Nigeria 2036 Eurobond yield falls, narrowing spread with US 10-year

On 22 Sep 2026 Nigeria's 2036 Eurobond yield fell to 7.57% from 8.63% a year earlier, narrowing the spread vs the US 10-year from 4.46 percentage points to 2.60 percentage points, signalling easier dollar funding conditions and reduced near-term external refinancing premia if sustained.

A lower sovereign Eurobond yield and a compressed spread versus US Treasuries can reduce the dollar-denominated refinancing premium for both sovereign and corporate issuers, easing short-term external debt-service pressure. This effect is conditional on continued dollar liquidity, FX-market stability and sustained reserve accumulation; it does not guarantee permanent repricing or fiscal relief.

Watch DMO daily Eurobond closing yields and official FX reserves updates over the next month for evidence of sustained dollar liquidity.