Nigeria to Raise $2.2 Billion in Bonds to Fund 2025 Budget

• Plans include $1.7 billion Eurobonds and $500 million Sukuk to support a $28.18 billion budget
• Government projects a naira exchange rate of N1,400/$, raising concerns over fiscal assumptions

Lagos, Nigeria – The Nigerian government plans to issue $1.7 billion in Eurobonds and $500 million in Sukuk bonds to finance the country’s 2025 annual budget, according to Wale Edun, Minister of Finance and Coordinating Minister of the Economy. The announcement came as the government unveiled a N47.9 trillion ($28.18 billion) budget for the coming year, based on an oil price benchmark of $75 per barrel and a crude output target of 2 million barrels per day.