Author: Julius Alagbe

NUPRC Chief Woos Investors with Transparent Oil Licensing Round The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has promised to deliver a transparent 2025 oil licensing round to boost investment in oil and gas sector. The bid portal would go live on its website on Dec. 1, 2025. Mr Gbenga Komolafe, Chief Executive of the commission, said this when the management team of the Ludoil Energy of Italy visited NUPRC corporate headquarters in Abuja. In a statement, Komolafe said the licensing round would feature two stages, explaining that first would be the technical phase and then those who scale through would…

Nigerian Eurobonds Yield Falls as Nov. 2025 Due for Redemption Nigerian Eurobond yields fell at the international debt market as foreign portfolio investors increased their portfolio holdings amidst the near redemption of sovereign external borrowing notes. The Debt Office raised $2.85 billion from the external market to support Nigeria’s 2025 budget deficit, and some analysts said the action was initiated as part of an effort to redeem a borrowing note that will expire in November. The rally suggests the market has priced in near-zero default risk as the country’s reforms begin to yield results with about $47 billion in gross…

Nigerian Treasury Bills Yield Drops to 16.89% after Auction Investors increased bets on Nigerian Treasury bills in the secondary market, reflecting sustained demand for the naira assets after the midweek main auction. The average yield declined below 17% due to post-auction trading reactions. Activities closed on a positive note as investors with failed bids returned to the secondary market to boost their portfolio holdings.  The bargain hunting dragged yields across the belly and long end of the curve lower ahead of a possible interest rate cut. The Central Bank conducted a Treasury bills auction where N700 billion was the offer…

Naira Rises after CBN Sells $50m to Boost FX Supply The naira rebounded against the US dollar at the Nigerian foreign exchange market a day after the Central Bank (CBN) sold $50 million to authorised dealer banks to strengthen supply. The local currency exchange rate came under pressure as demand for the US dollar surpassed FX supply in the local currency market.  The naira appreciated by 0.14% to ₦1,452.13/$ in the official window and strengthened 0.32% to ₦1,469/$ in the parallel market, reflecting easing pressure and improving sentiment.  Trading data from the CBN showed that spot FX rate touched intraday…

Equities investors’ portfolio value on the Nigerian Exchange (NGX) declined by about N292 billion as selling pressures hit Wema Bank, Oando and others.

Money Market Funding Costs Ease Despite Huge OMO Actions Money market funding costs declined as liquidity levels remained in surplus despite a series of open market operations conducted by the Central Bank of Nigeria (CBN). The Apex Bank turned aggressive with liquidity management this week as the funding profile expanded sharply after previous OMO bill repayments. Still, the short-term benchmark interest rates brushed off liquidity tightening efforts. In the week, OMO bills have been floated twice, while the authority accommodates excess subscription with above-the-offer-size allotment. The market liquidity opened the day with a surplus balance of ₦2.7 trillion, reflecting an…

CBN Intervenes in FX Market with $50m as Naira Faces Pressure The Central Bank of Nigeria (CBN) was in the forex market to support the local currency, selling $50 million to authorised dealer banks to strengthen the supply side. The naira started facing intense heat as FX inflows continued to reduce, while US dollar demand for foreign payment was on the rise. Since the naira gained weight, the CBN has become less aggressive with FX sales. However, the authority was forced to pump hard currency into the official window as the naira exchange rate worsened. The naira depreciated by ₦6.76…

CBN Allots N903bn Worth of OMO Bills, 188-D Price at 20.54% The Central Bank of Nigeria (CBN) conducted an open market operation on Wednesday where N600 billion worth of OMO bills was floated for investors’ subscription. With more than N5 trillion in free funds, a slew of analysts anticipated that both the midweek treasury bills and OMO auction will attract investors’ attention. The Apex Bank action reflects the need to mop up excess liquidity level in the financial system. The CBN offered OMO bills to eligible market participants – foreign portfolio investors and deposit money banks—across two tenors. The…

PEBEC Reaffirms Commitment to Collaborate With MDAs on Service Delivery The Presidential Enabling Business Environment Council (PEBEC) has reiterated its commitment to collaborate with Ministries, Departments, and Agencies (MDAs) to ensure seamless, responsive, and business-friendly service delivery across the nation. The Director-General of PEBEC, Mrs Zahrah Mustapha-Audu, said this in a statement on Wednesday in Abuja. She commended the Federal Road Safety Commission (FRSC) on the recent nationwide clearance of driver’s licence backlog. She acknowledged the prompt and comprehensive actions taken by the corps in response to service delivery concerns regarding delays in the production of driver’s licences nationwide. “Following…

Bank of England December Rate Cut Now ‘Very Likely’ – CEO UK inflation rate rising to 3.6% in the year to October, a fall from the three preceding months, means a Bank of England rate cut in December is now very likely, predicts the CEO of global financial advisory giant deVere Group. The prediction from Nigel Green comes as the latest official figures show that consumer price inflation in the UK has cooled to 3.6% in October, down from 3.8% in September. At the same time, the Bank of England’s November Monetary Policy Committee minutes reveal the committee voted by…