By Dipo Olowookere
The Debt Management Office (DMO) on Thursday finally listed the $3 billion Eurobonds and $300 million FGN Diaspora bonds on the Nigerian Stock Exchange (NSE).
Director General of the DMO, Ms Pat Oniha, during the listing yesterday, disclosed that the bonds would be used by the Federal Government to finance infrastructure projects across the country.
According to her, these projects are expected to transform the socio-economic landscape of the Africa’s largest economy.
Ms Oniha, while engaging stakeholders on the ‘Facts Behind the Listing,’ explained that from the $3 billion Eurobond, government plans to use $2.5 billion to finance the capital expenditure component of the 2017 budget.
The DMO chief assured investors that her agency will not lead Nigeria into any phase of reckless borrowing.
She noted that the debt office was guided by two acts; the Fiscal Responsibility Act and the Debt Management Office Act to ensure it delivers on its mandate.
According to her, the $3 billion Eurobond, with a 30 year tenure and coupon at 7.65 percent, was the largest ever raised from Sub-Saharan Africa.
Ms Oniha told stakeholders at interactive session that the fact that the $3 billion Eurobond was oversubscribed indicated the confidence investors still had in the Nigerian economy.
On the $300 million Diaspora Bond, the DMO boss said it was different because it provided various instruments that suit the needs of diaspora investors.
She explained that with the Diaspora Bond, Nigeria now has securities that have been registered with the United States Securities and Exchange Commission.
more recommended stories
NEPZA to Begin New Free Zone Registration January 1
By Adedapo Adesanya The Nigeria Export.
Tax Evaders Plunged Nigeria into Recession—Boss Mustapha
By Modupe Gbadeyanka The fall into.
Nigeria Declares Better Performance for Oil in 2020
By Adedapo Adesanya The Minister of.
Stockbrokers to Flag Trading of 500,000 Stocks, Others from January 2021
By Dipo Olowookere From January 2021,.
GTBank Shareholders Gather in Lagos to Decide Holdco Structure
By Dipo Olowookere Shareholders of GTBank.
NSE: Domestic Investors Cherry-Pick Stocks With Strong Fundamentals
By Dipo Olowookere The Nigerian Stock.
Investors Shun Trading at NASD Exchange
By Adedapo Adesanya There were no.
Tier-1 Banking Stocks, Others Deplete Market by N46bn
By Dipo Olowookere Stocks in the.