Business

DMO Offers N225bn Bonds For Subscription

Published

3 years ago

October 13, 2022

The Nigerian Debt Management Office, DMO has offered three Federal Government Bonds, which are valued at N225 billion for subscription.

This disclosure is contained in a circular on the website of the DMO’s office.

The bonds include; 14.55 per cent, April 2029 FGN Bond, a 12.50 per cent, April 2032 FGN Bond and a 16.24 per cent, April 2037 FGN Bond.

The Debt office said the bonds opening date for the auction is slated for Oct.17 and the settlement date is Oct.19, with original tenors of 10 years, 10 years and 20 years

The office explained that: “The bonds are offered at N1,000 per unit subject to a minimum subscription of N50 million , and in multiples of N1,000 thereafter.”

“They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act; and for Tax Exemption for Pension Funds Administrators, among other investors,” the DMO added.

They are qualified as assets for liquidity ratio calculation for banks, therefore, listed on NGX Limited and FMDQ OTC Securities Exchange.

“They are backed by the full faith and credit of the Federal Government and charged upon the general assets of the country,’’ it said.

DMO also noted that the successful bidders would pay a price corresponding to the yield-to-maturity bid, including accrued interest on the instrument and the re-opening of the previously issued bonds.

Business

NNPCL Increases Fuel Price

Published

2 days ago

August 5, 2025

Editor

The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

Business

Naira Appreciates Against Dollar As External Reserves Swell

Published

2 days ago

August 5, 2025

Editor

The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

Business

Naira Continues To Appreciate Against Dollar On Official Market

Published

5 days ago

August 1, 2025

Editor

The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.