According to Nigeria’s finance minister Zainab Ahmed, the country has no intentions to issue Eurobonds in 2023 unless market conditions improve. Bond prices are too high for African nations.
Following a cabinet meeting, Ahmed told Reuters in Abuja that Africa’s largest economy would prioritize concessionary loans from the World Bank, Islamic Development Bank, African Development Bank, and other institutions.
“Our external borrowing sources are very much open at multilateral institutions … and our focus is on those loans unless we have no option because loan processes are very long,” she said.
