Operators in the Nigerian capital market have said the Federal Government’s plan to curb borrowing from international capital markets will boost the demand for the domestic bond market.
The Vice Chairman of Highcap Securities Limited, David Adonri, maintained that the recent Fitch reports’ downgrading of Nigerian sovereign Eurobonds to B- contributed to foreign investors’ negative sentiments towards the country.
“A lot of these foreign investors are cautious to put their money into Nigerian Eurobonds because of fear of sovereign default. The only alternative for the Federal Government is to concentrate on raising funds locally.”
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