Nigerian Government to Borrow $2.3 Billion via Eurobond Issuance for Debt Refinancing
The Nigerian government, led by President Bola Tinubu, is set to borrow $2.3 billion through a Eurobond issuance to refinance maturing debt and bolster external reserves. The decision was explained by the Presidency's special adviser on finance, Sanyad Okoli, during an investor forum in Washington D.C.
The move is part of the government's refinancing strategy to manage its debt obligations and enhance financial stability. Nigeria recently raised $2.2 billion through a Eurobond auction, with its total external debt standing at $46.98 billion.
This borrowing comes amidst concerns over Nigeria's rising public debt, which nearly doubled to N152.39 trillion by June 2025.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
President Tinubu Seeks Senate Approval for $2.3bn Loan to Support Budget
Tinubu Seeks N’Assembly Approval for $2.35bn Loan and $500m Sukuk
Nigerian House of Representatives Approves External Borrowing to Finance Budget Deficit
Experts Debate Tinubu's $2.84bn Borrowing Plan
Nigeria Plans $2.3 Billion Eurobond Sale Amid Global Investor Concerns
Tinubu's Government Exceeds 2025 Borrowing Target by 55.6% in Nigeria
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
