Nigeria floats $300m Diaspora Bond in MarchNigeria floats $300m Diaspora Bond in March

Nigeria floats $300m Diaspora Bond in March

Nigeria will float the $300 million Diaspora bond that was approved by the National Assembly in March this year - Minister of Finance

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Nigeria will float the $300 million Diaspora bond that was approved by the National Assembly in March this year, according to the Minister of Finance, Kemi Adeosun. Nigeria also plans to float a N20 billion Green bond in the first quarter of this year as well.

Adeosun stated this while hosting Abike Dabiri-Erewa, the Senior Special Assistant on Foreign Affairs and Diaspora, in Abuja on Tuesday.

 

“The Diaspora bond which the National Assembly has approved is where Nigerians in the Diaspora who want to invest can key into; we are hoping that by March the Diaspora bond will be rolled out. Beyond that of course, the investment opportunities in Nigeria are very huge, a lot of Diasporans who are interested in investing at home are encouraged to do so.

 

Government is putting in place a lot of incentives such as infrastructures; and also creates conducive environment for investment to thrive, we are encouraging them to come back home and join the trend,” she said.

 

In April of 2016, the House of Representatives had approved the request by President Muhammad Buhari to increase the Diaspora Bond from $100 million Euro Bond to $300 million Euro Bond that will be raised from the international market.

 

This bond and treasury bills are in line with the Federal Government’s External Borrowing Plan for 2016 – 2018 and is aimed at diversifying Nigeria’s sources of financing.

 

There is a need to further involve Nigerians in Diaspora so they can contribute their quota and invest in developing the nation, Dabiri- Erewa said while noting that Nigerians abroad sent $35 billion home in 2016 up $21 billion from 2015.

The $300 million diaspora bond will be a great opportunity for Nigerians abroad to invest in secure government.

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