Nigeria raises $900m from inaugural Domestic FGN US Dollar Bond, oversubscribed by 180%.

Nigeria has made history by raising over $900 million from its inaugural Domestic FGN US Dollar Bond issuance. This bond, which offers a 9.75% coupon over five years, was oversubscribed by 180%, showing strong investor confidence. Proceeds will be allocated to key economic sectors, as approved by President Bola Ahmed Tinubu. This move aims to enhance Nigeria's economy and promote financial inclusion, marking a significant step in diversifying funding sources.