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Breaking: FG Plans ₦900B Borrowing From Local Market This Month.

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8 months ago

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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:

  • ₦100bn from a five-year bond due April 2029 (19.30% coupon)

  • ₦150bn from a seven-year bond due February 2031 (18.50% coupon)

  • ₦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:

  • ₦300bn from a reopening of the 18.50% FGN February 2031 bond

  • ₦400bn from a reopening of the 19.00% FGN February 2034 bond

  • ₦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.

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“POWER PLAYS ABROAD: Singapore President Personally Invites Tinubu For High-Stakes Engagement!”

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4 minutes ago

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September 18, 2026

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The President of Singapore, Tharman Shanmugaratnam, has extended an official invitation to President Bola Ahmed Tinubu to visit Singapore to deepen diplomatic ties and broaden bilateral cooperation.....KINDLY READ THE FULL STORY HERE▶

  • Delivery of the Invitation: According to a statement issued by the Nigerian Mission House at the United Nations in New York, the invitation was delivered by Singapore’s Permanent Representative to the UN, Ambassador Burhan Gafoor, during a visit to Nigeria’s Permanent Representative to the UN, Ambassador Jimoh Ibrahim.

  • Recognition of Reforms: Ambassador Ibrahim noted that Singapore’s outreach is driven by interest in Nigeria’s ongoing economic reforms, comparing President Tinubu’s bold agenda to the developmental strides of Singapore’s late founding Prime Minister, Lee Kuan Yew.

  • Response and Outlook: Ibrahim accepted the letter on behalf of the Nigerian government, assuring the Singaporean delegation that President Tinubu will honor the invitation at an appropriate time.

  • UN Committee Recognition: During the meeting, Ambassador Gafoor also congratulated Ibrahim on his recent emergence as Chairman of two major UN bodies: the Fifth Committee on Administrative and Budgetary Matters and the Special Committee on Peacekeeping Operations (Committee of 34).

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I Was Offered ₦500m, $200k To Sleep With A Man – BBNaija’s Cross

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September 18, 2026

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Former Big Brother Naija housemate Ikechukwu Okonkwo, popularly known as Cross, has revealed that he previously rejected massive financial offers—including ₦500 million and $200,000—from men seeking sexual favors.....KINDLY READ THE FULL STORY HERE▶

  • Defending Whitemoney: Cross made these statements on while defending fellow reality star Whitemoney, who faced backlash after exposing an unwanted advance from a male admirer on social media.

  • Challenging Stereotypes: Cross asserted that a man’s feminine energy, mannerisms, or presentation do not dictate his sexual orientation, emphasizing that someone can exhibit such traits and still be entirely straight.

  • Rooted Morals: Explaining why he turned down life-changing sums of money, Cross credited the strong values instilled in him by his mother during childhood, stating that he cannot be bought with material things.

  • Calls for Caution and Deliverance: Cross criticized individuals who send inappropriate messages via direct messages without boundaries, suggesting that men attracted to fellow men require spiritual deliverance, while noting that boundaries apply equally to women.

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“STADIUM SHOCKER: Champions Rangers Finally Adopt Awka City Stadium As New Fortress!”

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15 minutes ago

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September 18, 2026

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Nigeria Professional Football League champions Rangers International have officially selected the Awka City Stadium as their home ground for the 2026/27 season.....KINDLY READ THE FULL STORY HERE▶

  • Return to Awka: This marks the second time the nine-time league champions will use Awka as their temporary home ground, having previously played there during the 2022/23 abridged season.

  • Reason for Move: The club is utilizing the stadium while ongoing renovation works continue at their traditional home, the Nnamdi Azikiwe Stadium in Enugu.

  • CEO Confirmation: Club CEO Amobi Ezeaku confirmed the development to Complete Sports on September 18, stating clearly, “We will play in Awka”.

  • Upcoming Schedule: After completing their recent fixtures—including a 2-1 comeback win over Nasarawa United in Owerri and an upcoming Matchday 4 clash against Kun Khalifat—Rangers are set to officially kick off their Awka City Stadium campaign against Ranchers Bees of Kaduna on Matchday 5.

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