Nigeria to sell $1 bln worth of Eurobonds; Inflation rises 17.6%

CBN

LAGOS, Sept 16 (FxMallam) – Nigeria plans to sell $1 billion from Eurobonds by mid-December, a senior official from the Debt Management office said on Friday.

“All borrowing would be used for capital projects. In raising the money we are ensuring that local transaction partners, local banks, must be involved,” Abraham Nwankwo, Director-General, of the Debt Management office, told reporters.

Meanwhile, as the recession lingers, the annual inflation in Nigeria rose to 17.6 percent in August from 17.1 percent in July, the statistics office said on Friday.

According to the Nigerian Bureau of Statistics (NBS), food inflation rose to 16.4 percent in August, from 15.8 percent in July.

President Muhammadu Buhari, his deputy, ministers and heads of federal ministries, agencies and departments were set to meet on Thursday September 15 to search for solutions to end the economic recession gripping Nigeria