Federal Ministry of Finance and Economic Planning has said that Nigeria Dollar bond records $900m subscription.
Mohammed Manga, Director, Information and Public Relation, of the ministry disclosed in a statement that in a groundbreaking achievement, Nigeria had successfully launched its first domestic dollar-denominated bond, shattering records and signaling a new era of financial innovation and economic growth.
“With over 900 million dollars raised, this milestone marks a significant turning point in the country’s financial strategy.
“It bolsters its economic resilience and cements its position as a leader in Africa’s financial markets.
“It also signals a new chapter in the country’s financial strategy, aimed at boosting economic resilience and fostering long-term growth,” he said.
According to him, led by the Africa Finance Corporation (AFC), the initiative garnered significant interest from both local and international investors.
He said that it demonstrated confidence in President Bola Tinubu’s economic policies and development plans.
“The success of this bond sets a new precedent for other African nations, highlighting the potential of Africa’s financial markets on the global stage,” he said.
Speaking further, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, commended the outcome.
“I am particularly pleased that as Chair of the African Caucus, we have launched an initiative that not only strengthens Nigeria’s economic resilience but also expands the horizon for capital markets of African economies,” he said.
“With this bond issuance, Nigeria is positioning itself as a leader in financial innovation, driving both national and regional growth through strategic economic measures.
“The funds raised from this bond will be directed toward critical infrastructure projects and development programmes, further strengthening key sectors of Nigeria’s economy.
“As Nigeria celebrates this groundbreaking achievement, it is clear that the country is poised for a brighter economic future, especially with the successful launch of its first domestic dollar-denominated bond,” he said.
“As the funds raised from this bond are directed toward critical infrastructure projects and development programmes, Nigerians can expect tangible improvements in their standard of living and a stronger economy for generations to come.
“This milestone marks a new era of financial innovation and economic growth, solidifying Nigeria’s position as a leader in Africa’s financial markets and a beacon of hope for the continent’s economic future,” he said.
