The treasury bills auction conducted by the Central Bank of Nigeria (CBN) on Wednesday at the primary market received significant interests from investors, results of the exercise analysed by revealed.

It was observed that 364-day tenor was the most attractive, forcing the apex bank to slice the stop rate by 0.61 per cent to 17.82 per cent.

Details of the sales indicated that the central bank approached the market with N500 billion worth of the maturity, but it got bids valued at N1.8 trillion from investors, showing a strong appetite.

However, only N717.97 billion was allotted by the CBN at the close of the PMA. At the previous exercise, the 12-month paper cleared at 18.43 per cent.

Also, the central bank tampered with stop rate of the 182-day treasury bills during the session, cut by 0.25 per cent to 17.75 per cent from the previous 18.00 per cent.

This action was taken despite the tenor not experiencing an oversubscription like the long-dated bill.

reports that N80.00 billion worth of the six-month maturity was brought to the market for sale but investors submitted bids valued at N60.05 billion, with N50.95 billion approved by the apex bank.

But the stop rate of the 91-day instrument was left intact by the central bank at 17.00 per cent at the exercise.

About N70.00 billion worth of the three-month T-bills were auctioned on Wednesday, but the bids received were just N62.57 billion, with N61.52 billion allotted at the end of the exercise.

From the analysis, the CBN auctioned a total of N650 billion treasury bills during the PMA, but it got bids valued at N1.92 trillion, and allotted N830.44 billion.

Over N402.3 billion was paid in taxes in 2024 by Dangote Industries Limited (DIL) as part of its efforts to support the federal government.

The taxes were paid by the subsidiaries of the pan-African conglomerate comprising Dangote Cement, NASCON, Dangote Packaging Limited among others.

Recall that Federal Inland Revenue Service (FIRS) had in late 2024 recognised DIL and its subsidiary, Bluestar Shipping as the most tax compliant organizations in the country during its Special Day at the 2024 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).

The FIRS is the agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.

The N402.3 billion paid by DIL last year made the company the highest taxpayer in the country.

Speaking during a meeting with some senior media executives in Lagos, the Chief Branding and Communication Officer of Dangote Group, Mr Anthony Chiejina, as a responsible business organisation, DIL and its subsidiaries have never shied away from its obligations either to the government in the form of tax payment at all levels or to host communities in the form of Corporate Social Responsibility (CSR).

According to him, the group’s corporate strategy has evolved just as its businesses have grown, matured and diversified into new sectors and regions over the last four decades, noting that Dangote Group has almost single-handedly taken Nigeria to self-sufficiency in cement and refined petroleum products and is expanding rapidly across Africa.

Dangote Group and its subsidiaries were recognised as number one most compliant in tax payment in the country, just as the cement business at another occasion won three awards at the FMDQ Gold Awards in Lagos as the most active business in the Foreign Exchange market.

Dangote Cement Plc was adjudged as the Largest Commercial Paper Quotation on FMDQ and Single Largest Corporate Debt Issue on FMDQ. Also, Dangote Industries Ltd also emerged as the “Most active corporate in the foreign exchange market”.

The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, has said that the Ajaokuta-Kaduna-Kano (AKK) and Obrikom, Obiafu, and Oben (OB3) gas pipelines when completed will change Nigeria’s fortune in the gas market.

He added that this would help the nation’s economy, drive industrialisation and job creation.

Mr Ekpo declared that Nigeria’s gas sector is undergoing a historic transformation under President Bola  Tinubu’s administration, with strategic infrastructure projects set to position the country as a leading gas-powered economy.

Speaking recently at the Nigerian International Energy Summit, he stressed that the planned completion of the 614-kilometer AKK gas pipeline this year, will significantly boost gas supply to industrial and commercial hubs.

“The 614-kilometer AKK pipeline, which is scheduled for completion in 2025, will significantly boost gas supply to key industrial and commercial hubs. This project, along with the OB3 pipeline, will stimulate industrialization, create jobs, and attract investments in manufacturing and power generation.

“These projects are a testament to our commitment to positioning Nigeria as a leading gas-powered economy by 2030 under the Decade of Gas Initiative,” Mr Ekpo said.

He noted that several moves and partnerships have been established by the Nigerian National Petroleum Company (NNPC) Limited.

“These partnerships have resulted in the establishment of five mini LNG plants—Prime LNG, BUA LNG, Highland LNG, NGML/GasNexus LNG, and LNG Arete—all in Ajaokuta, Kogi State. By liquefying gas from existing pipelines and transporting it to areas in need, these plants will enhance economic growth and energy security, particularly in the Northern region.”

The minister also lauded the Group CEO of NNPC Limited, Mr Mele Kyari, for his commitment to expanding mini LNG projects across all geopolitical zones, aligning with President Tinubu’s vision of using natural gas to drive economic growth.

Mr Ekpo reaffirmed the federal government’s commitment to alternative energy solutions, citing the nationwide Compressed Natural Gas, CNG program as a key initiative.

“With over 100,000 vehicles targeted for conversion and a $200 million investment in CNG infrastructure, this programme is a critical step toward reducing transportation costs and promoting energy sustainability,” he said.

Mr Ekpo emphasized that all these efforts align with Nigeria’s Decade of Gas Initiative, which aims to position the country as a leading gas-powered economy by 2030.

“The federal government is actively attracting investments in LNG, CNG, and gas-to-chemicals to create a business-friendly environment that fosters industrialization, job creation, and energy security.

“These projects are a testament to our commitment to a cleaner and more prosperous future for Nigeria,” he added.