2016 budget fg raise 1bn via eurobond november

You're referring to the 2016 budget of the Federal Government of Nigeria, which was presented by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, in December 2015.

As part of the budget, the government planned to raise $1 billion (approximately N189 billion at the time) through a Eurobond issuance in November 2016. The Eurobond was a 10-year bond with a coupon rate of 7.875% and a yield to maturity of 8.125%.

The proceeds from the Eurobond issuance were intended to be used to finance the government's budget deficit, which was projected to be around N2.2 trillion (approximately $6.5 billion) in 2016. The deficit was expected to be financed through a combination of domestic and foreign sources, including the Eurobond issuance.

The Eurobond issuance was successful, with the government raising the full amount of $1 billion. The bond was oversubscribed, with demand exceeding the initial offer by over 10 times. The successful issuance of the Eurobond helped to boost investor confidence in the Nigerian economy and provided a much-needed injection of foreign capital into the country.