Amaka Obiefuna.

Mr. Godwin Emefiele, Nigeria’s Central Bank Governor has said that federal government has wet investors appetite after it issued the $3.5bn Eurobond.

Emefiele was part of the roadshow for the bond programme, he said the oversubscription to the bond was a demonstration of investors’ confidence in the economic agenda of the Federal Government. “I was part of the roadshow to the bond issuance programme and the information I got is that the bond is oversubscribed to the tune of $11bn.

“However, we could only access $3.5bn in two tranches. From that, you will note that the investor confidence in the Nigerian economy is strong based on most of the macroeconomic indices and also supported by the decisions of both the monetary and fiscal policies.”

He added, “There is confidence in the economy by the investor communities on what the government is doing and the level of confidence has improved.

“As policy makers, we cannot rest on our laurels; we need to remain focused and a country that grows its population by an average of three per cent, nothing short of going back to the historical level of growing by an average of six per cent would be considered good.”

He dismissed claims in some quarters that borrowing was not good for the economy, adding that the funds, which the government was raising through debt instruments, would be used to finance infrastructural projects that would unlock the potential of the economy.