Finance

Read How to Enjoy 9mobile Magic Hour Package

Published

5 years ago

February 14, 2019

Read How to Enjoy 9mobile Magic Hour Package

9mobile rolls out Magic Hour package

9mobile Magic Hour Package – Life is a continuous journey of survival and determination. Those who make a great mark in life are those that strive to succeed against all odds. We see this tenacity in the lives of Nigerians.

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Famed for their indefatigable spirit, Nigerians don’t give up easily – even in the face of the daily challenges of life. We believe that each day comes with its own promises of survival. This is what caught my eyes in the latest television commercial that 9mobile released recently to launch its 9mobile Magic Hour Package.

The advert tells a story of a man, who is confronted with the daily struggle for survival. It is a story of hope and determination; a compelling one that shows how a brand’s reward to a loyal customer can change his fortune.

9mobile Magic Hour Package

Also commendable is the use of music to enhance the key message of the TVC for easy understanding; the fine art of storytelling and the unusual approach of visual narrative will surely resonate with Nigerians.

9mobile is literally changing the narrative! For a brand that has gone through a lot in the last one year, 9mobile has once again demonstrated its love and commitment to Nigerians by launching a daily reward promo especially during the first quarter of the year when things are generally tough.

This shows that year 2019 will be exciting and fun-filled for subscribers of Nigeria’s fastest and most reliable network, 9mobile, as the network is set to reward her loyal customers with amazing cash prizes in a new mega promo tagged “9mobile Magic Hour Package”. In this massive magical promotion, there will be something for everyone! From airtime bonuses, to smartphones and millions of Naira in cash prizes.

9mobile Magic Hour Package

The Magic Hour Promo is not surprising though, 9mobile is known for its commitment to customers and to show how much they are valued, the telco giant offers freebies from time to time.

What is however surprising is the fact that despite the challenges the brand has faced in the recent past, it has continued to demonstrate a strong determination to succeed against all odds.From the launch of the brand’s 9nniversary campaign to this Magic Hour promo, no one is left in doubt that 9mobile is back bigger and better.

To participate in the Magic hour promo is super easy, all you need to do is recharge your 9mobile line with N100 and above and you are qualified to win any of the amazing cash prizes 9mobile is rewarding their loyal consumers with. From all indications, the magic hour promo isn’t just one of those promotions where prizes are not redeemed. 9mobile has an unbroken record of matching words with action when it comes to redeeming its promises to consumers.

Over the last decade, the brand has always found innovative ways to connect with its customers, give them superior online experience and reward them for their loyalty. The Magic Hour promotion is no different; it is already set to reward loyal consumers and give them the best value for their money.

This promotion is 9mobile’s way of giving back to customers who have remained loyal throughout the years. No doubt, customers will be excited about all the cash prizes and smartphones they will be receiving.

9mobile Magic Hour Package

For the duration of the 1 lucky subscriber will win N250,000 while 5 others will win N50,000 daily, 5 smartphones will be given away weekly, N5million will be up for grabs every month and the ultimate winner will go home with the whooping prize of N20 million at the end of the promo. This is indeed a life changing opportunity for 9mobile customers.

With the winnings, lucky winners can buy a newcar,house, get that smart phone, pay school fees, rent a new flat and sort out family expenses. This is truly a promo for the people going by the frequency of winnings – daily, weekly and monthly. The Magic Hour Promo is part of the 9mobile9nniversary celebration that recognizes and rewards the resilient optimistic spirit of the everyday Nigerian.

There will be a brand-new theme song, a video that gives everyone the chance to be a superstar, and the massive promo rewards. Remember that everyone is a winner in the 9mobile Magic Hour Promotion, all you have to do is recharge N100 and above and get a chance to win millions of Naira in cash prizes while enjoying the better and superior services of 9mobile.

Finance

AfDB Secures $15.6bn for Lagos-Abidjan Highway Corridor

Published

2 years ago

March 18, 2022

Onyebuchi Aniekeyi

AfDB Secures $15.6bn for Lagos-Abidjan Highway Corridor

Author: Eunice Johnson, Abuja

President of the African Development bank, Dr. Akinwumi Adesina, has announced that the bank has secured 15.6bn dollars for the construction of the Lagos-Abidjan highway corridor, which would ease transportation across West Africa.

Adesina made this announcement during the 2021 Africa Investment Forum’s virtual boardroom closing session on Thursday.

The AFDB President said the 15.6bn dollar deal which is the biggest deal for the boardroom is a 46-lane highway corridor which will connect Lagos, Cotonou, Lome, Accra and Abidjan.

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According to him, the project would support trade in West Africa, impacting the lives of over 500 million people, reducing transport costs and increasing intra-regional trade volume.

The bank will also be establishing a 1m dollars AFAWA women advisory facility to support women with advisory services.

Finance

Nigeria Borrowed N6.64tn, Serviced Debt with N2.93tn in 2021 – DMO

Published

2 years ago

March 18, 2022

Onyebuchi Aniekeyi

Author: Gift Wada, Abuja

THE Debt Management Office on Thursday said Nigeria’s total public debt stock increased to N39.56tn in 2021 from N32.92tn in 2020.
The Director-General, DMO, Patience Oniha, said this at a media briefing in Abuja.
According to her, the total debt includes new borrowings by the Federal Government and the sub-nationals.
She also said that the amount helped in financing the budget deficit, capital projects and support economic recovery.
Oniha said, “Nigeria’s total public debt as at December 31, 2021, was N39.56tn or $95.78bn. The amount represents the total external and domestic debts of the Federal Government of Nigeria, 36 state governments and the federal capital territory.
“The comparable figure for December 31, 2020, was N32.92tn or $86.39bn. The public debt stock for December 31, 2021, includes new borrowings by the FGN and the sub-nationals. For the FGN, it would be recalled that the 2021 appropriation and supplementary acts, included total new borrowings (from domestic and external sources) of N5.49tn to part-finance the deficit.
“Borrowings for this purpose and disbursements by the multilateral and bilateral creditors account for a significant portion of the increase in the debt stock. Increases were also recorded in the debt stock of the states and the FCT.”
She further said that despite the debt increase, the country is still within the total public debt stock to the Gross Domestic Product limit of 55 per cent set by the World Bank and 70 per cent set by the Economic Community of West African States.
Oniha also said that the Federal Government was “mindful of the relatively high debt-to-revenue ratio” and has established certain measures to increase revenues through the strategic revenue growth initiative and the introduction of Finance Acts since 2019.
She said, “The new borrowings were raised from diverse sources, primarily through the issuances of the Eurobonds, sovereign Sukuk, and the FGN bonds. These capital raisings were utilised to finance capital projects and support economic recovery.

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“With the total public debt stock to GDP as at December 31, 2021, of 22.47 per cent, the debt-to-GDP ratio still remains within Nigeria’s self-imposed limit of 40 per cent. This ratio is prudent when compared to the 55 per cent limit advised by the World Bank and the International Monetary Fund for countries in Nigeria’s peer group, as well as, the ECOWAS convergence ratio of 70 per cent.”
However, findings showed that Nigeria spent N2.93tn on debt servicing payments in 2021, according to the data obtained from the DMO.
Between January and March 2021, Nigeria spent N612.71bn on domestic debt servicing, while it spent $1bn (N415.92bn) on external debt servicing, giving a total of N1.03tn.
From April to June 2021, the country spent N322.7bn on domestic debt servicing and $299m (N124.36bn) on external debt servicing, showing a total of N447.06bn.
From July to September 2021, Nigeria spent N808.49bn on domestic debt servicing and $520.78m (N216.6bn) on external debt servicing, giving a total of N1.03tn.
Between October and December 2021, Nigeria spent N310.5bn on domestic debt servicing, while it spent $286.35m (N119.1bn) on external debt servicing, giving a total of N429.6bn.
The official exchange rate of the Central Bank of Nigeria, which showed $1 =N415.92 as of March 17, was used for the external debt servicing.

Finance

Nigeria Emerges First in Africa to Access ICM, Raises $1.25bn Eurobonds

Published

2 years ago

March 18, 2022

Gift Wada

Nigeria Emerges First in Africa to Access ICM, Raises $1.25bn Eurobonds

Nigeria has officially raised 1.25 Billion dollars through the issuance of a seven-year Eurobonds in the International Capital Market (ICM).
The Director-General of the Debt Management Office (DMO), Patience Oniha made this known in a statement on Thursday.

Oniha said that with this feat, Nigeria has become the first African country to access the ICM in 2022.

According to her, the country’s ability to access the Eurobonds at this time was a confirmation of her established presence with the ICM and engagement with investors on a continuous basis.
She said that the proceeds of the bonds would be used to finance the budget and bridge infrastructural deficits.
“The offer was launched at an initial price thought of 8.75 per cent per annum and on the back of strong investor demand, Nigeria was able to reverse the price guidance to 8.5 per cent per annum.

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“The order book continued to grow, reaching a peak of four billion dollars,” she said.
She said that the order book included many quality investors in the U.S., Europe and Asia.

“With this strong investor interest the price was tightened at 8.37 per cent per annum, the order book still remained high at 3.67 billion dollars and still retained quality investors,” she said.
She said that Nigerian investors also participated in the offer with a total subscription of 60 million dollars.

She added that the Eurobonds would also strengthen economic recovery and contribute directly and in full to the level of Nigeria’s External Reserves.
Reports Show that the DMO had earlier on Thursday revealed that Nigeria ’s ’total debt stock as at December 2021 was N39.55 trillion.