Nigerian Credit Sees Strong Demand but Election, Oil, Fiscal Metrics Weigh on Growth Outlook
Bonds & Loans
Published: 6 December 2018 04:47
Moving forward with plans to swap its debt from local currency into dollars, Nigeria’s Federal Government successfully placed close to USD3bn in international bond markets through a widely subscribed issuance in November that saw roughly three times that amount in demand from investors. But analysts are concerned that a confluence of factors – declining oil prices, persistently poor revenue generation, slowness to reform and an increasingly volatile political environment – could arrest the optimism and capital markets momentum generated by the sale.
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