Business

FEC approves $2.2bn external borrowing plan with Eurobond, Sukuk bond offer

Published

Sunday, 11 May 2025, 4:38 am

FEC approves 22bn external borrowing plan with Eurobond Sukuk bond

FEC approves $2.2bn external – The minister said that…

The minister said that the economic recovery and revival programme to turn around the economy focused on macroeconomic pillars of market pricing of the PMS and of foreign exchange.

The Federal Executive Council (FEC) has approved a $2.2 billion financing programme for external borrowing, including a potential Eurobond and Sukuk bond offer.

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, made this known while briefing newsmen after the FEC meeting on Wednesday at the Presidential Villa, Abuja.

“We just had the Federal Executive Council meeting, and I am privileged to present two memoranda to the Federal Executive Council.

“The first one was to complete the borrowing programme of the Federal Government in terms of external borrowing with the approval of a $2.2 billion financing programme.

“It is made up of access to the international capital market for some combination of the Euro bond offer and the Sukuk bond offer, and perhaps a Euro bond of about $1.7 billion.

“Sukuk financing of another $500 million the actual makeup of the financing which will be done as soon as the National Assembly has considered and hopefully approved the borrowing plan.

“If the external borrowing approval is given, it will be done this year, as soon as possible after approval.”

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He explained that the actual combination of instruments that would be raised would depend on what the advisors would say about market conditions at the time of the decision to enter the market.

“Of course, earlier in the year, we had shown the resilience of the Nigerian financial markets, and the depth of their capacity, the increased complexity and sophistication by having a domestic issuance of dollar bonds, which attracted Nigerian investors from far and wide.

“Likewise, being able to access the international capital market is also a sign of the acceptance and the support for the macroeconomic programmes of President Bola Tinubu-led administration,” he said.

The minister said that the economic recovery and revival programme to turn around the economy focused on macroeconomic pillars of market pricing of the PMS and of foreign exchange. He also disclosed that FEC had approved the Ministry of Finance’s incorporated real estate investment fund.

According to him, the fund is the basis for the revival and the return of long-term mortgage financing to the Nigerian economy.

“The Morph Real Estate Investment Fund is going to be, in the first instance, a ₦250 billion fund that will provide low-cost and long-term mortgages to Nigerians that want to acquire houses.

“It will help to complete or help to fill part of the gaping 22 million unit housing deficit. Of course, it will create jobs and stimulate economic growth.

“It will also pave the way for other investors in the private sector to come in and participate in the all-important housing construction industry with huge benefits and knock-on effects throughout the whole economy.

“Long-term investors have the opportunity to earn market rates of interest on investment.

“This is going to be blended with seed funding of ₦150 billion,” he noted.
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NIMC hikes Date of Birth correction fee to N28,574

Published

7 hours ago

May 10, 2025

John

The cost of correcting the date of birth on the National Identity Management Commission (NIMC) slip has risen to N28,574,

read more NIMC hikes Date of Birth correction fee to N28,574

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Business

Where & How to Buy PlayStation Gift Cards Online in Nigeria 2025

Published

10 hours ago

May 10, 2025

John

Contents

What is a PlayStation Gift Card?What Can You Use a PlayStation Gift Card For?Where to Buy PlayStation Gift Cards Online in Nigeria How to Buy PlayStation Gift Card Online in Nigeria (via Ridima)How to Redeem a PlayStation Gift Card How Much is a PlayStation Gift Card in Naira?Can You Sell PlayStation Gift Cards on Ridima?FAQs About PlayStation Gift Cards in Nigeria Conclusion

If you’re a PlayStation user in Nigeria, you already know the struggle. You want to buy a new game, renew your PS Plus, or grab that DLC everyone’s talking about—but then, payment issues show up.

Your bank card doesn’t work.

The platform needs a dollar card. And everything just feels more complicated than it should be. That’s where PlayStation gift cards come in. They’re fast, flexible, and made for situations exactly like this.

In this guide, we’ll break down:

What a PlayStation gift card is
What you can use it for
Where and how to buy one in Nigeria (safely)
How to redeem it on your PS5, PS4, or mobile
Rates, FAQs, and more

Let’s get into it.

What is a PlayStation Gift Card?

A PlayStation gift card, often called a PSN card, is a prepaid digital card used to add funds to your PlayStation Wallet.

With it, you can:

Buy games, add-ons, and in-game content
Pay for PlayStation Plus or PlayStation Now
Rent or buy movies
Purchase themes, avatars, or apps on the PlayStation Store

It’s available in various currencies—like USD, GBP, CAD, etc.—but don’t worry: even from Nigeria, you can redeem and use these cards easily.

What Can You Use a PlayStation Gift Card For?

Once redeemed to your wallet, the balance can be used to:

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Download full games (FIFA, GTA, God of War, etc.)
Get in-game coins (VC, V-Bucks, FUT points)
Purchase DLCs and season passes
Subscribe to PlayStation Plus for online multiplayer and free monthly games
Watch movies via the PlayStation Store

Basically, anything on the PlayStation Network (PSN) is fair game.

Where to Buy PlayStation Gift Cards Online in Nigeria

So you want to buy a PSN card in Naira? Be careful—Facebook, Telegram, and WhatsApp sellers are risky. Many offer fake or already-used cards.

Use Ridima — a trusted platform where Nigerians buy legit PlayStation gift cards and receive them instantly.

Ridima supports gift cards from:

USA (PSN)
UK (PlayStation Network)
Canada
Other top countries

How to Buy PlayStation Gift Card Online in Nigeria (via Ridima)

Here’s the step-by-step:

Download the Ridima App from the Play Store or App Store
Sign up or log in
Tap on “Buy Gift Card”
Choose PlayStation (PSN)
Select the country (e.g. USA, UK)
Choose the card value ($10, $50, $100, etc.)
Choose how you want to pay (bank transfer, wallet, etc.)
Confirm purchase

Once successful, your PSN card code is delivered instantly via email.

How to Redeem a PlayStation Gift Card

You can redeem your PSN card from your console or mobile. Here’s how:

On PS5 or PS4:

Go to Settings
Scroll to Users and Accounts
Select Account > Payments and Subscriptions
Tap Redeem Code
Enter the 12-digit code
Tap Redeem

On Mobile or PC:

Visit store.playstation.com
Sign in to your PSN account
Click your profile > Redeem Code
Enter your gift card code
Click Redeem

Your wallet will be topped up immediately.

How Much is a PlayStation Gift Card in Naira?

It depends on the card country, market demand, and dollar exchange rate.

Here’s a rough estimate:

Card Type	Naira Value (Estimated)
$10 PSN (USA)	₦15,000 – ₦20,000
$50 PSN (USA)	₦80,000 – ₦94,000
£20 PSN (UK)	₦40,000 – ₦50,000

For current rates, use the Ridima Gift Card Calculator.

Can You Sell PlayStation Gift Cards on Ridima?

Yes, you can also sell PSN cards on Ridima and get paid in Naira.

Open Ridima
Tap “Sell Gift Card”
Select PlayStation
Upload the code and details
Get paid after quick verification

Perfect if you were gifted one or just want to cash out.

FAQs About PlayStation Gift Cards in Nigeria

Can I Use a US PlayStation Card in Nigeria?
Yes! As long as your PlayStation account is registered in the US, you can use a US PSN card from anywhere.
Do PSN Cards Expire?
No, they don’t expire. Use them whenever you’re ready.
Can I Buy a PSN Gift Card with Naira?
Yes, Ridima allows you to pay in Naira and get your card instantly.
Are PSN Cards Safe to Buy Online?
Only if you use a verified platform like Ridima. Avoid black market sellers.
What’s the Minimum Card Value?
Most platforms (including Ridima) allow you to buy as low as $10.