FG to hold roadshow on $1 billion Euro bond for infrastructural development

Nigeria's Minister of Finance, Ngozi Okonjo Iweala

The coordinating minister for the Economy, Dr Ngozi Okonjo-Iweala on Saturday said the Federal Government would in June hold road show on the one billion dollar Euro bond for infrastructure development.
Okonjo-Iweala said this at the African Finance Ministers’ Conference, at the ongoing Spring meeting of the World Bank and the International Monetary Fund in Washington DC.
“We are preparing with Euro bond, we have started work on it and we expect to have road show in June.
“Once we are done with the Euro bond, we work on the Diaspora bond and I hope that by the end of the year we will be able to conclude that particular transaction,’’ Okonjo-Iweala said
It would be recalled that Dr Abraham Nwankwo, Director-General, Debt Management Office in an interview, said Eurobond would generate money from global capital markets and inject it into the country’s gas-to-power infrastructure projects.
He also said that the Diaspora Bond would allow the Nigerian government to pool money from Nigerians residing abroad and that the money would be utilised for developmental projects in Nigeria.
Explaining the policies, the minister said “the transaction is a very intensive process that requires a lot of engagement.’’
Okonjo-Iweala noted that the bond would be another avenue to engage active, large and productive Diaspora in Nigeria.
She added that Nigerians usually were committed in returning to lend capacity to help in the development of the country.
“We have very strong ties to our Diaspora all the time.
“Whenever the president travels, he always takes out time to draw on their knowledge and expertise and hear their views on what is happening in the country,’’ she said.
The Royaltimes