FGN – InfoStride News

FG raises N297.006 billion in June auction, 66% of target as demand tapers

Temitope Nlewemchi — Wed, 26 Jun 2024 22:48:31 +0000

The federal government has raised N297.006 billion from the June bond auction, which is only about 66% of its target. The amount raised in June is approximately 22% less than the N380.769 billion raised in May. The total subscription across all tenors reached N305.257 billion, far lower than the N551.316 billion in subscriptions recorded in [...]

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Nigeria’s public debt rises by N24.33 trillion in three months

Temitope Nlewemchi — Thu, 20 Jun 2024 20:01:46 +0000

The Debt Management Office (DMO) of Nigeria has announced that the nation’s total public debt has increased significantly to N121.67 trillion (approximately $91.46 billion) as of March 31, 2024. According to a statement from the DMO, this figure encompasses the combined domestic and external debts of the Federal Government of Nigeria (FGN), the thirty-six state governments, [...]

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Surge in Demand: FGN Medium-Term Bonds Oversubscribed, Breaking February Trend

Temitope Nlewemchi — Wed, 13 Dec 2023 22:43:18 +0000

In a significant turn of events, the medium-term bonds of the Federal Government have experienced oversubscriptions for the first time since February 2023. The specific bonds in question are the 14.55% FGN APR 2029 and 14.70% FGN JUN 2033 bonds, both of which have garnered heightened attention from investors. Infostride News learned that the Debt [...]

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FGN Treasury Bills Demand Soars: Subscriptions Surge 182.4% to Reach N875.8 Billion

Temitope Nlewemchi — Fri, 10 Nov 2023 17:21:52 +0000

On Wednesday, November 8, 2023, the Nigerian Treasury Bills (NT-bills) took center stage, capturing the attention of investors as they experienced an extraordinary oversubscription of 182.4%. This surge in interest resulted in the Central Bank of Nigeria (CBN) witnessing subscriptions amounting to a staggering N875.8 billion, significantly surpassing the initially offered N310 billion. The breakdown [...]

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President Tinubu bars FGN officials with no direct UNGA link from travelling to US

Ifeanyi Nwagboso — Mon, 28 Aug 2023 12:38:34 +0000

The United Nations General Assembly is taking place in New York City, and President Bola Tinubu has ordered the Federal Ministry of Foreign Affairs to stop issuing visas to any government officials planning to attend. This afternoon, the President issued an order that is thought to be part of a larger effort to lower the [...]

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FG to kick off monitoring of implementation of National Minimum Wage Act 2019

Temitope Nlewemchi — Mon, 08 Nov 2021 18:06:59 +0000

The Federal Government has established that it will soon commence monitoring the implementation of the National Minimum Wage Act 2019, which increased Nigeria’s minimum wage from N18,000 to N30,000. This was made known by the Chairman/CEO of the National Salaries, Incomes and Wages Commission, Mr Ekpo Nta, in Abuja, on Thursday. He added that the monitoring [...]

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FG to resume monitoring of implementation of National Minimum Wage Act 2019

Temitope Nlewemchi — Fri, 05 Nov 2021 21:25:30 +0000

The Federal Government has disclosed that it will soon begin monitoring the implementation of the National Minimum Wage Act 2019, which raised Nigeria’s minimum wage from N18,000 to N30,000. This was disclosed by the Chairman/CEO of the National Salaries, Incomes and Wages Commission, Mr Ekpo Nta, in Abuja, on Thursday. He added that the monitoring of the [...]

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Nigeria’s debt profile unsustainable

Temitope Nlewemchi — Sat, 16 Oct 2021 22:17:22 +0000

The Nigeria Employers Consultative Association (NECA) says the nation’s debt profile is worrisome and unsustainable for the economy. Timothy Olawale, NECA director-general, according to Vanguard, said this during the weekend, advising the federal government to adopt the public-private-partnership (PPP) approach to carry out infrastructural developments. Earlier in September, the Debt Management Office (DMO) announced that [...]

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Opposing the Inflation, Nigerian equities market best hedge vehicle says FDC

Temitope Nlewemchi — Tue, 07 Sep 2021 08:31:47 +0000

The Financial Derivatives Company (FDC) has revealed that the Nigerian equities market was the best financial instrument to hedge against inflation from the periods of August 2020 to August 2021. The FDC disclosed this in its inflation vs investment return data released for August, on Sunday, in Lagos, according to the News Agency of Nigeria. [...]

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700-hectare farm estate’ll curb herders/farmers clashes – FG

Temitope Nlewemchi — Sat, 28 Aug 2021 21:19:53 +0000

Executive Secretary, National Agricultural Land Development Authority, Paul Ikonne The Federal Government has said the 700-hectare integrated farm estate being developed in Okwuha Obayin Village in Ajaokuta Local Government Area of Kogi State will curb clashes between herders and farmers within and outside the state. It said the major reason for developing the facility [...]

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Minister: Nigeria will start producing airplanes before President Buhari leaves

Temitope Nlewemchi — Wed, 25 Aug 2021 21:25:27 +0000

The Federal Government has announced that production of airplanes in Nigeria will commence before President Muhammadu Buhari leaves office. Aviation Minister Hadi Sirika gave the hint when he paid an inspection visit to the Magnus Aircraft Industry in Pogany, Hungary. “If we venture with them, we may start with assembling plant and later manufacturing”, James [...]

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FG to grant agric investors plant variety protection rights

Temitope Nlewemchi — Sat, 14 Aug 2021 18:55:35 +0000

The Federal Government has announced its readiness to receive and process applications for the granting of plant variety protection rights to agric investors. The Minister of Agriculture and Rural Development, Sabo Nanono, and the Director-General, National Agricultural Seeds Council, Olusegun Ojo, announced that this was part of moves by the government to implement the Plant [...]

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Federal Ministry Of Finance Disclaimes Three Million Alleged Grant

Adebimpe A. — Wed, 28 Oct 2020 16:58:37 +0000

The Federal Ministry of Finance, Budget and National Planning has disclaimed purported Federal Government three million naira grant. The Ministry today stated that its attention has been drawn to a link that is being shared on social media, requesting members of the public to apply for an alleged three million grant from the Federal Government. [...]

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