Author: Julius Alagbe

Zenith Bank Investors Are Taking Positions on Expectations Zenith Bank Plc is keeping the uptrend on Friday morning as investors are taking positions based on expectations ahead of earnings. The bank is seeing positive price appreciation during early hours in the Nigerian Exchange (NGX) as investors begin to re-enter positions in anticipation of earnings release. Stockbrokers are saying the delay in earnings release is due to the Central Bank of Nigeria (CBN) approval process, without which Zenith Bank is not permitted to make available its financial scorecard in the market. During early trading hours, the bank share price has climbed…

Nigeria’s Crude Oil Losses Drop to 16-Year Low – NUPRC The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country’s upstream oil sector is experiencing a significant turnaround. It said Crude oil losses from theft and metering issues had fallen to their lowest levels in nearly 16 years. According to the Commission, daily losses in July stood at 9,600 barrels per day (bpd)—the lowest recorded figure since 2009, when losses dropped to an all-time low of 8,500 bpd. This data was based on year-to-date crude oil loss trends up to July, released by the NUPRC and shared by Eniola Akinkuotu,…

Naira Drops as US Dollar Demand Surpasses FX Supply The naira dropped against the US dollar at the Nigeria foreign exchange market (NFEM) on Thursday, driven by intermittent increase in foreign currency demand from corporate users and other market players. The Central Bank of Nigeria (CBN) updated foreign exchange data showed that the naira closed the day at N1502.1311 per dollar, depreciated from N1,500.9152 quoted the previous day. The local currency hit an intraday high of N1503.5000 while spot rate ended at N1503 due to relatively weak US dollar liquidity today versus demand logged by corporate FX users. While traders…

Euro Climbs Against U.S Dollar, ECB Keeps Rates Steady The euro climbed back to $1.17 level on Thursday on the back of a broad dollar weakness after fresh US inflation and jobless claims data reinforced expectations for Federal Reserve rate cuts this year. U.S dollar faced broad sell pressures as inflation accelerated amidst Fed rate cut expectation. In August 2025, the US Consumer Price Index (CPI) accelerated compared to the prior month, according to inflation data. Bureau of Labor Statistics (BLS) reported a 0.4% month-on-month increase in the headline CPI, which pushed the annual rate up to 2.9% from 2.7%…

Africa’s Transition States Need $210bn for Transformation-AfDB The African Development Bank (AfDB), says Africa’s transition states will require 210 billion dollars annually to achieve sustainable structural economic transformation. Dr Abdul Kamara, Director-General, Nigeria Country Department of the AfDB, said this during a policy dialogue session at the ongoing Nigerian Economic Society (NES) Conference on Thursday in Abuja. The session was themed “Driving Africa’s Economic Transformation in Transition States: The Role of Capacity Development and Knowledge Management.” Kamara said that in spite Africa’s potentials, transition states faced unique challenges, including fragile institutions, post-conflict reconstruction, limited fiscal capacity and revenue mobilisation constraints,…

NGX Hits N89tn, Investors Re-Enter Positions in Oversold Stock Buoyed by sustained bargain hunting, the Nigerian Exchange (NGX) has retaken N89 trillion in market capitalisation after sell pressures that lasted for weeks. Investors re-entered positions in listed companies’ stock that had been oversold and other fundamentally sound equities with strong upside potentials. Key performance indicators appreciated by 0.21% as the local bourse closed trading on a positive note, with year to date return settling at 36.66% on Wednesday. Stockbrokers said the uptrend was supported by sustained buying interest across major sectors, alongside bargain hunting in some medium- and large-scale stocks.…

Rights Issue: Wema Bank Exceeds N200bn Minimum Capital Wema Bank Plc has completed its N150 billion rights issue, securing approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The bank made this known in a statement on Thursday in Lagos. The Rights Issue, which opened on April 14 and closed on May 21, was oversubscribed, underscoring investor confidence in the bank’s strategic direction and governance. With the successful completion, Wema Bank now exceeds the N200 billion minimum capital requirement for commercial banks with national authorisation. The fresh capital injection raises the bank’s qualifying capital…

U.S. Inflation Accelerates to 2.9% in August 2025 In August 2025, the U.S. Consumer Price Index (CPI) accelerated compared to the prior month, with the Bureau of Labor Statistics (BLS) reporting a 0.4% month-on-month increase in the headline CPI. The inflation rate accelerated faster versus +0.2% surge in July, pushing the annual rate up to 2.9% from 2.7%. The slight uptick was largely driven by higher shelter costs alongside energy. According to statistics data, Core CPI, which excludes food and energy, rose 0.3% month-on-month, matching July’s pace, keeping the annual rate at 3.1%. The increase was supported by higher costs…

Oracle Soars Near $1trn over Multi-Billion Dollar Deal Disclosure Global IT giant Oracle Corporation is trending in the New York Stock Exchange (NYSE) on Thursday, keeping track with its latest rally following a multi-billion dollar deal disclosure. Larry Ellison, Chairman of the company has taken over as the richest man the company share price gained significant traction following a fresh price propelling disclosure. On Thursday, Oracle maintains uptrend during early hours, extending gains from Wednesday when the cloud-services company’s stock closed 36% higher. Shares are up 1.4% at $333.00 Thursday premarket as Chief Executive Safra Catz said the group had…

Nigeria Targets 25% Industrial Growth by 2035 – Minister Federal Government says Nigeria has projected a significant rise in industrial contribution to GDP, targeting 25 per cent growth between 2025 and 2035 under a newly validated strategic framework. Sen. John Owan, Minister of State for Industry, made the remark during a panel session at the ongoing Gastech Exhibition and Conference in Milan, Italy. The session was themed “Powering Growth and Prosperity in High Potential Economies Through Widened Access to Affordable, Reliable and Flexible Energy.” Owan said the framework marked a turning point in Nigeria’s industrial policy, describing it as one…