Niger must repay 539.97bn FCFA (€823mn) of principal on its regional Treasury securities in 2027 and pay a further 129.49bn FCFA (€197mn) in interest, the regional debt agency UMOA-Titres said in its third-quarter statistics bulletin. The Treasury raised 114.68bn FCFA (€175mn) at auction in July–September, 4.9% of the 2.33tn FCFA (€3.55bn) raised across the West African Economic and Monetary Union (WAEMU), the agency said.
Analysis: Niger's 2027 principal repayments are nearly five times the amount raised in the third quarter, while maturities peak at 841bn FCFA (€1.28bn) in 2029. That makes continued access to regional bond investors important for refinancing. Investors outside Niger held about 80% of its auctioned securities in September, according to UMOA-Titres. Bidders from Burkina Faso bought 15.8bn FCFA (€24.1mn) of a 21bn FCFA (€32.1mn) five-year bond on October 1, showing the importance of cross-border demand. The next scheduled auction, on November 5, seeks 40bn FCFA (€61mn) and will offer another indication of borrowing conditions.
Source: UMOA-Titres (BCEAO regional agency), UMOA-Titres, Bulletin des statistiques du Marché des Titres Publics T3 2026 (42e numéro), 2027 and Q3 2026 and 2029 and September 2026 and 5 November 2026; APA, Projet d'ordonnance portant première rectification de la loi de finances 2026 (Conseil des ministres, 21 Aug 2026) – reported by APA, 2026; UMOA-Titres (BCEAO regional agency), UMOA-Titres, Compte rendu d'adjudication NE 01/10/2026, 1 October 2026
Millet sold for 16,000 to 17,000 FCFA (€24.4 to €25.9) per 100-kilogram sack at two Maradi region markets on October 24–25, while sorghum fetched 13,500 to 15,000 FCFA (€20.6 to €22.9), a joint mission of the agricultural market information system SIMA, the World Food Programme (WFP) and statistics institute INS found, state news agency ANP reported.
Analysis: The reported harvest-market prices are 10% to 16% below the September Maradi average of 18,965 FCFA (€28.9) recorded by INS and over one-third below a July price of 26,000 FCFA (€39.6) reported in Mayahi. The comparisons suggest that fresh supplies are reducing prices in parts of southern Niger. Conditions may differ farther north: a WFP analyst reported trader concerns about a weak harvest around Dakoro, and a market information official expected prices to rise next quarter. INS's October price bulletin, expected around November 10, may indicate whether lower cereal prices are spreading.
Source: ANP (state news agency), ANP, 'Maradi : SIMA Niger et ses partenaires évaluent le marché agricole à Guidan Roumdji et Dan Issa', October 26, 2026, 24–25 October 2026; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, septembre 2026, September 2026; Office National d'Édition et de Presse (state daily), Le Sahel, 'Marché de Maïreyrey dans le département de Mayahi : Un important carrefour d'échanges commerciaux et sociaux', October 23, 2026, 3 July 2026
Oil generated 155.48bn FCFA (€237mn) for Niger's Treasury in the second quarter of 2026, nearly 32bn FCFA (€48.8mn) more than forecast, private daily L'Enquêteur reported on October 21, citing a government report, according to a Nigerdiaspora press review. Petroleum minister Hamadou Tini said in June that direct oil revenue more than doubled to 453.8bn FCFA (€692mn) in 2025 from 224bn FCFA (€341mn).
Analysis: Second-quarter oil receipts were about 37% higher than the 2025 quarterly average, by our calculation, underscoring the growing contribution of petroleum to state revenue. In 2025, oil income equaled about 29% of total revenue and grants of 1.56tn FCFA (€2.38bn), as estimated by the BCEAO. Budget payments and government debt servicing therefore depend partly on oil revenue. However, the source report has not been made available online and does not specify the forecast used for comparison. The government's unpublished 2027 budget assumptions will be important for assessing how much oil income it expects.
Source: Nigerdiaspora (private aggregator), Nigerdiaspora, 'Revue de presse nigérienne du 19 au 25 octobre 2026', October 25, 2026, summarizing L'Enquêteur of October 21, 2026, which cites a government report, Q2 2026; Nigerdiaspora (private aggregator), As above, Q2 2026; Burkina24 (private online press, Burkina Faso), Burkina24, 'Niger : Les recettes pétrolières explosent et dépassent 450 milliards FCFA', June 13, 2026 (interview with petroleum minister Hamadou Tini), 2025; Burkina24 (private online press, Burkina Faso), Burkina24, June 13, 2026 (as above), 2024; UMOA-Titres (BCEAO regional agency), UMOA-Titres, Bulletin des statistiques du Marché des Titres Publics T3 2026 (42e numéro), 2025
Drilling of a relief well to stop the crude oil eruption at the Goumeri W-8 well in Niger's Agadem field is scheduled from October 24 to December 26, the petroleum and environment ministers said on October 20, state news agency ANP reported. The drilling platform is 100% complete and the equipment is on site, but the timetable does not guarantee control of the eruption within that period, the ministers said.
Analysis: The timetable implies a roughly three-month response to the September 25 incident, if drilling stays on schedule. Ministers said the well's eruption was at very low intensity and the spill had been contained. The disruption matters because crude accounted for 89% of 2025 goods exports, according to INS, and the IMF expects 2026 oil production of about 97,000 barrels a day. Oilfield contractors and insurers are directly involved, but the scale of any production loss has not been specified. Officials have ordered a damage assessment and have not published the detailed well-control plan.
Source: ANP (state news agency), ANP, 'Éruption sur le puits Goumeri W8 : Le déversement du brut est contenu (Ministres)', October 20, 2026, October–December 2026; ANP (state news agency), ANP, October 20, 2026 (as above), October 2026; International Monetary Fund, IMF Country Report No. 26/220, 2026; Institut National de la Statistique (INS) du Niger, INS Niger, Bulletin des statistiques du commerce extérieur provisoire 2025, 2025
Niger's industrial production fell 0.6% year on year in July 2026 and 1.1% in June, after rising 17.6% in the second quarter as a whole, according to regional central bank BCEAO data published by the debt agency UMOA-Titres in its third-quarter bulletin. Across the West African Economic and Monetary Union (WAEMU), industrial output rose 4.6% in July, the BCEAO said in its September economic report.
Analysis: The annual decline in June and July indicates that April and May accounted for the second quarter's 17.6% increase. The uneven performance makes it difficult to treat the quarterly rise as a sustained trend. By July, Niger's industrial output growth was 5.2 percentage points below the regional rate. Industrial suppliers and lenders face uncertainty if weaker production continues. INS's third-quarter index, expected around November 27, may provide a clearer trend.
Source: UMOA-Titres (BCEAO regional agency), UMOA-Titres, Bulletin des statistiques du Marché des Titres Publics T3 2026 (42e numéro), Q2 2026 and July 2026 and June 2026 and Q1 2026; BCEAO, BCEAO, Note de conjoncture économique des pays de l'UEMOA, septembre 2026, July 2026; Institut National de la Statistique (INS) du Niger, INS Niger, Bulletin des statistiques du commerce extérieur du deuxième trimestre 2025 (N°03, août 2025), Q2 2025; Institut National de la Statistique (INS) du Niger, INS Niger, Bulletin des statistiques du commerce extérieur du premier trimestre 2025 (N°02, juin 2025), Q1 2025
Chart of the week
Millet, national average price of a 100-kg sack, FCFA, September 2025–September 2026
No July 2026 point: INS's July and August consumer price bulletins are image-only files, so the July average could not be read. Source: INS monthly consumer price bulletins, price table.. Source: Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, septembre 2025 (base 100 en 2023), September 2025; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, octobre 2025 (base 100 en 2023), October 2025; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, novembre 2025 (base 100 en 2023), November 2025; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, décembre 2025 (base 100 en 2023), December 2025; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, février 2026 (base 100 en 2023), January 2026 and February 2026; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, mars 2026 (base 100 en 2023), March 2026; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, avril 2026 (base 100 en 2023), April 2026; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, mai 2026 (base 100 en 2023), May 2026; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, juin 2026 (base 100 en 2023), June 2026; Institut National de la Statistique (INS) du Niger, INS Niger, IHPC National, septembre 2026, August 2026 and September 2026.
Tender of the week
Solar equipment for 32 multiservice digital centers
Buyer
Smart Villages for Rural Growth and Digital Inclusion project (PVI), national information society agency ANSI
Scope
Supply, installation and commissioning of solar power equipment for 32 multiservice digital centers; national open tender (request for bids); sealed paper bids only, opened in public on November 18 at 9:30 a.m.
Value
Not published
Funding
World Bank (IDA), Smart Villages project P167543
Closes
Wednesday, November 18, 2026
Alama Pro members get the link to the official notice for this and every other tender.
In Alama Pro this week
Deep dive: Niger's investment forum: the delivery test
10 signals with workings, from five areas: public debt and prices, farming, energy, construction and industry, and digital finance
Four trackers, from inflation and millet prices to crude export earnings and imports, and every open tender we track, with deadlines
Euro equivalents use the fixed parity of 655.957 FCFA per euro. Every figure comes from the official source named under it. Spotted an error? Write to info@alamareport.com; corrections run in the next issue.
