Business

Yields Tilt Upward As Bond Prices Drop

Published

14 years ago

June 27, 2012

There was an uptrend in yields across all maturities for the week ended June 22, 2012 as a result of low demand for fixed income securities.

Market watchers say investors preference for equities which resulted to the bullish trend in the equities market may have been responsible for the decrease in the price of bound.

In the over-the-counter bond market the 20-year, 10, 00 per cent FGN July 2030 bond dipped by N0.23 in price while yield rose to 14.47 per cent.

Also the 10-year, 7.00 per cent FGN October 2019 debt instrument dropped N0.14 in price even as yield firmed to 15.70 per cent.

The 5-year 4.00 per cent FGN April 2015 bond lost N0.10 even as yield rose to 15.00 per cent while the 3-year, 10.50 per cent FGN March 2014 bond shed N0.15 and yield increased to 15.79 per cent.

Meanwhile the Central Bank of Nigeria (CBN) sold a total of N100.62 billion in treasury bills with 91-day and 182-day maturities during its bi-monthly auction last week with mixed yields as against its previous auction.

According to the Apex bank, it sold N37.49 billion worth of the 91-day paper at a return of 14.05 per cent down from the 14.10 per cent at the previous auction even as N63.13 billion worth of 182 –day bills at 15.31 per cent was issued compared with 14.94 per cent at the previous auction.

According to the CBN, Nigeria plans to raise N841.56 billion worth of treasury bills which range from three months to one year in the third months of the year.

The CBN said it would auction N235.19 billion worth in 91-day, 182-day and 364-day paper in the last two weeks of June, N250.44 billion worth in July and N212.70 billion in August and another N142.97 billion worth of the same tenor in the first week of September.

The Equities Sector of the Nigerian Stock Exchange (NSE) rose by 0.99 per cent as the bulls were in charge of the market.

NSE benchmark index, the all share Index finished higher at 21,394.77 basis points having opened at 21,184.54 basis points. The cumulative market capitalisation of listed equities tilted northward as it rose from N6.76 trillion at which it opened the week to N6.83 trillion.

Four of the NSE Sectoral indices were on the upside, NSE 30 index surged by 1.01 per cent while the NSE consumer Goods Index soared by 1.73 per cent.

The NSE Banking-10 index increased by 1.64 per cent even as the NSE Insurance 10 index appreciated by 3.14 per cent, according to NSE weekly report.

On the flipside, the NSE Oil/Gas-5 index dipped by 2.39 per cent.

The market recorded a total turnover volume of 930.68 million units of shares valued at N6.33 billion exchanged by investors in 17, 744 trades even as the banking sub-sector accounted for 493.17 million units of shares at the value of N3.64 billion in 9,880 deals.

Vivian-Peace Nwinaene

Business

Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs

Published

3 days ago

April 10, 2026

The Tide

The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled the plans to host a major economic and investment summit aimed at attracting five billion dollars, ( N7 trillion) investments in addition to creating about 500,000 jobs over the next five years.

The Chairman of NDCCITMA Board, Ambassador Idaere Ogan, disclosed this in Port Harcourt, recently.

Ogan stated that the initiative is designed to reposition the Niger Delta as a viable destination for sustainable economic growth and development.

He explained the summit would bring together investors, policymakers, manufacturers and business leaders from within and outside Nigeria to explore opportunities across key sectors of the regional economy.

According to him, the event is expected to attract high-profile participation, with President Bola Tinubu billed as Special Guest of Honour, while the Prime Minister of Barbados, Mia Amor Mottley, is expected to deliver the keynote address.

Ogan said the summit would focus on critical sectors including agriculture, manufacturing, logistics and the blue economy, which he described as areas with significant untapped potential.

He called on state governments, development partners and private sector stakeholders to support the initiative, stressing that collective efforts are required to unlock the region’s economic prospects.

NDCCITMA chairman further stated that improving security conditions and increasing economic confidence in the Niger Delta have made the region more attractive to both local and foreign investors.

He emphasised that ongoing economic reforms at the national level have also contributed to creating a more favourable investment climate.

Also speaking, the Chairman of the Summit Organising Committee, Dr. Solomon Edebiri, said the event would prioritise the growth of small and medium-scale enterprises (SMEs) across the region.

He noted the summit would provide a strategic platform for networking, business partnership and policy dialogue aimed at strengthening the private sector.

Edebiri disclosed that findings from a recent business roundtable revealed significant untapped investment opportunities, which the summit seeks to harness through targeted collaborations.

He revealed that the event would feature exhibitions of viable projects, facilitate business-to-business and business-to-government engagements, and also promote innovations across multiple sectors.

According to him, the expected outcomes of the summit include job creation, increased industrial activity and improved livelihoods for people in the Niger Delta.

To build momentum ahead of the event, NDCCITMA said the body would embark on awareness roadshows across states in the Niger Delta, as well as in Lagos and Abuja, to attract broad participation.

King Onunwor

Business

NPA Targets N1.489tn Revenue In 2026

Published

3 days ago

April 10, 2026

The Tide

The Management of Nigerian Ports Authority (NPA) has set N1.489 trillion as its Internally Generated Revenue (IGR) target for the 2026 fiscal year.

NPA says the figure represents an increase of N21 billion over the N1.468 trillion target for 2025, which the agency exceeded with an actual revenue of N1.97 trillion.

The Managing Director NPA, Dr Abubakar Dantsoho, stated this during the agency’s 2026 budget defence before the Senate Committee on Marine Transport.

Dantsoho said the authority was set to begin groundbreaking projects for the modernisation of Apapa and Tin Can Island ports to enhance global competitiveness.

According to him, of the projected revenue: N945 billion is allocated for capital projects, N447.5 billion for operating expenses, and

N90.6 billion for remittance into the Consolidated Revenue Fund (CRF).

The MD explained that the budget was anchored on the mantra, “Consolidation, Renewed Resilience and Shared Prosperity.”

Dantsoho said that the modernisation of Apapa and Tin Can Island ports were flagship projects aimed at boosting revenue.

“Apapa and Tin Can Island ports are old and no longer adequate for modern global port operations.

“Apapa Port is about 100 years old, while Tin Can Island Port is over 50 years old, with limited capacity for handling modern vessels and cargo volumes.

“Groundbreaking for their modernisation will commence within the next two to three weeks,” he added.

On the Treasury Single Account (TSA), Dantsoho said all revenues generated by the NPA are paid directly into the account managed by the Central Bank of Nigeria (CBN).

“We do not retain any funds. The Central Bank is the signatory and we must apply for funds whenever needed,” he explained.

Earlier in his remarks,Chairman of the Senate Committee on Ports, Sen. Wasiu Eshinlokun (Lagos Central), said the committee’s oversight function was collaborative rather than adversarial.

“Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest,” he said.

Chinedu Wosu

Business

NPF Disburses ?21.68m To Fallen Heros’ Families …Reinforce Welfare Commitment

Published

3 days ago

April 10, 2026

The Tide

Nigeria Police Force has disbursed a total of ?21,678,120 to the deceased police officers families in Rivers State as part of ongoing welfare interventions by the force.

The gesture formed a major highlight of the activities marking the 2026 National Police Day celebration in the state, underscoring renewed institutional focus on personnel welfare and post-service support systems.

The Commissioner of Police, Olugbenga Adepoju, who presided over the cheque presentation ceremony, said the initiative reflects the Force’s commitment to honouring officers who paid the ultimate price in their line of duty.

He explained that the financial support is designed to cushion the economic burden faced by bereaved families, while also reinforcing confidence among serving personnel about the Force’s long-term welfare structure.

Adepoju conveyed the sympathy of the leadership of the Nigeria Police Force to the beneficiaries, noting that the sacrifices of fallen officers remain invaluable to national security and public safety.

The police boss further stressed that sustained welfare interventions are critical to boosting morale, enhancing productivity, and strengthening institutional loyalty within the Force.

He reiterated that the welfare scheme aligns with broader reforms aimed at repositioning the Nigeria Police Force as a responsive and people-oriented institution.

Beneficiaries of the cheques commended the Inspector-General of Police, Olatunji Rilwan Disu, for prioritising the welfare of officers and their families through consistent and impactful interventions.

They described the initiative as timely and compassionate, noting that it would go a long way in alleviating financial pressures arising from the loss of their loved ones.

The families also acknowledged ongoing reforms under the current police leadership, which they said have strengthened trust, improved service delivery, and enhanced the overall image of the Force.

The Rivers State Police Command reaffirmed its commitment to sustaining similar initiatives as part of efforts to uphold the dignity, sacrifice, and legacy of officers who served the nation with distinction.

King Onunwor