Author: Julius Alagbe

COP30: UN Chief Calls for Shift to Clean Energy UN Secretary-General António Guterres has continued his campaign to accelerate the global shift from fossil fuels to clean energy – “the cheapest source of new electricity in nearly every country.” The latest push came on Friday, in his remarks to the Energy Transition Roundtable in Belém, Brazil, held just days before the formal opening of the COP30 climate change conference. “The fossil fuel age is ending. Clean energy is rising. Let us make the transition fair, fast, and final,” he said. The UN chief told world leaders that “the global energy landscape is…

How to Invest in Nigerian Treasury Bills Fixed interest rate investments like Treasury bills are better than naked money put in a savings account. Guess what? Banks will use your deposit to increase their bets at the treasury bills primary market – and they will make money that you are willing to borrow. Spot interest rate slowed down by 10 basis points to 16.04% for one-year treasury bills papers. If N16 million is okay on your N100 million investment in treasury bills, you are on the right path. (You get the interest upfront.) Many of us don’t like to lose…

Naira Closed N15 Weaker, CBN Sells US Dollar to Banks The Nigerian naira closed this week N15 weaker against the US dollar as foreign portfolio investors (FPIs) reacted negatively to US President Donald Trump’s invasion threat over Christian genocide in the country. Demand for the US dollar increased above previous average as offshore investors exited their positions in the financial market after Trump’s planned military action. Still, the FX market traded largely stable, supported by a relatively liquid currency market, exporters, non-bank corporate inflows and softened support from the Apex Bank intervention. The naira saw a huge loss early in…

Nigerian Exchange Shrinks to N95trn as Sectoral Indexes Plunge The Nigerian Exchange (NGX) market capitalisation shrank to N95 trillion on Friday as selling rallies persisted in the local bourse. Price depreciation in key market movers dragged the local bourse southward. Investors trimmed stockholding across sectoral names as unimpressive banking and oil and gas performance triggered selloffs.  Profit-taking activities heated up as the market recorded losses in nine out of the last 10 trading sessions. The NGX All-Share Index fell 0.33% to 149,524.81 points, trimming year-to-date gains to 45.27%. The Nigerian stock market contracted by ₦318.78 billion to ₦95 trillion. Market…

South African Rand Steady Versus Dollar as FX Reserves Climb The South African Rand was steady versus the US dollar amidst reports of a surge in the country’s foreign reserves.  ZARUSD pair traded at 17.37 per dollar on Friday in the forex market, little changed from its previous close of 17.3750/USD. The currency has been spurred by higher metal prices, including gold, as global investors continue to seek safe-haven investment options, while anticipated slowdown in US Fed rate cuts boosts sentiment. SA Rand experienced early rally, then selloffs before it stabilised against the greenback while the country seeks to reverse…

China’s Foreign Reserves Surge to $3.343trn in October China’s foreign exchange reserves increased to USD 3.343 trillion in October 2025, up from USD 3.339 trillion in September and exceeding market expectations of USD 3.32 trillion. According to China’s State Administration of Foreign Exchange data, the value of the country’s foreign exchange reserves increased by 0.14%, or $4.7 billion, from September. The administration said that the US dollar index and global financial asset prices generally rose in October and that the increase in foreign exchange reserves was due to the combined effect of exchange transactions and changes in asset prices. Also,…

Tinubu Woos Investors, Says Nigeria Ready for Partnerships President Bola Tinubu has assured domestic and international investors of Nigeria’s openness and readiness for business partnerships. The President said this at the 39th edition of the Lagos International Trade Fair (LITF) organised by the Lagos Chamber of Commerce and Industry (LCCI) on Friday in Lagos. He said the country was open for business. The President was represented at the fair by the Minister of State for Industry, Sen. John Enoh. The 2025 edition of the fair will run from Nov. 7 to 16, showcasing the best of Nigerian entrepreneurship and ingenuity,…

GCR Assigns IR Rating of AA+ to Lagos State Govt’s N200bn Bond GCR Ratings has assigned an indicative long-term issue rating of AA-(NG)(IR) to Lagos State Government’s proposed up to N200 billion Series 4 Senior Unsecured Fixed Rate Bonds, with the Outlook accorded as Stable An Indicative Rating is denoted by an ‘IR’ suffix to indicate that a credit rating has been accorded based on review of final draft documentation and expectations regarding final documentation, GCR said. Ratings analysts added that the Indicative Rating is expected to convert to a final credit rating subject to the receipt of final documentation…

Lagos Opens N200 billion Bond for Investors Subscriptions Lagos State Government is in the Nigerian debt market to raise up to ₦200 billion from local bond issuance under the ₦1 trillion Debt and Hybrid Instruments Issuance Programme. The offer, which opened Thursday, Nov 6, is priced between 16.15% and 16.25%, is the largest issuance by the State, and proceeds from the bond will be applied to financing priority physical and social infrastructure projects across the State. In separate notes, Investment firms said the 10-year Lagos bond offer will be executed by way of Book Build and is scheduled to close…

Oil Prices Edge Higher over Tight Supply Concerns Oil prices edged higher on Friday as Western sanctions on Russia continued to tighten supply and fuel geopolitical uncertainty, though weak demand signals capped further gains. International benchmark Brent crude was trading at $63.75 per barrel, up around 0.66% from the previous close of $63.33. The US benchmark West Texas Intermediate (WTI) also increased by about 0.74% to $59.83, compared to $59.39 in the prior session. Switzerland-based oil trading company Gunvor Group announced that it has withdrawn its offer to purchase the international assets of Russian energy company Lukoil. In a statement…