In the news: DMO Raises N244bn via Bond
Nigeria may have to grapple with the payment of $11.62bn in foreign debt in the next 10 years, a projection of the Debt Management Office has shown.
The Nigerian National Petroleum Corporation has said the demand for the nation’s crude oil outstrips the current supply.
The Debt Management Office (DMO) raised N243.7 billion at a bond auction on Wednesday, almost double the amount it had initially sought, as local funds and foreign investors piled into longer-term debt to lock in higher returns.
The Nigerian equities market Wednesday recorded its first gain in the week following bargain hunting and appreciation posted by Dangote Cement Plc.
Nigerian National Petroleum Corporation, NNPC, plans to lift the force majeure on Nigeria’s Bonny Light crude next month.
The naira, yesterday, depreciated to N360 per dollar in the Nigerian Autonomous Foreign Exchange, NAFEX, just as the Central Bank of Nigeria, CBN plans to sell N130.4 billion treasury bills next month.
The House of Representatives has given the Central Bank of Nigeria (CBN) and the Office of the Auditor-General of the Federation (OAGF) six weeks to provide detailed reconciliation and audit reports of the amounts generated so far in the Treasury Single Account (TSA) of the Federal Government.
Coca-Cola Nigeria will invest $600 million by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks.
The board of directors have approved the terms of rights issue and will raise 131.65 billion naira by way of rights issue at N42.5 per share by issuing 5 new shares for every 9 shares held by investors.
Nigeria Plans to Sell $5.5 Billion of Eurobonds by Year-End: Nigeria plans to sell as much as $5.5 billion of Eurobonds in the next three months to fund capital projects and replace local-currency debt, according to the Debt Management Office.