The Debt Management Office on Thursday said that Nigerian companies had issued nine bonds worth $30.4bn (N4.86tn) in the international capital market.
The Director-General, DMO, Dr. Abraham Nwankwo, disclosed this in a statement made available to our correspondent in Abuja.
He stated that the companies took advantage of the success recorded in the issuance of Nigerian Sovereign Eurobonds to raise the funds.
The statement quoted the DG as saying that for the first time in the nation’s history, the private sector had been enabled to access long-term funds from both the domestic and international capital markets.
Nwankwo said, “For the first time in Nigeria’s economic history, the private sector has been enabled to access long-term funds from both the domestic and international capital markets
“The successful issuances of three Nigerian Sovereign Eurobonds in the international capital market – one in 2011 and two in 2013 – have opened the window for Nigeria’s private sector to raise the required foreign currency funds.
“They are now able to fund long-term real sector projects (agriculture, manufacturing, housing, mineral exploration and processing, infrastructure) for diversified and sustainable economic growth towards employment generation and poverty reduction.”
On the domestic front, Nwankwo noted that between 2007 and 2013, about 22 indigenous companies raised over N223bn from the stock market.
The DG further noted that the success recorded was “part of the Transformation Agenda of President Goodluck Jonathan, whereby positive changes are taking place in various facets of the economy.”
The Director-General, DMO, Dr. Abraham Nwankwo, disclosed this in a statement made available to our correspondent in Abuja.
He stated that the companies took advantage of the success recorded in the issuance of Nigerian Sovereign Eurobonds to raise the funds.
The statement quoted the DG as saying that for the first time in the nation’s history, the private sector had been enabled to access long-term funds from both the domestic and international capital markets.
Nwankwo said, “For the first time in Nigeria’s economic history, the private sector has been enabled to access long-term funds from both the domestic and international capital markets
“The successful issuances of three Nigerian Sovereign Eurobonds in the international capital market – one in 2011 and two in 2013 – have opened the window for Nigeria’s private sector to raise the required foreign currency funds.
“They are now able to fund long-term real sector projects (agriculture, manufacturing, housing, mineral exploration and processing, infrastructure) for diversified and sustainable economic growth towards employment generation and poverty reduction.”
On the domestic front, Nwankwo noted that between 2007 and 2013, about 22 indigenous companies raised over N223bn from the stock market.
The DG further noted that the success recorded was “part of the Transformation Agenda of President Goodluck Jonathan, whereby positive changes are taking place in various facets of the economy.”
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