DMO: Foreign debt payment to gulp $11.62bn in 10 years

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.

Nigeria’s crude oil over-subscribed, says NNPC

The Nigerian National Petroleum Corporation has said the demand for the nation’s crude oil outstrips the current supply.

This Day

DMO Raises N244bn via Bond, almost Double Amount on Offer

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.

Nigerian Equities Market Rebounds, Index Rises 0.44%

The Nigerian equities market Wednesday recorded its first gain in the week following bargain hunting and appreciation posted by Dangote Cement Plc.

Guardian

NNPC to lift force majeure on Bonny Light in October

Nigerian National Petroleum Corporation, NNPC, plans to lift the force majeure on Nigeria’s Bonny Light crude next month.

Naira depreciates to 360/$ in NAFEX as CBN plans to sell N130.4b T-bills

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 Nation

Reps give CBN, Auditor-General six weeks to provide TSA’s report

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 okays $600m for expansion

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.

Reuters

Lafarge Africa lays out terms of proposed rights issue

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.

Bloomberg

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.