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FG ENCOURAGES NNPC TO INVEST IN PRIVATE REFINERIES, SHIFTS FOCUS FROM GOVERNMENT-OWNED ONES
Detailed Breakdown:
1. Context: The Minister of State for Petroleum Resources, Heineken Lokpobiri, has advised the Nigerian National Petroleum Company Limited (NNPC) to focus on acquiring equity stakes...
NEW FGN SAVINGS BONDS OFFER HIGHER RETURNS OF 17% AND 18%
The Debt Management Office (DMO) has announced the launch of the October 2024 Federal Government of Nigeria (FGN) savings bond offer, which includes two bond series featuring competitive interest rates. These bonds are available for...
FG OFFERS N150BN BONDS FOR SEPTEMBER AUCTION
Detailed Breakdown:
The Debt Management Office (DMO) has announced that the Federal Government of Nigeria is offering three bonds worth a total of N150 billion for the September auction. These bonds are re-openings of previously issued instruments...
FEDERAL GOVERNMENT INITIATIVES TO REVAMP NIGERIA'S ECONOMY
The Federal Government of Nigeria has announced a series of initiatives aimed at stimulating economic growth through reduced corporate taxes, single-digit interest rates, and support for local manufacturing. Wale Edun, the Minister of...
FG DEMANDS BVN, NIN FOR $500M BOND SUBSCRIPTION
Main Points:
1. New Financial Instrument Requirements:
- The Federal Government requires investors in its new domestic dollar bond to provide a Bank Verification Number (BVN) and National Identification Number (NIN).
- The bond is part of a...
$500 MILLION DOMESTIC FGN US DOLLAR BOND ISSUANCE
1. Target Audience:
- Pension Funds and Banks: The Federal Government is specifically targeting pension funds, which are worth over N20 trillion, and banks as key participants in this maiden bond offering.
- Nigerians and Foreigners: The...
PRIVATE JET CONTROVERSY, WINDFALL TAX, AND BANK CAPITALISATION
SUMMARY:
Recent debates in Nigeria's banking sector have focused on two major issues: a proposed windfall tax on banks' excess profits and the purchase of private jets by bank executives. These topics featured prominently in a...
FG NEEDS N35bn TO RESTART AJAOKUTA LIGHT STEEL SECTION - MINISTER
The Federal Government has made significant progress in raising over N35 billion needed to restart the Ajaokuta Steel Company’s Light Mill Section (LMS), according to Prince Shuaibu Audu, Minister of Steel Development. During a...
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