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Nigeria not looking to issue Eurobonds, Vice President says

Nigeria not looking to issue Eurobonds, Vice President says

FELIX ONUAH NIGERIA will avoid issuing Eurobonds due to their expense, Vice President Yemi Osinbajo said, and will look at alternative ways to raise funds to support the economy in the face of a looming recession. “We are not likely going to explore again the Eurobond market because we are trying to avoid commercial borrowing,” Osinbajo told journalists in a group interview late on Friday. Nigeria’s economy has been hobbled as the coronavirus pandemic has triggered a crash in the price of oil, its main export, and an exodus of foreign investors. Nigeria is likely to enter recession in the…
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