The Business NG - April 11, 2025

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Editorial Focus Description (BusinessNG, April 11, 2025):
Today's editorial centers on the growing pressure in Nigeria's Eurobond market as yields surge to record highs amid global economic uncertainty. Triggered by U.S. President Donald Trump’s sweeping 10% tariff on all foreign imports and retaliatory global trade measures, investor confidence in emerging markets, including Nigeria, has sharply declined. By April 9, 2025, Nigeria’s Eurobond yields had jumped to 11.21%—up 163 basis points from March end—marking the steepest rise since the COVID-19 era. Short-dated bonds like the November 2025 issue saw the most pressure, with yields spiking 282 basis points. Long-term instruments, such as the September 2051 Eurobond, also saw a significant yield climb. The editorial explores how these market dynamics, compounded by falling oil prices and increasing geopolitical risk, could complicate Nigeria’s borrowing costs and fiscal planning. It calls for a measured policy response to restore investor confidence and shield the economy from external shocks.