The Bola Tinubu-led federal government has repaid a $500m Eurobond borrowed in 2013.

POLITICS NIGERIA reports that the bond was issued as part of a dual-tranche $1bn Eurobond with a tenor of 10 years and a coupon of 6.375% per annum.

This is the third Eurobond that Nigeria has repaid in the past six years, following the repayments of $500m in July 2018 and $500m in January 2021.

It should be noted that currently, the country’s total debt stock is estimated to be around $103bn.

The full statement reads:

PRESS RELEASE

Nigeria Re-Affirms Its Commitment To Meeting Its Debt Service Obligations As It Redeems A USD500 Million Eurobond On Its Due Date On July 12, 2023.

The Eurobond was issued in July 2013 (as part of a dual-tranche USD1 billion Eurobond) for a tenor of ten (10) years at a coupon of 6.375% per annum.

Nigeria had previously redeemed a USD500 million Eurobond in July 2018, another USD500 million Eurobond in January 2021, and a USD300 million Diaspora Bond in June 2022. These, together with the USD500 million Eurobond redeemed today, bring the total amount of securities redeemed by Nigeria in the International Capital Market (ICM) to USD1.8 billion.

Nigeria’s successful redemption of its Eurobonds and Diaspora Bond in the ICM over the past six (6) years is a demonstration of its strong debt management operations and planning.

helinues:
Gradual offloading of out debt ceiling, saving and no reckless spending.

Slow and steady, better Nigeria ahead with his Excellency president Tinubu.

001Lagos:
Will that stop Tinubu from borrowing again ?

All this initial gragra sef

EcoNews:
Fools should learn to shut their foolish bigoted mouth when you have nothing sensible to course.

001Lagos:
Will that stop Tinubu from borrowing again ?

All this initial gragra sef

001Lagos:

Nigeria total debt is about $105billion so $500million debt repayment is peanut cake compared to the money still owed .

And I'm pretty sure that Tinubu will borrow more like Buhari did

Ihateheadslamer:
Bola Ahmed Tinubu is a rich man better than buhari the biggest scammer Nigeria ever had as a president

helinues:


In all honesty, I do not expect you to wail on this thread.

Funny thing about you, politics, you don't know, government business, you have no clue.

Loans repayment is first obligation of any government cos you wouldn't want to default.

Infact, debt repayment come first , before government take care of it self, next is the workers before state.

Learn, opposition is not madness. At least appreciate when the government is doing the right thing. Don't just be opposing everything for no reason.

EyeCumInPeace:
Nothing to celebrate here, until we see the benefits to the average Nigerian.

001Lagos:

Show me five sensible thing that the APC led Buhari government did with all the billions of dollars that they borrowed from countries of the world and financial institutions?

I will not applaud criminals that borrowed billions of dollars in Nigeria name with nothing to show for it.

helinues:


Your acclaimed criminal that is doing the right thing?

Nigerians voted for his Excellency Tinubu to do the right thing, hope you read the news about army asking permission from state governors to handle the miscreants operating in some places in Nigeria, how many are they?

Even though the journey won't be easy but the starting moves so far is not bad .

Appreciate the good thing, the right thing except if you are one of the enemies of Nigeria

001Lagos:

If not that you're more of a joke than the military, does the army need the permission of state governors before taking-out terrorists?

And which good thing has Tinubu done since his inception as illegitimate president of Nigeria?

Is part of the billions that Tinubu APC government borowed ain't part of the money used in building rail way in Niger republic ?
Abeg how that rail way take benefit Nigeria ?

Where is the air Nigeria that billions was borrowed to float by this same APC government?

helinues:


You know, my only prayer for you is not to be acting this your character on NL in real life.

May be you don't even reflect on your activities on this forum , where are all your annointed palm oil candidates in the Apc primary, Amaechi, GEJ, Emefiele and then Lawal at the last minute.

Don't even let us talk about so many other things you have goofed on, try to be listening to yourself sometimes.

You don't seem to see good in others. It's very obvious

Peace!

naijapikin2:
Hmmm
This tinubu has started on a good footing. It's too early to say o. That's how baba buhari started too.
Let's wait and see. Not the one that he will now go back in 3 years time to borrow borrow and borrow us to slavery

mrvitalis:

Treasuries are money you have to pay na bros... Nigeria had zero option zero u can't not pay it...

It's like saying tinubu payed monthly salary you praise him?

naijapikin2:
ok
Thanks for the heads up.
I for say. No wonder.
Man gas's dey careful o.
Thanks for keeping me updated.
But e go still help if can put a small belief in naija not tinubu o.
Thanks o jare

mrvitalis:

Nigeria has potential yes but I am not hopeful of tinubu... The guy lacks basic understanding of economics

His team is full of micro economics... Have little or no understanding of macro economics policy formulation ... Same mistake that killed Buhari

I don't have high hope

mrvitalis:
Eurobonds are treasures for heavens sake and must be paid

How is this even news for heavens sake

Nigeria had no option you making it seem like it was tinubu idea or decision to pay the bond?

If he refused to pay nugeria asset would have been sold to pay off instantly and no body would buy Nigeria Bond anymore

Read people read