The Director General of the Debt Management Office (DMO), Mrs. Patience Oniha, has stated that Nigeria has no plans of returning to the eurobond market this year, after a sixth outing in November raised $2.86 billion.

Nigeria approved a three-year plan in 2016 to borrow more from abroad. It wants 40 percent of its loans to come from offshore sources to lower borrowing costs and help to fund record-high budgets.

Oniha, who was reportedly asked at an Islamic finance conference in Lagos whether the government would consider a US dollar- denominated Eurobond, said: “For 2019, given the process, I would say no. Foreign borrowing for the 2019 budget is set at N802 billion ($2.7 billion).”

Reuters reported that Nigeria, which emerged from recession last year, has borrowed abroad and at home over the past three years to help finance its budgets and fund infrastructure projects, but debt servicing cost is also rising.

The government had said it wanted to tap concessionary long-term loans to finance its 2019 budget in addition to borrowing at home.

It sold $3 billion in eurobonds in 2017, part of which it used to fund its budget that year. It then followed with a $2.5 billion eurobond sale last year to refinance local currency bonds at lower cost.

Follow Our WhatsApp Channel ______________________________________________________________________ New Year Promo: Get Five Maritime Law Books For N150,000 — 63% Discount The promotion, which commenced on January 8 and runs until February 8, 2026, offers five core maritime law books authored by Dr. Emeka Akabogu, SAN, ordinarily valued at N405,000, for just N150,000 — a 63% discount. Interested buyers can place their orders through the following channels: Phone: 0704 329 3271 Online Store: https://paystack.shop/aa-bookstore Website: www.akabogulaw.com ______________________________________________________________________ ARTIFICIAL INTELLIGENCE FOR LAWYERS: A COMPREHENSIVE GUIDE Reimagine your practice with the power of AI “...this is the only Nigerian book I know of on the topic.” — Ohio Books Ltd Authored by Ben Ijeoma Adigwe, Esq., ACIArb (UK), LL.M, Dip. in Artificial Intelligence, Director, Delta State Ministry of Justice, Asaba, Nigeria. Bonus: Get a FREE eBook titled “How to Use the AI in Legalpedia and Law Pavilion” with every purchase.

How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌐 Website: www.benadigwe.com

Ebook Version: Access directly online at: https://selar.com/prv626

________________________________________________________________________ The Law And Practice Of Redundancy In Nigeria: A Practitioner’s Guide, Authored By A Labour & Employment Law Expert Bimbo Atilola _______________________________________________________________________ [A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation ____________________________________________________