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Nigeria’s Euro Bond Trades At 5.5%

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13 years ago

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The Nigeria Euro bond is trading at an average yield of 5.52 per cent at the international Capital Market as at June 14, the Debt Management Office has said.

Its Director-General, Dr Abraham Nwankwo  said  on Sunday in Abuja that in spite the euro crisis, the Nigerian bond had been trading robustly at the international market.

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“In specific terms, for the week ended  June 8, 2012, the average yield of the Nigerian bond in the international capital market was about 5.87 per cent.

“From June 11 to June 14, the average yield was about 5.52 per cent. This shows that for the past two weeks the Nigerian bond had been trading at a premium of between 500 and 800 basis points.

“Showing that when investors take into account the internal realities of the Nigerian economy and polity, as well as the ongoing in other countries and economic regions, they end up placing a premium on the Nigerian economy.’’

Nwankwo said that the bond had been trading at a yield much lower than either the 7 per cent at which it was issued or the 6.75 per cent coupon paid the investors for the bond.

According to him, the yield reflect at what price the bond is trading at the secondary market adding that whether it is going up or down has nothing to do with the amount at which it is serviced.

He noted that the movement in the yields indicated investor’s perception of the Nigerian economy in general and the investment climate in particular relative to the strength of other economies from time to time.

“It shows that investors are confident that in the next five years to seven years, the current efforts being made in the Nigerian economy will manifest in an economy growing even faster, and more importantly creating jobs and wealth for the majority of the population.’’

Nwankwo said that with the ambivalence dominating the American economy as well as uncertain projection regarding the Chinese and Indian economies, investors’ interests were stronger with emerging economies.

He added that with the country’s on-going reforms, it remained the destination of choice for investors across the world.

“Given Nigeria’s ongoing reforms and its undeniable huge resource base and profitable investment potentials, the country is naturally a strong alternative destination for discerning investors.

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Kenyan Runners Dominate Berlin Marathons

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2 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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2 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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2 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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