Nation

DMO Lists N250bn Sovereign Sukuk On NSE, FMDQ

Published

4 years ago

July 6, 2022

The Debt Management Office (DMO) has listed N250billion Sovereign Sukuk on the Nigerian Exchange (NSE) Limited and the FMDQ Securities Exchange.
The N250billion Sovereign Sukuk was issued in December, 2021.
Proceeds from the Sovereign Sukuk, which was heavily oversubscribed, were meant for execution of infrastructural projects across the country.
According to the DMO, the listing is done to maximise market liquidity for investors in the Sovereign Sukuk.
“To maximise market liquidity for investors in the Sovereign Sukuk, the DMO is listing the N250billion Sovereign Sukuk, which was issued in December, 2021, on the NSE and the FMDQ Securities Exchange.
“The N250billion Sovereign Sukuk is the fourth one issued by the DMO and had a massive oversubscription of N865billion at time of issuance.
“This made it the highest subscription level recorded since the first Sukuk issuance in September, 2017.
“It is also a representation of investors’ growing confidence in the benefits of Sukuk to the development of the Nigerian economy,” the DMO said.
It said that proceeds of the Sovereign Sukuk since its inception have been deployed towards the construction and rehabilitation of road networks across the six geopolitical zones.
It added that the impact of such projects have been evident.
“Currently, proceeds from the N250billion Sovereign Sukuk are being utilised across 77 key economic road projects in the country.
“The projects include the completion of roads B6, B12 and Circle road, Abuja; Abuja-Lokoja road (Koton Karfe-Lokoja); and rehabilitation of Yola-Hong-Mubi road in Adamawa State.
“Others are dualisation of Kano-Katsina road; dualisation of Sapele-Ewu road; rehabilitation Of Old Enugu–Onitsha road; dualisation of Ibadan-Ife-Ilesah road; dualisation Of Akure–Ado Ekiti road, among others,” it said.

Nation

Firefighters battle New Year Day inferno in Abuja, several states

Published

3 days ago

January 2, 2026

The Tide

Federal Fire Service FFS entered the New Year on full operational alert, tackling multiple fire outbreaks across the country from midnight into the early hours of January 1, 2026, in what officials described as one of the busiest festive-season deployments in recent years.

The intensified nationwide response followed a December 2025 directive issued by the Controller General of the Federal Fire Service, Olumode Samuel Adeyemi, who had ordered that no firefighter should proceed on leave throughout the holidays.

According to a statement by the National Public Relations Officer and Head of Corporate Services of the FFS, DCF Paul Abraham, the no-leave policy proved critical as the Service moved swiftly to contain fires in several states.

The Federal Capital Territory FCT recorded its first fire incident of the year barely twenty-three minutes after midnight when flames erupted at Cake Hot Restaurant located within River Plate Park, Wuse, Abuja.

Abraham said fire crews from the Federal Fire Service and the FCT Fire Service arrived promptly and were able to stop the blaze before it could spread through the popular recreational centre.

While a section of the garden area was destroyed, no lives were lost and no injuries were recorded.

Officials said property worth an estimated ?1.5 billion was saved, although losses were placed at about ?500 million.

“Preliminary findings suggested that the fire was triggered by objects thrown during New Year celebrations, reinforcing long-standing warnings over the dangers posed by fireworks during the harmattan season”, the Service said.

The Controller General had repeatedly urged Nigerians to avoid fireworks, candles and open flames indoors, warning that the dry winds characteristic of the season allow fires to spread rapidly.

He also warned the public about electrical faults and power surges and advised that electrical appliances be switched off and unplugged when not in use or when occupants leave their homes, stressing that overloading sockets and extension boxes remains a significant cause of domestic fires.

Nation

Enugu North LG chairman presents ?10.8bn 2026 Budget, prioritises roads …Security, Healthcare, Human Capital Development

Published

3 days ago

January 2, 2026

The Tide

Chairman of Enugu North Local Government Area in Enugu State, Dr. Ibenaku Harford Onoh, has presented a Ten Billion Eight Hundred Million Naira (?10.8bn) 2026 budget to the legislative council of the local government.

The budget, tagged “Budget of Continued Growth and Consolidation,” was presented on Wednesday during a plenary session attended by councillors, department heads, and other stakeholders.

Dr. Onoh explained that the 2026 budget is designed to consolidate achievements recorded in 2025 while scaling up development across the council’s 13 wards. Priority areas include road infrastructure, grassroots security, healthcare delivery, youth empowerment, and digital governance.

He also reviewed the 2025 budget performance, highlighting significant revenue growth and successful completion of key projects. Notably, the council’s internally generated revenue more than doubled, attributed to the introduction of digital revenue collection platforms and other innovative measures.

Among the 2025 achievements, Dr. Onoh mentioned the reconstruction of major roads at European Quarters, Hilltop, Coal Camp, and Ukwa Street, Ihewuishi, as well as the upgrade of the local security architecture through the reorganisation of the neighbourhood watch into “The City Watch.”

On the 2026 budget, the chairman stated that projected revenue would come from statutory allocations, VAT, internally generated revenue, and counterpart funding through public-private partnerships.

He noted that capital expenditure would take the larger share of the budget, with over half allocated to the economic sector. Planned projects include:

Completion of transport terminals at Aria Market

Construction and reconstruction of urban roads

Establishment of two sports centres

Healthcare interventions

Youth skills development programmes.

Dr. Onoh emphasised that the projects, policies, and programmes outlined in the budget are aimed at complementing the initiatives of Governor Peter Ndubisi Mbah, who is setting standards for local government councils to follow.

Responding, the Leader of the Legislative Council, Rt. Hon. Chizoba Nnamani, said the budget would be carefully scrutinised in the interest of residents before its passage.

Nation

Christians Convert To Islam or die As ISWAP burns down Christian village

Published

3 days ago

January 2, 2026

The Tide

Christians in Adamawa have been asked to Convert to Islam or die as commanded by the Islamic State of West Africa Province (ISWAP).

.The ISWAP forcedly burnt down Christian village in Adamawa Nigeria as reported on January 1, 2026.

The Islamic State of West Africa Province, ISWAP, has continued to wreak havoc on Christian communities in the Northeast, Nigeria.

This comes as ISWAP burned down a Christian village in Adamawa State.

A security expert, Brant Philip, disclosed this on Thursday in a viral video released by the terrorists.

“ISWAP released an image of one of the Christian villages in Adamawa State burning, alongside a statement saying that all Christians in Nigeria are legitimate targets, and they have an opportunity to “spare their blood” by converting to Islam or paying the jizyah tax to ISWAP,” Brant Philip wrote on X.

The move is perceived as retaliation for recent joint airstrikes by the Nigerian and United States military against a terrorist enclave in Sokoto, Nigeria.

Recall that five days ago, United States President Donald Trump announced that the US military launched airstrikes against terrorists in Sokoto State.