Author: Julius Alagbe

AIICO Insurance Targets N19.55 billion Profit for FY2025 AIICO Insurance Plc notifies shareholders and the Nigerian Exchange that the company is targeting N19.55 billion as profit after tax obligation for the financial year 2025, according to details from its earnings forecast reviewed. In the stock market, investors reacted positively to the company earnings projection as the share price inched higher by 5% to N4.20 as 14.275 million units valued at N59.175 million were traded in the local bourse. This position taking action lifted the market value of AIICO Insurance Plc’s 36.605 billion shares outstanding up by 5% to N153.742 billion…

VFD Group Forecasts Q4 Profit to Settle at N2.45 Billion VFD Group Plc has forecasted its fourth quarter of 2025 profit to settle at N2.45 billion, details from the company’s regulatory filing revealed. In an earnings projection signed by its chief finance officer, Raphael Olope and Nonso Okpala, the company is targeting more than N24 billion as gross earnings. In the stock market, its share price dipped slightly as investors trimmed positions. The company’s share price fell to N10.90 as 2.925 million units valued at N31.871 million were traded in the open market. This left market value of VFD Group’s…

Geregu Power Targets N12.12 billion Profit in Q4-2025 Geregu Power Plc forecasts a N12.120 billion profit for the fourth quarter of financial year 2025, according to details from its latest regulatory filing. In a statement signed by its chief executive officer, Akin Akinfemiwa, the power-generating company anticipates revenue to print at N63.054 billion in the same period.  Gross profit for the period is projected to settle at N26.294 billion after the company offset its direct costs of sales estimated at N36.759 billion. For Q4, Geregu Power targets N19.272 billion as operating profit following its estimated impairment charge of N4.293 billion…

Nigeria Targets Global Markets with $60bn Gas Expansion Plan – NNPC CEO The Nigerian National Petroleum Company Limited (NNPCL) says the country is targeting 60 billion dollars in new investments over the next five to seven years to expand gas infrastructure. Mr Bayo Ojulari, Group Chief Executive Officer of NNPCL, disclosed this while addressing a global audience from 150 countries at the opening of the Gastech Exhibition and Conference in Milan, Italy. He further stated that the Federal Government was seeking the investment to boost industrialisation and reinforce the country’s position in the global energy market. According to him, the…

Naira Tests N1,497/$ as External Reserves Hit $41.571bn The naira tested at N1,497 per dollar at the Nigerian foreign exchange market as the gross balance in the nation’s external reserves reached $41.571 billion on Monday, according to updated data from the Apex Bank. The local currency has continued to gain and retain value against the dominant foreign currency, the US dollar, across the Nigerian forex market in post-reform recovery supported by interventions. Some analysts predicted the local currency will close year 2025 between N1580 and N1600 per dollar in 2025, but the recent tractions suggest otherwise. According to the Central…

Large European Bank Earnings to Reduce Slightly for 2025 –Fitch Most of the 20 large European banks in Fitch Ratings’ latest quarterly credit monitor performed well in 1H25. Revenue generation was resilient to declining interest rates, and cost and asset quality pressures were generally contained. Fitch expects profitability to remain robust in 2025, but that metrics will fall to slightly below 2024 levels for most banks. The main driver of this will be smaller net interest margins (NIMs), partially offset by growing lending volumes and strong trading income. NIMs have already begun to decrease and are likely to fall further…

Banking, Insurance Sectors Drive NGX Index Higher by 29bps The Nigerian Exchange (NGX) top sectoral indexes, including banking and insurance sectors, boosted equity portfolio value by 29 basis points on Tuesday as investors began to re-enter positions in companies with growth potential. Positive price appreciation in GTCO and Lafarge Africa with ticker WAPCO supported gains recorded by some lightweight companies with relatively lower market capitalisation. Leading performers included REGALINS, MECURE, ETRANZACT, DAARCOMM, and DEAPCAP, while UNILEVER, FTNCOCOA, ELLAHLAKES, LINKASSURE, and BERGER were among the notable underperformers. Gainers include: WAPCO 6.15%, MANSARD 6.13%, AIICO 4.44%, INTBREW 4.07%, UCAP 3.85%, PZ 2.41%,…

Nigeria’s World Cup Hopes End with 1-1 Draw in South Africa Nigeria’s Super Eagles crashed out of the race for the 2026 FIFA World Cup after a 1-1 draw with South Africa on Tuesday. The Group C Matchday 8 fixture was played at the Toyota Stadium in Bloemfontein. Nigeria needed an outright win to stay in contention for a World Cup spot. They had earlier defeated Rwanda 1-0 on Matchday 7 in Uyo, but still sat fourth on the six-team table with 11 points. South Africa led the group with 14 points and were looking to widen the gap. The…

AIICO, PZ Lead Intraday Rally, Nigerian Exchange Index Jumps AIICO Insurance, PZ Cussons are among top gainers during intraday trading session on Nigerian Exchange (NGX). The soft rally is supported by bargain hunting in banking stock with notable influence from UBA and Zenith Bank at the time of writing. The local bourse has been fluctuating as investors continue to rotate positions, but stockbrokers told MarketForces Africa that there are some stocks that are in oversold territory and thus have the potential to rally. During the intraday trading session, Zenith Bank has climbed slightly, with UBA staying in the green, while…

AI Adoption by Nigerian Firms Hits 93% — Zoho Zoho, a global technology company, says 93 per cent of Nigerian companies have adopted artificial intelligence (AI), while 84 per cent strengthened privacy measures. The Country Head of Zoho Nigeria, Mr Kehinde Ogundare, disclosed this during Zoho’s 2025 User Conference, Zoholics Nigeria, held in Lagos on Monday. He said a study conducted by Arion Research for Zoho showed that over half of Nigerian firms had moved from experimenting with AI to applying it organisation-wide. He noted the report also found 94 per cent of companies now had a privacy officer or…