Connect with us

Labarai

Nigeria Plans To Sell $1 Billion Eurobonds To Fund Record Budget Deficit

Published

on

Nigeria plans to sell as much as $1 billion of Eurobonds to help fund a record budget deficit this year, Finance Minister Kemi Adeosun said.

Officials from Africa’s biggest oil producer plan to hold non-deal roadshows to meet investors and explain the government’s policies to revive economic growth, Adeosun said Friday in an interview at the World Economic Forum in Davos, Switzerland.

“We’re looking at a maximum of $1 billion,” she said. “We need to go out and sell our story, talk to people, talk to the market – and get the best value.”

Prices of oil, on which Nigeria depends for almost all exports and two-thirds of government revenue, have slumped 15 percent this year to a 12-year low of around $30 per barrel. The West African nation’s economy probably grew 3.2 percent last year, the slowest pace since 1999, according to a Bloomberg survey of economists.

Listen Live

Freedom Radio Kano 99.5 FM Your browser does not support the audio element. https://stream.zeno.fm/t8bhnmek8mzuv Freedom Radio Kaduna 92.9 FM Your browser does not support the audio element. https://stream.zeno.fm/5z9v4k7e9mzuv Freedom Radio Dutse 99.5 FM Your browser does not support the audio element. https://stream.zeno.fm/wp75as7e9mzuv Dala FM Kano 88.5 Your browser does not support the audio element. https://stream.zeno.fm/9zdvuszaanzuv

Now Streaming

Copyright © 2019. Freedom Radio Group. All Rights Reserved.

error: Content is protected !!