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Nigeria’s private exporters are invisible to most investors. We put NGX, CBN, ITC Trade Map, NBS and company filings in one place, for investors and for the companies raising from them.
Sources: Premium Times, 19 Jul 2026 · allAfrica, 27 Aug 2025
A note is capped debt, so it is priced like a loan to a Nigerian exporter: above what the Nigerian government pays on its own dollar bonds (9.75% on the 2029 domestic dollar bond), below equity. Every note must clear about 13.5% a year, net, in dollars. Trade finance of a year or less skips the lock-up premium (about 12%). Equity has no floor and no cap, so it must clear about 18.7%.
| US 5-year Treasury (1 Oct 2026) | 5.01% |
| Nigeria sovereign spread | 2.50% |
| Exporter credit premium (unrated, secured) | 3.50% |
| Lock-up premium (notes over 1 year) | 1.50% |
| Execution premium | 1.00% |
| Note hurdle, net USD | ≈13.5% |
| Equity hurdle: 5.01% + 0.80 × 4.23% equity premium + 0.75 × 8.41% Nigeria premium + 2.5% + 1.5% | ≈18.7% |
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