FGN’s US$ domestic bond: A novel initiative to transform Nigeria’s economic landscape, By Ifiok Bassey

The bond is expected to boost Nigeria’s foreign reserves and help in stabilization of the exchange rate. From the inception of the President Bola Tinubu administration, the fact was not lost on many Nigerians that the road to economic recovery wasn’t going to be an easy one – certainly, not in the state the new administration met it. If expectations for something of a miracle were high, it was perhaps due to the urgency of the attention the situation required. About 15 months down the road, it cannot be said that there is nothing to encourage the belief that the country is on the right track. If anything, there is something to talk about the president’s vision, boldness and political will to take tough decisions, but with the certainty of achieving positive outcomes. Feelers coming out regarding the $500 million Federal Government of Nigeria Domestic Bond offer that ran from 19 – 31 August, 2024 indicate an overwhelming response with strong possibility that it may have been significantly over-subscribed , far exceeding initial expectations, underscoring the strong confidence that Nigerians both individual and institutional investors have in the Nigerian economy and the leadership of President Bola Tinubu administration.