September 24, 2021/CardinalStone Research Event Nigeria successfully accessed the international capital market on Tuesday, issuing $4.0 billion in Eurobonds. The issuance was spread across three tenors, $1.25 billion on the 7-year, $1.5 billion on the 12-year and $1.25 billion on the 30-year instrument, with respective yields at 6.125%, 7.7375% and […]

September 24, 2021/CSL Research A Vanguard report says the Nigerian National Petroleum Corporation (NNPC) has spent N175.32bn on petrol subsidy in July 2021, which will be deducted from its remittance to Federation Account Allocation Committee (FAAC) in September. The corporation also noted that a previous outstanding balance of N40bn will […]

September 23, 2021/Proshare by FBNQuest Research                                                                                                                                                                     The FGN’s domestic debt increased by 14% y/y to NGN17.63trn at end-June as the authorities rushed to finance their fast-growing deficit, mostly with the sale of bonds at the monthly auctions. In contrast, the stock of pro-notes declined from NGN940bn at end-March to […]