Yields on Federal Government of Nigeria (FGN) bonds remained below the 16% threshold in the secondary market, reflecting investors’ restrained appetite amid mixed signals in the fixed-income landscape.
The bond market has been treading cautiously following the recent interest rate cut by monetary authorities, which has encouraged some investors to shift towards riskier assets. Despite sufficient liquidity across the financial system, bargain hunting has stayed muted, underscoring a conservative stance among traders dealing in sovereign debt instruments.
Analysts say the flexibility granted to pension fund administrators in portfolio management could potentially redirect focus away from low-yield bonds, affecting trading dynamics in the medium term.
With inflation data expected later this week, activity within the federal government bond space remained subdued. The short end of the curve dipped slightly by one basis point (-1bp), while the overall average yield across the curve held steady at 15.98%.
Conversely, the Treasury bills market displayed mild bullish sentiment, particularly across the short (-2bps) and mid (-2bps) segments, pulling the average yield down marginally by one basis point to 17.39%.
Across benchmark bonds, yields expanded slightly at the mid segment (+1bp) due to profit-taking on the JUL-2034 instrument but remained flat at both the short and long ends of the curve.
Fixed-income investors continue to show measured optimism toward naira-denominated assets, concentrating on short- and mid-tenor maturities. The Debt Management Office (DMO) has published its Q4 2025 bond issuance calendar, featuring reopenings of the AUG 2030 and JAN 2032 papers.
For now, the average benchmark yield remains stable at 15.98%. Market analysts anticipate that investor sentiment will likely stay cautious in the near term as inflation and interest rate expectations continue to shape trading strategies.
Global oil prices fell on Tuesday as easing tensions in the Middle East and renewed concerns over trade frictions between the United States and China weighed on market sentiment.
Brent crude futures declined by 0.7%, trading at $62.68 per barrel compared to Monday’s close of $63.18, while West Texas Intermediate (WTI) crude dropped 0.8% to $58.70 from $59.21.
The downturn came after U.S. President Donald Trump threatened to impose steeper tariffs on Chinese imports in retaliation for Beijing’s export restrictions on rare earth materials. The proposed 100% tariff, set to take effect on November 1, would double existing duties.
Although Trump later downplayed trade concerns—stating that there was “nothing to worry about” and expressing confidence in a resolution—investor caution persisted. U.S. Vice President JD Vance added that Washington remains open to dialogue if China “acts reasonably,” though he cautioned that the U.S. still holds “many more cards to play.”
Despite the more diplomatic tone, uncertainty surrounding trade talks between the two largest economies continues to cloud global demand forecasts.
Adding further pressure, geopolitical risks in the Middle East have eased. Monday’s Sharm el-Sheikh Peace Summit in Egypt, attended by key regional and global leaders, focused on reinforcing the Gaza ceasefire and fostering stability across the region.
Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) held steady its projections for global oil demand growth in both 2025 and 2026, citing consistent consumption patterns in its latest oil market report.
Traders now await the International Energy Agency’s (IEA) upcoming market report, expected later Tuesday, which could provide fresh insight into global supply-demand balances amid persistent volatility.
Yields on Nigerian Treasury Bills (NTBs) recorded a marginal decline this week as cautious trading dominated the fixed-income market ahead of the country’s latest inflation report. Market data showed that the average yield slipped by 1 basis point to settle at 17.39% in the secondary market.
Although liquidity conditions remained relatively tight, the market displayed a slightly bullish tone, supported by bargain-hunting activities across selected maturities. Traders said investors were reacting to recent spot rate adjustments observed in the mid and long segments of the yield curve, while mixed investor sentiment limited the intensity of demand.
Analysts noted that expectations of continued disinflation, driven by relative stability in food prices and the exchange rate, have supported mild optimism in the fixed-income space. However, they warned that recent strike actions, which disrupted oil production and reduced government revenue, could slow economic recovery and affect market direction.
Market liquidity fell further to ₦2 trillion following a series of open market operations (OMO) that withdrew about ₦5.32 billion from the system last week. This tightening in liquidity exerted mild bearish pressure on select fixed-income instruments, though overall sentiment remained steady.
In the NT-Bills market, trading patterns were mixed. Yields declined on the 18-Jun-26 and 08-Oct-26 maturities, while slight upticks were recorded on the 23-Jul-26 and 20-Aug-26 papers.
Across the yield curve, the short and mid segments contracted by 2 bps and 3 bps, respectively—largely driven by demand for the 87-day and 178-day maturities, both of which fell 3 bps. Conversely, the long end of the curve inched up by 1 bp, reflecting sell pressure on the 283-day-to-maturity bill, which climbed 13 bps.
A similar pattern was observed in the OMO segment, where the average yield fell by 7 bps to 20.5%, suggesting renewed investor interest in short-term debt instruments despite limited liquidity.
With inflation data expected later in the week, traders anticipate that the market will remain cautious as investors reassess real yield positions amid evolving macroeconomic indicators.
Nigeria’s interbank money market witnessed mixed movements this week as a decline in liquidity surplus reshaped short-term funding dynamics across the financial system. According to investment analysts, market liquidity opened the week at a relatively solid ₦2.03 trillion, though notably lower than previous levels.
The available liquidity was buoyed by inflows totaling ₦29.18 billion from the Federal Government’s 2033 Sukuk bond coupon payments. Additionally, commercial banks continued to place excess cash at the Central Bank of Nigeria’s (CBN) Standing Deposit Facility (SDF), which currently offers a rate of 24.5%.
This activity comes amid the backdrop of reduced yields on Nigerian Treasury Bills (NTBs) following the CBN’s recent interest rate adjustment, which has moderated returns across different tenors.
In the interbank space, overnight lending rates remained stable at 24.86% after last week’s auctions and maturities. Meanwhile, medium-term rates experienced mild corrections, with the 1-month, 3-month, and 6-month maturities falling by 10 basis points (bps), 18 bps, and 25 bps, respectively.
Funding costs presented a mixed picture, as the overnight rate dropped slightly by 7 bps to 24.90%, while the Open Purchase Rate (OPR) held steady at 24.85%.
On the Treasury Bills secondary market, yields advanced across most maturities on Monday, with the 1-month, 3-month, 6-month, and 12-month papers climbing by 12 bps, 28 bps, 0.5 bps, and 5 bps, respectively, according to data from Cowry Asset Management Limited.
Despite these yield increases, the average NT-Bills yield edged down by a marginal 1 bp to 17.39%, reflecting ongoing investor optimism and sustained buying pressure in the secondary market.
Looking ahead, analysts project that liquidity conditions may improve due to an anticipated inflow of ₦481.33 billion from an upcoming OMO maturity. However, they cautioned that any potential liquidity mop-up operation by the apex bank could dampen the expected moderation in funding costs.
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WEEK: 16; SEASON: UK 2025/2026; DATE: 18-October-2025
In September 2025, Nigeria experienced a contraction in its crude oil output, reaching just 1.39 million barrels per day, continuing a downward trend for the second month in a row.
The Nigerian Upstream Petroleum Regulatory Commission previously indicated that this dip stemmed from operational interruptions triggered by a labor dispute involving the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Dangote refinery.
As detailed in the most recent Monthly Oil Market Report issued by the Organization of the Petroleum Exporting Countries on Monday, this level reflects a drop from the 1.434 million barrels per day seen in August, hitting the lowest point in the past seven months and slipping under Nigeria’s assigned OPEC quota of 1.5 million barrels per day.
OPEC noted that these production statistics were gathered via direct consultations with Nigerian officials. The data originated from submissions by the NUPRC.
The NUPRC disclosed that the combined crude oil and condensate production for Nigeria averaged 1.581 million barrels per day during September 2025. Per the commission’s breakdown, this total included 1.39 million barrels per day of crude oil alongside 191,373 barrels per day of condensates.
The NUPRC pinpointed the reduction mainly to a three-day work stoppage initiated by PENGASSAN within that month.
This industrial action resulted in the temporary closure of multiple production sites and export terminals, causing delays in both output and shipping timelines. During June and July, Nigeria slightly exceeded its OPEC allocation, a milestone it also reached back in January.
Sahara Group To Invest $1bn in LPG in Nigeria, Others
Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has stepped in to address the ongoing shortage of liquefied petroleum gas, commonly referred to as cooking gas, vowing to take strong action against marketers involved in stockpiling or overcharging customers.
This comes amid grievances from retailers about the disparity between the rates provided by the Dangote refinery and the elevated amounts charged by intermediaries when selling to the broader market.
It’s worth noting that Aliko Dangote, the refinery’s head, had previously warned of potentially handling distribution directly if partners failed to help lower costs.
During a discussion with our reporter on Monday, Ayobami Olarinoye, who leads the Liquefied Petroleum Gas Retailers division of the Nigeria Union of Petroleum and Natural Gas Workers, revealed that the Dangote refinery offers LPG at N15.8 million for 20,000 metric tonnes to primary buyers and large distributors, who then pass it on to retailers at prices ranging from N18.4 million to N18.5 million for the same quantity.
Insiders at the Dangote refinery informed our reporter that “distributors collect the product from us at N715,000 per metric tonne, up to N790,000 per metric tonne.” They clarified that one metric tonne contains 1,000 kilograms.
“In terms of a metric tonne, that’s 1,000 kg. Distributors acquire LPG at N715 per kg directly from the plant.
We have no influence over end-user pricing. Based on the Petroleum Industry Act and guidelines from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, price setting is a government function. Our control ends at the refinery gate. If they mark it up to N2,000 per kg after purchasing at N715 per kg, we’re powerless to intervene,” the insiders explained.
Recently, cooking gas costs have surged from around N1,000 per kilogram to as much as N2,000 per kg in certain areas. This spike coincided with the recent work stoppage by the Petroleum and Natural Gas Senior Staff Association of Nigeria amid tensions with the Dangote refinery.
Nearly two weeks following the end of the strike, cooking gas prices have remained elevated, with shortages persisting. In a statement released by his media aide, Louis Ibah, the minister voiced worries about the situation, calling for patience from the public and guaranteeing that conditions would stabilize by the following week.
He attributed the abrupt price jump to two key issues: the PENGASSAN labor action at the Dangote refinery and routine upkeep at the Nigeria LNG Train 4 plant.The minister elaborated that the PENGASSAN protest briefly stopped LPG shipments from Dangote, while the NLNG maintenance cut back on available gas supplies for local use.
These interruptions created a supply deficit, driving up prices due to mismatched demand and availability. Nevertheless, Ekpo highlighted progress, noting that activities at the Dangote refinery have restarted, with domestic LPG deliveries now in progress. He mentioned that the Bonny River Terminal, managed by Seplat Energy, has also begun shipments, and NLNG is ramping up to full capacity as repairs wrap up.
“These advancements should balance out domestic supplies by next week, paving the way for steady price drops,” the minister stated.
Ekpo emphasized that the LPG sector operates without price controls and encouraged all participants in the gas industry—marketers, distributors, and others—to act responsibly. He urged them to avoid stockpiling and to steer clear of profiteering at consumers’ expense.
“To enforce adherence, the minister has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority to ramp up oversight of LPG storage facilities nationwide, aiming to curb hoarding and other unethical behaviors that could aggravate the crisis,” the statement continued.
In his remarks, Olarinoye argued that hoarding wouldn’t occur if supplies were sufficient. “I maintain that the core issue is insufficient availability relative to consumer needs,” he asserted.
Although he supported any initiatives to boost LPG accessibility and affordability, he pointed out that retailers lack the means to hoard large volumes.
“What’s our storage limit to begin with? Regulations restrict the amount we can hold in one spot for safety reasons, which is why retailers often suffer first during supply disruptions in the chain. I’m speaking only for LPG retailers. Maybe authorities have intelligence indicating otherwise. From my perspective, the real problem is product scarcity,” he elaborated.
Additionally, the retailer recommended that the government investigate why key players have reduced purchases from NLNG since the Dangote refinery entered the scene.
“Authorities should explore why primary buyers and large firms aren’t sourcing from NLNG as before to support Dangote’s output. NLNG could offer competitive pricing, close to Dangote’s or with a minor gap that buyers can overlook. This might encourage more uptake,” he proposed.
Olarinoye called on the Federal Government to actively resolve the ongoing disputes between Dangote and labor groups to ensure reliable LPG production and supply.
“Over time, the government ought to push other approved private refineries to accelerate development, reducing dependence on one provider. Granting more licenses and overseeing construction starts is essential.
“The administration under Bola Tinubu must address the challenges plaguing the four idle state-owned refineries,” he recommended.
Previously, the Nigerian Association of Liquefied Petroleum Gas Marketers claimed that retailers were responsible for the recent cooking gas price escalation throughout the nation.
Oladapo Olatunbosun, NALPGAM’s National President, pointed fingers at gas retailers for the increases. On Channels Television, Olatunbosun linked the rises to brief supply interruptions and opportunistic practices by certain players. He maintained that no formal price adjustment had occurred for LPG, attributing the problem to profiteers capitalizing on gaps from the PENGASSAN action.
“As NALPGAM’s leader, I feel for Nigerians because this wasn’t our plan. Let me be clear: cooking gas prices haven’t officially risen. Some marketers are exploiting shortages and economic dynamics for fast gains, which we condemn as an organization,” Olatunbosun commented.
Yet, LPG retailers pushed back, labeling Olatunbosun’s statements as “unjust and ill-informed.” Our reporter remembers that LPG was available for as little as N950 per kg in some spots prior to the sharp increase after the PENGASSAN disruption.
As of Monday, reports from Nigerians indicate prices still hover at N2,000 in regions like Lagos and Ogun, with slight reductions in a few areas, though many retailers remain out of stock.
Worries persist that some households are reverting to traditional fuels like wood and coal for meal preparation. However, the gas minister assured that stability would return by next week.
The Lagos State Government has announced that construction of the $3 billion Green Line Rail Project will commence in December 2025, marking a major milestone in the state’s ongoing efforts to modernise public transportation and reduce traffic congestion.
The announcement was made by the Commissioner for Transportation, Oluwaseun Osiyemi, through a statement shared on the official X (Twitter) handle of the Lagos State Government on Monday.
Osiyemi described the Green Line as one of the most ambitious transport projects in Lagos’ history, designed to link Marina on Lagos Island to the Lekki-Epe corridor through a modern 70-kilometer rail system.
Phased construction to begin from Lekki to Epe
According to Osiyemi, construction will be executed in two major phases over two to three years.
The first phase will run from Lekki First Tollgate to Epe, while
The second phase will extend from Marina, running partly on water to accommodate Lagos’ coastal terrain.
“The government has conducted extensive stakeholder engagements and feasibility studies along the Lekki-Epe corridor. The Green Line project will commence in December and will be completed in phases over two to three years,” Osiyemi stated.
Preparatory works underway along the Lekki-Epe corridor
Ahead of construction, the government has intensified enforcement operations along the Lekki-Epe Expressway to clear encroachments and restore wetlands within the project’s right-of-way.
This includes relocation of roadside traders, removal of illegal structures, and improvement of drainage systems to create a safer and more sustainable environment for the rail line.
Modern features and faster commuting
The Green Line will feature 17 stations across Victoria Island, Lekki, Ajah, Sangotedo, and Epe, connecting major residential and commercial districts.
Each station will be equipped with:
Pedestrian bridges, elevators, and escalators
Digital ticketing systems
Park-and-ride facilities
A major train depot will be located in Sangotedo, while a 15-hectare parking area is planned near the Lekki Free Trade Zone.
Trains will operate in eight-car B-type sets, reaching speeds of up to 100 km/h with a minimum waiting time of three minutes. The system is projected to carry up to 35,000 passengers per hour per direction, cutting Marina–Epe travel time to under one hour.
Funding and partnership with China Harbour Engineering Company
The project, valued at approximately ₦4.5 trillion, will be developed under a public-private partnership (PPP) model.
The Federal Government has allocated ₦146.14 billion in the 2025 national budget as counterpart funding.
A tripartite agreement has been signed with the China Harbour Engineering Company (CHEC) to design, finance, construct, and operate the rail line, while the Lagos Metropolitan Area Transport Authority (LAMATA) will supervise and manage operations after completion.
LAMATA had earlier released a detailed video presentation in April 2025, outlining the project’s route, design, and financing structure.
Urban planners have applauded the initiative, describing it as a transformational step for Lagos. However, some raised concerns about station spacing, particularly between Victoria Island and Lekki Phase 1, warning that longer distances between stops could limit access for daily commuters.
Experts also recommended adding more stations in high-density areas and integrating the Green Line with other existing rail lines for seamless movement across the city.
For many residents along the Lekki-Epe axis, the Green Line represents a long-awaited solution to chronic traffic gridlock, where daily commutes between Lekki and Lagos Island often take up to four hours.
While some fear disruptions during construction, the government has pledged to compensate affected residents, minimise diversions, and maintain open communication throughout the process.
“Beyond transportation — it’s about improving lives”
Commissioner Osiyemi emphasised that the Green Line project extends beyond mobility.
“The Green Line is not just about transportation,” he said. “It’s about improving quality of life, creating jobs, and opening up new economic opportunities across the Lekki-Epe corridor.”
Part of the broader Lagos Rail Master Plan are:
The Green Line is part of the Lagos Rail Mass Transit (LRMT) network, which also includes:
The Blue Line (already operational), and
The Red Line (under construction).
In the long term, Lagos plans to establish six integrated rail lines, forming the backbone of a multimodal transport system combining trains, BRT buses, and ferries — a vision that could redefine urban mobility in Nigeria’s commercial hub.
The tension is thick. The stakes are sky-high. And come Tuesday evening, all roads will lead to the Godswill Akpabio International Stadium in Uyo, where Nigeria’s Super Eagles will host Benin in what promises to be a nerve-shredding finale to their 2026 FIFA World Cup qualifying campaign. Kickoff? 6 p.m. sharp.
For some, it’s just another football match. But for Nigerians, it’s more like a national reckoning.
A Do-or-Die Affair in Group C
Here’s the thing — Nigeria don’t have the luxury of playing safe. They sit third in Group C with 14 points, behind South Africa (15) and leaders Benin (17). The math is simple but merciless: the Super Eagles must win. Anything less, and they’ll be watching the World Cup from their couches again — a painful repeat of 2022.
Benin, on the other hand, can almost taste history. A draw would seal their first-ever World Cup appearance. Imagine that — the Cheetahs, who only a few years ago were considered minnows in African football, now standing on the brink of global glory. It’s the stuff underdog dreams are made of.
But football, as we know it, has a funny way of rewriting scripts.
A Group Turned Upside Down
This group’s story has been chaotic, to say the least. Just a few weeks ago, South Africa looked poised to qualify. Then came the FIFA bombshell — a three-point deduction for fielding an ineligible player, Teboho Mokoena, in their 2–0 win over Lesotho. The disciplinary committee stripped Bafana Bafana of their points and handed Nigeria and Benin a fighting chance.
Since then, the tables have turned faster than a winger cutting inside on a counterattack. Benin snatched a crucial 1–0 win over Rwanda last Friday, while Nigeria edged Lesotho 2–0, keeping their faint hopes alive.
Now, with one game to go, it’s anyone’s race.
Current Group C standings:
Benin – 17 points (+5 GD)
South Africa – 15 points (+3 GD)
Nigeria – 14 points (+3 GD)
Rwanda – 11 points (-1 GD)
Lesotho – 9 points (-4 GD)
Zimbabwe – 5 points (-6 GD)
You can almost feel the pressure simmering.
Nigeria’s Emergency Landing Drama
As if the tension wasn’t enough, the Super Eagles had a scare off the pitch. Their plane, en route from South Africa to Uyo, was forced to make an emergency landing in Luanda, Angola, after a loud crack appeared on the windshield mid-flight.
Thankfully, everyone’s safe — but you can’t help but feel it mirrors their World Cup journey so far: turbulence, panic, and yet, a steady resolve to push through.
Benin Already Drew Blood
It’s hard to forget that June 10 clash in Abidjan. Nigeria drew first blood through Raphael Onyedika’s 27th-minute strike, but Benin hit back before halftime. Jodel Dossou and Steve Mounie turned the game around, handing the Cheetahs a famous 2–1 victory.
For Nigeria, that defeat still stings. For Benin, it’s a reminder that they’ve already slayed the giants once — and could do it again.
The Road to 2026: What’s at Stake
CAF’s World Cup qualifying structure this time is brutal but fair. Nine group winners qualify directly for the 2026 World Cup in North America. The four best runners-up, meanwhile, enter a nerve-wracking playoff for one last African slot — potentially the 10th team from the continent.
Five nations — Algeria, Egypt, Ghana, Morocco, and Tunisia — have already booked their tickets. Four more will join them after Tuesday’s final round. Nigeria hope to be one of them.
For context: the Super Eagles have featured in six World Cup tournaments but missed the last one in Qatar. Missing another would sting twice as hard.
The Osimhen Factor – “We’ll Fight”
All eyes will be on Victor Osimhen, Nigeria’s talismanic forward and emotional engine. The Galatasaray striker has returned from injury and will lead the line once more.
His words before the clash hit deep:
“Against Benin, we’ll be underdogs, and they’re favourites. But we’ll fight. This group keeps on giving — it doesn’t stop. Hopefully, it’s our turn to be on top.”
It’s classic Osimhen — raw, emotional, and painfully honest. He knows how much this means, not just to the fans but to the entire nation that lives and breathes football.
Team News: Lookman’s Suspension and Aina’s Absence
Here’s where it gets tricky. Ademola Lookman, the African Ballon d’Or winner and Nigeria’s most consistent performer, is out due to suspension. He picked up his second yellow in the win over Lesotho.
Coach Eric Chele’s 4-2-3-1 setup will now lean heavily on Osimhen’s movement and Chukwueze’s creativity on the flanks. Wilfred Ndidi and Alex Iwobi will handle the midfield engine, while the defense — without Ola Aina, still recovering from injury — must stay sharp against Benin’s quick transitions.
Benin coach Gernot Rohr, a familiar name to Nigerian fans, knows his opponents inside out — after all, he once led the Super Eagles. His Cheetahs are disciplined, tactically tidy, and fearless in possession.
Expect Rohr to stick with his trusted 4-2-3-1 shape, featuring Steve Mounie up top, supported by Jodel Dossou and Andreas Hountondji. The backline — Ouorou, Verdon, Roche, Tijani — is compact and has conceded just five goals in nine matches.
“It will be a wonderful final in Uyo. It’s in our hands, which is unimaginable when you see Nigeria and South Africa behind us. But all can change in one game.”
A Rivalry Renewed
Nigeria and Benin have clashed 12 times since 2004. The Super Eagles dominate the head-to-head with nine wins, Benin have two, and just one ended in a draw. Yet recent history suggests that the gap is closing fast.
Benin are no longer content being the polite underdog. They’re the confident challenger. And Nigeria? They’re the wounded giant looking to roar again.
The Final Whistle
Tuesday’s showdown isn’t just about goals or tactics — it’s about pride, redemption, and rewriting a narrative. For Nigeria, it’s a chance to remind Africa who they are. For Benin, it’s an opportunity to write their names in the stars.
Who will blink first? You know what — whatever happens, this one’s going down as one of the defining nights of African football.
The Nigerian Army has officially commenced applications for the Short Service Combatant Commission (SSCC) Course 49/2026, inviting qualified and patriotic Nigerians to apply for commission as officers in one of the nation’s most respected military institutions.
In an announcement released by the Army authorities, the online registration portal opened on Thursday, October 9, 2025, and will remain active until Wednesday, November 12, 2025.
Application Open to Civilians and Serving Personnel
The recruitment exercise is open to both serving members of the Armed Forces — including soldiers, ratings, and airmen — as well as civilian applicants who meet the required standards set by the Nigerian Army.
According to the statement, the Short Service Combatant Commission provides an opportunity for individuals who aspire to serve Nigeria through a short-term professional military career.
Eligibility Requirements
Applicants must:
Be Nigerian citizens by birth.
Be between 23 and 27 years old as of January 9, 2026.
Meet the Army’s standards of medical, mental, and physical fitness.
Present a Letter of Attestation from former educational institutions.
Have no criminal convictions or pending disciplinary issues.
For Civilian Applicants
Civilian candidates must submit two letters of attestation from reputable Nigerians — such as a Local Government Chairman or Secretary, or a senior military or police officer not below the rank of Lieutenant Colonel or Assistant Commissioner of Police.
They must also:
Be at least 1.68 metres (male) or 1.65 metres (female) in height.
Hold a minimum of a First Degree (Second Class Lower) or HND (Lower Credit) obtained from a recognised institution not earlier than 2017.
Possess a valid birth certificate or age declaration and a certificate of state of origin.
Provide a NYSC discharge or exemption certificate.
Include the contact details of parents, guardians, and next of kin.
Applicants are also warned against having tattoos or body inscriptions, as such are strictly prohibited.
For Serving Military Personnel
Serving members of the Armed Forces must:
Have completed at least five years of service.
Present a valid military ID card.
Submit recommendation letters endorsed by their commanding officers.
Additionally, all applicants must ensure that they are not members of any cult, secret society, or fraternity, and must not have been dismissed or withdrawn from any military or paramilitary organisation.
Conditions of Service
Successful candidates will undergo training and, upon completion, will be commissioned as Second Lieutenants in the Nigerian Army. Their seniority will be calculated from the commencement date of the training.
The Short Service Combatant Commission runs for 15 years, consisting of an initial 10-year active service period, with the possibility of a 5-year extension upon satisfactory performance.
According to the Army, “SSCC officers may be allowed to convert to the Regular Combatant Commission (RCC), subject to vacancy and the fulfilment of required conditions.”
All officer cadets admitted into the course will sign an acceptance form indicating their consent to the terms and conditions before commissioning.
How to Apply
Interested candidates are to submit their applications online via the official recruitment portal: https://recruitment.army.mil.ng.
Application Steps
Visit the official recruitment portal.
Select the “SSC” option.
Review the conditions of entry for SSCC Course 49/2026.
Click “Apply Now” under the SSC 49/2026 section.
Indicate if you are currently serving or have previously served in the Armed Forces.
New users should click “Sign Up” to create an account (a verification link will be sent to the registered email).
Log in and complete the application form.
Upload all required documents.
Documents to Upload
Recent passport photograph
Educational certificates (primary to tertiary)
Certificate of state of origin
Birth certificate or age declaration
For inquiries or technical assistance, candidates can reach the Army via 08179269294 or 08109999294, available daily between 8:00 a.m. and 6:00 p.m.
A Call to Service
The Nigerian Army urged all eligible Nigerians to seize this opportunity to serve their country, describing the SSCC Course 49/2026 as a pathway to leadership, discipline, and professional growth within the military.
“The Nigerian Army remains steadfast in recruiting qualified, patriotic, and competent officers who are committed to safeguarding Nigeria’s sovereignty and advancing national unity,” the statement concluded.
The Nigerian Exchange Limited (NGX) began the week on a bullish note as renewed investor interest in insurance and industrial stocks pushed the market capitalization higher by ₦465 billion on Monday.
At the close of trading, the market capitalization rose to ₦93.8 trillion, up from ₦93.35 trillion recorded on Friday, while the All-Share Index (ASI) advanced by 729.17 points, or 0.5 per cent, to settle at 147,717.21 points.
Market analysts attributed the positive performance to sustained investor confidence and increased positioning in defensive stocks ahead of third-quarter earnings reports.
Insurance, Industrial Stocks Lead Gains
The day’s uptrend was largely driven by price appreciation in key equities, including Sovereign Trust Insurance, Transcorp Power, Consolidated Hallmark Holdings, Haldane McCall, Custodian Investment, and Stanbic IBTC Holdings.
Sovereign Trust Insurance topped the gainers’ chart, rising 9.97 per cent to close at ₦3.53 per share, while Transcorp Power followed with an 8.92 per cent increase to ₦342 per share.
Similarly, Consolidated Hallmark Holdings appreciated by 7.14 per cent to close at ₦4.50, and Haldane McCall advanced by 6.8 per cent to ₦4.40 per share.
On the flip side, Regency Alliance Insurance led the losers’ chart with a 17.58 per cent decline, closing at ₦1.36 per share. Triple Gee & Co. dropped 9.92 per cent to ₦5.45, while Wema Bank and LivingTrust Mortgage Bank shed 4.51 per cent and 3.85 per cent to close at ₦19.05 and ₦5.00 per share, respectively.
Market activity showed significant improvement across all indicators. A total of 624.58 million shares valued at ₦13.47 billion were exchanged in 31,531 deals, representing a 62 per cent increase in volume, 29 per cent rise in turnover, and 45 per cent jump in deals compared with the previous session.
Consolidated Hallmark Holdings emerged as the most traded stock by volume with 210.46 million shares worth ₦909.65 million, followed by Fidelity Bank, which recorded 47.47 million shares valued at ₦951.82 million. Chams also traded actively with 43.96 million shares valued at ₦191.63 million.
In terms of trade value, MTN Nigeria led with ₦2.62 billion, followed by Zenith Bank (₦1.44 billion), GTCO (₦1.04 billion), Fidelity Bank (₦951.82 million), and Consolidated Hallmark Holdings (₦909.65 million).
Across sectoral indices, the Insurance Index led the rally with a 2.11 per cent gain, followed by the Industrial Index, which rose 0.66 per cent. The Premium Index and Consumer Goods Index also advanced by 0.5 per cent and 0.23 per cent, respectively.
Overall, the NGX maintained a bullish momentum, recording a one-week gain of two per cent, a four-week gain of 5.1 per cent, and a year-to-date return of 43.52 per cent.
Market analysts said the positive sentiment reflects renewed investor optimism, fuelled by anticipation of strong third-quarter corporate earnings and growing appetite for insurance and industrial equities seen as safer investment options amid market volatility.
PalmPay, a leading fintech platform and neobank driving financial inclusion in Nigeria, is joining the global celebration of Customer Service Week 2025 under the theme “Mission: Possible.” The theme reflects the dedication of PalmPay’s customer service team, who are committed to turning every user interaction into a success story.
As part of the week-long celebration, PalmPay offered free health checks to customers who visited its Customer Experience Office in Ikeja, Lagos. The initiative highlights the company’s human centered approach to customer relations, demonstrating empathy and appreciation while enhancing the overall brand experience.
A PalmPay customer receives support at the PalmPay Experience Center in Lagos.
“At PalmPay, our mission is to ensure that every customer receives professional, timely, and responsive support at all times” said Yetunde Abubakar, Customer Service Team Lead at PalmPay. “Customer Service Week gives us an opportunity to celebrate our dedicated agents who go above and beyond daily to deliver seamless 24/7 assistance across all touchpoints; whether online, over the phone, or via in-app chats.”
PalmPay’s unwavering focus on customer satisfaction continues to earn industry recognition. The company was recently honored with the Consumer Friendly Business of the Year (2025) award by the Lagos State Consumer Protection Agency (LASCOPA) and was featured in the 2024 KPMG West Africa Banking Industry Customer Experience Survey for outperforming traditional banks in key areas of service delivery.
These accolades reaffirm PalmPay’s commitment to a customer first culture built on reliability, support and trust. With over 35 million active users and a growing nationwide footprint, PalmPay continues to elevate service delivery while providing tools that make money management easy, rewarding, and accessible for every Nigerian.
One of Nigeria’s most respected evangelists and founder of the Uma Ukpai Evangelistic Association, Rev. Dr. Uma Ukpai, has passed away at the age of 80.
His family confirmed his passing in a statement on Monday, revealing that he died on October 6, 2025. The family described his death as a “glorious transition” from a life of impactful ministry to eternal rest.
Ukpai, a globally acclaimed preacher, teacher, and prophet, devoted over six decades of his life to evangelism, the teaching of the Word, and the demonstration of spiritual power. His ministry touched millions of lives across Nigeria and beyond.
“He was a faithful soldier of the cross who lived for Christ and spread the gospel with passion, humility, and integrity,” the family said.
They added that his teachings, prophetic ministry, and mentorship would remain a source of inspiration to generations of believers. Throughout his lifetime, Ukpai led transformative evangelistic crusades that inspired revival, renewal, and spiritual awakening. He was also known for his dedication to empowering both clergy and laity through training and leadership development.
Beyond the pulpit, Ukpai was celebrated as a loving husband, devoted father, and compassionate mentor who shaped the spiritual lives of many across Nigeria’s Christian community. While mourning his passing, the family expressed gratitude for his legacy of faith and service, noting that though they grieve his physical absence, they rejoice that “he has finished his race and is now resting in eternal glory.”
Details of his funeral arrangements will be announced later, the statement added. Ukpai’s six-decade ministry leaves behind a lasting spiritual, educational, and humanitarian impact through churches, leadership institutes, and community projects that continue to serve millions globally.
His life, the family noted, epitomized the biblical truth in Philippians 1:21 — “To live is Christ, and to die is gain.”
Let’s be honest — deciding where to invest ₦1 million in late 2025 isn’t just about numbers on a spreadsheet. It’s about peace of mind. It’s about making sure your hard-earned cash grows faster than prices rise at the market. With inflation easing to 20.12% as of August 2025, the goal isn’t merely to earn returns — it’s to earn real returns that outpace inflation. Because if your portfolio grows slower than the cost of garri or rent, you’re not really getting richer.
Here’s the thing: investment principles haven’t changed, but the playing field has. The time value of money still matters — ₦1 today is worth more than ₦1 tomorrow. Risk premiums still exist — investors must be compensated for taking on uncertainty. And inflation risk remains the ever-present monster quietly eating away at idle savings.
But beyond the textbooks, every investor must consider something personal: age, goals, and risk appetite. A young professional might stomach volatility for higher gains, while a retiree would rather earn steady income and sleep well at night.
And right now, macroeconomic conditions matter more than ever. Nigeria’s economy has entered a disinflationary phase. The foreign exchange market is stabilizing, global interest rates are easing, and the CBN is busy reshaping the financial system — from recapitalizing banks and insurers to taking over the fixed-income settlement platform from FMDQ. All these moves set the stage for how assets will behave in the final quarter of 2025.
Equities: The Comeback Kid of 2025
Let’s start with the stock market. When the Central Bank of Nigeria trimmed the Monetary Policy Rate (MPR) from 27.5% to 27%, it quietly sent a message — the tide is turning. Lower policy rates mean cheaper borrowing and less attractive returns on fixed-income securities. In other words, investors start hunting for better yields elsewhere — and that’s where equities come in.
The numbers tell the story. Recent Treasury Bill stop rates — around 15% to 16.78% — are still below inflation. Real returns? Negative. Meanwhile, the Nigerian stock market is buzzing with optimism: over 99 stocks have delivered year-to-date (YtD) gains above inflation. That’s no small feat.
When interest rates fall, companies pay less in interest expenses, freeing up profits. Consumer goods, industrials, ICT, and conglomerates could all see healthier bottom lines heading into Q4. That’s where savvy investors should start paying attention.
Consumer Goods: The Silent Revival
You probably remember how rough 2024 was for consumer goods — inflation, high interest rates, and FX instability took a toll. But 2025 has been a quiet comeback year. Only one laggard remains among the 20 component stocks in the sector, signaling broad resilience.
If you already hold positions here, it might make sense to keep them. If not, there’s still time to get in — especially on stocks trading below their 52-week highs. Take Honeywell Flour for instance — it’s up an eye-catching 258% YtD, yet still 40% below its previous peak. Or Northern Nigeria Flour Mills, currently about 30% off its high. Those gaps may present entry opportunities before the next rally.
Dividends: The Sweet Cushion Against Volatility
Market volatility is a given. That’s why dividend-paying stocks remain investor favorites. They not only deliver consistent income but also serve as a cushion when markets wobble.
Companies like Seplat, Okomu Oil, Presco, Skye Shelter Fund, Dangote Cement, and Airtel Africa have maintained reliable dividend histories. For context, Okomu Oil’s recent ₦30 per share interim dividend means a holder of 10,000 shares walks away with ₦300,000 in cash. That’s not pocket change.
And let’s not forget liquidity — the ability to buy or sell quickly without distorting prices. Here, banking stocks lead the pack, thanks to their large trading volumes and active investor participation. They’re not just liquid; many are also consistent dividend payers, a double win for income seekers.
Fixed Income: Safety Never Goes Out of Style
Now, not everyone wants to stomach stock-market swings — and that’s okay. Fixed-income instruments like Treasury Bills, Federal Government Bonds, and Savings Bonds remain vital for preserving capital. Sure, yields may still trail inflation, but they bring predictability and peace of mind.
The only hiccup? Entry thresholds. Primary issues often start above the ₦1 million mark, making them less accessible to smaller investors. But there’s a workaround: secondary markets or mutual funds focused on fixed-income assets. These vehicles pool funds from multiple investors, allowing smaller players to benefit from institutional-grade instruments.
Then there’s Commercial Paper (CP) — short-term corporate debt issued by top-tier firms. Many currently yield around 22%, paid upfront. That’s immediate cash in hand for reinvestment — perfect for those who love compounding. Again, minimum investment amounts might be high, but CP-focused money market funds provide a simpler entry point.
Alternative Assets: Diversify or Be Left Behind
If 2025 has taught investors anything, it’s that diversification isn’t optional. Alternative assets are the new playground — from commodities and gold to cryptocurrencies, ETFs, derivatives, and real estate investment trusts (REITs).
Gold, for instance, has been on fire — up over 50% YtD. It’s a classic inflation hedge and a handy diversifier when financial markets turn choppy. REITs, on the other hand, offer real estate exposure without the hassles of owning physical property — rent income without being a landlord.
Of course, alternative assets can be volatile, and they require research (or professional advice). But ignoring them entirely could mean missing out on a vital layer of protection against inflation and currency risk.
Putting It All Together: The ₦1 Million Playbook
So, how should you structure your ₦1 million? There’s no one-size-fits-all formula, but here’s a balanced mix that considers risk, growth, and inflation protection:
60% Equities – Focus on dividend-paying and liquid stocks in consumer goods, industrials, and banking.
25% Fixed-Income Funds – For safety, stability, and consistent income.
This setup doesn’t just chase high returns; it ensures your money works efficiently across sectors. You get growth potential, steady income, and inflation protection — all in one balanced portfolio.
The Bottom Line
The last quarter of 2025 will likely reward those who stay nimble. Interest rates are easing, inflation is moderating, and corporate earnings are improving. It’s not a time to be reckless, but it’s certainly not a time to sit idle either.
Whether you’re a cautious saver or a calculated risk-taker, the message is clear: don’t let inflation quietly erode your future. Build a portfolio that breathes with the economy — part safety, part growth, part hedge. Because when your ₦1 million starts earning real returns, that’s when investing stops being stressful and starts being satisfying.
You ever wonder how a country like Nigeria, with all its oil riches and bustling markets, ends up owing more than it seems possible? Well, as of June 2025, our public debt has ballooned to a staggering N152.4 trillion. That’s not just a number—it’s a signal of deeper economic currents that affect everything from business investments to everyday prices at the market. For folks in boardrooms or starting their own ventures, understanding this debt isn’t optional; it’s key to navigating what’s next.
Let’s break it down without getting too tangled in the jargon. Public debt is basically what the government borrows to keep things running—think infrastructure projects, salaries, or plugging budget holes. And right now, it’s at its highest in naira terms ever. Compared to March 2025, when it sat at N149.39 trillion, that’s a jump of about 2%. In dollars, it’s up to around $99.66 billion from $97.24 billion. Not drastic, but steady enough to raise eyebrows among investors watching exchange rates like hawks. Honestly, seeing the trend line creep up year after year makes you pause— is this sustainable, or are we heading for rough waters?
Here’s the thing about debt—it’s not all the same. Nigeria’s pile splits roughly into domestic (what we owe within our borders) and external (loans from abroad). Domestic debt makes up the bigger chunk at N80.55 trillion, or about 53% of the total. That’s up from N78.76 trillion just three months earlier. Why the rise? Governments often turn to local borrowing because it’s quicker and avoids currency risks. But it crowds out private businesses vying for the same funds—imagine banks lending to the feds instead of your startup.
On the flip side, external debt stands at N71.85 trillion, or $46.98 billion. This grew from $45.98 billion in March, thanks partly to naira fluctuations. External loans come with strings, like interest rates tied to global moods. Remember the naira devaluation back in 2023? Echoes of that still amplify these costs, making repayment feel like chasing a moving target. To put it in perspective, here’s a quick snapshot:
Diving a bit deeper—okay, not too deep, but enough to see the mechanics—domestic debt isn’t one big loan. It’s a mix of instruments that sound fancy but are straightforward once explained. To make it clearer, let’s lay it out in a table:
FGN Bonds
36.52
Securitized Ways and Means
22.72
Treasury Bills
12.76
Sukuk Bonds
1.29
Savings Bonds
0.09
Green Bonds
0.06
Promissory Notes
1.73
Dollar-Denominated Bonds
1.40
Total Domestic
80.55
FGN bonds lead the pack at N36.52 trillion. These are like IOUs the government issues to investors, promising steady returns. Then there’s N22.72 trillion from securitized Ways and Means advances—essentially, turning central bank overdrafts into proper debt. It’s a way to formalize what was once emergency borrowing.
Treasury bills chip in N12.76 trillion; these short-term notes are popular with banks for their quick turnaround. Sukuk bonds, which are Sharia-compliant and often fund roads or bridges, add N1.29 trillion. Smaller bits include savings bonds at N91.53 billion (aimed at everyday savers), green bonds for eco-friendly projects at N62.36 billion, and promissory notes at N1.73 trillion. Oh, and don’t forget the N1.40 trillion in dollar-denominated bonds, blending local and foreign flavors.
It’s a diverse portfolio, sure, but the reliance on bonds and bills means interest payments are eating into budgets. In Q2 2025 alone, domestic debt service hit N1.7 trillion, peaking at over N800 billion in April. That’s money that could go toward schools or hospitals, right? Yet, in a twist, this setup stabilizes the naira somewhat by keeping funds circulating locally.
Who Holds the IOUs Abroad? External Creditors Unpacked
Shifting gears to the external side— this is where international players come in, and it’s fascinating how it mirrors global ties. Multilateral lenders dominate with $23.19 billion, nearly half of external debt. Think World Bank or African Development Bank; they offer concessional loans with lower interest, often for development projects like power grids or agriculture. It’s helpful, but dependency on them highlights Nigeria’s challenges in accessing cheaper market funds.
For a breakdown:
Multilateral
23.19
49%
Bilateral
5.66
12%
Eurobonds
17.13
36%
Other Commercial
1.00
3%
Total External
46.98
100%
Bilateral creditors—government-to-government deals—hold $5.66 billion, about 12%. Countries like China or France might be involved here, funding big-ticket items like railways. Then there’s the commercial slice: Eurobonds at $17.13 billion (36% of external), which are riskier because they’re market-driven. Nigeria’s been issuing these since 2011, but with global rates rising, servicing them stings. Other commercial loans add $1 billion.
Honestly, this mix feels like a high-wire act. Eurobonds expose us to investor whims—if oil prices dip or geopolitics flare, yields spike. But multilateral funds provide a buffer, often with advice on reforms. It’s a mild contradiction: borrowing more to grow, yet risking stagnation if debt service overwhelms revenues.
The Subnational Angle: States and FCT in the Mix
Don’t overlook the states—they’re part of this too. Combined, the 36 states and Federal Capital Territory owe N11.32 trillion, or 7.4% of total public debt. Of that, external is $4.81 billion (N7.36 trillion), and domestic N3.96 trillion. Lagos or Rivers might borrow for mega-projects, but smaller states lean on federal allocations. This decentralization adds complexity; if states default, it ripples nationally.
You know what? This subnational debt grew slightly from N3.86 trillion domestic in March, showing governors are tapping markets amid revenue squeezes. It’s relatable— like a family where everyone chips in but the parents carry most.
What Does This Mean for the Economy?
So, why should executives or entrepreneurs care? Debt isn’t inherently bad; it’s fuel for growth if used wisely. But Nigeria’s trajectory raises flags. Debt-to-GDP ratio hovers around 40-50%, not alarming by global standards (think Japan’s 250%), but servicing costs are the real kicker. With revenues strained—oil still dominates despite diversification talk—paying interest crowds out investments.
Take private sector credit: It dipped to N76.12 trillion in June 2025, the fourth decline this year. Banks prefer safe government bonds over risky business loans, starving startups. Add inflation and forex woes, and it’s a tough environment. Yet, there’s optimism—FAAC disbursements are up, and reforms like subsidy removal aim to boost non-oil revenues.
Picture it like this: Debt is the bridge over a river of deficits, but if the bridge gets too heavy, it sags. Policymakers are pushing for better tax collection and export growth, referencing tools like the Nigeria Customs Service’s modernized systems or AfCFTA opportunities. Seasonal factors play in too—with harvest season wrapping up, agricultural exports could ease pressures.
Looking Ahead: Can We Turn the Tide?
Wrapping up, Nigeria’s N152.4 trillion debt as of June 2025 is a wake-up call, not a death knell. It’s grown, yes, but so has the economy in nominal terms. The key is sustainability—ensuring borrowings fund productive assets, not just consumption. Investors, keep an eye on DMO reports; they’re gold for spotting trends.
Rhetorically, are we borrowing our way to prosperity or digging a hole? Time will tell, but with smart reforms, we might just climb out stronger. For now, it’s about balance—leveraging debt without letting it leverage us.
The Academic Staff Union of Universities (ASUU) has announced its readiness to resume negotiations with the Federal Government, raising hopes for an end to the ongoing strike that has paralyzed activities in public universities.
ASUU President, Prof. Chris Piwuna, made this known on Monday during an interview on Channels Television, where he reaffirmed that the union remains open to dialogue as the only sustainable path to resolving the protracted crisis.
The union had, on Sunday, declared a two-week comprehensive strike, halting academic work nationwide over unresolved issues that have lingered for years.
While the government insists it has met ASUU’s major demands and branded the strike “unjustified,” it also threatened to enforce a “no work, no pay” policy against lecturers who refuse to return to work.
The Nigeria Labour Congress (NLC), however, condemned the government’s position, warning that such measures would stifle fair negotiation and undermine workers’ rights to collective bargaining.
Despite the tension, Piwuna revealed that the union had received positive signals from senior government officials indicating a willingness to return to the negotiation table.
“Earlier today, I got a call from Alhaji Yayale Ahmed, the chairman of the government’s negotiation team, expressing readiness to resume discussions. I also received a call from the Minister of State for Labour, who confirmed she’s been directed to step in and facilitate dialogue. ASUU is ready. We are prepared to engage and find lasting solutions,” he stated.
He added that the union expected formal communication from the Implementation and Labour Monitoring Committee by Tuesday, stressing that ASUU would immediately honour any invitation for talks. “My understanding is that between tonight and tomorrow, we will receive an official letter for a meeting. Once that happens, ASUU will be there. We are ready and willing to talk,” Piwuna affirmed.
The ASUU president also reiterated that the strike was a last resort, not a first option, emphasizing that the union’s ultimate goal was to restore stability and quality to Nigeria’s higher education system. “Strike is never our preferred choice. It’s always a last measure to demand what is right,” he said.
Responding to the Minister of Education’s recent claim that all issues with ASUU had been resolved, Piwuna questioned the logic behind new meeting invitations.
“If the government insists everything is settled, then why are they calling for another round of talks? Have the 2009 agreements been implemented? Are our colleagues in state universities like LASU and Kogi State University still not facing victimization?” he queried.
Piwuna concluded by stressing that both lecturers and students remain victims of government inaction, and ASUU’s struggle is aimed at saving public education from further decay.
Nigeria’s next presidential and governorship elections could be conducted in November 2026, as the National Assembly has proposed moving the polls six months earlier than usual.
The plan was unveiled on Monday during a public hearing jointly organized by the Senate and House Committees on Electoral Matters in Abuja. The proposal, contained in the Electoral Act (Amendment) Bill 2025, seeks to guarantee that all election petitions are resolved before the May 29, 2027 handover date.
According to the draft bill, “Elections into the office of the President and Governor of a State shall be held not later than 185 days before the expiration of the term of office of the last holder of the office.”
This amendment would effectively place the 2027 general elections around November 2026, approximately six months before the end of the current administration’s tenure.
Hon. Adebayo Balogun, Chairman of the House Committee on Electoral Matters, said the change aims to ensure that all litigations arising from elections are concluded before the swearing-in of elected officials.
He revealed that the National Assembly intends to amend Sections 285 and 139 of the 1999 Constitution to shorten timelines for election petitions—reducing tribunal verdicts from 180 to 90 days and appellate court rulings from 90 to 60 days. The entire judicial process, he noted, would not exceed 185 days.
Other key highlights of the proposal include early voting privileges for certain categories of Nigerians—such as security personnel, INEC staff, accredited journalists, and election observers—at least 14 days before the main polls.
The bill also proposes to make electronic transmission of results mandatory, with stiff penalties for officials who fail to comply.
Under the proposed Section 60(5), “The Presiding Officer shall transmit the results, including the total number of accredited voters, to the next level of collation both electronically and manually.”
Electoral officers who issue unstamped ballot papers or unsigned result sheets could face up to one year imprisonment or a ₦1 million fine.
Stakeholders, including representatives from the Independent National Electoral Commission (INEC) led by Prof. Abdullahi Zuru, expressed strong support for the bill, noting that electronic transmission would strengthen transparency and credibility in Nigeria’s electoral process.
In July, a related proposal to conduct all Nigerian elections on the same day in 2027 had drawn mixed reactions. While opposition parties such as the PDP, Labour Party, ADC, and NNPP backed the idea, the ruling APC rejected it, warning of logistical and political complications.
The initiative, driven by the House Committee on Constitution Review chaired by Deputy Speaker Benjamin Kalu, emerged from nationwide consultations across Nigeria’s six geopolitical zones.
If enacted, the amendment would mandate INEC to conduct presidential, governorship, National Assembly, and state assembly elections on the same day, a reform expected to reduce election costs and minimize post-election ripple effects.
The chicken moves forward one step. Then the multiplier turns green, or the chicken is roasted.
You can then choose whether you want to cash out (Cash Out) or move forward (Go).
This continues until you cash or lose.
Before you start playing, we always recommend reading the rules. This way, you’ll know exactly what you’re getting into. If you’re exploring non-GamStop casinos UK, it’s especially important to understand how these platforms operate. To help you get started, we’ve compiled a list of important statistics.
Minimum and maximum bet
Chicken Road has a very wide betting range. You can bet from €0.01 per round up to a maximum of €150 per round. This makes the game ideal for both low-rollers and high-rollers. Even with an account balance of €0.10, you can play at least ten games!
Volatility
Most games have either high or low volatility. This indicates the risk. When you play Chicken Road, you determine your own risk level. You can choose from four levels:
Easy
24
Low
1 in 25
Medium
22
Medium
3 out of 25
Hard
20
High
5 out of 25
Hardcore
15
Extremely high
10 out of 25
The harder the level, the more money you can earn per step. The multiplier is therefore higher, but the chance of a roasted chicken is also greater. We tried Chicken Road five times with hardcore volatility. We never got past the third step. So, you can win more money with high volatility, but the chance of an early crash is also high.
This is how much money you can win
Depending on the chosen volatility, each step yields a multiplier. The table below provides an overview of the different levels, steps, and corresponding multipliers. We’ve omitted some intermediate steps for clarity. The multiplier in bold represents the maximum win per level.
1
1.03x
1.12x
1.23x
1.63x
2
1.07x
1.28x
1.55x
2.80x
3
1.12x
1.47x
1.98x
4.95x
10
1.63x
4.96x
15.21x
890.19x
15
2.45x
15.99x
172.42x
2,542,251.93x
20
4.90x
182.51x
41,321.43x
n/a
22
6.61x
1,788.80x
n/a
n/a
24
19.44x
n/a
n/a
n/a
Pros and cons of Chicken Road
We discuss the main advantages and disadvantages of Chicken Road.
Advantages
Mega exciting game
Easy to understand
Determine the volatility yourself
RTP of 98%
Maximum win 2.5 million x the stake
Disadvantages
Fast off in high volatility
Strategies for Chicken Road
There’s no strategy that guarantees you a win on Chicken Road, or any other chicken game. It’s a shame, but understandable. After all, it’s still a casino game. You can, however, devise a strategy that makes playing more enjoyable for you. For example, one of the following strategies:
Start with low volatility to minimize the risk of loss. Cash in early. Try to gradually build your balance this way. Then, use only your winnings to continue playing with high volatility. This way, you can try to make a profit while limiting your risk.
Some chicken games offer you the option to cash out half. You can choose to cash out half after you’ve recouped your stake. This limits your risk. Keep in mind, however, that you might also crash sooner.
Helpful game tips for Chicken Road
Playing at a Chicken Road casino is incredibly exciting. The game almost always gives you the feeling that there’s just a little bit more to it. You have to learn to deal with that. To help you get started, we have compiled a list of helpful tips. These tips apply not only to Chicken Road, but also to other chicken game games with the same thrill.
Set a goal before you start. For example: If I have €5, I’ll cash out.
Use the auto cash-out feature. This way, you won’t have to wait longer than planned.
Keep a cool head. Don’t let other players or success stories get to you.
Play in short sessions. This way you stay sharp and avoid mistakes.
Try a few rounds without playing first. Get used to the rhythm of the game.
There are many casino games where the tension of “going or going” is central. Do you have nerves of steel? Or are you a “chicken” who cashes in way too fast? We’ll show you a few variations of these games that offer the same feeling as Chicken Road.
Aviator
Crash game
Multiplier rises until it crashes
Spaceman
Crash game
Option to partially cash out during space travel
Cash or Crash
Live game
After each green ball you choose whether to stop or continue to the next round
Money Train 3
Bonus Buy slot
Bonus games can pay out huge…or nothing
Crazy Time
Live game show
Additional rounds with risks
Other Chicken-themed games
Speaking of chickens, there are plenty more casino games featuring chickens. Anyone who thinks chickens have no business being in a casino has clearly never played one of these crazy slots. Most of the games aren’t too serious, but they do provide a healthy dose of casino excitement.
One of the most popular titles is Chicken Drop from Pragmatic Play . This colorful slot literally rains giant eggs that activate wilds or multipliers. We’ve listed a few games for you.
The Nigerian naira depreciated slightly against the US dollar on Monday, closing at ₦1,457.51 per dollar at the official foreign exchange (FX) market, representing a 0.16% decline from Friday’s rate.
The downward movement in the local currency came as dollar demand outpaced supply across trading platforms, reflecting renewed pressure in the FX market. Analysts attributed the slide to limited dollar liquidity despite earlier signs of stability last week.
Market data showed that the naira had earlier strengthened on the back of improved foreign inflows, with the local unit closing at ₦1,455.17/$ on Friday. That performance was largely supported by a combination of increased remittances, stronger oil receipts, and portfolio inflows that helped ease demand pressure.
Meanwhile, the Central Bank of Nigeria (CBN) reported an uptick in the nation’s external reserves, which rose to $42.589 billion. The growth in reserves has been attributed to sustained CBN interventions, robust oil export revenues, and rising foreign investments in Nigerian financial instruments.
Market observers believe the recent reserve build-up provides the apex bank with more leverage to manage short-term exchange rate volatility and maintain stability in the FX market over the coming weeks.
However, the commodities market showed weakness on Monday as crude oil prices slid following the Israel–Hamas ceasefire, which eased geopolitical risks and removed the conflict-driven risk premium from the market.
Brent crude futures settled at $64.90 per barrel, while West Texas Intermediate (WTI) dropped to $61.28 per barrel amid growing concerns of oversupply, especially with the Organization of the Petroleum Exporting Countries (OPEC) gradually rolling back production cuts.
Nigeria’s Bonny Light crude also fell by 4.66%, closing at $69.94 per barrel. Analysts have warned that sustained low oil prices could exert fiscal pressure on the government and reduce foreign exchange earnings, which remain critical to the stability of the naira.
In the near term, financial experts expect the naira to remain relatively stable, buoyed by steady FX inflows and CBN’s continued market interventions. Nonetheless, they cautioned that increasing import demand or weaker foreign inflows could slow the currency’s recovery momentum.
While oil prices may remain subdued due to elevated supply levels, a rebound in global demand could provide some relief for Nigeria’s external accounts and support confidence in the domestic currency. Still, volatility in the international oil market may keep investors on edge in the coming weeks.
The adoption of a single foreign exchange rate for public and private sector transactions by the Central Bank of Nigeria (CBN), FMDQ and banks has boosted monthly turnover by 94 per cent.
You know, forex trading has this magnetic pull—it’s like the stock market’s more global, round-the-clock cousin, where currencies dance to the tune of world events. Picture this: trillions of dollars swapping hands daily, from Tokyo’s early birds to New York’s night owls.
But if you’re a professional dipping your toes in, or an entrepreneur eyeing extra revenue streams, jumping in without a plan is like sailing without a compass. Chaos ensues. So, what should you really note when starting out? Let’s break it down, step by step, with a mix of hard facts and those gut-check moments that make trading feel alive.
Honestly, the forex market isn’t just about quick wins; it’s a marathon laced with sprints. Back in the day, only big banks played this game, but now, with apps and online platforms, anyone with a laptop can join. Yet, that accessibility hides some sharp edges. Did you know that over 70% of retail traders lose money? Yeah, sobering stat from regulators like the CFTC. But don’t let that scare you off—it’s more about preparation than luck.
First Things First: Grasp the Fundamentals
Before you even think about placing a trade, get cozy with the basics. Forex, short for foreign exchange, is all about buying one currency while selling another. Think EUR/USD—that’s euros against dollars. The value shifts based on economic news, interest rates, even geopolitical tensions. Remember when Brexit sent the pound tumbling? Events like that create ripples, or sometimes tsunamis, in the market.
Start simple: learn the lingo. Pips are the tiniest price moves, lots are your trade sizes, and leverage? That’s borrowed money from your broker to amp up positions—handy, but risky if markets turn sour. I like to compare it to using a credit card for investments; it magnifies gains but can wipe you out faster than a bad bet in Vegas.
And here’s a tip: don’t skip the economic calendar. Tools like those from Investing.com or Forex Factory highlight upcoming data releases—non-farm payrolls, anyone? These can swing pairs by hundreds of pips. As an executive scanning markets for business impacts, tying forex moves to your industry’s supply chains could give you an edge. For instance, if you’re in imports, a stronger dollar means cheaper goods abroad. Makes sense, right?
Check spreads and commissions—tight spreads mean less cost per trade. And demo accounts? Gold. Practice without real cash burning a hole in your pocket. Platforms like MetaTrader 4 or 5 are industry staples; they’re user-friendly with charts that make analyzing trends feel almost intuitive. But watch for hidden fees—swap rates for overnight positions can add up.
A quick digression: ever wondered why some brokers offer insane leverage, like 1:500? It’s tempting for big swings, but regulators cap it in places like Europe to protect folks. As an investor, balance that with your risk appetite. If you’re bootstrapping a startup, maybe stick to conservative levels to avoid sleepless nights.
Education isn’t optional; it’s your shield. Dive into free resources—Babypips.com has a killer beginner course that’s straightforward and fun. Books like “Trading in the Zone” by Mark Douglas tackle the mental side, which we’ll circle back to.
Develop a strategy. Are you a scalper, snagging quick pips, or a swing trader holding for days? Test on demos. Use technical analysis—moving averages, RSI for overbought signals—or fundamentals like GDP reports. Mix them for hybrid approaches. And journaling? Log every trade; it’s like a post-mortem for your decisions.
For academics or policymakers reading this, think of forex as a real-time economic lab. Trends here often foreshadow broader shifts—rising yen might signal global risk aversion. Students, simulate trades in class; it’s hands-on learning that beats textbooks.
The Art of Risk Management: Don’t Bet the Farm
Here’s the thing—risk management separates pros from amateurs. Never risk more than 1-2% of your capital per trade. Stop-loss orders? Non-negotiable; they cut losses automatically. Position sizing matters too—calculate based on account size and volatility.
Diversify pairs; don’t put all eggs in one basket like GBP/USD during elections. And leverage—use it wisely. High leverage is like driving a sports car on ice; exhilarating until it isn’t.
Emotional cues creep in here. That knot in your stomach when a trade goes south? Listen to it, but don’t let fear paralyze you. Set rules and stick to them. Investors know this from portfolio management—it’s all about preserving capital for the long haul.
Navigating the Psychological Maze
Trading psychology—ah, the underrated beast. Greed pushes you to overtrade; fear makes you exit winners too early. FOMO? Real in forex, especially with social media hype. Platforms like TradingView have communities, but beware echo chambers.
Build discipline. Meditate, exercise—sounds fluffy, but it sharpens focus. Journal emotions alongside trades. As an entrepreneur, treat trading like running a business: systematic, not impulsive.
A mild contradiction: some say trade emotionless, like a robot. But humans aren’t bots; channel emotions productively. Explain? Use them as signals—excitement might mean overconfidence, prompting a double-check.
Sidestepping Common Pitfalls
Newbies often chase losses, averaging down on losers. Bad idea; it compounds pain. Overtrading? Exhausting and costly. Ignore news at your peril—black swan events like COVID crashes blindside the unprepared.
And taxes—don’t forget them. In many places, forex gains are taxable. Consult pros; tools like TurboTax have guides.
Tie in current trends: with AI bots entering trading, like those from QuantConnect, beginners can automate strategies. But understand the code first; blind reliance is risky.
Wrapping It Up: Your Forex Journey Awaits
Starting forex trading? It’s thrilling, demanding, and potentially rewarding. Arm yourself with knowledge, a solid broker, ironclad risk rules, and mental fortitude. Whether you’re an executive hedging business risks or a curious student, approach it methodically.
Remember, success isn’t overnight—it’s built trade by trade. Start small, learn continuously, and who knows? You might just turn those currency fluctuations into your advantage. What’s your first move going to be?
