Nigeria Eurobonds rise after President Tinubu announces fuel subsidy removal
May 30, 2023, 2:18 am

JOHANNESBURG, May 30 (Reuters) - Nigeria's sovereign dollar-denominated bonds rose on Tuesday after new President Bola Tinubu said at his swearing in on Monday that a costly fuel subsidy would be removed and the central bank should work towards a unified exchange rate.

Eurobonds were up as much as 1.5 cents in the dollar, with the 2029 maturity rising to 85.88 cents at 0722 GMT . Its yield of 11.78% was the lowest since the end of February. (Reporting by Rachel Savage, Editing by Karin Strohecker)

solmusdesigns:
Even without an executive order

Obinoscopy:
Good development. However more needs to be done. Tinubu has to ensure that the local refineries are working and also have to commence the cushioning effect asap. If he delays then he just succeeded in signing his political death warant as he would become unpopular.

Obinoscopy:
Good development. However more needs to be done. Tinubu has to ensure that the local refineries are working and also have to commence the cushioning effect asap. If he delays then he just succeeded in signing his political death warant as he would become unpopular.

LegendHero:


I think investors trust his word

Zonefree:

If you believe Tinubu got good plans for Nigeria, then I have a flying elephant to sell to you.

Bobloco:


A Notorious narcotic drug trafficking president word

LegendHero:


I think investors trust his word

LegendHero:


Obi of Onitsha always sell the drug to him.

Bobloco:


A Notorious narcotic drug trafficking president word

LeoDeKing:
Lemme speak ipobly.

The bond did not rise because of Tinubu.

It rose because pandora Obituary's will be recovered.

Xscape1993:
I don't understand ooo. Subsidy removal or hoarding of fuel? I think subsidy has not been removed officially by the Nigeria's president ooo. English ooo...

solmusdesigns:


Is it not time for someone from your region to also traffic drugs and become a president instead of ending up in Asian prison

Bobloco:


"Mr Tinubu’s many controversies, from perjury, multiple identities, corruption to documented drug-trafficking, are also beginning to embolden the country’s darker instincts, with politicians, officials and security operatives, making a show of competing for who is the baddest gangster."

solmusdesigns:


Super story

If it's easy Ojuckwu and Nnamdi Azikwe would aspire to become Tinubu GCFR

Abeg rest

Bobloco:


You actually need this rest so that you can think properly

You are losing it all

Bobloco:


A Notorious narcotic drug trafficking president word

solmusdesigns:




Say it without crying

" Tinubu is our President "

GeneralPula:

Subsidy & unification of exchange rate..

The previous government already removed the subsidy and it effect starts by June

Our petrol marketers are just the ones hoarding fuel for selfish interest..

Bobloco:


Tinubu is the president of the federal republic of Nigeria

I think that is better

I hope you have bought some fuel for use today

GeneralPula:

I don’t think all of these are necessary anymore bro..

Make we just focus on a better Nigeria..

solmusdesigns:


Yes oo, I got enough to last me a week in a four cylinder engine

Or do you want all our income as a country to go to subsidy payment and loan repayment?!



.

Dafresh:

All Nigerians that are in Asia prison are Tinubu boys, he trained them and he set them on a mission but some were cut and some came back and become billionaires