The Federal Government has disclosed plans for a bond issuance on the Vienna stock market to raise capital for investments in key sectors of the Nigerian economy.
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, disclosed this on Tuesday while addressing the GPF Global Vienna Meeting in Vienna, Austria, via video message.
According to a statement from the ministry, Bagudu said the Federal Ministry of Budget and Economic Planning, Ministry of Finance and Austrian officials collaborating with the Austrian Stock Exchange had established ESME Limited as a special purpose vehicle to fund investments in Nigeria.
According to him, the company will issue bonds on the Viennese stock market to finance investments by Austrian and other companies in green technology, waste-to-energy, textiles, pharmaceuticals, agriculture and water.
He added that ESME Limited has two representatives from the Ministry of Finance Incorporated and Austrian businessmen on its board.
Bagudu said the Tinubu administration welcomed the progress made by the company towards the forthcoming bond issuance and expressed confidence that it would strengthen business relations between Nigeria and Austria.
What the statement said
The statement read, “Bagudu argued that the successes of the economic reform were sufficient to incentivise Austrian investors, explaining that this was why his ministry, the Ministry of Finance, and Austrian officials collaborating with the Austrian Stock Exchange floated a company, ESME Limited, as a special purpose vehicle to fund investments in Nigeria.
- “He stated that the company has two representatives from the Ministry of Finance Incorporated and distinguished Austrian businessmen on its board, explaining that the company would issue bonds on the Viennese Stock Market to fund investments by…
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