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DMO to Redeem N198bn

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By Chioma Isaac with agency reports

As the year 2017 gradually winds down, the Debt Management Office, DMO has said that it will repay the N198.03 billion Nigerian Treasury Bills fully at maturity this month.

According to details provided by the DMO in a statement, N131.415 billion and N66.617 billion of NTBs will mature on Dec. 14 and Dec. 21 respectively.

“Before now, the practice was to rollover NTBs at maturity. It will be recalled that the Federal Government had announced plans to refinance some maturing domestic debt with external borrowing,’’ DMO said.

The statement further explained that the refinancing plan strategy was part of government’s overall debt management strategy of reducing Debt Service Costs.

“Other objectives of this strategy are to free up space in the domestic market for other borrowers and achieve a sustainable debt portfolio mix of 60 per cent domestic and 40 per cent external”, it added.

In addition, the redemption over time will help reduce the refinancing risk associated with short-term borrowings through NTBs with tenors of 91, 182 and 365 days.

As at Sept. 30, NTBs accounted for 30.23 per cent of the FGN’s domestic debt of N12.5 trillion compared to the DMO’s target of a maximum of 25 per cent.

The DMO further stated that the NTBs would be redeemed primarily using proceeds of the USD500 million, raised through a Eurobond Issuance by Nigeria in November 2017.

“Nigeria had issued a dual-tranche 3 billion dollars Eurobond in November 2017 out of which 2.5 billion dollars is to part-finance the deficit in 2017 Appropriation Act.

“The balance of 500 million dollars is for the refinancing of domestic debt.’’

By redeeming the N198.032 billion NTBs, the Federal Government has been implementing its debt management strategy.

The DMO says it expects operators in the market to take advantage of this opportunity to develop other segments of the debt capital market such as corporate bonds.

It added that the strategy of enabling the private sector to access funds and at a lower cost, than was hitherto possible was consistent with the government’s policy of a private-sector led growth.

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Goodluck Jonathan’s Family Celebrates Son’s Graduation in UK

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Former President Goodluck Ebele Jonathan and former First Lady Patience Ibifaka Jonathan recently celebrated a significant family milestone as they attended the graduation ceremony of their son, Ariara Goodluck Jonathan, at Manchester Metropolitan University in the United Kingdom.

The proud parents joined family members and well-wishers to witness Ariara receive his degree, marking the successful completion of his academic programme. The occasion was filled with joy as the Jonathan family commemorated the achievement, highlighting the importance they place on education and personal development.

The graduation ceremony attracted warm congratulatory messages from friends, associates, and admirers, who wished the graduate continued success in his future endeavours.

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2027 BENUE GUBER: MORE TROUBLE FOR GOV ALIA

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The Following names joined the political family of Sen. Dr. George Akume today after leaving the sinking Alia ship .

Under the leadership of Barr. Emmanuel Jime .

The are ;
Chief Nelson Alapa
Douglas pepe SAN senatorial Aspirant zone A,
Engr Peter Ashiekaa
QS Clement Beetseh
Former commissioners
Joy Luga
Ann itodo
Barr martins Shaagee
Miss Dorcas
Prof Usar Joseh
Prof Cephas Tushima
Chief Patrick Idoko
Hon Patience Akor
Hon Fred Idoko
Hon Lawrence Ekpo Onoja Jnr
Hon Andrew Abah
Hon Agbo Innocent Ikwumonu
Hon Simon Omachoko
Hon David Egboja
Dr John Garba
Among together,

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ENGR. BELLO BABAYO BELLO FELICITATES VICE PRESIDENT KASHIM SHETTIMA ON RENOMINATION

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Engr. Bello Babayo Bello, FNSE, Executive Director (Networks) of the Niger Delta Power Holding Company (NDPHC), has extended his heartfelt congratulations to Vice President Senator Kashim Shettima, GCON, on his renomination as the Vice Presidential candidate for the 2027 general elections, alongside President Bola Ahmed Tinubu, GCFR.

In his message, Engr. Bello described the renomination as a beautiful affirmation of the Vice President’s enduring commitment to Nigeria’s unity, stability, and prosperity. He noted that Senator Shettima, himself a former Senator of the Federal Republic, has consistently embodied resilience, foresight, and a deep sense of responsibility, qualities that continue to inspire confidence across the nation.

“This renomination is a shining testament to your unwavering dedication to the Nigerian people,” Engr. Bello stated. “It reflects the trust of the party and the citizens in your ability to guide our country toward greater progress, peace, and prosperity. Your leadership has been a beacon of hope, and this endorsement is richly deserved.”

Engr. Bello further emphasized that Senator Shettima’s political journey has been marked by courage and service. From his tenure as Governor of Borno State to his current role as Vice President, he has consistently championed initiatives that address national challenges, foster economic growth, and promote inclusive development.

As a leader in the power sector, Engr. Bello highlighted the importance of visionary leadership in driving infrastructure and energy reforms. He expressed confidence that Senator Shettima’s continued role in government will further strengthen Nigeria’s capacity to deliver reliable power, expand opportunities, and improve the quality of life for millions of citizens.

He prayed that Almighty Allah grants the Vice President wisdom, strength, and good health to continue serving the nation with distinction. “May Allah bless your efforts, guide your decisions, and grant you success as you carry forward the responsibility of leadership,” he added.

The message concluded with a reaffirmation of goodwill and support: “Congratulations once again, Your Excellency. We look forward to your continued contributions to the peace, progress, and prosperity of Nigeria.”

Signed:Engr. Bello Babayo Bello, FNSEExecutive Director (Networks)Niger Delta Power Holding Company (NDPHC)

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