Adeosun In U.K For $1Bn Eurobond
Kemi Adeosun, Minister of Finance[/caption]
Minister of Finance, Kemi Adeosun is currently in the United Kingdom for the UK/US Roadshow as she pushes further to secure Nigeria’s planned $1 Billion Eurobond.
This was contained in a series of tweets by the Federal Government’s official Twitter handle, which added that the funds when secured will go into the 2017 Budget.
The Eurobond is part of the country’s plans to borrow a total of N1.8 trillion ($5.8 billion) from abroad and locally to fund an expected budget deficit of N2.2 trillion this year.
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The $1 billion Eurobond will go into the 2017 budget as funds for infrastructural development. President Muhammadu Buhari, in December last year, presented a N7.298 trillion 2017 Budget proposal before a joint session of the National Assembly.
The government also disclosed that it received $600m from the African Development Bank (AFDB), as part of the $1bn Concessional Loan approved last year.
It further revealed that the Buhari-led administration is close to securing another loan from the World Bank, which will be used to fund the 2017 Budget.
Finance Minister Kemi Adeosun is currently participating in a UK/US Roadshow for our planned $1 billion Eurobond. #GovtAtWorkNG
— Govt of Nigeria (@AsoRock) February 6, 2017
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The $1bn Eurobond will go into the 2017 Budget, to fund Infrastructure projects. #GovtAtWorkNG
— Govt of Nigeria (@AsoRock) February 6, 2017
In 2016 the @AfDB_Group approved a $1bn Concessional Loan for #Nigeria, to go into #Budget2016, and paid the first Tranche of $600m.
— Govt of Nigeria (@AsoRock) February 6, 2017
We are also in the process of seeking a Concessional loan from the @WorldBank, which will go into #Budget2017#GovtAtWorkNG
— Govt of Nigeria (@AsoRock) February 6, 2017
