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What Nigerian, American brands will benefit from US-Nigeria commercial ties – US Mission

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The United States-Nigeria commercial ties is expected to create more jobs and investment in Nigeria, as American brands have the opportunity to expand their franchises to Nigeria.

This was disclosed by the U.S. Mission Commercial Counselor, Jennifer Woods via a statement issued on Monday after the grand opening of Burger King’s first outlet in Nigeria.

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Woods hailed the growing US-Nigeria commercial ties as American brands and franchises expand to Nigeria, bringing jobs and investment.

What the U.S. Mission is saying about commercial ties

She explained that the arrival of the iconic U.S. brand into the country will have an impact on the economy, especially for a well-known name like Burger King in an emerging market such as Nigeria.

She said, “With Africa’s largest economy and a sizable youth population that is connected to the world, U.S. brands must consider Nigeria a critical market.

“And while these companies will benefit from expansion into Nigeria, so, too, will Nigeria benefit from their presence.”

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Woods explained that the addition of another American franchise – one that emphasizes a culture of excellence – will help provide job opportunities as the business expands to new locations across the country.

She lauded the high level of consumer interest and enthusiasm for the iconic American quick-service restaurant since opening its doors in early November.

“The enthusiasm has been overwhelming, and this speaks volumes of the strength of American brands, and on a deeper level, the connection between our two countries,” she added.

In case you missed it

At the grand opening ceremony of Burger King outlet, the Speaker of the House of Representatives, Honourable Femi Gbajabiamila, had congratulated Burger King and its local partners on the exciting business venture, describing it as one more sign of the benefits of a close U.S.-Nigeria bilateral relationship.

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He said, “We expect Burger King to roll out outlets in hundreds across the country.”

Present at the grand opening ceremony were managers from Burger King’s global team including Robert Lu, General Manager for Burger King UK, Middle East, and Africa, and Almu Miguel-Romero, Area Franchise Lead for Sub-Saharan Africa.

Source: NairaMetrics

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DMO Lists $4bn Eurobond on FMDQ Securities Exchange

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By Aduragbemi Omiyale

The $4 billion Eurobond issued by the federal government of Nigeria has been listed on the FMDQ Securities Exchange, Business Post has learned.

The debt securities were issued by the Nigerian government and sold to offshore investors by the Debt Management Office (DMO).

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In a statement dated Tuesday, January 25, 2022, the debt office noted that the bonds would also be listed on the Nigerian Exchange (NGX) Limited to provide “a diversified pool of financial offerings for investors.”

Last September, the DMO sold the $4 billion Eurobond in three tranches of 7 years of $1.25 billion due September 2028 at 6.125 per cent, 12 years of $1.50 billion due September 2033 at 7.375 per cent and 30 years of $1.25 billion due September 2051 at 8.250 per cent.

It was observed that the subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

The paper was sold to raise funds for the implementation of the 2021 Appropriation Act and it subsequently boosted the external reserves of the nation.

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“The Debt Management Office (DMO) listed the $4 billion Eurobond issued by the Federal Government of Nigeria (FGN) on the FMDQ Securities Exchange on January 25, 2022.

“It will be recalled that the Eurobond was issued on September 28, 2021, as part of the fund-raising for the implementation of the 2021 Appropriation Act. In order to manage the liability profile, it was issued in three (3) tranches of 7 years, 12 years and 30 years.

“The subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

“The Eurobond issuance shored up Nigeria’s foreign reserve, led to the appreciation of the Naira and provided significant capital to finance various projects across Nigeria under the 2021 Appropriation Act.

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“The Eurobond will also be listed on the Nigerian Exchange Limited. The listing on these two securities exchanges will enlarge their scope while also providing a diversified pool of financial offerings for investors,” the notice from the DMO stated.

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Business News

DMO Lists $4bn Eurobond on FMDQ Securities Exchange

Published

on

By Aduragbemi Omiyale

The $4 billion Eurobond issued by the federal government of Nigeria has been listed on the FMDQ Securities Exchange, Business Post has learned.

The debt securities were issued by the Nigerian government and sold to offshore investors by the Debt Management Office (DMO).

Advertisement

In a statement dated Tuesday, January 25, 2022, the debt office noted that the bonds would also be listed on the Nigerian Exchange (NGX) Limited to provide “a diversified pool of financial offerings for investors.”

Last September, the DMO sold the $4 billion Eurobond in three tranches of 7 years of $1.25 billion due September 2028 at 6.125 per cent, 12 years of $1.50 billion due September 2033 at 7.375 per cent and 30 years of $1.25 billion due September 2051 at 8.250 per cent.

It was observed that the subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

The paper was sold to raise funds for the implementation of the 2021 Appropriation Act and it subsequently boosted the external reserves of the nation.

Advertisement

“The Debt Management Office (DMO) listed the $4 billion Eurobond issued by the Federal Government of Nigeria (FGN) on the FMDQ Securities Exchange on January 25, 2022.

“It will be recalled that the Eurobond was issued on September 28, 2021, as part of the fund-raising for the implementation of the 2021 Appropriation Act. In order to manage the liability profile, it was issued in three (3) tranches of 7 years, 12 years and 30 years.

“The subscription level for the Eurobond was $12.2 billion, making it one of the continent’s most successful financial transactions of 2021.

“The Eurobond issuance shored up Nigeria’s foreign reserve, led to the appreciation of the Naira and provided significant capital to finance various projects across Nigeria under the 2021 Appropriation Act.

Advertisement

“The Eurobond will also be listed on the Nigerian Exchange Limited. The listing on these two securities exchanges will enlarge their scope while also providing a diversified pool of financial offerings for investors,” the notice from the DMO stated.

Continue Reading