Nigeria Eyes Sale of $500 Million Eurobond Before End of March

Vice president says funds will be placed under 2016 budget
Government wants to raise $3.5 billion of debt for 2017 budget

The business district of Lagos, Nigeria, on Oct. 26, 2015.
Photographer: George Osodi/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By David Malingha Doya and Paul Wallace

February 23, 2017 at 1:46 PM UTC

This article is for subscribers only.

Nigeria will probably tap the international bond market for a second time this quarter as the nation seeks to stimulate an economy facing its worst downturn in 25 years.

Vice President Yemi Osinbajo asked lawmakers this week to approve the sale of a $500 million Eurobond as part of the nation’s 2016 budget, according to a letter to parliament seen by Bloomberg.