Efio-Ita Nyok|21 November 2017
NegroidHaven has garnered that the Nigerian economy has consolidated its strengths against the recession in the 3rd quarter of the year (July to September). On their Twitter handle, the Ministry of Finance said that GDP grew by 1.4% in the third quarter as against 0.4% in the second quarter of April to June of 2017.
According to the tweet, 'Nigerian economy consolidates exit from recession as Q3 2017 GDP grows by 1.40% compared to 0.71% in Q2 2017'.
Also, Nigeria has successfully floated a $3 billion Eurobond comprising a US$1.5 billion and US$1.5 billion of a 10 years and 30 years series respectively. The pricing have interests pegged at 6.5% and 7.625% respectively.
According to a yesterday Ministry of Finance tweets, 'Nigeria floats US$3bn dual-tranche bond, comprising a US$1.5 billion 10-year series and a US$1.5 billion 30-year series.
'The 10-year series will bear interest at a rate of 6.5%, while the 30-year series will bear interest at a rate of 7.625%.'
'I'm pleased to announce the successful pricing of Nigeria's 4th Eurobond—a 10-year bond at a yield of 6.5% and a 30-year bond at a yield of 7.625%.
'Proceeds will be used to fund approved budgetary expenditures, as well as for the refinancing of domestic debt.', Minister of Finance Kemi Adeosun (@HMKemiAdeosun) added.
Efio-Ita Nyok
Is a Blogger, the Editor-in-Chief & Publisher of NegroidHaven
