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Breaking: FG Plans ₦900B Borrowing From Local Market This Month.
The Federal Government plans to raise ₦900 billion from the domestic debt market through its January 2026 bond auction, doubling the ₦450 billion targeted in the same period last year.....KINDLY READ THE FULL STORY HERE▶
Offer documents from the Debt Management Office (DMO) show that the January 2026 auction will feature three reopened Federal Government of Nigeria (FGN) bonds totaling ₦900 billion, marking a 100% year-on-year increase in the size of the January offer.
The move highlights rising fiscal pressures and the government’s growing reliance on the local bond market to meet funding needs. In contrast, the January 2025 auction reflected a more restrained borrowing approach despite high interest rates at the time.
In the 2025 auction, the DMO offered three bonds across five-year, seven-year, and ten-year tenors, targeting a total of ₦450 billion:
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₦100bn from a five-year bond due April 2029 (19.30% coupon)
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₦150bn from a seven-year bond due February 2031 (18.50% coupon)
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₦200bn from a ten-year bond due January 2035
The smaller offer reflected lower funding requirements then.
For January 2026, the government aims to raise:
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₦300bn from a reopening of the 18.50% FGN February 2031 bond
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₦400bn from a reopening of the 19.00% FGN February 2034 bond
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₦200bn from a reopening of the 22.60% FGN January 2035 bond
This represents a larger scale and a shift toward longer-dated instruments, with ten-year bonds accounting for ₦600 billion, or about two-thirds of the total, compared with just ₦200 billion in 10-year paper in January 2025.
Borrowing Costs Remain High
Coupon rates remain elevated, reflecting tight monetary conditions, persistent inflation, and investors’ demand for higher yields. Notably, the 22.60% coupon on the January 2035 bond is a significant increase over comparable tenors a year ago, highlighting the rising cost of borrowing.
The DMO stated that bonds will be sold at ₦1,000 per unit, with a minimum subscription of ₦50.001 million. Interest will be paid semi-annually, and principal will be repaid in full at maturity under a bullet repayment structure. For reopened bonds, prices will be determined by the yield that clears the auction volume, plus accrued interest.
Despite the larger January auction, Finance Minister and Coordinating Minister of the Economy Wale Edun said the government plans to rely more on domestic resources and reduce borrowing dependence.
Speaking to Bloomberg Television at the World Economic Forum in Davos, Edun said the administration’s priority is revenue generation.
“The focus now is on revenue and domestic resource mobilisation. We’re hoping to rely less on borrowing,” he said.
Edun added that Nigeria could still access international bond markets if necessary, but the government’s main focus remains strengthening domestic revenue sources. He highlighted ongoing efforts to improve tax collection and enhance fiscal sustainability, which are critical to reducing long-term debt dependence and stabilising public finances.
Bamidele Kehinde, Director of Dynamic Ambassadors for Social Orientation Initiatives and the City Transformation Project, has expressed appreciation to the Federal Government of Nigeria for its efforts in securing the release of Pastor Benjamin Egbaji, who was reportedly held in detention in the Republic of Benin for over two years under difficult conditions.....KINDLY READ THE FULL STORY HERE▶
Pastor Egbaji, a Nigerian cleric, was said to have endured harsh treatment during his detention, including prolonged confinement. His release followed a presidential pardon granted by the authorities in Benin Republic under President Patrice Talon.
Speaking on News Central TV, Dr. Kehinde praised the diplomatic efforts that led to the cleric’s freedom, describing the process as lengthy and challenging. He noted that significant progress was achieved after Bianca Odumegwu-Ojukwu was appointed Minister of State for Foreign Affairs.
He stated that although there was no personal connection or financial influence involved, the minister actively engaged Benin Republic authorities through diplomatic channels. According to him, her visit and negotiations played a key role in securing Pastor Egbaji’s release.
Dr. Kehinde also commended all individuals and institutions that contributed to the advocacy efforts, including Moses Eyo, Dickson Umu Unung, the Cross River State Government, CP Alobi Lawrence (rtd), Joseph Bisong Ayi, Blessing Harrison, Eze Sampson, and Rt. Hon. Legor Idagbo.
He said their combined efforts were instrumental in achieving the cleric’s freedom.
He added that while Egbaji’s release is a major relief, the cleric now faces the task of recovering and rebuilding his life after years of hardship. He called for continued support to help him reintegrate into society.
Dr. Kehinde also urged stronger government commitment to protecting Nigerian citizens abroad and enhancing diplomatic engagement across West Africa to prevent similar cases in the future.
The Civil Defence, Correctional, Fire, and Immigration Services Board (CDCFIB) has provided an update on its ongoing nationwide recruitment exercise.....KINDLY READ THE FULL STORY HERE▶
The board stated that 1,120,491 applications were successfully completed and processed, allowing candidates to proceed to the computer-based test (CBT) stage.
It also disclosed that 432,935 applications were left incomplete, while 360,923 applicants were disqualified during screening and shortlisting for failing to meet the required criteria.
In total, the recruitment exercise recorded over 1.8 million applications across the country.
The exercise covers agencies under the board, including the Nigeria Immigration Service, Nigeria Security and Civil Defence Corps, Federal Fire Service, and the Nigeria Correctional Service.
CDCFIB also released a breakdown of CBT performance, showing that 221,996 candidates scored between 0–40, 229,155 scored between 41–60, 278,543 scored between 61–80, while 142,697 scored between 81–100.
The recruitment process is now expected to move to the next stage, which includes physical screening and document verification. Shortlisted candidates will be contacted with details of their screening venues, dates, and required documents.
The board reiterated that the entire process is free of charge and advised applicants to rely only on official communication channels for updates, warning against misinformation and unauthorized messages circulating online.
The Nigerian Air Force (NAF) has confirmed that its Air Component of Operation HADIN KAI conducted precise airstrikes in the Yuwe axis of the Sambisa Forest, resulting in the elimination of several terrorist elements on Monday.....KINDLY READ THE FULL STORY HERE▶
This was contained in a statement issued on Tuesday in Abuja by the Director of Public Relations and Information, Air Commodore Ehimen Ejodame, who noted that military operations in the North-East continue to maintain strong pressure on insurgent groups.
He explained that the operation was based on credible intelligence, supported by Intelligence, Surveillance, and Reconnaissance (ISR) activities, which identified active terrorist presence within fortified positions and underground hideouts.
According to him, NAF air platforms successfully engaged the targets using precision-guided munitions, destroying the structures, neutralising multiple terrorists, and dismantling key logistics facilities. This was later confirmed through battle damage assessments.
The statement added that sustained air operations have continued to weaken terrorist networks, disrupting their activities and forcing them into more defensive and unstable responses.
The Chief of the Air Staff, Air Marshal Sunday Aneke, also reiterated the Air Force’s commitment to maintaining continuous, intelligence-driven operations aimed at completely neutralising terrorist threats.
He further assured that the NAF remains focused on protecting its personnel, safeguarding national security, and ensuring the safety of citizens, while continuing precision operations in line with strict rules of engagement to minimise civilian impact.
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