“The chamber has consistently advised the government to borrow from cheaper sources and consider deficit financing from equity instead of the expensive debts borrowed,” said LCCI.
The Debt Management Office (DMO) is set to list the 8.375 per cent, $1.25billion, March 2029 eurobond on the Nigerian Stock Exchange (NSE) and FMDQ Securities Exchange Limited.
The Debt Management Office (DMO) has listed N250 billion Sovereign Sukuk on the Nigerian Exchange (NSE) Group and the FMDQ Securities Exchange.
The DMO said the federal government was trying to identify and plug existing revenue leakages to enhance tax compliance and reduce evasion.
As a sign of commitment to promptly honour its debt obligations, Nigeria says it has redeemed its $300 million diaspora bond which matured on June 27.
Recently, Enoch Adeboye, the Redeemed Christian Church of God’s spiritual leader, raised concern about the country’s rising debt profile.
The first, a two-year savings bond, came at an interest rate of 7.33 per cent per annum and will be due on April 13, 2024.
Mr Mohammed made the plea when he met Chinese ambassador to Nigeria, Chui Jian Chun in his office on Thursday.
The DMO had earlier revealed that the country’s debt stock as of September 2021, was N38 trillion.
With over N400 billion in GDP and about 200 million people, Nigeria still has opportunities for growth.