The federal executive council (FEC) has approved a $2.2 billion external borrowing plan to strengthen the country’s finances and support economic reforms.
The federal executive council has approved a $2.2 billion external borrowing plan to strengthen the country’s finances and support economic reforms.
“The first objective is to complete the federal government’s external borrowing programme with the approval of the $2.2 billion financing package, which will include access to the international capital market through a combination of Eurobonds and Sukuk bonds —approximately $1.7 billion from the Eurobond offer and $500 million from Sukuk financing,” Edun said.
“The exact combination of instruments will depend on the advice of transaction advisers and market conditions when we decide to enter the market. “Approval has been granted for the Ministry of Finance Incorporated real estate investment fund,” he said.“This fund will serve as the basis for the revival of long-term mortgage financing in the Nigerian economy.
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