Key facts
- Nigeria plans to refinance high-cost debt.
- Funds will be raised to help plug the budget deficit.
- Investor confidence is strong due to elevated oil prices.
- The US-Iran conflict is contributing to higher oil prices.
Nigeria is planning to refinance its high-cost debt and raise additional funds to address its budget deficit. This strategy is being supported by strong investor confidence, which has been bolstered by the current elevated oil prices. The increase in oil prices is partly attributed to the ongoing conflict between the US and Iran. Finance Minister Taiwo Oyedele discussed these plans with Bloomberg's Jennifer Zabasajja in London.