- Iran Plans to Restore 3mbpd Oil Production in 60 Days
- Aradel Grows Profit by 192%, Declares N23 as Final Dividend
- Dangote Cement Sells 64% of Production Volume to Nigerians
- Naira Tumbles as Interbank FX Turnover Drops by 43%
- XRP Rises as HKIMR Recognises Ripple for Cross-Border Payment
- ETC- Ethereum Classic Gains 6% on Listing Speculation
- Bitcoin Climbs, JP Morgan Says BTC Trades Below Mining Costs
- Equities Investors Lose N939bn as Banking Index Tumbles
Author: Julius Alagbe
Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.
Sanwo-Olu Presents N3trn 2025 Budget to House of Assembly Governor Babajide Sanwo-Olu of Lagos has presented a N3,005,935,198,419,3,005,935,401 budget proposal to the Lagos State House of Assembly for 2025. The budget tagged “The Budget of Sustainability” was presented on Thursday. “This budget comprises a total revenue of 2,597,034,000,000 and a deficit financing of about N408,002,000,000. “The total revenue comprises internal revenue generated at N1,107,897,000,000 and a total tax cut of N660,137,000,000. “We have proposed a recurrent expenditure of N1,239,818,000,000. “The total overhead cost is N722.586 billion, as follows: overhead: N432.580 billion, subventions: N139.728 billion, dedicated funds: N150.278 billion, total personnel…
Equities market capitalisation of the Nigerian Exchange (NGX) shrank by about N108 billion as investors dumped Oando energy and Access Holdings.
On Thursday, the price of bitcoin surpassed $98,000 for the first time, sustaining market expectations of better, more lenient regulations in the cryptocurrency market.
Lafarge Africa and Transcorp Plc are currently driving an uptrend on the Nigerian Exchange (NGX) during early trading hours in the equities market.
Prices of crude oil increased as Russia-Ukraine tensions heightened. Ukraine fired a US-made missile into Russia earlier in the week. Brent crude rose to $73.08 per barrel, while the US benchmark West Texas Intermediate also increased to $69.05 per barrel.
Bolstered by improved sentiment, the equities market capitalisation of the Nigerian Exchange (NGX) recorded about N167 billion in gain as investors took positions on banking, cement names, and others.
Sokoto Approves N950m to Complete Independent Power Project The Sokoto State Government has approved N950 million for the completion of 38-megawatt Independent Power Project (IPP) started in 2008. The Commissioner for Information and Culture, Alhaji Sambo Danchadi, disclosed this after the State Executive Council (SEC) meeting on Wednesday in Sokoto. Danchadi said the IPP project, started by former Gov. Alhaji Aliyu Wammako administration in 2008, aimed at providing 24-hour electricity to the state. He said the project would generate 38 megawatts of electricity when completed, assuring that the project would no doubt rejuvenate social and economic activities across the state.…
The bitcoin price tested $94,000 before the world’s largest cryptocurrency retreat on improved sentiment. This first time trading level of $94,000 happened after a report that Donald Trump’s social media company was in talks to buy crypto trading firm Bakkt.
The Pension Fund Operators Association of Nigeria (PenOp), has expressed concerns over proposals from the Nigeria Police Force (NPF), to exit the Contributory Pension Scheme (CPS) to Defined Benefits Scheme (DBS).
Tinubu Seeks Senate Approval of 2025–2027 Fiscal Framework President Bola Tinubu has formally transmitted the 2025–2027 Medium-Term Fiscal Framework (MTF) and Fiscal Strategy Paper (FSP) to the Senate. Tinubu is seeking prompt legislative approval of the documents to guide preparation for the 2025 budget. In a letter addressed to the President of the Senate, Godswill Akpabio, Tinubu said that the MTEF/FSP had been approved by the Federal Executive Council (FEC) during its meeting on Nov. 10. He said that the 2025 budget would be prepared based on the parameters and fiscal assumptions outlined in the MTF/FSP. “It is imperative to…