(Adds GDP target, background)<\/p>\n
ABUJA, Aug 30 (Reuters) – Nigeria will launch its planned Eurobond issue on Oct. 11, its finance minister said on Monday.<\/p>\n
Zainab Ahmed also said the country would hold roadshows for the dollar-denominated issuance in Lagos and New York.<\/p>\n
The Debt Management Office (DMO) has previously said the Eurobonds are aimed at raising funds for external borrowing of 2.343 trillion naira ($5.7 billion) earmarked in the 2021 spending plan to partly finance the government\u2019s deficit.<\/p>\n
Nigeria, Africa\u2019s largest economy, is struggling to boost growth after exiting its second recession since 2016 in the fourth quarter of last year. Its incoming statistician-general has said the nation is targeting gross domestic product growth above 5% for 2021.<\/p>\n
Its economy grew 5.01% in the second quarter, according to statistics released last week, as an easing of COVID-19 lockdown measures and an increase in vaccinations boosted commercial activities. However, persistently high inflation has dogged the nation.<\/p>\n