Author: Julius Alagbe

Oil Prices Decrease over Demand, Supply Uncertainties Uncertainties in the global commodities market refuse to fizzle out, and this has resulted in a decline in the prices of crude oil. The oil market activities hang between rising US crude oil inventories and supply tightening following Russian export sanctions. US inventories surge, and floating storage in Asian waters has doubled in recent weeks as tighter Western sanctions curb imports to China and India. Oil prices are tracking lower on Tuesday even after Russia’s Lukoil declared force majeure on its operations in one of Iraq’s biggest oil fields because of the latest U.S.…

Benchmark Yield on Nigerian Bonds Falls to 15.76% The benchmark yield on Federal Government of Nigeria (FGN) bonds fell slightly to 15.76% in the secondary market amidst mixed expectations ahead of inflation, interest rate outlook and November supply. With investors’ interest concentrated at the short end and belly of the curve, the average yield on Nigerian government bonds eased slightly ahead of inflation.  Trading activity was relatively subdued as asset managers, pension fund administrators and other market players search for action points. Local bonds demand was focused on short- to mid-term maturities while Long-dated papers held firm amid limited trading…

Short-term Rates Diverge as Banks’ Placement at SDF Falls by 24% The short-term interest rates diverged in the money market even with excess liquidity levels on record in the financial system on Monday. Deposit money banks’ (DMBs) placement at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) eased as system liquidity maintained a surplus for the 16th consecutive trading session. In their separate report, investment banking firms reported that liquidity levels opened the week at ₦3.84 trillion, representing a 2% decline from the previous close. The short-term benchmark interest rates moved in a different direction as DMBs placements…

Gates Foundation Announces $1.4bn to Boost Climate-Resilient Farming The Bill and Melinda Gates Foundation has announced a new 1.4 billion dollar commitment to help smallholder farmers across sub-Saharan Africa and South Asia adapt to growing impacts of climate change. The announcement was made at the 30th UN Climate Change Conference (COP30) in Belém, Brazil, where global leaders called for stronger and locally driven approaches to climate adaptation. According to the Foundation, the four-year investment will expand access to innovative tools that will enable farmers build resilience against extreme weather events, while protecting hard-won gains against poverty. “Smallholder farmers are feeding…

UN Reaffirms Commitment to Africa’s Digital Transformation The United Nations University on E-Governance (UNU-EGOV) says it will continue to support International Conference on Theory and Practice of Electronic Governance (ICEGOV) for digital transformation in Africa. Ms Delfina Soares, Director of UNU-EGOV said this at the weekend during the closing ceremony of the 18th edition of the ICEGOV organised by the National Information Technology Development Agency (NITDA) in Abuja. The theme of the conference was “Shaping the Future of Digital Governance Through Cooperation, Innovation and Inclusion.” Soares said over the years ICEGOV had served as a global platform for countries to…

Nigerian OMO Bills Yield Climbs 15 bps to 22.2% The average yield on Nigerian OMO bills rose by 15 basis points to 22.2% in the secondary market due to sell pressures amidst two primary market auctions. The Central Bank of Nigeria (CBN) floated two OMO bill auctions totalling N1.2 trillion in an attempt to mop up excess liquidity in the financial system. In the secondary market, banks and foreign portfolio investors rebalance positions in anticipation of rates adjustment across the short term OMO bills tenors. OMO curve witnessed mild selloffs as investor jitters following President Trump’s recent comments on Nigeria’s…

Fuel Import Tariff Will Strengthen Naira, Spur Investment — NECA The Nigeria Employers’ Consultative Association (NECA) has expressed support for the Federal Government’s 15 per cent import tariff on petrol and diesel. Mr Adewale-Smatt Oyerinde, Director-General of NECA, in a statement on Sunday in Abuja said the move will strengthen the Naira and attract investment. Oyerinde said the policy is a welcome step toward protecting local industries and encouraging domestic refining of petroleum products. “It is absurd for a country blessed with crude oil to spend so many years importing petrol and diesel,” he said. He said that the comatose…

NCC to Host Digital Economy Awareness, Sensitization Fora The Nigerian Communications Commission (NCC) is set to host the inaugural edition of the Digital Awareness and Sensitisation Fora as a platform to strengthen policy and innovation for a digital future. The fora are to facilitate a conducive environment to build infrastructure for innovation and inclusion and to lay a solid foundation for bridging gaps between policy and infrastructure for national development. The maiden edition, with the theme: “Leaving No One Behind: Digital Assets, Equity, and Empowerment” which is scheduled to take place on November 13, 2025, will bring together industry experts,…

Customs Intercepts 60,000 Litres of Diverted Petrol In Katsina The Nigeria Customs Service (NCS) said, on Friday, it intercepted a tanker loaded with 60,000 litres of petrol, suspected to be diverted to the border area in the state. The tanker, suspected to be en route to the border area for smuggling, was intercepted on the Jibia Road on Sept. 30 by the NCS’s special task force, ‘Operation Whirlwind’. The National Coordinator of the task force, ACG Kola Oladeji, disclosed this while handing over the tanker to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Katsina. Oladeji was represented…

COP30: UN Chief Calls for Shift to Clean Energy UN Secretary-General António Guterres has continued his campaign to accelerate the global shift from fossil fuels to clean energy – “the cheapest source of new electricity in nearly every country.” The latest push came on Friday, in his remarks to the Energy Transition Roundtable in Belém, Brazil, held just days before the formal opening of the COP30 climate change conference. “The fossil fuel age is ending. Clean energy is rising. Let us make the transition fair, fast, and final,” he said. The UN chief told world leaders that “the global energy landscape is…