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Finance

Anambra Tops List of Nigeria’s Most Affordable States in September 2025

  • dollaers
  • October 16, 2025
  • Finance
  • 0 comments

In September 2025, Anambra State displaced Zamfara to become the most affordable state in Nigeria, recording a headline inflation rate of 9.3%, according to data compiled by Nairametrics. This figure marked a sharp decline from 14.2% in August 2025.

A breakdown of the top 10 most affordable states reveals persistent contrasts across the country:

Rank State Inflation Rate Notes
1 Anambra 9.3% Falls in food and non-food costs contributed to improved affordability
2 Niger ~11.8% Strong performance on core inflation
3 Bauchi ~12.4% One of few northern states in top tier
4 Enugu ~12.4% Slower non-food inflation aided moderation
5 Sokoto ~14.0% Slight dip in food inflation helped
6 Bayelsa ~14.8% Buffer from fuel subsidy support
7 Ebonyi ~14.8% Infrastructure improvements eased costs
8 Imo ~15.8% Slight moderation in housing component
9 Akwa Ibom ~16.3% Energy and transport pressures keep it higher
10 Jigawa ~16.3% Tight agricultural markets weigh

The ranking is based on year-on-year changes in prices of essential goods and services — states with lower inflation are generally easier to live in from a cost-of-living perspective.

What’s Driving the Shift?

  • Digital payments in Anambra’s markets, especially Onitsha Main Market, have cut transaction costs for non-food items.

  • The state also invested in boreholes in rural LGAs, helping reduce household water expenses.

  • In contrast, states with higher inflation are still grappling with elevated energy, transport, and food costs.

Context & National Picture

National headline inflation eased to 18.02% in September 2025, continuing a downward trend that began in early 2025. While many states are seeing relief, others remain under pressure from structural cost factors.

During the December 2024 holiday season, Lagos alone generated an estimated US$71.6 million in tourism revenue — with hotels contributing roughly $44 million and short-term rentals adding about $13 million.

At the national level, over 1.2 million international arrivals and 3 million domestic trips were recorded in 2023, up 20% from prior years. The tourism sector contributed 3.65% of GDP and supported 1.9 million jobs.

Lagos State officials say they will continue using the Lagos State Tourism Master Plan (2020–2040) as a roadmap for growth, with the aim of boosting total tourism earnings to $5.1 billion by 2040.

Lagos Records Rise in International Tourists as State Pushes for $5.1 Billion Tourism Goal by 2040

  • dollaers
  • October 15, 2025
  • Finance
  • 0 comments

The Lagos State Government has announced a steady increase in international tourist arrivals, recording 18,273 visitors in 2024, compared to 16,798 in 2023 and 14,357 in 2022.

The figures were disclosed during a Public Policy Engagement Session held in Ikeja and organized by the Policy Analysis, Monitoring and Evaluation Department under the Cabinet Office. The session brought together key ministries, departments, and agencies in the entertainment and tourism sectors to assess the state’s progress toward achieving its tourism development targets.

Lagos Aims for $5.1 Billion in Tourism Revenue by 2040

The Lagos State Government reiterated its long-term goal of increasing tourism receipts to $5.1 billion by 2040, as contained in the Lagos State Tourism Master Plan (2020–2040).

The Secretary to the State Government (SSG), Bimbola Salu-Hundeyin, represented by Kehinde Gbajumo, the Permanent Secretary in the Cabinet Office, explained that the engagement was aimed at reviewing progress in the implementation of the state’s entertainment and tourism policies.

She said Lagos continues to focus on positioning itself as West Africa’s premier tourism and entertainment destination, leveraging the state’s creative industries, cultural heritage, and hospitality sector to attract more visitors each year.

Growth Linked to Strategic Policy and Destination Marketing

According to Oladele Oyatope, Head of the Policy Analysis, Monitoring and Evaluation Department, discussions at the session centered on the fifth pillar of the T.H.E.M.E.S Plus Agenda, which emphasizes entertainment and tourism.

Oyatope noted that the Lagos State Tourism Master Plan and Policy Document remain critical tools for assessing performance in the sector. These frameworks set measurable goals for visitor numbers, revenue growth, and overall impact on the state economy.

He added that Lagos must intensify branding, advocacy, and destination marketing to boost international awareness and strengthen its tourism identity on the global stage.

“Our department’s role is to collect and analyse data across all tourism and creative sectors to evaluate how government initiatives are performing,” he said. “This helps ensure that policies are driving real impact, from cultural promotion to creative industry development.”

Economic Impact of Tourism in Lagos

The state’s rising tourist figures reflect the broader momentum within Nigeria’s tourism sector. According to the Lagos State Detty December 2024/2025 Report, the December 2024 festive period alone generated an estimated $71.6 million in tourism-related revenue.

Of this, hotels contributed about $44 million, while short-let apartments generated around $13 million. The report attributed the spending boom to the surge in visitors attending year-end cultural and entertainment events across the city.

Nigeria’s Wider Tourism Landscape

At the national level, Nigeria recorded over 1.2 million international visitors and three million domestic trips in 2023, a 20% increase from the previous year. The tourism sector contributed 3.65% (approximately $17.3 billion) to the nation’s GDP in 2022, supporting about 1.9 million jobs.

Experts credit the growth to improved domestic air travel, youth-driven tourism startups, and increasing digital engagement promoting local destinations.

As Lagos continues to drive its master plan, the government says it remains committed to turning the state into a vibrant, globally recognized tourism hub that combines entertainment, culture, and innovation to power sustainable economic growth.

EFCC Arraigns Lagos Businessman for Allegedly Stealing ₦215 Million Through Bank Server Breach

  • dollaers
  • October 15, 2025
  • Bank, Finance
  • 0 comments

The Economic and Financial Crimes Commission (EFCC) has arraigned Ugoh Christogonus Onyewuchi, a Lagos-based businessman, and his company, C-PAC Integrated Service Nigeria, for allegedly stealing over ₦215.8 million through an unauthorized breach of a commercial bank’s server.

The defendants appeared before Justice Olubunmi Abike-Fadipe of the Special Offences Court, Ikeja, Lagos, on Monday, October 13, 2025, following their arraignment by the Lagos Zonal Directorate 1 of the EFCC on a two-count charge bordering on stealing and retention of proceeds of criminal conduct.

Details of the Allegation

According to the EFCC, Onyewuchi allegedly retained control of ₦215,800,000, part of a larger ₦8.5 billion sum reportedly stolen from customer accounts domiciled in a commercial bank. The funds were allegedly diverted through unauthorized access to the bank’s computer systems and servers and subsequently transferred into the account of C-PAC Integrated Service Nigeria.

The Charges

Count One:

That you, Ugoh Christogonus Onyewuchi and C-PAC Integrated Service Nigeria, sometime in 2025 in Lagos, retained control of the sum of ₦215,800,000, which formed part of ₦8,568,090,500 stolen from accounts domiciled with a commercial bank through unauthorized access to its computers and servers, and paid into your account (No. 5080158271) with the account name C-PAC Integrated Service Nigeria.

Count Two:

That you, Ugoh Christogonus Onyewuchi and C-PAC Integrated Service Nigeria, sometime in 2025 in Lagos, dishonestly converted to your own use the sum of ₦215,800,000, which formed part of the same ₦8.5 billion stolen through unauthorized access to a bank’s computer systems and transferred into your company account.

Court Proceedings

Upon reading the charges, Onyewuchi pleaded not guilty.
The prosecution counsel, M.K. Bashir, requested that the court set a trial date and order the defendant’s remand in a correctional facility pending trial.

However, the defence counsel, G.D. Innocent, appealed to the court to allow his client to continue enjoying the bail earlier granted by Justice I.O. Idowu during the court’s vacation session.

After considering the submissions, Justice Abike-Fadipe upheld the defence’s request, ordering that the defendant remain in custody pending the perfection of his bail conditions.

The case was adjourned to December 17 and 18, 2025, for commencement of trial.

How Asset Management Is Becoming More Inclusive in Nigeria

  • dollaers
  • October 14, 2025
  • Finance
  • 0 comments

For years, asset management in Nigeria was viewed as an exclusive club — accessible mainly to institutions, high-net-worth individuals, and experienced investors. Ordinary citizens, young professionals, and small business owners were often left out, deterred by high entry barriers, limited options, and low awareness.

That reality is rapidly changing. Over the past decade — and especially in recent years — the asset management industry in Nigeria has been quietly transforming. What was once niche is now mainstream. More Nigerians are gaining access to structured investments, new products are being designed for inclusivity, and technology is connecting professional fund managers with everyday savers.

This shift is significant. By opening up managed investments to more people, Nigeria is nurturing a stronger savings culture, deepening its capital markets, and creating fresh pathways for wealth building. In an economy where inflation and currency fluctuations eat into income, inclusive asset management offers not just profit, but financial stability and long-term security.

A Growing Industry

Nigeria’s asset management sector has seen remarkable growth in both size and sophistication. According to the Securities and Exchange Commission (SEC), collective investment schemes surpassed ₦2 trillion in assets under management in 2024, driven by surging interest in mutual funds, money market funds, and similar vehicles. From fewer than 50 mutual funds a decade ago, Nigeria now boasts over 150 — many attracting retail investors seeking alternatives to traditional savings.

While the pension industry remains dominant, with over ₦18 trillion in assets, retail-focused fund managers are filling a vital role. More Nigerians now see pooled investment funds as a viable hedge against inflation, allowing them to benefit from professional management of government securities, corporate bonds, and equities.

Why More Nigerians Are Investing

Several factors are fueling this retail inclusion:

1. Product innovation.
Asset managers are introducing funds tailored to smaller savers — from low-entry money market funds to systematic investment plans and dollar-based products for diaspora Nigerians. Investors can now start with as little as ₦5,000, remain liquid, and gradually build wealth.

2. Digital access.
Technology has broken traditional barriers. Through mobile apps, digital KYC, and e-wallet integrations, investors can open accounts, monitor performance, and redeem investments instantly — all from their phones.

3. Better regulation.
The SEC’s updated framework for collective investment schemes requires transparent disclosures, risk classification, and independent custodianship — giving retail investors greater confidence and protection.

4. Shifting behavior.
With inflation nearing 23% and the naira under pressure, Nigerians increasingly realize that simple savings accounts cannot preserve value. Professionally managed funds offer diversification and inflation-adjusted returns.

The Expanding Role of Asset Managers

Modern asset managers are now educators and inclusion advocates. Their work goes beyond managing portfolios — they design accessible products, teach financial literacy, and bring investment opportunities closer to ordinary Nigerians.

FSDH Asset Management, for instance, blends institutional expertise with a strong retail focus. The firm’s educational initiatives — from webinars to advisory sessions — help demystify core investment concepts like compounding and diversification. By improving financial literacy, managers like FSDH are not just building customers but cultivating informed, long-term investors.

Collective Investment Schemes: The Equalizer

Collective investment schemes remain at the heart of this inclusivity wave. These pooled vehicles allow thousands of investors to share access to professionally managed, diversified portfolios at low cost.

From under ₦300 billion in 2013 to over ₦2 trillion in 2024, the sector’s growth illustrates its appeal as Nigeria’s fastest-growing retail investment channel. Investors gain diversification, expert oversight, and affordability — benefits once reserved for large institutions.

Remaining Challenges

Despite the progress, challenges persist. Financial literacy remains low, particularly outside urban centers. Many Nigerians still distrust investment products due to past sector scandals. Regulatory compliance — especially for onboarding and anti-money laundering — can also be costly for managers handling thousands of small accounts.

Closing these gaps will require stronger collaboration among regulators, fintech innovators, asset managers, and educators. National financial literacy campaigns, streamlined digital onboarding, and continued transparency will be key to sustaining growth.

Broader Economic Impact

Inclusive asset management benefits more than just investors. By mobilizing domestic savings, it provides stable funding for government projects, corporate financing, and long-term economic development.

Increased retail participation creates a foundation for a more resilient, savings-driven economy, helping Nigeria rely less on volatile foreign inflows. For households, it means new opportunities for wealth creation, intergenerational savings, and financial independence.

The Road Ahead

The future of Nigeria’s asset management industry is increasingly inclusive, digital, and innovative. Growth over the next five years will likely come from ESG-focused funds, Shariah-compliant products, and robo-advisory platforms that automate investing. Cross-border solutions will also attract diaspora Nigerians looking to invest back home.

Partnerships with pension funds and insurers could soon deliver integrated savings-and-investment products tailored to households.

Nigeria’s asset management landscape is clearly evolving — from exclusivity to accessibility. Firms like FSDH are at the forefront, proving that professional asset management can empower everyday Nigerians, deepen capital markets, and strengthen the national economy.

Ultimately, this transformation is not just financial — it’s social. By helping millions preserve and grow their wealth, the industry is building a stronger middle class and a more stable future for all. Asset management in Nigeria is no longer for the few — it’s becoming a tool for the many, shaping prosperity that will endure for generations.

Transcorp Power Leads Market Rally as NGX Market Cap Hits N93.7 Trillion

  • dollaers
  • October 14, 2025
  • Finance
  • 0 comments

The Nigerian stock market started the week on a strong footing, with the All-Share Index (ASI) rising by 729.2 points to close at 147,717.2 on Monday, October 13, 2025 — marking a 0.50% gain from Friday’s close of 146,988.1.

Investor sentiment remained upbeat, driven by strong performances from Transcorp Power, Stanbic IBTC, and other large-cap stocks.

Market activity surged as trading volume nearly doubled to 624 million shares, up from 385 million in the previous session, while market capitalization advanced by N500 billion to N93.7 trillion.

Top Gainers and Losers

Sovereign Insurance (SOVRENINS) and Regency Alliance Insurance (REGALINS) led the day’s gainers, rising 9.97% and 9.68% respectively.
Transcorp Power (TRANSPOWER) followed closely with an 8.92% jump to N342.00, reinforcing its dominance in the heavy-cap segment.
Other notable gainers included Conhall Plc (+7.14%) and HMCALL (+6.80%).

On the losing side, Tripple Gee (TRIPPLEG) and LivingTrust Mortgage Bank (LIVINGTRUST) fell 9.92% and 3.85% respectively.
NGXGROUP (-3.33%), CUTIX (-3.08%), and PRESTIGE (-2.96%) also recorded declines.

Market Summary

  • Current ASI: 147,717.2

  • Previous ASI: 146,988.1

  • Change: +0.50%

  • Year-to-Date: +43.52%

  • Volume Traded: 624 million shares

  • Market Cap: N93.7 trillion

Trading Activity

Conhall Plc (CONHALLPLC) led trading activity with 210.4 million shares, followed by Fidelity Bank (FIDELITYBK) with 47.4 million, and Chams (CHAMS) with 43.9 million.
Univinsure (UNIVINSURE) and Sovereign Insurance (SOVRENINS) completed the top five, trading 29.9 million and 23.2 million shares, respectively.

Trading Value Leaders

In terms of value, MTN Nigeria led with transactions worth N2.6 billion, followed by Zenith Bank (N1.4 billion) and GTCO (N1.03 billion).
Fidelity Bank (N951.8 million) and Conhall Plc (N909.6 million) rounded out the top five.

Performance of Key Stocks

Stocks Worth Over One Trillion Naira (SWOOTs) mostly traded positive:

  • Transcorp Power: +8.92%

  • Stanbic IBTC: +5.5%

  • Dangote Cement: +1.74%

  • Nigerian Breweries: +1.86%

  • Lafarge: -0.73%

Among the tier-one banks (FUGAZ), performance was mixed:

  • FBN Holdings: +1.61%

  • AccessCorp: +0.58%

  • UBA: Flat

  • GTCO: -1.05%

  • Zenith Bank: -0.73%

Market Outlook

With the All-Share Index reclaiming and surpassing the 147,000 mark, analysts expect sustained bullish momentum in the short term. Continued strength in mid- and large-cap stocks could further drive the market toward new highs as investor confidence remains firm.

Nigerian Oil Steadies at $67 as U.S.-China Trade Tensions Ease

  • dollaers
  • October 13, 2025
  • Finance
  • 0 comments

Nigeria’s crude oil prices held firm at around $67 per barrel this week as renewed optimism swept through global energy markets following signs of a possible thaw in trade tensions between the United States and China.

After last week’s steep declines that dragged prices to their lowest levels since early May, Monday’s trading session saw a sharp rebound across major oil benchmarks. Nigeria’s Bonny Light maintained stability at $67, while Brent crude climbed to $63.76 and WTI gained about 2%, reaching $59.92.

Investor Sentiment Turns Positive

The recovery came after investors began pricing in hopes that Presidents Donald Trump and Xi Jinping might pursue diplomatic dialogue later this month. Trump’s comments on Truth Social—that the U.S. wants to “help China, not hurt it”—offered a glimmer of hope to markets shaken by recent tariff threats and trade restrictions.

However, mixed signals persist. Over the weekend, Trump warned of potential 100% tariffs on Chinese imports, prompting Beijing to threaten retaliation. Despite this, traders are betting on a more moderate outcome during the upcoming APEC summit in South Korea, where the two leaders are expected to meet.

Why Prices Fell Last Week

Last week’s downturn was largely triggered by China’s decision to expand export restrictions on rare earth minerals, a move viewed as retaliation against U.S. technology trade curbs. The standoff heightened global economic uncertainty, with investors fearing disruptions to industrial supply chains.

In response, Trump announced plans to tighten export controls on “critical software” by November 1, further rattling markets. The resulting sell-off pushed oil prices down more than 4% in a single day.

Now, as traders reassess the fundamentals, analysts say oil prices were likely oversold, and the latest rebound reflects bargain hunting and expectations of short-term market stabilization rather than a sustained rally.

OPEC+ Holds the Line

Meanwhile, the OPEC+ alliance continues to manage output carefully, maintaining its cautious approach to prevent oversupply. The group has been gradually reversing voluntary production cuts, seeking to balance market stability against sluggish global demand.

Despite mixed signals from major economies, OPEC’s restraint has helped underpin prices. Analysts believe the group’s strategy, combined with potential easing of trade tensions, could provide a support floor for crude in the near term.

Nigeria’s Production Gains Momentum

On the domestic front, Nigeria’s average daily crude production rose to 1.68 million barrels per day in the second quarter of 2025 — one of the highest levels in recent years. The increase reflects improved security in oil-producing regions and renewed investments in export infrastructure.

A major milestone came with the launch of Nigeria’s first fully owned Floating Storage and Offloading (FSO) vessel, positioned near the Bonny export terminal. With a capacity of 2.2 million barrels, the FSO will enhance crude transportation efficiency, reduce dependence on vulnerable pipelines, and mitigate the risks of oil theft and vandalism.

Outlook: Volatility with a Hint of Optimism

While global oil markets remain fragile and politically charged, the current rebound suggests cautious optimism. If Washington and Beijing manage to avoid escalating their trade dispute, and OPEC+ maintains its disciplined production stance, crude prices could consolidate above current levels.

Still, energy analysts warn that volatility will persist amid shifting geopolitical dynamics, fluctuating demand forecasts, and the uncertain pace of economic recovery in key markets. For Nigeria, steady oil prices coupled with rising output offer a welcome boost to government revenues—but only if global stability holds.

UEFA Sets €5 Billion Target as Netflix Eyes Champions League Broadcasting Rights

  • dollaers
  • October 13, 2025
  • Finance
  • 0 comments

UEFA is setting its sights on an ambitious €5 billion annual revenue goal as global streaming giant Netflix explores entering the football broadcast market by bidding for Champions League rights from the 2027–28 season.

According to The Times UK, Netflix is considering bidding for the rights to stream one Champions League match per round globally, marking a bold shift from its previous reluctance to embrace live sports.

Netflix’s Move into Live Sports

Netflix first tested live sports broadcasting with the Jake Paul vs. Mike Tyson fight in November 2024, which peaked at 65 million streams worldwide. The platform’s success in that experiment and its recent acquisition of U.S. rights to the 2027 and 2031 Women’s World Cups have encouraged it to explore deeper participation in premium live events.

While Netflix has built its sports reputation through behind-the-scenes series like Formula 1: Drive to Survive, Full Swing (golf), and Break Point (tennis), the Champions League would represent a much larger, high-stakes commitment — bringing together global audiences for weekly football fixtures featuring clubs such as Real Madrid, Bayern Munich, and Manchester City.

UEFA’s €5 Billion Ambition

UEFA and the European Football Clubs (EFC) organization — formerly the European Club Association — aim to increase revenues from €4.4 billion per year to at least €5 billion in the next broadcast cycle. The goal would place UEFA’s club competitions ahead of the Premier League’s £3.6 billion annual broadcasting income, making it the world’s most profitable football property.

From 2027, UEFA plans to restructure how it sells broadcast packages, offering for the first time a global streaming deal for one marquee Champions League fixture per round. The chosen broadcaster — with Netflix currently in talks — would have first pick of Tuesday matches but would face limits on repeatedly showing the same teams.

Other rights, including those for the Europa League and Conference League, will continue to be auctioned to traditional broadcasters such as Sky, DAZN, TNT Sports, and Discovery across major markets.

Why It Matters

A rise to €5 billion in annual income would solidify the Champions League’s position as the most valuable club competition in world football, ensuring higher payouts for participating clubs and reinforcing the tournament’s global appeal.

However, the growth could also intensify financial inequality within European football, as smaller clubs fear widening gaps between elite teams and those outside regular participation. UEFA maintains that solidarity payments to lower-tier competitions will continue to increase, but critics argue that most of the new revenue tends to stay at the top.

The Broader Impact

If Netflix secures rights, it could reshape the European broadcast market. Competing platforms may be forced to raise their bids to stay competitive, driving up costs across the board.

For fans, however, the change could mean more fragmented viewing options and higher subscription costs, with multiple platforms needed to watch domestic and European competitions.

UEFA President Aleksander Čeferin remains optimistic about the direction of travel:

“Together we are building something unique — to deliver the most engaging, innovative, and accessible football to expand our revenue streams. This is how we will keep European football at the top,” he said at the recent EFC assembly in Rome.

The Bottom Line

Whether or not Netflix wins the rights, its entry into the bidding process will almost certainly push prices higher — bringing UEFA’s €5 billion goal within reach. But the fundamental question remains unchanged:
Will the extra money strengthen European football as a whole, or will it simply make the biggest clubs even richer?

Either way, Netflix’s potential leap into live Champions League coverage could redefine how fans around the world experience football’s grandest stage.

Gidi Town by Hybrid Landtech: Unlocking Opportunity in Lagos’s Next Growth Zone

  • dollaers
  • October 12, 2025
  • Finance
  • 0 comments

Lagos’s urban expansion continues to push westward, opening up new investment frontiers for developers and homeowners. One of the most promising areas in this wave of growth is Ikola in Alagbado, strategically located along the Lagos–Abeokuta Expressway. Once a quiet suburb, Ikola is fast transforming into a real estate hotspot — and at the center of this evolution sits Gidi Town, a new buy-and-build estate by Terrastone Shelters, marketed exclusively by Hybrid Landtech.

Affordable Entry with Immediate Value

Gidi Town offers 500 sqm plots at a pre-launch price of N28 million, roughly 50% below the current market rate in nearby estates. In a location where similar plots go for N40–55 million, early buyers gain instant equity and the chance to benefit from the area’s steady price appreciation.

Each plot comes with a global Certificate of Occupancy (C of O) and a government-approved layout, providing both security of ownership and bankable documentation. Buyers also enjoy immediate allocation and the flexibility to start building right away — a rare advantage in Lagos’s competitive property market.

Secure Titles and Verified Documentation

In Nigeria’s real estate space, documentation determines value. Gidi Town’s C of O (valid for 99 years) offers buyers government-recognized ownership rights, legal protection against disputes, and access to property-backed financing.

The estate also features a perfected layout plan approved under reference LY MPPUD/DP/PR6/2021/TTD, ensuring its infrastructure and land divisions meet regulatory standards. This eliminates the cost, time, and risk associated with processing land titles independently — a major advantage for investors, especially those in the diaspora.

Market Context: A Rising Corridor

A few years ago, plots in the Ikola-Alagbado corridor sold for as little as N6 million. Today, those same plots are worth over N50 million, representing an eightfold increase in less than five years. The area’s rapid growth is driven by improved infrastructure — notably new link bridges and boundary roads connecting Ikola to Command, Ayobo, Ipaja, and Ota.

  • Land value growth: Similar plots in estates like Fairmont Hartland now sell for N55 million.

  • Housing prices: Detached homes in Alagbado range from N60 million to N130 million, showing strong demand for mid- to upper-tier housing.

  • Infrastructure: The area benefits from reliable road networks, public amenities, and proximity to key landmarks such as AIT, Winners Chapel’s Ark Auditorium, and Ayobo Market.

With Lagos facing a persistent housing shortage — estimated in the millions — the scarcity of affordable, documented land continues to push values upward. For investors, Gidi Town provides a hedge against inflation and an entry point into a market with consistent appreciation.

Ready Infrastructure in a Mature Neighborhood

Unlike many new developments carved out of undeveloped land, Gidi Town is surrounded by a mature, thriving community. The estate sits on a flat, dry hilltop, giving it both good drainage and scenic views. It features perimeter fencing, internal road networks, drainage, and electricity access — all designed to support immediate development.

From Ikola, major parts of Lagos’s mainland — including Ikeja — remain within comfortable reach, making Gidi Town attractive to both commuters and families seeking suburban comfort without sacrificing city access.

A Smart Investment for Nigerians at Home and Abroad

For Nigerians in the diaspora, Gidi Town provides a secure, verifiable foothold back home: titled land, instant allocation, and transparent purchase processes. For young professionals and growing families priced out of central Lagos, it offers a chance to own and build within reach of major business districts.

Given the area’s growth trajectory, a 500 sqm plot bought for N28 million today could see significant value increases as infrastructure projects and population growth continue to accelerate.

How to Get Started

Hybrid Landtech has opened pre-launch sales with flexible payment plans available for early investors. Interested buyers can book inspections, explore plot options, and lock in introductory pricing before rates adjust to market levels.

Gidi Town represents more than just land — it’s a stake in the next phase of Lagos’s urban expansion, combining secure documentation, strong infrastructure, and long-term growth potential.

Nigeria’s External Debt Service Rises to $932.1 Million in Q2 2025 — IMF and Eurobond Holders Lead Payments

  • dollaers
  • October 12, 2025
  • Finance
  • 0 comments

Nigeria spent $932.1 million servicing its external debt in the second quarter of 2025, according to new data released by the Debt Management Office (DMO). The report underscores the country’s continued fiscal strain from rising foreign debt obligations.

Breakdown of Q2 2025 External Debt Payments

The DMO report, titled “Actual External Debt Service Payments for April – June 2025”, shows that multilateral, bilateral, and commercial creditors all received payments during the period, with multilateral institutions accounting for the majority.

Out of the total $932.1 million:

  • Multilateral creditors received $629.38 million (68% of total payments).

  • Bilateral creditors were paid $41.18 million.

  • Commercial creditors, including Eurobond holders and Unicredit SPA, received $261.55 million.

The International Monetary Fund (IMF) was the single largest recipient, with $415.6 million paid in principal obligations—nearly half of all external debt service in the quarter.

Key Creditors

Within the multilateral category, payments were made to:

  • International Development Association (IDA): $121.37 million

  • International Bank for Reconstruction and Development (IBRD): $36.21 million

  • African Development Bank (AfDB): $43.75 million

  • African Development Fund (ADF): $3.66 million

  • Islamic Development Bank (IsDB): $2.22 million

  • European Development Fund (EDF): $1.69 million

For bilateral creditors, disbursements included:

  • Agence Française de Développement (AFD): $34.48 million

  • China Development Bank (CDB): $6.64 million

  • Japan International Cooperation Agency (JICA): $61,529

In the commercial category:

  • Eurobond holders received $260.07 million in interest payments.

  • Unicredit SPA received $1.47 million.

Rising Debt Burden

Between January and April 2025, Nigeria spent over $2.01 billion on external debt servicing — a 50% increase compared to the same period in 2024.

The IMF earlier confirmed that Nigeria has fully repaid the $3.4 billion financial support it received in 2020 under the Rapid Financing Instrument (RFI), which was designed to cushion the economic impact of the COVID-19 pandemic and falling oil prices.

However, the Fund noted that Nigeria will continue to pay about $30 million annually in Special Drawing Rights (SDR) charges over the coming years, due to differences between the country’s SDR holdings and allocations.

Domestic Debt and Broader Fiscal Outlook

As of mid-2025, Nigeria’s domestic debt stock stood at N76.59 trillion, with Federal Government Bonds (FGN Bonds) accounting for N60.65 trillion (about 79% of the total).

Domestic debt service in Q2 2025 reached N1.707 trillion, comprising N1.686 trillion in interest payments and N20.14 billion in principal repayments.

Meanwhile, the World Bank projects that Nigeria’s total public debt-to-GDP ratio will decline from 42.9% to 39.8%, marking the first potential drop in over a decade.

ChatGPT said: Green Worship Donates N160 Million to Support Special Needs Children and Charities Across Nigeria

  • dollaers
  • October 12, 2025
  • Finance
  • 0 comments

Concert for Change, the organisers of Green Worship, has disbursed N160 million to support children with special needs and provide funding to five charity organisations across Nigeria.

The non-profit initiative announced that it aims to raise N100 million annually and expand its support base from four to ten beneficiary charities as part of its mission to improve the lives of vulnerable children across the country.

Upcoming Fundraising Event

The next edition of the Green Worship concert — Green Worship 8.0 — will take place next week at the MUSON Centre, Onikan, Lagos, and will feature some of Nigeria’s leading gospel artists. The event blends worship and philanthropy, with proceeds dedicated to supporting orphans and children living with disabilities.

Among the featured artists are Nathaniel Bassey, Dunsin Oyekan, Gaise Baba, Anendlessocean, Preye Odede, Rotimi Keys, Kent Egunjobi, Moyosola Olowokure, Gospel Force, Ellie Scotte, Outgun Onkar, and Wale Adenuga.

N160 Million Disbursed to Five Charities

According to the organisers, funds from previous editions were channelled to five key beneficiaries, including:

  • Comrade David Ofoeyeno School for Special Children (Warri)

  • Marvelous Foundation Orphans Care Centre (Minna)

  • Super Parents Foundation (Lagos)

  • Hope Orphanage (Akure)

  • Learning Disabilities Society of Nigeria (Uyo)

“Turning Worship into Action” — Wale Adenuga

Speaking during the announcement in Lagos, Green Worship Convener, Wale Adenuga, described the initiative as “a testament to what God can do through people with willing hearts,” likening it to the biblical miracle of five loaves and two fishes.

He added:

“We know these are challenging times, and needs around us continue to grow. Yet, in the midst of this, there are charities doing incredible work — feeding, teaching, and caring for orphans and children with special needs. The least we can do is lighten their burden.”

Adenuga emphasized that Green Worship seeks to transform worship into tangible compassion:

“This is what Green Worship stands for — creating a space where worship becomes a response to human need, and songs turn into support. Compassion is powerful, generosity transforms lives, and together we can bring hope to others.”

Through its Concert for Change platform, Green Worship continues to inspire generosity, demonstrating how faith-driven initiatives can make lasting social impact across Nigeria.

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