WRITTEN BY: CHIOMA MADONNA NDUKWU
In a bid to finance its significant budget deficit, the Federal Government of Nigeria, under President Bola Tinubu, announces plans to issue a Eurobond before June.
This move marks the country’s return to the international bond market, with global investment banks enlisted for advisory services. The issuance, part of a broader strategy, aims to secure up to $1 billion in international loans throughout 2024 to manage the projected fiscal shortfall of N9.8 trillion.
Minister of Finance, Wale Edun, cites potential for lower interest rates and ongoing economic reforms as key factors influencing the decision.
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