The DMO formally issued a request for expressions of interest on 29 June 2026, inviting banks and law firms to submit proposals by July 13 2026. The process follows S&P Global upgrading Nigeria’s sovereign credit rating by one notch to ‘B’ — the country’s first upgrade in 14 years. Citibank, JPMorgan and Goldman Sachs reported to be in the running as advisers. Issuance still targeting Q4 2026.
Capital Details
Market Significance
Would be Nigeria's second Eurobond return within roughly a year, following a multi-year absence from the market that ended in November 2025; reflects improved investor confidence after an S&P ratings upgrade.
Risk / Considerations
Nigeria's outstanding Eurobond debt (~$18.5bn, the largest single component of its $51.9bn external debt as of March 2026) may limit how aggressively the government can expand external borrowing without raising its cost of debt.