Nigeria’s debt rally masks inflation credibility concerns

Nigeria’s local debt market is witnessing renewed foreign investor interest as bond yields surge and the naira holds steady, making the country one of Africa’s top high-yield destinations.

The rebound follows the Central Bank of Nigeria’s decision in September to ease its monetary stance slightly, cutting the benchmark interest rate by 50 basis points to 27 percent. It was the first-rate reduction in several Monetary Policy Committee meetings, signalling cautious confidence that infla