The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says Nigeria has received several funding offers from investors, institutional lenders and development finance organisations.
Oyedele disclosed this on Wednesday during an interview with Bloomberg TV, where he said the current market environment presents an opportunity for the country to refinance some of its expensive existing debts and raise additional funds for development.
According to him, the Federal Government is considering the best financing options available to the country, including possible commercial funding, institutional lending and bilateral arrangements.
“We think that the timing is good for us to be able to maybe even refinance some of our expensive past debts, but also to raise more funding for our development at this critical time,” Oyedele said.
Asked whether Nigeria would pursue a Eurobond issuance or other commercial financing options, the minister said the government would consider several factors before making a decision.
He explained that the choice of financing would depend on market conditions, the amount the government intends to raise and how quickly the funds are needed.
“We will balance that by time. We have a lot of offers, there is a lot of interest in Nigeria by investors, which is good for us,” he said.
Oyedele added that Nigeria also has funding options from institutional lenders and development partners, including the Africa Finance Corporation, African Development Bank and Afreximbank.
“We have also institutional lenders. We have these various organisations from AFC to AfDB to Afreximbank. We also have deals with other countries. So we have many options,” he said.
The minister said the government would carefully weigh the cost, risks and suitability of each funding option before deciding whether to use them for specific projects or broader financing needs.
He stressed that the objective is to ensure value for money and achieve the best possible outcome from every amount spent.
According to him, the government’s focus is “to get the best results from every dollar or every naira that we spend.”
The post “Nigeria Has Many Funding Options” — Finance Minister Says FG May Refinance Costly Debts, Weighs Eurobond, AfDB, Afreximbank Offers appeared first on TheNigeriaLawyer.
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