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FEDERAL GOVERNMENT SAYS NIGERIA WILL BE CONSIDERING MORE OPTIONS TO BOOST ITS ECONOMY

The Federal government has disclosed that Nigeria will be considering further options in capital instead of issuing Eurobonds due to its cost in order to boost Africa’s largest economy in the face of a looming recession.

Vice president Yemi Osinbajo made this known in a statement noting that Nigeria is trying to avoid commercial borrowing.

Highlighting on the world’s global crisis, Professor Osinbajo explained that Nigeria’s major export earnings- crude oil, was disrupted and the poor participation of foreign portfolio investors brought down Nigeria’s earning to unprecedented levels.

According to the statement, Nigeria might consider lending from the World bank instead of the overseas debt market as the nation seeks cheaper options in building its commodity-dependent economy.

BY: QUEEN ILE EMEJE

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