Author: Julius Alagbe

Liberia Unlocks Access to $26.5 Million IMF Loan Liberia has unlocked access to the International Monetary Fund (IMF) post Article IV consultation and second review loan under its extended credit facility, according to an official statement. The Fund completed the Article IV Consultation and the second review of the 40-month Extended Credit Facility (ECF) arrangement for Liberia. The Board’s decision allows for an immediate disbursement of SDR 19.3 million or about US$ 26.5 million, bringing total disbursements under the arrangement to SDR 57.9 million, equivalent to about US$ 79.4 million. Liberia’s ECF arrangement—SDR 155 million, an equivalent of 60 percent…

Lafarge Africa Delivers 80% Return on Investment in 9-Month Due to record price appreciation, a N100 million investment in Lafarge Africa has grown to N180 billion based on the cement company’s share price performance – and this is the best investors get versus its rivals. Lafarge Africa Plc has delivered approximately 80% year-to-date return on investment on the bet on the cement company stock in 2025. Investors with interest in cement stocks are generally sensitive to Nigeria’s capital expenditure plan – which has been well executed. Reflecting stockholders’ sentiment on Lafarge African earnings outlook, the cement company experienced significant price…

Nigeria Beats N20trn Non-Oil Revenue Target in August – Tinubu Reflecting a sharp improvement in fiscal performance, the Federal Government of Nigeria has achieved N20 trillion in non-oil revenue target as if August 2025, details from President Bola Tinubu Independence Day speech highlighted. President Tinubu reiterated the need for Nigerians to patronise made in Nigeria products to grow industries and boost economic performance. He stated that Nigeria is now a net exporters, selling more to the outside world than the country’s aggregate imports – helping the naira to stabilise. According to him, Nigeria should be a nation of producers, not…

Global Economy Loses $4.7trn Annually To Fraud, Says SON The Standards Organisation of Nigeria (SON) says the global economy loses over 4.7 trillion dollars through fraud every year, amounting to nearly seven per cent of annual revenues of organisations worldwide. Prof. Oserheimen Osunbor, Chairman of SON’s National Technical Committee on Governance of Organisations, said this on Tuesday in Abuja at the official launch of ISO 37003:2025. The ISO 37003:2025 is the world’s first international fraud control management system standard. Osunbor said that in spite of existing internal mechanisms and statutory regulations, fraud remained pervasive, aided by technology and artificial intelligence.…

Lagos Reiterates Readiness to Host Maiden Sub-National SEMA Summit The Lagos State Government has reaffirmed its commitment and readiness to host the maiden National States Emergency Management Agency (SEMA) Summit, scheduled to hold from Oct. 2 to Oct. 4. The Commissioner for Special Duties and Intergovernmental Relations, Mr. Gbenga Oyerinde, made the announcement during a roadshow within the Alausa Secretariat. The commissioner said that the roadshow aimed at creating awareness about the landmark summit. Speaking on the importance of the SEMA summit, Oyerinde said: “This administration has invested heavily in emergency and disaster management to ensure the protection of lives…

Nigeria, EU Hold Inaugural Trade, Investment Dialogue Nigerian Senior Government officials and the European Union (EU) on Tuesday held a meeting to assess existing vibrant economic partnership, to chart a way forward. The EU bloc made this known in a statement by Mr Modestus Chukwulaka, the Press and Information Officer of the EU Embassy in Abuja. According to Chukwulaka, the inaugural Nigeria-EU Senior Officials Trade and investment Dialogue (TID) was anchored by Amb. Nura Rimi, the Permanent Secretary, Ministry of Industry, Trade and Investment. He said that Dr Jumoke Oduwole, the Minister of Industry, Trade and Investments, and Mr Gautier…

FG Verifies 110 Constituency Projects Across 6 Geo-Political Zones No fewer than 110 constituency and zonal intervention projects have been verified and certified by the Federal Government across the country’s six geopolitical zones. Mr Zaphaniah Jisalo, Minister of Special Duties and Intergovernmental Affairs, disclosed this at the third quarter Stakeholders’ and Citizens’ Engagement Forum organised by the ministry on Tuesday in Abuja. The forum had as theme “Deepening Inclusive Governance through Regional Collaboration and Grassroots Participation”. Jisalo, represented by the Permanent Secretary in the ministry, Dr Onwusoro Maduka, said that the projects include school renovations, borehole installations, and agricultural empowerment…

Naira Climbs to N1475, FX Inflow Rises to $981m The Nigerian local currency, the naira, rose against the US dollar again at the official window, staying on track amidst growing bullish predictions. The official exchange rate has maintained the momentum after it breached N1500 psychological barrier – now heading toward the next breakout. Updated FX from the Central Bank of Nigeria (CBN) revealed that the naira appreciated 0.07% to ₦1,475.34, demonstrating continued strong demand for the local currency. The spot rate touched an intraday high of N1480 per dollar, versus N1486 in the previous day, which suggests the absence of…

NGX Soars by N446bn as Wema Bank Lists Shares The Nigerian Exchange (NGX) surged by about N466 billion on Tuesday as Wema Bank listed additional shares in the local bourse. Hence, the All-Share Index (ASI) advanced, and the year-to-date return surged further ahead of the Independence Day holiday.  Data from the Nigerian bourse revealed that the market index climbed by 0.23%, adding 331.15 basis points to close at 142,708.71. However, market capitalisation gained ₦465.86 billion, representing a 0.52% increase to settle at ₦90.58 trillion. The difference in the market indicators – the NGX index and the market capitalization was as…

Policy Rate Cut to Reduce Nigerian Banks’ Profitability –Comment Nigeria’s policy rate cut will weigh on domestic banks profitability, Moody’s Ratings said in a commentary note released after the Central Bank committee decision last week. The CBN lowered its monetary policy rate by 50 basis points (bp) to 27%, and reduced the cash reserve requirement (CRR) for commercial banks to 45%. It was the first policy rate cut since 2020, reflecting improved macro indicators and the need to drive economic growth.  The CBN also adjusted the standing facilities corridor around the monetary policy rate to plus or minus 250 basis…