From Our correspondent
Electricity has been restored to Bende Federal Constituency in Abia State after 23 years, as Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, commissioned a rehabilitated power line reconnecting the communities to Nigeria’s national grid.
The project, commissioned on Tuesday restored supply to Uzuakoli and Ozuitem, two major towns that have relied on generators and solar alternatives since 2002, a situation that severely constrained economic activities and local enterprise.
Speaking at the commissioning ceremony, Kalu described the reconnection as a turning point for the constituency’s economic revival, noting that years of failed interventions had kept businesses in prolonged stagnation.
“We thank God for this worthy development. Darkness has vanished in Bende”, Kalu said.
“In the last 24 years, it’s been either solar or a generator. I have tried in the past to make this happen, unfortunately it failed. This time, I insisted it must work, even though it cost us so much”.
He said the return of grid power would significantly reduce energy costs for households and businesses, creating room for growth in local manufacturing, agro-processing and services.
“This will revive small-scale businesses in Bende. Cottage industries and factories will also spring up”, the Deputy Speaker added.
Kalu stressed that reliable electricity is central to job creation and economic competitiveness, urging residents to see the project as a shared asset that must be protected.
“This infrastructure belongs to the people. Vandalism will not be tolerated”, he warned.
He called on traditional rulers, Presidents-General of autonomous communities and youths to establish local vigilante arrangements to safeguard the power facilities and ensure uninterrupted supply.
The restoration of electricity is expected to improve living standards, attract private investment and reposition Bende as a viable destination for small and medium-scale industrial activity, ending more than two decades of energy deprivation that stifled economic development in the area.
Debt Office To Auction N900 Billion Reopened FGN Bonds
Debt Management Office ,DMO, has announced a plan to auction N900 billion worth of reopened Federal Government of Nigeria ,FGN, bonds at its monthly primary market auction next week.
Inflation and liquidity level in the financial system are expected to dictate investors’ subscriptions, though spot rates adjustments top market expectations, investment analysts told AljazirahNigeria.
The DMO’s local borrowing is expected to increase in 2026 as the budget deficit surged, with some analysts thinking a Eurobond raise may be a tight and expensive move for the authority in the first quarter of the year.
Following the release of the January bond circular, which announced an offer of N900.00 billion through the reopening of the Feb 2031 (5-yr), Feb 2034 (7-yr) and Jan 2035 (7-yr) instruments, proceedings in the secondary market was relatively quiet.
The bonds’ secondary market closed with a bearish tilt as the average benchmark yield expanded by +1bp to close at 16.74% – reflecting subdued local investor sentiment toward domestic fixed-income securities.
Trading activities were focused on the short-mid tenor of the curve, while the long end traded quietly. At the short end, mild selling pressure pushed yields on the 17-Mar-27 and 17-Apr-29 up by 1 bp and 7 bps to 16.97% and 17.26%, respectively.
Investment firm reported that mid-curve trading was mixed, as a 12 bps rise in 2033 local bond, which was partly offset by a 7 bps decline in the 2032 FGN Bond.
Analysts expect this trend to continue in the near term ahead of January’s bond auction. Overall, supply and demand dynamics are expected to drive yield movements.
