FG’s $1.7bn Eurobond Oversubscribed at $9.1bn, Sign of Investors’ Confidence in Ongoing Reforms Emmanuel Addeh in Abuja Nigeria’s latest Eurobond offer has been oversubscribed at $9.1 billion, marking Nigeria’s successful return
to the international bond market after a two year hiatus, in sign of a possible investors’ confidence in the West African country’s economy. This is coming after a long wait,
as the country issued a dual-tranche Eurobond offering under its Global Medium Term Note Programme to finance the country’s 2024 fiscal deficit today.
However, the issuance which closed yesterday, although it was oversubscribed in excess of $9 billion, but the federal government eventually took just $2.2 billion across both bonds.
The federal government sold $700 million worth of the 6.5 year Eurobond maturing in 2031 at a coupon rate of 9.625 per cent and $1.5 billion of the 10-year tenure at 10.375 per cent.
It marked a pivotal moment in the country’s ongoing efforts to address its growing fiscal deficit, with the funds Continued on page 10
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Oyedele: We'll Not Withdraw Tax Reform Bills, Committee Ready to Re-engage Stakeholders Dogara: Nigerians should remove cap of regionalism, religion
James Emejo in Abuja, Mary Nnah and Funmi Ogundare in Lagos Chairman, Presidential Advisory Committee on Fiscal Policy and Tax
Reform, Mr. Taiwo Oyedele, yesterday, said the federal government did not intend to withdraw the controversial tax reform bills currently before the National Assembly.
Speaking at a town hall meeting on “Tax Reform Bills: Charting the Way Forward”, which was hosted by a national television, Oyedele said the committee was rather ready to
repeat engagements with stakeholders. There had been growing calls by some northern politicians that the bills be withdrawn to allow for further engagements following the
controversies they had generated since their introduction. However, Oyedele explained that contrary to speculations, there were no provisions in the bills that
allowed for tax consultants to take over tax collection responsibilities. He added that those duties will still be Continued on page 10
Presidency: No Provision Will Impoverish North in Tax Bills
Says proposed legislations didn't recommend scrapping TETFUND, NASENI, NITDA Tinubu welcomes public debate generated by proposed law Like PIA, NASS will pass bills, Seriake Dickson declares Says sky won't fall during public hearing Peter Obi backs reforms, calls for robust debate Story on page 10
USD100 MILLION FDI BOOST FOR ENUGU WATER INFRASTRUCTURE...
L-R: Managing Director, OSTAP International Water Consulting, Christopher Gierlinger; MD, WANDE Nexus Nigeria, Nnaemeka Nwankwo; Executive Chairman, WANDE Nexus, Dr. Ugochukwu Ugbor; Governor of Enugu State, Dr. Peter Mbah; Ambassador of Austria to Nigeria, Thomas Schlesinger; Corporate Secretary, WANDE Nexus, Mr. Nwabueze Ugwu; and the Special Adviser to the Governor on Water and Waste Management, Andreas Gebauer, at Government House, Enugu, during the signing of the $100 Million Investment by the Austrian firm to boost water infrastructure and delivery in Enugu City ... yesterday (See story on page 10)