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The Federal Government has raised over $900 million from investors.
The bond, which was over 180 percent subscribed, marks a crucial step in broadening Nigeria’s funding avenues amid global economic headwinds.
The Debt Management Office (DMO), which handled the issuance on behalf of the Federal Government, announced that the bond had been priced at par with a semi-annual coupon rate of 9.75 percent and a five-year tenor.
This issuance is the first under the Domestic FGN US Dollar Bond Programme, established pursuant to the 2023 Presidential Executive Order No. 16 (Foreign Currency Denominated Financial Instrument Local Issuance Programme and Related Matters Order).
According to officials, proceeds from the bond will be deployed to critical sectors of the economy, subject to legislative approval, as part of ongoing efforts to sustain growth and address key infrastructure gaps.
Investors participating in the bond cut across a broad spectrum, including Nigerian residents, non-residents, Nigerians in the diaspora, and qualified institutional investors, underscoring the broad-based appeal of the instrument.
The bond will be listed on the Nigerian Exchange Limited (NGX) and FMDQ Securities Exchange Limited, increasing its accessibility and tradability within the domestic financial ecosystem.
Wale Edun, minister of finance and coordinating minister of the economy, hailed the success of the issuance, noting that it signals robust investor sentiments towards Nigeria’s economic trajectory.
Edun reaffirmed the administration’s focus on economic reforms, describing the bond as a testament to the Federal Government’s resolve to explore innovative funding solutions while promoting financial inclusion.
“The 180 percent subscription and the broad participation in the bond reflect confidence in our economy,” Edun said.
News
Breaking: Court of Appeal rules in favour of Turaki -led PDP candidate for Osun governorship election
The Court of Appeal, Abuja Division, on Thursday, ruled that the Peoples Democratic Party, PDP Gubernatorial Candidate in Osun State was validly nominated by the Tanimu Turaki-led National Working Committee.
The court also ordered INEC to list the PDP logo on the ballot ahead of Saturday’s gubernatorial election.
The Court held that access code is neither a creation of the Constitution nor the Electoral Act; rather, a creation of INEC’s guidelines and cannot, in any way, override the provisions of the Constitution.
Section 288 of the Constitution does not specify the method for nominating candidates; it only states that the names of candidates should be forwarded to the Commission.
The court further held that the defendant (INEC) should take steps to include the name of the appellant on the ballot paper.
Additionally, the court ruled that the primary election conducted by the Tanimu Turaki-led National Working Committee (NWC) of the PDP was a valid primary election in law.
The three-man panel of justices—Justice Mahmud, Justice Jaro, and Justice Ankawere, was unanimous in its judgment.
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Breaking: NHRC sets up situation room to monitor and document hate speech, intimidation, threat to life ahead 2027
The national Human Rights Commission, NHRC, has set up a situation room to monitor and document all incidences of hate speech, intimidation and threat to life by politicians and other actors ahead of the 2027 general election.
The National Human Rights Commission (NHRC) has expressed concerns over rising incidences of hate speech, intimidation and outright threat to life by highly placed individuals, especially politicians and religious leaders.
The Executive Secretary of the Commission, Chef Tony Ojukwu, SAN, revealed this on Thursday in Abuja at a press conference.
He said the situation room would enable the Commission harvest data, analysis and document persons, agencies and others involved in the negative statements in order to ensure they are properly tracked and brought to book by relevant agencies.
Ojukwu also took journalists on a tour of the newly set up situation room.
Details later…..
News
Breaking: NHRC expresses concern over rising incidences of hate speech, threat to life ahead 2027 elections
The National Human Rights Commission (NHRC) has expressed concerns over rising incidences of hate speech, intimidation and outright threat to life by highly placed individuals, especially politicians and religious leaders.
At a press conference in Abuja Thursday, the Executive Secretary of the Commission, Chef Tony Ojukwu, SAN, recalled statements credited to Senator Francis Fadahunsi and Sheikh Yahya Jingir and described the das dangerous with capacity to set the nation ablaze.
He called on politicians, religious and traditional rulers, among other stakeholders to call their supporters and faithful to orders.
He urged government to act before rhetorics turn to violence, saying the forthcoming election in Osun State should serve as example of Nigeria’s capacity to conduct political contest in compliance with international best practices.
Details later…..
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