By Aduragbemi Omiyale

Subscription for the Federal Government of Nigeria (FGN) savings bonds for April 2026 has opened, a circular from the Debt Management Office (DMO) on Tuesday, April 7, 2026, confirmed.

The debt office is selling the retail debt instrument for this month in two tenors of two years and three years.

Offer for the savings bonds opened today and will close on Friday, April 10, 2026, a part of the disclosure stated.

The 2-year FGN savings bond due April 15, 2028, is being sold at a coupon rate of 13.082 per cent per annum, while the 3-year FGN savings bond due April 15, 2029, is being sold at a coupon rate of 14.082 per cent per annum.

The interests are paid every quarter, and the bullet repayment to subscribers on the maturity date.

The bonds are sold at N1,000 per unit, subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.

Interested investors are required to reach out to the stockbroking firms appointed as distribution agents by the DMO via the agency’s website.

An FGN savings bond qualifies as securities in which trustees can invest under the Trustee Investment Act. It also qualifies as government securities within the meaning of the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA) for tax exemption for pension funds, amongst other investors, meaning it is tax-free.

It can be used as a liquid asset for liquidity ratio calculation for banks, and is listed on the Nigerian Exchange (NGX) Limited to allow for easy exit (liquidation) before maturity by selling at the secondary market.

By Adedapo Adesanya

Oil prices climbed on Monday’s short trade as the United States and Iran threatened more attacks, ​as the two countries are engaging in indirect talks that could lead to the de-escalation of hostilities.

Brent crude futures settled at $109.77 ‌a barrel after chalking up 74 cents or 0.68 per cent, while the US West Texas Intermediate (WTI) crude futures traded at $112.40 after growing by 87 cents or 0.78 per cent.

The US and Iran received a framework from ​Pakistan to end hostilities, but this was rejected by Iran, especially the idea of immediately reopening the strait after President Donald Trump threatened to ⁠rain “hell” on the nation if it did not make a deal by the end of Tuesday.

Iran said ​it had formulated its positions and demands in response to recent ceasefire proposals conveyed via intermediaries.

The US is eyeing an agreement to open the crucial Strait of Hormuz, the shipping artery used by one-fifth of the world’s oil and gas supply, but the strait, which carries oil and petroleum products from Iraq, Saudi ​Arabia, Qatar, Kuwait and the United Arab Emirates, remains largely closed due to Iranian attacks on shipping after the U.S.-Israel attacks began on February 28.

Some vessels, however, including ​an Omani-operated tanker, a French-owned container ship and a Japanese-owned gas carrier, have passed through the strait since Thursday.

Meanwhile, major oil consumers, ​particularly in Asia, are conserving barrels or cutting consumption in response to the closure of the strait.

The Middle East supply disruptions have led refiners to seek alternative sources for crude, particularly for physical cargoes in the US and Britain’s North Sea.

Indian refiners have also postponed maintenance shutdowns of their units to meet local fuel demand.

On Sunday, the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed to a modest rise ​of 206,000 barrels per day for May. However, this will only appear on paper as the disruption is limiting the ability of the top producers to add the needed output.

OPEC’s combined oil output losses for March were estimated at 7.2 million barrels daily. The biggest production cuts were made by Kuwait, Iraq, the United Arab Emirates, and Saudi Arabia, for a total OPEC output of 21.57 million barrels daily for March. This is the lowest OPEC production rate since June 2020.

By Adedapo Adesanya

The owner of the $20 billion Dangote Refinery, Mr Aliko ​Dangote, said on Monday that the facility has increased exports of premium motor spirit (PMS), otherwise known as petrol, and urea to African countries hit by supply disruptions caused by the Iran war.

Speaking during a tour of the refinery on the edge of commercial capital Lagos, Mr Dangote said the refinery, which is operating at ​its maximum capacity of 650,000 barrels a day, had helped ⁠cushion the full impact of the crisis both in Nigeria and across ​the continent.

“What I can do is assure Nigerians … and most of West Africa, ​Central Africa, and East Africa, we have the capacity to supply them,” he said, as per Reuters.

The businessman further said the ​facility had shipped some 17 cargoes of gasoline to other African nations, ​and exports of urea fertiliser had also recently risen, as buyers sought alternative sources of ‌supply.

“In ⁠the last couple of days, we’ve been looking to mostly African countries, which we were not doing before,” he said, referring to the fertiliser shipments, without giving figures.

The refinery has the capacity to produce up to 3 million metric ​tons of urea ​annually, most of ⁠which is typically exported to the United States and South America, officials say.

Mr Dangote said the refinery hoped to get more crude cargoes to help curb rising fuel costs under the Crude-for-Naira initiative of the Nigerian government.

Last week, the Nigerian National Petroleum Company (NNPC) Limited allocated seven May cargoes for the refinery, ​up from five in previous months.

The majority of Nigeria’s crude production is tied to Joint Venture (JV) contracts, which constrain the optimal supply of crude oil to the Dangote Refinery. This increase in crude allocations to the 650,000 barrel per day refinery could curb volumes of Nigerian crude available for export at a time when ​the Iran war has drastically cut supply from the Middle East.

The company is still purchasing crude at international benchmark prices from Brazil, Equatorial Guinea, Angola, Algeria, and the US, among others.