Nigeria Eurobonds jump as Tinubu hits ground running

Nigeria’s new President Bola Tinubu is rapidly warming himself to buyers after losing no time in saying an finish to the nation’s expensive gas subsidy program and unveiling plans to undertake a single change charge.

Buyers are already reacting to Tinubu’s pro-market insurance policies with the nation’s greenback bonds rallying.

Learn additionally: Naira redesign: Tinubu to deal with outdated, new notes as authorized tender

Debt due in 2047 jumped 3.3% to 66.750 cents on the greenback by 10:10 a.m. in London, in line with Bloomberg information. Bonds due in 2049 gained 2.9% and people maturing in 2051 superior 3.5%.

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