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We'll raise $1 billion on the Eurobond market in 2016- Kemi Adeosun
There has been many criticism on the present administration on the nations economic. Definitely, the drop in the oil price must have affected the economy. If the condition had met the previous administration, we might have been in the same condition.
Most likely, the government is doing everything possible to rescue the situation. The nations Finance minister has revealed one way the Federal Government plan to ameliorate the present economic situation. Itâs good to know that the Finance Minister have just told what the government is up to ameliorate the economic condition of the country
 Nigeria plans to raise $1 billion on the Eurobond market this year in a move designed to plug a budget deficit, said the countryâs finance minister Friday. Speaking at a press conference in the nationâs capital of Abuja, finance minister Kemi Adeosun said the government had earlier this month approved the plan to issue international debt for the first time since 2013. Adeosun said that the bonds are expected to go on sale in December, with the proceeds channelled into capital projects. âWe are about to appoint our advisers. We are raising one billion dollars,â Adeosun said. âI want to re-emphasise that we have a strategic plan that will take us out of the recession that we find ourselves in. We want to make sure that this recession is the shortest possible.â Nigerian President Muhammadu Buhari announced a record 6.1-trillion-naira ($19.4-billion) spending plan for this yearâs federal budget to try to stimulate growth. The government will be seeking loans from the World Bank, the African Development Bank, China Exim Bank and the Japan International Cooperation Agency. âThese concessional loans will go to the strategic sectors of the economy,â Adeosun said earlier in September, citing the power and agricultural sectors as a key areas of focus. Nigeria is in a recession, suffering from double-digit inflation and a massive drop in foreign investment as it struggles to undo the effects of a rigid foreign-exchange regime that led to a shortage of dollars and drained reserves. The West African countryâs economy is dependent on oil revenues, which have been hit by a plunge in the global price of crude and ongoing rebel attacks on infrastructure in the oil-producing southern region












