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NIGERIA EUROBONDS
A stronger US dollar and uncertainty ahead of Nigeria’s election season could put pressure on the naira and increase the country’s borrowing costs, particularly on its dollar-denominated debt, financial experts have warned.
Nigeria’s external debt has risen by about $12 billion in the last two and a half years under President Bola Ahmed Tinubu, highlighting the increase in borrowing that has accompanied his administration’s economic reforms.
Nigeria's Eurobonds experienced a second consecutive day of underperformance in the emerging-market credit sector according to Bloomberg.