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Nigeria Secures $900M in Landmark Foreign-Currency Domestic Bond

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Nigeria Secures $900M in Landmark Foreign-Currency Domestic Bond....KINDLY READ THE FULL STORY HERE▶

Nigeria has achieved a significant milestone with its first-ever foreign-currency domestic bond, securing $900 million in subscriptions. This historic bond issuance, announced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reflects growing confidence in the country’s economic potential and stability.

During a discussion on the results of the bond issuance, Edun emphasized that the overwhelming response, surpassing initial expectations, demonstrates both local and international investor trust in Nigeria’s financial future. He highlighted how this bond issuance aligns with the government’s strategy to deepen economic growth while promoting financial inclusion.

Economic Growth and Financial Diversification

Edun further explained that the successful issuance marks a crucial step toward diversifying Nigeria’s funding sources, especially amid current economic challenges. “The issuance of this inaugural domestic FGN US Dollar Bond highlights the continued faith investors have in Nigeria’s economy,” he stated.

The bond attracted a diverse pool of investors, including Nigerians at home and abroad, as well as various institutional investors. These funds will be channeled into critical sectors of the economy, in line with President Bola Ahmed Tinubu’s development agenda.

Structure of the Bond and Future Plans

The $500 million domestic FGN US Dollar Bond, with a five-year maturity and a 9.75% coupon, represents the first tranche of a larger $2 billion bond program. This program, registered with the Securities and Exchange Commission, gives the government the flexibility to absorb oversubscriptions, extending up to the full $2 billion limit.

Patience Oniha, Director-General of Nigeria’s Debt Management Office, described the bond’s success as a pivotal moment for the country’s economic development. She noted that the $900 million raised from various investors reflects the increasing sophistication of Nigeria’s domestic fixed-income market. Oniha commended the expertise and efforts of all involved, crediting them for the transaction’s smooth execution.

Key Milestone for Nigeria’s Financial Future

This landmark bond issuance underlines Nigeria’s ongoing efforts to solidify its position in global financial markets while reinforcing the country’s commitment to fostering sustainable growth. With the bond proceeds set to target key economic sectors, the government aims to address pressing economic needs while building investor confidence for future funding initiatives.

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“Give Us More Time!”—Tinubu Appeals To Nigerians For Patience With Ongoing Reforms Ahead Of 2027

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President Bola Tinubu has appealed to Nigerians to grant his administration more time to fully implement and complete its ongoing reforms and programs.....KINDLY READ THE FULL STORY HERE▶

The President made this appeal through the Speaker of the House of Representatives, Tajudeen Abbas, during a special Juma’at prayer at the National Mosque in Abuja. The prayer was part of the activities commemorating Nigeria’s 66th Independence Anniversary.

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Reflecting on the country’s journey, President Tinubu noted that at 66 years old, Nigeria has reached maturity despite facing a mixed journey of past challenges and missed opportunities. He assured citizens that his administration is actively working to correct the cumulative mistakes inherited from previous governments.

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Key Highlights of the President’s Message:

  • Call for Patience: President Tinubu urged citizens to give the current government more time and opportunity to conclude its reform initiatives.

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  • Hope for the Future: Conveying the message alongside the leadership of the National Assembly, Speaker Abbas assured Nigerians that peace and development are returning to the country.

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  • On the Right Track: The President stated that Nigeria is firmly on the right path, maintaining that there is light at the end of the tunnel as the nation works toward greatness.

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The OK Movement That We Know, Did Not Authorize This Statement – NDC Rejects Oghulu

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A major political feud has erupted within the opposition coalition as the Nigeria Democratic Congress (NDC) officially distanced itself from a faction of the OK Movement led by John Oghulu. The friction follows Oghulu’s public refusal to surrender the movement’s national, state, local government, and ward structures to the NDC, insisting that the group is an independent political organization rather than a conventional support group.....KINDLY READ THE FULL STORY HERE▶

The controversy gained momentum after NDC National Leader, Senator Seriake Dickson—speaking while welcoming former SGF Babachir Lawal into the party—criticized support groups that operate as rival structures instead of focusing on grassroots mobilization for candidates Peter Obi and Rabiu Kwankwaso.

Reacting sharply to Oghulu’s dismissal of these concerns, the NDC Director of New Media and Strategic Communications, Theo Abu Agada, issued a blistering clarification on social media:

  • Disowned Leadership: Agada declared that John Oghulu’s faction does not speak for the party, stating explicitly, “The OK movement that we know, did not authorize this statement.”

  • Working Against the Party: The NDC spokesperson accused Oghulu of actively undermining both the NDC and the broader Obidient movement.

  • True Grassroots Alignment: Agada affirmed that the legitimate wing of the OK Movement remains in close collaboration with the party to drive mobilization for the upcoming 2027 elections.

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THE UNTOLD STORY: How Senator Yayi Flew In Indian Doctors Before Tragedy Struck Late Ogogo!

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Azeez “Olu Ogogo” Onifade, a close friend of the late veteran Nollywood actor Taiwo Hassan (popularly known as Ogogo), has revealed the extensive efforts made by Ogun State APC governorship candidate Solomon Ademola (Senator Yayi) to save the beloved movie star.....KINDLY READ THE FULL STORY HERE▶

In an interview with City People, Onifade—who shared a 25-year friendship with the actor—recounted how persistent chest pain ultimately led to a devastating stage-four cancer diagnosis after visits to multiple medical facilities, including Apena Hospital in Ebute-Metta and LASUTH.

Key highlights from the emotional revelation include:

  • The Senator’s Intervention: Upon learning of the diagnosis through the monarch and Aunty Mutiat, Senator Yayi initially attempted to fly Ogogo to India, but visa delays stalled the plan.

  • Indian Specialists Brought to Nigeria: To circumvent the travel delays, Senator Yayi flew in a specialist doctor straight from India to join the medical team.

  • The Final Days: Ogogo was swiftly moved to St. Nicholas Hospital on Lagos Island where multiple specialists commenced treatment, and he showed signs of recovery before a sudden turn of events five days prior to his passing.

Onifade expressed gratitude, noting that despite the heartbreaking loss, he believes God made the transition peaceful for the late icon due to his good deeds.

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