Nigeria Issues $2.2bn Eurobonds After Two-Year Absence from International Markets

The Nigerian government has engaged three US lenders to raise $2.2 billion through Eurobonds, marking the country's return to international capital markets after over two years. The move aims to bridge its growing fiscal deficit.

Nigeria is set to issue $2.2 billion worth of Eurobonds to raise funds and bridge its growing fiscal deficit, marking the country's return to international capital markets after over two years. The government has engaged three US lenders in a bid to secure the funding, which will be used to address the nation's increasing financial shortfall. This move is seen as an important step towards stabilizing Nigeria's economy and ensuring long-term sustainability. The issuance of Eurobonds is expected to provide a significant boost to the country's foreign exchange reserves and help alleviate pressure on its public finances.