Business

FG’s January Bonds Oversubscribed By N175bn –DMO

Published

4 years ago

January 21, 2022

DG, Debt Management Office, Patience Oniha

The Federal Government’s bonds for January worth N150bn, which were auctioned on January 19, were oversubscribed by N175.24bn, the Debt Management Office has said.

The DMO said on Friday the total subscription received from investors was N325.24bn.

It said a subscription of N11.19bn was received for the 12.50 per cent FGN January 2026 bonds and N214.05bn for the 13 per cent FGN January 2042 bonds, which recorded the highest subscription.

The debt office said a total of N170.64bn was allotted, comprising N81.72bn and N88.92bn.

It said, “Successful bids for the 12.50 per cent FGN January 2026 and 13 per cent FGN January 2042 were allotted at the Marginal Rates of 11.50 per cent and 13 per cent, respectively.

“However, the original coupon rates of 12.5000 per cent for the 12.5000 per cent FGN January 2026 will be maintained, while the coupon rate for the 13 per cent FGN January 2042 (New Issue) is set at 13 per cent.”

The DMO had earlier released its bond issuance calendar for the first quarter of 2022, which the auction dates being January 19, February 16, and March 23.

The Federal Government planned to acquire about N480bn in new debt capital from the domestic capital market in Q1 2022, according to its bond issuance calendar.

(PUNCH)

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

6 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.