Landmark Dollar Bond Secures $900M for Nigeria’s Infrastructure and Economic Growth.√√√Newzspy.

Nigeria has successfully launched its first domestic dollar-denominated bond, raising an impressive sum exceeding $900 million. This historic financial move marks a significant turning point in the country’s approach to economic development, signaling a shift towards greater resilience and sustained long-term growth.

The bond, spearheaded by the Africa Finance Corporation (@africa_finance), received overwhelming interest from both local and international investors. This high level of engagement underscores global confidence in the administration of President Bola Ahmed Tinubu and his administration’s economic policies, which aim to rejuvenate the nation’s financial standing while accelerating development.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, praised the successful bond issuance. As Chair of the African Caucus, he noted that this initiative goes beyond bolstering Nigeria’s economic position, setting a benchmark for other African countries seeking to expand their financial footprints. “I am particularly pleased that as Chair of the African Caucus, we have launched an initiative that not only strengthens Nigeria’s economic resilience but also expands the horizon for capital markets of African economies,” said Mr. Edun in a statement.

A Landmark Achievement for Nigeria

This dollar-denominated bond issuance is a remarkable achievement for Nigeria, positioning the country as a financial leader in Africa. It not only deepens Nigeria’s access to international capital markets but also highlights the vast potential that African economies offer to the world. The interest from investors reflects increasing confidence in Africa’s emerging markets, with Nigeria leading the charge in financial innovation.

The bond’s success also comes at a crucial time, as the country seeks to diversify its economy and reduce dependence on oil revenues. The funds raised through this initiative will be allocated to critical infrastructure projects and essential development programs across key sectors of the Nigerian economy. These sectors include transportation, energy, agriculture, and digital technology, all of which are critical for ensuring sustainable economic growth and improving the livelihoods of millions of Nigerians.

A Beacon for African Economies

This monumental bond issuance sets a new precedent for other African nations, showcasing the untapped potential of Africa’s financial markets. Nigeria’s success demonstrates that African economies, when properly managed and strategically aligned with global financial standards, can attract substantial foreign and local investment.

Many economists and financial analysts have lauded this bond as a step in the right direction for Nigeria, as it highlights the country’s commitment to deepening its financial markets and providing opportunities for investors. Additionally, this development may prompt other African countries to explore similar strategies for raising capital, which could further integrate Africa into the global financial ecosystem.

Driving National and Regional Growth

In addition to strengthening Nigeria’s national economy, the success of this bond issuance is likely to have far-reaching effects across the region. As a trailblazer in financial innovation, Nigeria is expected to continue driving regional growth through strategic economic measures. By investing in critical infrastructure and development programs, the country aims to stimulate job creation, enhance industrial productivity, and improve the overall economic outlook for its citizens.

As Africa’s largest economy, Nigeria’s ability to raise such significant capital domestically sends a powerful message to the international community about the maturity and potential of African financial markets. This bold move underscores the country’s determination to build a robust and diversified economy, capable of withstanding global economic shocks while maintaining strong growth trajectories.

In the months ahead, stakeholders will be keenly observing how the raised funds are deployed and the subsequent impact on Nigeria’s infrastructure, business environment, and overall economic health. Investors, both foreign and domestic, are expected to keep a close watch on the opportunities presented by this new chapter in Nigeria’s financial journey, which could serve as a catalyst for further financial innovation across the continent.

This milestone not only reflects Nigeria’s growing financial sophistication but also affirms Africa’s potential as a key player in the global economy.

Credit X Federal Ministry of Finance; Newzspy; 

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Chief Ajuri Ngelale Takes Indefinite Leave to Address Urgent Family Medical Matters.√√√Newzspy.

In an unexpected announcement on Friday, Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, has informed the Chief of Staff and the public that he will be proceeding on an indefinite leave of absence to address critical medical issues affecting his immediate family. The prominent government official, who also serves as the Official Spokesperson of the President, Special Presidential Envoy on Climate Action, and Chairman of the Presidential Steering Committee on Project Evergreen, shared the news after what he described as “agonizing deliberations” with his family.

The decision comes at a time when Chief Ngelale’s duties are pivotal to the administration’s communication and strategic initiatives. His responsibilities include not only managing the media relations of the Presidency but also overseeing Nigeria’s commitments to climate action on the international stage and leading the strategic direction of Project Evergreen—a key initiative of the government.

“A Tough, But Necessary Decision”

According to Chief Ngelale, the choice to take this indefinite leave was not made lightly. After days of consultation with his family, it became clear that his attention is urgently needed at home, as a worsening medical situation continues to affect his immediate, nuclear family.

In his statement, he acknowledged the weight of his responsibilities in the government but stressed that family must come first in moments of crisis. “While I fully appreciate that the ship of state waits for no man, this agonizing decision — entailing a pause of my functions as the Special Adviser to the President on Media & Publicity, Special Presidential Envoy on Climate Action, and Chairman, Presidential Steering Committee on Project Evergreen — was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home,” he stated.

Chief Ngelale expressed his deep commitment to his roles in public service and voiced his intention to return to full-time national service when circumstances allow. He noted that his leave is indefinite, allowing him the necessary time to focus on his family’s well-being.

Impact on National Duties

Chief Ngelale’s decision to take a leave of absence could potentially create temporary gaps in the critical areas of media relations and international climate diplomacy, where he has been playing a central role. His position as the Official Spokesperson to the President has made him the face of government communication, while his role as Special Envoy on Climate Action has seen him represent Nigeria on global environmental platforms.

Project Evergreen, a strategic national initiative aimed at sustainability and innovation, may also feel the impact of his temporary departure. However, the administration is expected to announce interim measures to ensure continuity in these roles.

A Call for Privacy

In his heartfelt statement, Chief Ngelale also made a respectful appeal for privacy for his family during this difficult time. “I respectfully ask for some privacy for my family and I during this time,” he said, urging the public to understand the sensitivity of the situation.

As one of the most visible faces of the current administration, his absence will undoubtedly be felt, but the gravity of his personal circumstances underscores the necessity of this leave.

Looking Ahead

Despite the urgency of his departure, Chief Ngelale remains optimistic about the future, expressing hope that he will return to his duties once his family’s health crisis is resolved. “I look forward to returning to full-time national service when time, healing, and fate permit,” he said, signaling his unwavering dedication to public service.

The government and the public alike will be closely monitoring this development, offering thoughts and prayers for his family’s recovery while awaiting further updates.

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NIMC DG Highlights the Crucial Role of Birth Registration in Nigeria’s Digital Identity Development.√√√Newzspy.

The Director-General and CEO of the National Identity Management Commission (NIMC), Engr. Abisoye Coker-Odusote, has emphasized the critical importance of birth registration and the National Identification Number (NIN) in driving Nigeria’s socio-economic development. She made this statement during the launch of the Renewed Hope Initiative, a project aimed at accelerating birth registration across the nation.

Engr. Coker-Odusote underscored the significance of the strong partnership between the NIMC and the National Population Commission (NPC), noting that their collaborative efforts are pivotal to realizing President Bola Ahmed Tinubu’s Renewed Hope agenda. This agenda prioritizes the strengthening of digital identity and birth registration systems as a foundation for the country’s development.

In her address, Engr. Coker-Odusote praised the NPC for its strides in modernizing and digitalizing birth registration processes in Nigeria. She pledged that the NIMC would remain a committed partner in this initiative, which she described as essential for the country’s social and educational re-engineering.

“Birth registration is not only important for the individual; it is also crucial for the development of the nation,” Engr. Coker-Odusote stated. She further elaborated that the integration of digital birth registration and NIN is a key strategy to enhance access to essential government services, including education, healthcare, and other social benefits. This initiative, she pointed out, is not just a service to individual citizens, but a critical component of Nigeria’s broader developmental objectives.

The NIMC DG emphasized that birth registration is a fundamental right that should be accessible to all Nigerians, regardless of their location or socio-economic status. She called on civil society, international partners, and all stakeholders to join hands in making universal birth registration a reality in Nigeria. According to her, the NIMC is committed to ensuring that NIN registration is seamless and accessible, particularly for children under the age of 16.

Engr. Coker-Odusote also took the opportunity to express her gratitude to the First Lady, Senator Oluremi Tinubu, for her unwavering support of the NIN and birth registration initiatives. She credited the success of these programs to the First Lady’s dedication and advocacy, which have been instrumental in advancing these critical national projects.

The Renewed Hope Initiative is a testament to the government’s commitment to creating a robust and inclusive digital identity framework that will support Nigeria’s growth and development. Through the continued collaboration between NIMC, NPC, and other stakeholders, the initiative aims to ensure that every Nigerian child is registered at birth and issued a NIN, thereby laying the groundwork for a more secure and prosperous future.

Credit:X/NIMC, NEWZSPY

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