Nigeria is planning to reissue its $1.1 billion Eurobond due November this year, as part of its total Eurobond sale plan of $2.3 billion by the end of fourth quarter of 2025.
According to a letter written by President Tinubu to the Nigerian lawmakers on Tuesday, to raise $500 million of sukuk to be issued externally for the first time alongside the other amount.
“There are plans to issue Eurobonds in the fourth quarter of 2025, subject to market conditions,” Patience Oniha, director-general of the Debt Management Office, told Bloomberg via a text on Wednesday. “In terms of what we need it’s $2.3. billion,” with tenors depending on pricing, she said.