BEVERLY HILLS, February 14, (THEWILL) – The Federal Government has stated that the almost eight-fold over-subscription of its recent Eurobond demonstrated strong market appetite for Nigeria.
It added that the development depicted confidence by the international investment community in Nigeria’s economic reform agenda.
The orders were made in excess of US$7.8 billion compared to a pre-issuance target of US$1bn.
A bulletin of the Aso Villa tagged: “Government at Work,” released in Abuja on Tuesday also stated that the economy was already recovering from recession as evidenced by the marginal non-oil sector growth rate of 0.03 per cent in the third quarter of 2016 among other positive developments.
With the last two quarters witnessing consecutive negative growth, the Buhari government attributed the marginal growth in 2016 Q3 to the continued good performance of agriculture and the solid minerals, two sectors prioritised by the Federal Government.
The federal government said agriculture grew by 4.54 per cent in the quarter under consideration, with growth in crop production recording nearly 5 per cent, its highest since the first quarter of 2014.
The bulletin further disclosed that the growth in the solid mineral sector averaged about 7 per cent.
