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Nigeria Starts Roadshow on $2.8b Eurobond in London

By Dipo Olowookere

From Monday, November 12, 2018, federal government will commence a road show on its proposed sale of $2.8 billion Eurobond.

The roadshow, according to information gathered, will last three days in London and will be attended by officials of the Nigerian government, including Minister of Finance, Mrs Zainab Ahmed.

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The $2.8 billion Eurobond is to be used to fund part of the 2018 budget signed into law in June 2018 by President Muhammadu Buhari.

In 2017, federal government issued Eurobonds worth $3 billion to fund part of the 2017 budget signed into law in July 2017.

After the Senate resumed from its long recess in October 2018, President Buhari wrote to the parliament, seeking their approval for the $2.8 billion Eurobond sale.

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Few days later, the red chamber of the National Assembly approved the request, but urged the executive to limit the way it borrows from both domestic and international investors.

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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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