Sunday, July 3, 2022
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result

Nigeria sells N162.6bn Islamic bonds

Regina Chahas by Regina Chahas
June 17, 2020
in Front Page, Markets & Companies
0
Nigeria sells N162.6bn Islamic bonds
0
SHARES
23
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

Nigeria’s Debt Management Office has said the Federal Government, through the sale of Islamic bonds, raised N162.56bn ($450m) to help finance infrastructure projects.

DMO said on Tuesday that the government had planned to sell N150bn of the sukuk in its third outing, but increased the size of the offer after it received a more than four-fold subscription.

READ ALSO

Spike in cooking gas, kerosene prices and crave for substitutes

Bearish sentiment continues as NGX ASI depreciates by 0.14%

The agency said it expected to issue more bonds to improve infrastructure and plans to use the proceeds of the sukuk sale to finance 44 road projects across the country.

Read Also:

  • APCON and war against false adverts
    APCON and war against false adverts
  • Spike in cooking gas, kerosene prices and crave for substitutes
    Spike in cooking gas, kerosene prices and crave for…
  • Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya
    Uber Eats celebrates fourth anniversary with 5.2% growth in…

“It did not give the maturity or the yield date for the naira-denominated bonds. Nigeria had a series of debt issues lined up this year before the Coronavirus Disease triggered a plunge in oil prices, the country’s main export, forcing the government to shelve foreign commercial borrowing,” DMO said.

It explained that “government is now tapping domestic markets and concessionary loans” to help fund its 2020 budget deficit, which has been worsened by lower oil prices that slashed revenues and weakened the naira.

“The oil price crash has also triggered excess naira liquidity on domestic money markets, as foreign investors sell treasury bills, a situation that has helped create dollar shortages in Nigeria, whose economy is projected to contract as much as 8.9 per cent this year,” the agency added.

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: BondsStock ExchangeStock market

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Regina Chahas

Regina Chahas

Related Posts

Nigeria's gas reserves hit 62 million barrels
Energy

Spike in cooking gas, kerosene prices and crave for substitutes

June 27, 2022
NGX index, market cap depreciates by 2.18%
Stock Market

Bearish sentiment continues as NGX ASI depreciates by 0.14%

June 27, 2022
how forex impacts economies
BUSINESS & ECONOMY

How forex trading impacts economies

June 20, 2022
NGX index, market cap depreciates by 2.18%
Front Page

Bearish sentiment returns as index NGX dips by 0.13%

June 20, 2022
Is cybercrime here to stay?
Front Page

Is cybercrime here to stay?

June 13, 2022
Bears retain grip on Nigerian stocks
Front Page

Union Bank, others rake in N27.841m shares at NGX

June 13, 2022
Next Post
G-20: Central banks to consider ‘special’ debt swap deal

G-20: Central banks to consider ‘special’ debt swap deal


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

APCON and war against false adverts

APCON and war against false adverts

July 2, 2022
Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

June 28, 2022
Role of coop in tech startups empowerment

Role of coop in tech startups empowerment

June 28, 2022
40 Nigerian students to get Nexford, Piggyvest scholarships

40 Nigerian students to get Nexford, Piggyvest scholarships

June 27, 2022
Nigeria's gas reserves hit 62 million barrels

Spike in cooking gas, kerosene prices and crave for substitutes

June 27, 2022
NGX index, market cap depreciates by 2.18%

Bearish sentiment continues as NGX ASI depreciates by 0.14%

June 27, 2022
Extinction of imported used cars looms

Extinction of imported used cars looms

June 25, 2022

TRENDING

  • 40 Nigerian students to get Nexford, Piggyvest scholarships

    40 Nigerian students to get Nexford, Piggyvest scholarships

    0 shares
    Share 0 Tweet 0
  • Uber Eats celebrates fourth anniversary with 5.2% growth in Kenya

    2 shares
    Share 0 Tweet 0
  • Spike in cooking gas, kerosene prices and crave for substitutes

    2 shares
    Share 0 Tweet 0
  • The world of POS fraudsters

    0 shares
    Share 0 Tweet 0
  • Bearish sentiment continues as NGX ASI depreciates by 0.14%

    0 shares
    Share 0 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Posting....