Nigeria
Revamp its economy by reducing the costs of using bank notes.
This is the ambition of the Nigerian government which sold $ 2.5 billion eurobonds on Thursday to buy back its debt in naira.
In practice, these are two separate types of securities that have been placed on the market.
The first was sold for USD 1.25 billion and is due to mature in 12 years with a yield of 7.14%.
The second, also worth $1.25 billion, will mature in 20 years. And its rate of return should be 7.7%, the finance minister announced on Twitter.
The deal appealed to investors, the Department of Finance said, as they were prepared to put up to $11.5 billion on the table.
Nigeria is engaged in a programme that should eventually lead it to sell all its foreign debt, the repayment of which in local currency is a structural burden on its budget.
Already last year, Abuja sold a record 4.8 billion Eurobonds in November, confirming Nigeria’s attractiveness on the financial markets.
01:00
Pix of the Day: July 16, 2025
00:52
Nigeria's former president Buhari laid to rest in his hometown of Daura
01:00
Pix of the Day: July 15, 2025
02:03
Muhammadu Buhari's legacy: higlight of his presidential tenure
01:11
World leaders express condolences over death of Nigerian ex-president Muhammadu Buhari
00:51
Nigerian ex-president Buhari dies at 82 in London