The Federal Government is reportedly set to issue its first diaspora bond in March 2017 according to reports from Reuters, quoting a source from the Ministry of Finance.
According to the report, the diaspora bond will commence soon after the government completes its $1 billion eurobond sale scheduled for later this month.
The Federal House of Representatives last April, approved the president’s request for an increment i the Diaspora bond offering from $100 million Euro bond to $300 million Euro bond as part of Federal Government’s borrowing plan.
The Federal Government plans has earmarked about N2.4 trillion in new borrowings in its 2017 budget of N7.3 trillion. Debt offerings are expected to be a mixed of local and foreign bond offerings.