Nigeria is set to issue $2.3 billion in Eurobonds as part of its strategy to refinance existing debt and boost economic stability, with a GDP growth forecast of 4% for 2025.
The Nigeria Investors Forum, which took place on the sidelines of the ongoing International Monetary Fund/World Bank 2025 Annual Meetings in Washington, DC, showcased Nigeria’s ongoing fiscal reforms and efforts to attract sustainable investment.
The forum saw the participation of top officials, including the Central Bank Governor, Mr Olayemi Cardoso, who is the leader of the Nigerian delegation; Sanyade Okoli, Special Adviser to the President on Finance and the Economy; and Mr Mohammed Sadi Abdullahi, Deputy Governor for Economic Policy at the CBN, amongst others
The Nigerian government is in the final stages of completing its domestic borrowing programme for 2025, with all securities fully subscribed.
Looking ahead, Nigeria plans to issue up to $2.3 billion in Eurobonds, which will help refinance a $1.18 billion Eurobond maturing in November. This move is part of Nigeria’s broader strategy to manage debt sustainably and attract investment.
Mr Abdullahi also highlighted Nigeria’s improving economic fundamentals, including a 4% GDP growth forecast for 2025.
This growth rate, up from 3.7% previously, is a clear indicator of Nigeria’s economic resilience. With 13 sectors showing growth above 7% in the second quarter of this year, Nigeria is well on its way to diversifying its economy away from oil.
The country’s foreign exchange market has experienced remarkable stability, with the FX premium falling from 52% in 2022 to less than 3%. This improvement, along with increased non-oil exports and remittance inflows, has contributed to a stronger Naira and increased investor confidence.
The government’s fiscal reforms, including the removal of fuel subsidies and enhanced tax collection systems, have also contributed to improved fiscal stability.
With a focus on infrastructure development, particularly in the power and agriculture sectors, Nigeria aims to attract more private sector investment.
As Nigeria continues to implement strategic reforms and foster a favourable investment environment, the country is poised for long-term economic growth, with a clear path toward achieving 7% GDP growth by 2027.
Sunday Michael Ogwu is a Nigerian journalist and editor of Pinnacle Daily. He is known for his work in business and economic reporting. He has held editorial roles in prominent Nigerian media outlets, where he has focused on economic policy, financial markets, and developmental issues affecting Nigeria and Africa more broadly.
