Nigeria To Raise $3bn Eurobond In October – Finance Minister
Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said the nation plans to raise about $3b in the Eurobond market in the second week of October.
In an interview with Bloomberg TV, Ahmed that the country was working on increasing revenue, restructuring the dead portfolio and also borrowing less.
“We should be going to the market on the second week of October. Approval for the budget is $6 billion and we are looking at doing half of that in the Eurobond market and the other half in multilateral and bilateral resources,” Ahmed said.
According to her, Nigeria’s GDP is at 23 per cent which is healthy, adding that being able to triple the revenue and pushing the GDP growth up to seven per cent is the target for improvement.
Speaking on inflation, she said that the country has passed the worst of inflation and that it would continue to go downwards throughout 2021 and the course of 2022.
“Our target is that in 2023 we will be moving to single digit inflation,” Ahmed added.