Business
Nigeria Plans N360bn Bonds
Nigeria plans to raise between 210-360 billion naira ($1.34-$2.29 bln) in sovereign bonds ranging between 5 and 20 years in the first quarter of the year, the Debt Management Office (DMO)said on Wednesday in a statement.
The amount being proposed is higher than its 2012 fourth quarter debt issuance and a great amount than the debt issued in the corresponding period of last year.
The Debt Office said it plans to auction between 85-135 billion naira each in 5 7 and 10-year paper on January 23, 75-135 billion naira in 5, 7, 10 and 20-year paper on February 13 and sell 50-90 billion each in 5 and 10-year bonds on March 13.
All the bonds were re-openings of previous issues.
Offshore investors’ interest in local debt has surged since the inclusion of Nigeria’s debt by JP Morgan in its emerging market government bond index last October. Barclays will add Nigerian debt to its index from March 2013.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit. ($1 = 157.15 naira)
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
 
														“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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