Against the backdrop of controversies surrounding the current state of the nation’s economy, the Federal Government is making arrangement to issue a second batch of Eurobonds of at least $600 million next year.

The Coordinating Minister of the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, who disclosed this to a foreign news agency, Reuters in London, on Tuesday, noted that the bonds could be open to Nigerians in the diaspora.

She was optimistic that the bond would be a success following interest shown by investors in the non-deal road show with investors in February.

"We will have a larger bond issue but we may decide that a portion of that should be directed to the diaspora. We have to watch what is happening with the global markets. We want to make sure that we float this at a time when it will be successful," she said.

It will be recalled that the government issued a debut $500 million Eurobonds in January last year, which were 2.5 times oversubscribed.

The minister also disclosed that the government would announce in August the management team for its Sovereign Wealth Fund (SWF), which it expects to launch by the end of this year.

According to her, the members of the SWF board had been chosen and would be announced in August once due diligence had been carried out.

"By September/October, we should be getting the team in place and we should be able to launch by the end of the year. We are in the last stage of due diligence," she stated.

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