The Federal Government of Nigeria (FGN) has initiated the process to return to the global debt market by seeking financial advisers for a new Eurobond issuance.
This move marks a significant step in the country's sovereign borrowing strategy, aiming to diversify funding sources beyond the domestic market.
41 trillion in bids during the June auction, reflecting substantial local demand despite rising yields.
The decision comes as Nigeria's domestic bond market has shown robust investor appetite.
Recent data indicates that FGN bonds attracted N1.41 trillion in bids during the June auction, reflecting substantial local demand despite rising yields.
This strong domestic performance provides a foundation for the government to look outward for additional capital.
However, the international environment presents challenges.