Author: Julius Alagbe

Eterna Names Olumide Adeosun CEO as Lawal Resigns Eterna Plc has announced the appointment of Olumide Adeosun as its new Chief Executive Office and Managing Director as Abiola Lawal resigned. The company told the Nigerian Exchange Limited that the appointment takes effect from 3rd February 2025. Mr. Adeosun succeeds Mr. Lawal, who has resigned from the company with effect from 31st January 2025, according to an official statement. Mr. Adeosun has over 25 years of experience in the finance and energy sectors; a seasoned thought leader and accomplished executive. He began his career as a Business Analyst under the PricewaterhouseCoopers…

Oil prices slid as pressure in the global commodities market eased following the announcement of a ceasefire agreement

Transcorp Power Plunges by 10% ahead of Earnings Transcorp Power Plc plunged by about 10% in the equities market as investors exited their positions in the power-generating company’s stock ahead of the fourth quarter earnings release. The activities of the sell-side actors reduced Transcorp Power Plc to N324 midweek from N359.90, losing 9.97% of its market value in one day. The huge price decline occurred over about 267,000 shares that exchanged hands in the Nigerian bourse on Wednesday. The significant price decline dragged the power-generating company’s market value to N2.430 trillion, according to data obtained from the Nigerian Exchange. Stockbrokers…

Equities Investors Lose N930bn as Dangote, Transcorp Power Plunge Equities investors on the Nigerian Exchange (NGX) trading platform have become casualties of the latest stock market rout, losing more than N930 billion on Wednesday as inflation rate spiked. The market faced significant sell pressure as investors sold down interest as inflation altered investors sentiment. The stock market bled profusely as the statistics office reported that inflation rate surged to 34.80% in December. Data from the Nigerian Exchange showed that key performance indicators declined by 1.47% while year-to-date return moderated further. Stockbrokers said the downturn was fuelled by significant sell-offs in…

Dangote Cement Slumps by 10% to N7.344 Trillion Dangote Cement Plc lost about 10% of its market value in the equities market as investors dumped the cement stock ahead of its fourth quarter of 2024 earnings release. The company share price nosedived by 9.98% on the day to settle at N431 as more than 170,000 shares of the cement stock exchange hands in the local bourse on Tuesday. Hence, the market value of the company’s 17.040 billion shares outstanding fell to N7.344 trillion, losing its position as the most valuable brand on the Nigerian Exchange to Airtel Africa and BUA…

Bitcoin, Global Crypto Market Cap Surge in Latest Rally Bitcoin, the global cryptocurrency market capitalisation surged on Tuesday as investors began to return to the space for another round of bet before Donald Trump inauguration. According to trading data, Bitcoin (BTC-USD) has rebounded above $66,000 on Tuesday as retail investors’ increased buying interest in the orange coin. Ethereum (ETH-USD) has also climbed by 5.34% in 24 hours to $3200, while Ripple (XRP-USD) has gained about 8% to $2.56. Both BNB-USD and SOL-USD are currently trending higher. Consequent to the latest rally, the global crypto market cap advanced strongly to $3.34…

Treasury Bills Yield Dips to 25.22% Amidst Inflation Fear The average yield on Nigerian Treasury bills dipped as investors showed appetite for long-dated instruments in the secondary market ahead of inflation. In their separate notes, analysts estimated that the inflation rate will rise further, with some projections taking the figure above 35%. On Monday, the segment opened the week on a relatively active note with a bullish tilt as local investors took position at the long end of the end with mild buying interest at the belly of the curve. Despite the buying appetite, trading activities were generally limited due…

Yield Rises as Sell Pressures Hit Nigerian Bonds Benchmark yield rose as investors in the bond market trimmed their holdings amidst expectations for the first quarter (Q1) of 2025 supply calendar from the Debt Management Office. The sell pressures that dominated three of the five trading sessions raised benchmark yield by 7 basis points to 19.7%. The negative sentiment was widespread across all tenors, with the medium-term instruments attracting the most sell pressure—an average yield uptick of 15 bps, Afrinvest Limited said in a note. Similarly, average yield on the short- and long-term bonds rose 12 basis points and a…

MTN Nigeria Exits Investors Relegation, Gains 21% in Fresh Rally MTN Nigeria Plc gained 21% in the equities market in a two-day rally driven by investors’ improved sentiment on telco shares in the local bourse. The stock, which had earlier entered relegation, began to attract investors’ attentions after the management localised its loan via deal renegotiation with service providers. Then, a successful clamour for a tariff hike has raised investors’ hope that the telecom giant would bounce back from delivering negative arnings. According to data from the Nigerian Exchange, the telecommunications company share price inched higher by 21% last week…

Rebasing to Drive Nigeria’s $1trn GDP, Lower Inflation Targets – Analysts Nigeria’s plan to rebase the nation’s gross domestic products (GDP) and consumer price index (CPI) that measure headline inflation is expected to make key macroeconomic indicators look good in 2025, analysts said in a note. The programme, which analysts think is overdue to reflect most recent economic data, was last conducted in 2014. The exercise at the time lifted Nigeria’s gross domestic product by about 89% to $510 billion. However, the economic size has reduced sharply due to exchange rate weakness, and an an unstable price level has nudged…