Taiwo Oyedele, minister of finance and coordinating minister of the economy, says Nigeria has received multiple funding offers from investors and institutional lenders.
Speaking in an interview with Bloomberg TV on Wednesday, Oyedele said the current market environment presents an opportunity for the country to refinance some of its expensive debts while mobilising additional funds.
“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,” the minister said.
Asked whether Nigeria would pursue a Eurobond issuance or other commercial financing options, he said the decision would depend on factors such as market conditions, the amount to be raised, and speed to the market.
“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,” Oyedele said.
“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.”
The finance minister said the government would weigh the cost and risks of available funding options and determine whether they are best suited for specific projects or broader financing needs before making a decision.
He said the goal is “to get the best results from every dollar or every naira that we spend”.
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