Author: Julius Alagbe

Debt Office to Open N260bn Nigeria Bonds for Subscriptions The Debt Management Office (DMO) will conduct its monthly Federal Government Bond (FGN) auction on Monday with two reopening instruments with 5- and 7-year tenors on offer. At the primary market auction, local bonds worth N260.0 billion would be on offer across two tenor buckets. The authority will reopen two sovereign issues across 5-year and 7-year tenors for investors’ subscription with N130 billion offer size for each. There is mixed reactions about subscription levels amidst anticipated spot rates repricing.  At the previous bonds auction for Sept, DMO slashed spot rate on…

PenCom to Clear All Gratuities, Arrears with N758bn FGN Bonds The National Pension Commission says it will clear all pension arrears and gratuities owed the retirees if the N758 billion bond by the Federal Government matures before December this year. Ms.Omolola Oloworaran, the Director-General of PenCom said this on Friday in Owerri at a two-day workshop organised by the commission and, National Salaries, Income and Wages Commission. The PenCom director-general was represented by Mr Samuael Uwandu, the National Commissioner Inspectorate of the Commission. Oloworaran said that over the decades, there had been some issues on the gratuities or the amount…

Aradel to Acquire 40.0% Equity Interest in ND Western Limited Aradel Holdings Plc has announced that its wholly owned subsidiary, Aradel Energy Limited, had entered into a definitive agreement to acquire an additional 40.0% equity interest in ND Western Limited (NDW) from Petrolin Trading Ltd. In a regulatory disclosure, the oil company explained that ND Western holds a 45% participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta. Public details available highlighted that OML 34 contains material crude oil and associated gas reserves contributing to Nigeria’s domestic energy supply and exports. In addition,…

Equities Investors Gain N733bn, NGX Closed at N98.79trn The Nigerian Exchange (NGX) market capitalisation closed at N98.79 trillion as investors saw an additional gain of more than N733 billion on Friday. The local bourse wrapped up the trading session stronger as third quarter earnings releases triggered a monster rally across sectoral indices. Year-to-date return surged as key performance indicators climbed by 75 basis points, supported by ongoing bargain hunting in bellwether stocks. The Nigerian bourse sustained its eighth consecutive gaining streak, supported by interest in selected medium- and large-scale stocks such as IKEJAHOTEL, ARADEL, DANGSUGAR, DANGCEM, and 30 others. Specifically,…

Nigeria’s Gross External Reserves Increase to $42.865 billion Nigeria’s gross external reserves climbed to $42.865 billion on Wednesday, and most projections sampled by MarketForces Africa showed the year-end balance will reach $43 billion. The foreign reserves balance is noted to provide liquidity cover for about 12 months of imports, and the net position has surpassed the pre-naira reform era. Key drivers of the accretion into the foreign reserves are increases in hydrocarbon earnings, foreign portfolio investment flows and remittances. Updated data from the Central Bank of Nigeria (CBN) shows that the currency external reserves balance is the highest seen since…

NNPC Ltd. Applauds Ekperikpo, Mshelbila’s Emergence as GECF Chairman, Secretary-General The Nigerian National Petroleum Company Limited (NNPC Ltd.) has lauded President Bola Tinubu’s strategic role in the emergence of Dr Philip Mshelbila and Dr Ekperikpe Ekpo in top Gas Exporting Countries Forum (GECF) positions. Mshelbila, Managing Director of the Nigeria Liquefied Natural Gas (NLNG) was elected as the new Secretary-General of the GECF at its 27th Ministerial Meeting held on Thursday, in Doha, Qatar. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, also emerged as the President of the 2026 GECF Ministerial Meeting. The Group CEO, NNPC Ltd.,…

Lagos Reaffirms Commitment to Reforms, Tech-Driven Growth Gov. Babajide Sanwo-Olu of Lagos State has restated his administration’s commitment to deepening reforms that will make Lagos a more efficient, inclusive and technology-driven economy. Sanwo-Olu made this known during a South Africa–Nigeria Economic Diplomacy Roundtable at MTN Plaza, Ikoyi, on Thursday. The governor was represented by his Deputy, Dr Obafemi Hamzat. He said Lagos remained open to partnerships that would bring in capital, technology and expertise to drive growth and development. According to him, South African businesses have played important roles in the economy of Lagos State, especially in telecommunications, retail market,…

Senate Urges Strict Compliance, Transparency in Public Procurement The Senate Committee on Public Procurement has emphasised the urgent need to make Nigeria’s procurement process more transparent and strictly compliant with established procedures to ensure accountability and value for money. It stated that public procurement in Nigeria should become a model of transparency and efficiency, ensuring every naira spent results in measurable, impactful projects that positively affect citizens and national development. Sen. Olajide Ipinsagba (Ondo North), Committee Chairman, made the call during a two-day retreat for committee members in Abuja on Thursday, aimed at strengthening oversight and governance in procurement processes.…

Nigerian Exchange Expands by 50.1%, Market Cap Hits N98trn Recording a 50.1% year-to-date gain, the Nigerian Exchange (NGX) market capitalisation hit $98 trillion on Thursday as the third-quarter earnings release continues to fuel the rally. Equities investors increased their positions in some value and growth stocks in anticipation that their results would trigger market re-rating. Stockbrokers said the rally will likely push market value of all the listed companies above N100 trillion in October, reflecting increase appetite for risk assets amidst yield slowdown in the fixed income market. Due to sustained bargain hunting, NGX key market performance indicators climbed by…

Petroleum Institute Urges Early Take Off of Africa Energy Bank The Petroleum Training Institute (PTI) has called for the early inauguration of the Africa Energy Bank (AEB) to enhance access to affordable energy financing and accelerate sustainable growth across the continent. Dr Samuel Onoji, Principal and Chief Executive of PTI, made the call on Wednesday in Abuja at the opening of the fourth Biennial International Conference on Hydrocarbon Science and Technology (ICHST 2025). The conference, organised by the PTI, has its theme as “Transforming Africa’s Hydrocarbon Sector: Balancing Growth, Environment and Governance.” Onoji said that Africa’s hydrocarbon resources remained pivotal…