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Nigeria Plans $1b Eurobond Sale Before End Of 2016

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By Modupe Gbadeyanka

Minister of Finance, Mrs Kemi Adeosun, has revealed that the Federal Government will issue a Eurobond worth $1 billion before the year 2016 runs out.

Mrs Adeosun said the government was optimistic it would get those interested in it.

She explained that this was part of the FG’s way of sourcing for funds for the budget.

Nigeria plans to borrow a total of $5.8 billion both locally and abroad to fund an expected budget deficit of N2.2 trillion in 2016.

Speaking on the sidelines of an investment conference at the London Stock Exchange on Friday, the Minister expressed optimism that the economy would soon start to take shape.

“We are appointing parties this week, we are hoping to come before the end of the year.

“We have headroom and we are very fortunate in that regard, we have a very low debt to GDP ratio,” Mrs Adeosun was quoted by Reuters to have said.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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