The Federal Government has floated the much awaited US$3 billion dual series bond to fund approved budgetary expenditures.
A statement from the Federal Ministry of Finance yesterday quoted Minister Kemi Adeosun as saying that “the government would utilise the proceeds of the Notes in funding the approved budgetary expenditures and for refinancing of domestic debt, as may be applicable.”
According to Mrs. Adeosun, the Notes represent Nigeria’s fourth Eurobond issuance, following issuances in 2011, 2013 (two series) and earlier in 2017.
She noted: “Nigeria is implementing an ambitious economic reform agenda designed to deliver long-term sustainable growth and reduce reliance on oil and gas revenues while reducing waste and improving the efficiency of government expenditure.
Nigeria floats $3bn bond to fund budgetary expenditures
