FEC to approve $1b Eurobond

The Federal Executive Council is expected to approve a $1 billion Eurobond proposal at its meeting on Wednesday.
The memo for the proposal, to be presented by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, will be for Nigeria to issue $1 billion Eurobond, $100 million Diaspora bond, and N80 billion Federal Government bond.
This will be done through syndicated global depository notes.
The FEC meeting will also ratify the choice of concessionaire/developer for the development of FESTAC Phase II in Lagos State.
The memo for that is to be presented by the Minister of Lands, Housing and Urban Development, Ama Pepple.
The Minister of Trade and Investment, Dr. Olusegun Aganga, will present a memo seeking a review of the Export Expansion Grant scheme.
The Ministers of Information and Interior, Labaran Maku and Abba Moro, will also brief the Council on the state of their ministries.