Nigeria’s Eurobond Issuance Plans Remain Uncertain

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Nigeria’s planned Eurobond issuance has left investors and market players in uncertainty as authorities have not disclosed the timing of the sale.

Finance Minister Wale Edun initially hinted at tapping the Eurobond market later in the year if rates lowered sufficiently, with expectations pointing towards June. However, the lack of clarity has affected the naira’s stability, prompting foreign investors to adopt a cautious stance.

Analysts suggest that the issuance could alleviate currency pressures but are wary of its impact on the domestic dollar bond market and overall economic dynamics. Economic challenges, including low oil production and declining foreign reserves, further complicate the issuance timeline, leaving the market to speculate on when Nigeria will proceed with its Eurobond plans.

Business Day

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