Nigerian Finance Minister Olawale Edun said as part of his strategy to stabilize and grow the economy that Nigeria plans to issue a diaspora bond worth up to $500 million.

The dollar-denominated bond, scheduled to be issued in the third quarter, aims to attract investment from Nigerians living abroad and those with economies abroad. This obligation to demonstrate the strength and resilience of the economy in the context of ongoing economic reforms. According to the minister in a statement released at the end of the day on Thursday, Nigeria's decision to issue these securities comes in the wake of ongoing reforms led by President Bola Tinubu, which have allowed significant progress, including a budget deficit projected at 4%