What a maturity profile is
A sovereign like Nigeria doesn't have one bond — it has many, each maturing on a different date. Line those maturities up in order and you get the country's maturity profile: a ladder showing how much is due, and when. Analysts watch it because a cluster of large repayments falling in the same year (a redemption wall) means the government has to find a lot of hard currency at once — by using reserves, or by issuing new bonds to refinance the old ones. A profile spread evenly across many years is generally easier to manage than one bunched into a single date.
The front of Nigeria's curve
Nigeria has a series of US-dollar Eurobonds outstanding, laddered across many years. The nearest maturities — the "front end" — set the tone for the whole curve. Here are the earliest rungs (an indicative snapshot; the live Nigeria tab always shows the current figures):
| Bond | Maturity | Coupon |
|---|---|---|
| Nigeria 2027 | 28 Nov 2027 | 6.500% |
| Nigeria 2028 | 28 Sep 2028 | 6.125% |
| Nigeria 2029 | 24 Mar 2029 | 8.375% |
| Nigeria 2030 | 23 Feb 2030 | 7.143% |
| Nigeria 2031 (Jan) | 21 Jan 2031 | 8.747% |
| Nigeria 2031 (Jun) | 09 Jun 2031 | 9.625% |
These are the shortest-dated bonds; Nigeria's ladder continues out to longer maturities beyond them. The site tracks the full set of outstanding Nigerian dollar Eurobonds — the Nigeria tab lists every one with its current bid/ask price and yield.
Reading the shape
Plot the yield of each bond against its maturity date and you get Nigeria's yield curve. In the snapshot above, yields rise as maturity lengthens — the 2027 bond yields less than the 2031s. An upward-sloping curve like this is the usual shape: investors generally ask for a little more yield to lock their money up for longer. The curve's level (how high yields sit overall) reflects how the market prices Nigeria's credit at that moment; its slope (how steeply it rises) reflects the extra compensation demanded for longer commitments.
Notice, too, that the coupon and the yield are different things. The 2029 bond carries a high 8.375% coupon but can still yield around 6% if it trades above par — the coupon was set years ago at issue, while the yield reflects today's price. (The bond-yield guide covers why.)
What to watch on the live tab
- The near maturities (2027–2028): the closest repayments the government faces.
- The curve's slope: compare the shortest and longest bond's yield to see how steep it is.
- Where any single year is heavy: several large bonds maturing close together is what a redemption wall looks like.
Information only. This is a factual reference to how Nigeria's Eurobond profile is structured. It is general educational material — not investment, financial, legal or tax advice, not a view on creditworthiness, and not a recommendation to buy or sell any security. Figures are indicative, model-derived values; see the live tab for current data.
See Nigeria's full live curve →