Nigeria will issue NGN20 billion ($55 million) bond on April 24, 2019 to fund its budget, the Debt Management Office (DMO) indicated in a release published this week.
According to the release relayed by many local media, the new bond will mature in 2049 (30 years). On the other hand, there is no indication of the interest rate.
“The issuance of the bond will meet the needs of annuity funds and other long term investors, while also developing the domestic capital market and reducing the re-financing risk of the Federal Government,” Premium Times revealed quoting DMO’s director general Patience Oniha (photo).
Recently, the country’s infrastructure investments have surged in the framework of the government’s diversification agenda aimed at cutting its reliance on the oil sector.
Two other bonds should also be issued this month, a 10-year NGN40 billion maturing in 2029 and the reopening of NGN40 billion bond maturing in 2023 namely.
Moutiou Adjibi Nourou
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Mozambican government and Huawei considering the construction of a local mobile phone factory catered to rural needs • Special features for rural...
• Djibouti adopts new digital code to accelerate digital transformation, with focus on data protection, cybersecurity, and e-commerce. • The move aligns...
• Record drought tests Zambia's dependence on hydropower, impacting its vital mining industry • Adoption of dedicated solar projects, such as the recent...
• The African Development Bank (AfDB) has approved €25.5 million in funding to boost Mauritanian SMEs and stimulate inclusive growth.• Mauritania’s...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...