Nigeria to Sell $1.3 Billion of Bonds for Auto Industry, BusinessDay Says

Nigeria plans to sell 200 billion naira ($1.33 billion) worth of bonds to help revive the country’s automobile industry, BusinessDay reported, citing Vice President Namadi Sambo.

The Central Bank of Nigeria is busy with the plan, the Lagos-based newspaper cited Sambo as saying. The companies that will be helped in the plan include Volkswagen Nigeria Ltd. and the local units of Mercedes Benz and Fiat, the newspaper said.

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