NEWS
DMO Raises N2.02trn As FGN Bond Yields Rise To 17.29 Per Cent
By Tony Obiechina, Abuja
Yields on Federal Government of Nigeria (FGN) bonds increased by as much as 50 basis points at the October 19, 2026, bond auction, as the Debt Management Office (DMO) allotted N1.
22trn to investors through the sale of three reopened debt instruments.The increase in yields on the longer-dated bonds came as the DMO accepted higher rates to raise funds, with the stop rate on the September 2036 bond climbing to 17.
29 per cent from 16.79 per cent at the September auction.The June 2038 bond also recorded an increase in its stop rate to 17.
19 per cent from 16.85 per cent, representing a rise of 34 basis points, while the February 2034 bond settled at 16.99 per cent.The N1.22tn market allotment represented an increase of approximately 63.5 per cent over the N748.64bn allotted at the September auction, reflecting the higher volume of funds raised through the primary market.
In addition to the market allotment, the DMO allocated another N800bn through non-competitive bids, split equally between the February 2034 and September 2036 bonds.
This brought total allotments at the October auction to N2.02trn, comprising N1.22tn allotted through competitive bidding and N800 billion through non-competitive allotments.
The auction results showed that the DMO reopened three existing bonds and offered a combined N1.75trn to investors. Total bids also stood at N1.75tn, although the agency allotted N1.22tn through the competitive market, rejecting approximately N523.58bn, or about 30 per cent of subscriptions.
The outcome translated into a bid-to-cover ratio of approximately 1.4 times, indicating that investors submitted bids equivalent to about 1.4 times the amount ultimately allotted through the market.
The increase in stop rates on the longer-dated securities highlights the pricing conditions under which the Federal Government is raising funds from the domestic debt market, with investors bidding at varying rates across the three instruments.
The February 2034 bond attracted bids worth N304.08bn against an offer of N500bn, representing a bid-to-offer ratio of 0.61 times.
The DMO allotted N92.14bn to the market through the instrument, equivalent to approximately 30 per cent of the bids received. Bid rates ranged from 16.00 per cent to 19.00 per cent, while the stop rate was fixed at 16.99 per cent.
The September 2036 bond attracted the largest volume of subscriptions among the three instruments, with investors submitting bids worth N925.35bn against an offer of N800bn.
This represented a bid-to-offer ratio of approximately 1.16 times. The DMO allotted N781.31bn through the market, equivalent to about 84 per cent of the bids received.
The stop rate on the bond rose to 17.29 per cent from 16.79 per cent at the previous auction, making it the instrument with the highest reported stop rate among the three securities offered.
For the June 2038 bond, investors submitted bids totalling N518.32bn against an offer of N450bn, resulting in a bid-to-offer ratio of approximately 1.15 times.
The DMO allotted N350.72bn through the market at a stop rate of 17.19 per cent, compared with 16.85 per cent in September.
The results showed that the DMO allotted less than the amounts offered for the February 2034 and June 2038 bonds, while the September 2036 instrument accounted for the largest share of the competitive market allotment.
Health
Anxiety Grips FCT Residents As FG Confirms Ebola Disease Case
By Laide Akinboade, Abuja
The Federal Government (FG), on yesterday confirmed one case of Ebola disease in the Federal Capital Territory (FCT), following laboratory confirmation.
Minister of Health and Social Welfare, Prof.
Muhammad Ali Pate, stated this while briefing journalists in Abuja.He said the patient, a woman, who was from Uganda, was admitted in Abuja and the diagnosis has been confirmed.
The statement reads, “The patient, a woman who recently arrived in Nigeria on an international flight from Uganda, was admitted to a private hospital in the FCT, where she received care for several days before the diagnosis was confirmed.
She is currently in isolation and receiving medical care.“The Federal Minister of Health and Social Welfare and NCDC are working closely with the FCT Health Services Secretariat and other relevant authorities to contain the infection and prevent further spread..
“Contact tracing has commenced with 44 close contacts identified presently, with public health teams identifying and monitoring people who may have been exposed, including healthcare workers, patients, caregivers and travel contacts. Surveillance has been intensified, and the hospital is receiving immediate support to strengthen infection prevention and control measures.
“The FG calls on all public and private healthcare facilities nationwide to be on high alert. Healthcare workers must maintain a high index of suspicion, promptly identify and isolate suspected cases, observe strict infection prevention and control measures, and immediately report suspected cases to public health authorities.
“What Nigerians Should Know and Do
Ebola spreads through direct contact with the blood or body fluids of someone who is sick with the disease or has died from it, or through contact with contaminated materials. A person with Ebola cannot spread the disease before symptoms begin”.
The Federal Government therefore advised residents to remain calm but vigilant.
“Remain calm but vigilant. There is no need for panic. Practise regular hand hygiene and avoid contact with the body fluids of anyone suspected to have Ebola.
Watch for symptoms, including fever, severe weakness, headache, vomiting and diarrhoea, particularly following possible exposure.
“Report any possible exposure immediately, even if you feel well. If you develop symptoms, avoid close contact with others and call public health authorities for guidance before visiting a healthcare facility.
” Cooperate with public health teams. Anyone contacted during contact tracing, including relevant airline passengers, should provide the necessary information and follow public health advice.
“Avoid rumours and stigma. Share only verified information from official health authorities” .
The Minister recalled, “Our Assurance to Nigerians. Nigeria successfully contained Ebola in 2014, and we have the experience and public health systems to respond to this case. However, containing Ebola requires everyone to play their part.
“The Federal Government, FCT authorities and other partners are working together to protect healthcare workers, patients and the wider public. Investigations are ongoing, and we will continue to provide accurate and timely information.
” We urge Nigerians to remain calm, stay vigilant and cooperate with public health authorities. Early detection, prompt reporting and everyone’s cooperation are critical to preventing further spread.
“The Government of Nigeria through the Presidential Taskforce on EVD and NCDC will continue to provide updates.
NCDC free call centre is available 24 hours a day, seven days a week. For information or to report a suspected case, please call NCDC toll-free number 6232″.
NEWS
Again, Tinubu Rules Out Return to Petrol Subsidy Regime
By Tambaya Julius, Abuja
President Bola Ahmed Tinubu has ruled out a return to petrol subsidy, insisting that his administration will not reverse the economic reforms introduced since he assumed office in May 2023.
The President made this known while addressing members of the City Boy Movement at a special engagement tagged “An Evening with the Original City Boy” at the State House, Abuja.
Tinubu defended his administration’s economic policies, saying the decision to remove petrol subsidy on his first day in office was necessary to address longstanding economic challenges and put the country on a path to sustainable growth.
He dismissed calls by some political opponents to restore the subsidy regime, insisting that Nigeria could not afford to return to the old system.
“I removed the fuel subsidy on my first day in office. Nigeria will not go back to that era. I hear my political opponents promising a return to the subsidy regime, but Nigeria must win this election before any candidate does,” he said.
The President recalled the economic difficulties inherited by his administration, including excessive currency printing, fiscal pressures and structural weaknesses, which he said required urgent action.
He explained that his government had introduced reforms in taxation, monetary management and other critical sectors to address the challenges and reposition the economy.
“Currency was being printed as if there was no tomorrow. That was a challenge, but rather than looking back, we took steps to address it and rebuild our tax system,” Tinubu said.
He expressed satisfaction with the support he had received from young Nigerians, noting that their continued engagement with his administration had challenged predictions that they would reject the difficult economic policies.
According to him, the enthusiasm shown by members of the City Boy Movement strengthened his belief that the sacrifices associated with the reforms would help build a stronger and more prosperous Nigeria.
“I did not see a crowd. I saw Nigeria,” the President declared, saying the gathering reminded him of why he sought the presidency and his commitment to national development.
Tinubu also commended the movement for building grassroots structures across states, local government areas and wards. He described its membership database, communication platforms and community engagement initiatives as examples of organised youth participation in national affairs.
He acknowledged the contributions of youth support groups operating across Nigeria and in the diaspora, including those in London, Houston and Toronto, noting that their different platforms were united by a common desire for a better country.
The President also recognised the efforts of the All Progressives Congress (APC) National Youth Leader, Dayo Israel, and other youth leaders, assuring them that their contributions would not be overlooked in the administration and its forthcoming electioneering activities.
Highlighting youth-focused programmes introduced by his administration, Tinubu said the Nigerian Education Loan Fund (NELFUND) had supported more than one million students.
He explained that the initiative was designed to ensure that financial difficulties did not prevent young Nigerians from pursuing higher education.
The President also cited the Nigerian Consumer Credit Corporation (CREDICORP), which provides access to credit for workers seeking essential assets such as laptops, vehicles, motorcycles and solar energy systems.
He further highlighted the Three Million Technical Talent (3MTT) programme, saying it was designed to equip young Nigerians with digital skills and prepare them for opportunities in the global technology industry.
Tinubu reiterated his commitment to appointing more qualified young Nigerians to positions of responsibility, arguing that those who would inherit the consequences of present-day decisions deserved a role in shaping the country’s future.
In a personal message to his son and patron of the City Boy Movement, Seyi Tinubu, the President urged him to do more in public service and youth engagement while setting an example of responsible leadership.
“My son, Seyi, you have only started. Do more. Go further. Serve harder. Set an example that your own children, my grandchildren, will be proud to follow.
Nigerians are watching, and they should know that serving your country is the highest honour,” he said.
Tinubu urged members of the movement to intensify grassroots mobilisation, encourage eligible Nigerians to obtain their Permanent Voter Cards (PVCs) and explain the administration’s policies, achievements and development priorities to voters.
He expressed confidence in the movement’s organisational strength, saying the commitment demonstrated by its members had given him reassurance ahead of the election.
The President, however, reminded the youths that their political participation should go beyond supporting an individual candidate, stressing that the outcome of the democratic process would have lasting consequences for their own future.
“My presence here tonight, your reaction and what I have seen have given me all the answers I needed and the confidence required for the coming election. I believe you will deliver that mandate,” he said.
“You are not campaigning for me. You are campaigning for your own future, and that future is renewed hope,” Tinubu added.
He reaffirmed his determination to sustain the administration’s economic reform agenda, insisting that the government would not reverse the policy decisions already taken.
NEWS
Former Delta Governor Uduaghan Dies at 70
From Francis Sadhere, Delta
Former Governor of Delta State, Dr. Emmanuel Eweta Uduaghan, has died.
Uduaghan, who governed the state from 2007 to 2015, reportedly passed away in the morning of Monday, October 19, 2026.
His death was announced in a statement signed by Toju Anire Uduaghan on behalf of the family, which described his passing as a devastating loss to the family, Delta State and Nigeria.
The family said the former governor was a beloved father, brother, uncle and patriarch whose life and service touched many people across the state and the country.
“His passing has left us devastated. Words can hardly express the depth of our sorrow at the loss of a man who meant so much to our family and whose life and service touched countless others across Delta State and Nigeria,” the statement said.
Uduaghan held several key positions in the Delta State Government before becoming governor. He served as Commissioner for Health from 1999 to 2003 and Secretary to the State Government from 2003 to 2007.
He subsequently emerged as governor in 2007 and remained in office until 2015, during which the family said he demonstrated commitment to the human and infrastructural development of the state.
The family described his death as a profound loss, noting that he was a source of strength, a father figure and a respected elder whose memories and legacy would remain cherished.
“We are grateful to Almighty God for his life, his service, and the legacy he leaves behind,” the statement added.
The family prayed for the repose of his soul and divine comfort for relatives, friends, associates, former colleagues and others mourning his death.
“Your memory will forever remain in our hearts, and your legacy will endure in the lives of those you touched,” the family said in its farewell message.
Uduaghan’s death marks the loss of a former leader who occupied prominent positions in Delta State’s political and administrative history.
The family concluded its announcement with a prayer for his peaceful repose, saying, “May your gentle soul rest in perfect peace. Amen.”
The statement was signed by Toju Anire Uduaghan on behalf of the family.


