The federal government has declared that $900 million was raised from its first-ever domestic dollar-denominated bond issuance.
Mr. Wale Edun who is the minister of finance and coordinating minister of the economy, said the bond saw an over 180 percent subscription.
The Federal Government offered its first $500 million FGN bond for subscription at $1,000 per unit to interested investors on the 20th of August 2024.
According to the minister, this shows the continued confidence of investors in Nigeria’s economic stability and growth prospects, and also demonstrates the government’s dedication to expanding its funding sources and promoting economic growth.
The proceeds from the bond have been promised to be targeted at key sectors of the economy.