Government plans a $300m Diaspora Bond

shakirudeen taiwo

April 24, 2017 10:49 AM

It is hoped that this Bond would be fully subscribed by the target group, as government needs to convince them of optimum used of fund for infrastructural development.

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The Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, stated this during a presidential economic communications workshop for finance/economy correspondents and editors in Abuja at the weekend.

The ERGP, which is a four-year (2017-2020) medium-term development plan of the country, has been reviewed and adjudged adequate for its purpose by many local and international development experts and organisations, including the World Bank Group and IMF.

The Plan envisioned that by 2020, Nigeria would have made significant progress in its structural transformation and achieve a more diversified and inclusive economy.

Dr. Dipeolu explained that the Diaspora Bond was being conceptualised to make Nigerians resident outside the country contribute to the country’s growth and recovery, and has been approved by the National Assembly.

The nation’s Minister of Finance, Mrs. Kemi Adeosun, had earlier stated that Nigerians in Diaspora who are willing to investment in the Diaspora Bond would have the chance of doing so when it would be rolled in March, 2017.

According to her in January of this year, the Diaspora Bond would follow on the completion of a Eurobond which would be issued in March, 2017.

Mr. Dipeolu expressed optimism that the activities of the government towards full implementation of the ERGP are being galvanised in a holistic manner, and the positive impact of the ERGP would be appreciated in no distant time.

shakirudeen taiwo