, following a high-level meeting with Deutsche Bank, confirmed that the government is reviewing the market outlook for a potential issuance to further ease fiscal pressure.
Nigeria’s last major outing in November 2025 served as a powerful litmus test for the nation’s economic reforms. Despite global volatility, the $2.25 billion dual-tranche Eurobond for financing the 2025 fiscal deficit and critical infrastructure attracted a staggering $9.1 billion in bids.
“We are strictly following our Standard Operating Procedures (SOPs) and working closely with the Debt Management Office (DMO) to ensure every transaction aligns with the Federal Executive Council’s approvals and the national borrowing plan. Step by step, we are funding the future of Nigeria.” Dr. Uzoka-Anite said.
A central point of discussion was the $560 million proposal for the Sokoto-Badagry road, a project designed to link the north-western border near Niger Republic down to the Atlantic coast.
The Deutsche Bank are Financing partners in the ongoing Lagos coastal highway project. They led a syndicate loan of $747 million for the phase 1 section 1, also the section 2 recently secured a $1.126 billion in financing.
These roads utilize Continuously Reinforced Concrete Pavement (CRCP), a technology engineered for a 50-year lifespan to ensure long-term value for the debt incurred.
To ensure these funds are managed with maximum transparency, the Ministry of Finance is establishing a Central Investor Desk. This unit will serve as a direct link between the government and the international community, working alongside the Debt Management Office (DMO) and the Federal Executive Council (FEC) to maintain fiscal discipline.
With external reserves now exceeding $46 billion and a strengthening Naira, officials believe the timing is ideal to return to the market.
> “We are not just borrowing; we are investing in the productivity of the next generation,” a ministry source noted. “The oversubscription of our last bond shows the world believes in the Nigerian recovery.”
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Would you like me to create a table comparing Nigeria’s 2025 bond yields with those of other emerging markets like Egypt or Kenya?
