Behind Nigeria’s Biggest Corporate Bond: Ridwan Abdulsalam Shares Insight on What It Took to Earn Investor Confidence

By Ugo Aliogo

Nigeria’s debt capital market recently made headlines with the successful ₦100 billion bond issuance—an oversubscribed landmark that drew praise from across the financial community. Behind the scenes, Ridwan Abdulsalam played a pivotal role in steering the process, translating complex financial strategies into clear, compelling opportunities for investors.

“Aligning numbers with confidence did the magic,” Ridwan reflects. “Investors respond when they understand both the risk and the potential. Our goal was to make that crystal clear.”
As one of the Chartered Accountants who helped execute Dangote Cement’s ₦300 billion multi-instrument bond programme, Ridwan stands among the professionals shaping Nigeria’s financial future. His precision and strategic oversight were instrumental in the ₦100 billion Series 1 Fixed Rate Senior Unsecured Bonds—the largest corporate bond ever recorded in Nigeria’s debt market.

The issuance, oversubscribed by pension fund managers, banks, insurance firms, and foreign investors, signaled renewed confidence in the nation’s private-sector financing ecosystem. Amid pandemic-era volatility, Ridwan’s technical expertise ensured that the bond structure met regulatory standards, upheld fiscal discipline, and delivered value to both investors and issuers.

For Ridwan, the success was about more than figures on a balance sheet. “It’s about showing that Nigerian professionals can design and execute financial instruments that inspire global confidence while meeting local financing needs,” he says. His work demonstrates how disciplined financial engineering can unlock liquidity for industrial expansion, job creation, and macroeconomic resilience.

Ridwan’s contribution highlights the transformative potential of credible financial practice—a benchmark for excellence and accountability in an evolving market. As Nigeria seeks to deepen its debt market and reduce reliance on foreign-denominated loans, his approach offers a blueprint for sustainable, homegrown growth.

In his counsel to peers and institutions, he underscores a timeless principle: “Nigeria’s financial future depends on how we manage credibility—both in structure and execution. Every well-planned transaction builds trust, and trust is the true currency of finance.”