Nigerian government officials met with fund managers in New York last week on a non-deal roadshow held to update bondholders on the country’s growth plan after getting out of recession, an investor presentation showed.
The economy recovered from its worst downturn in a quarter of a century last year, but growth is still fragile. The government is trying to diversify its revenue away from an over-reliance on global oil prices to greater tax collection.
The government sees growth of 4.6% by 2020 from the 1.5% achieved in the first half, by boosting local production, investing in infrastructure and creating jobs. Nigeria’s economy grew just 0.8% in 2017.
Zainab Ahmed, who took over as finance minister after Kemi Adeosun resigned last month, was joined by Central Bank Governor Godwin Emefiele, the head of the debt office and the budget and trade ministers for the meeting on the sidelines of the United Nations General Assembly on Sept. 27.