The 8 fold
over- subscription of recent Eurobond [orders in excess of US$7.8 billion
compared to a pre- insurance target of US$1bn] is a strong indication that
international investment community are confident in Nigeria economic reform
agenda, the federal government has said.
The federal
government position was contained in a bulletin of the Aso Villa, “Government
at Work,” released, in Abuja, Tuesday.
According to
the report, the nation’s economy is already on its road to recovery as showed
in the marginal non-oil sector growth rate of 0.03 percent in 2016 Q3 (after
two quarters of consecutive negative growth
The federal
government attributed the marginal growth to the continued good performance in
agriculture and solid minerals, the two sectors that have received greater
attention from the Buhari administration
It further
explained that agriculture grew by 4.54% in the quarter under consideration,
with growth in crop production recording nearly 5 per cent, its highest since
the first quarter of 2014.
Growth in
the solid mineral sector was said to have averaged about 7%.
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