Nigeria Bonds Rise After President Tinubu Announces Subsidy Removal

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jamesany ❚ 11 months ago❚

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Hours after president Bola Tinubu announced fuel subsidy removal, Nigeria’s sovereign dollar-denominated bonds rose on Tuesday.

President Bola Tinubu said at his swearing in on Monday that a costly fuel subsidy would be removed and the central bank should work towards a unified exchange rate.

Eurobonds were up as much as 1.5 cents in the dollar, with the 2029 maturity rising to 85.88 cents at 0722 GMT . Its yield of 11.78% was the lowest since the end of February.

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jamesany

Emeh James Anyalekwa, is a Seasoned Journalist, scriptwriter, Movie producer/Director and Showbiz consultant. He is the founder and CEO of the multi Media conglomerate, CANDY VILLE, specializing in Entertainment, Events, Prints and Productions. He is currently a Special Assistant (Media) to the Former Governor of Abia State and Chairman Slok Group, Dr. Orji Uzor Kalu. Anyalekwa is also the National President, Online Media Practitioners Association of Nigeria (OMPAN) https://web.facebook.com/emehjames