Author: Julius Alagbe

Honda, Nissan End Merger Talks as Disagreements Deepen Honda Motor Co. and Nissan Motor Co. have decided to terminate discussions on a potential merger, ending the restructuring attempt to create one of the world’s largest automotive groups. Both companies held board meetings on Thursday, where they agreed to withdraw the basic agreement signed in December 2024 and officially end merger discussions, according to local media reports. Honda would hold an online press conference at 4:50 p.m. local time (0750 GMT) regarding details of the decision. The two companies initially focused on forming a holding company that would oversee both brands.…

Food Security: FG Moves to Recapitalise Bank of Agriculture The Federal Government, FG, has announced plans to recapitalise the Bank of Agriculture (BOA) to enhance food security and make food more accessible and affordable to Nigerians. Sen. Aliyu Abdullahi, the Minister of State for Agriculture and Food Security, made this statement when the Emir of Borgu Kingdom, Niger, Dr Muhammad Dantoro, visited him on Wednesday in Abuja. Abdullahi emphasised that the government was reforming the Bank of Agriculture to better serve Nigerians. “We are reforming the Bank of Agriculture to serve Nigerians. We are recapitalising the Bank of Agriculture to…

Federal Government to Revive Textile Industry- Minister The Federal Government has pledged its commitment to revive the textile industry, its value chains, as well as promote made in Nigeria goods. Minister of State for Industry, Trade and Investment, Sen. John Enoh made the pledge on Wednesday in Lagos, during his visit to Sunflag Nigeria Ltd., on a three day industrial tour. Enoh noted that key agendas of the President Bola Tinubu’s administration, included economic growth, through manufacturing and job creation. The minister said that several years ago, the textile industry, competed almost fairly with government, in terms of employing Nigerians.…

Investors Park Funds in Nigerian Bonds Ahead of Inflation Demand for Nigerian government bonds on the rise amidst expectation that a move to rebase consumer price index will usher in monetary policy easing. Lower inflation figure would mean that the Central Bank of Nigeria (CBN) would temper hawkish position to drive economic growth. “If the CBN eventually cut benchmark interest rate, the fixed income market assets will also be repriced – spot rates would started dropping to reflect new market dynamics’, analysts explained. Hence, investors have continued to increased bets on fixed income market, with surging demand for bonds as…

Nigeria to Host 2025 Afreximbank Annual Meetings The Federal Government and African Export-Import Bank (Afreximbank) on Tuesday signed the Agreement for Nigeria to host the 32nd Afreximbank Annual Meetings (AAM). Speaking at the Afreximbank Annual Meetings 2025 Signing Ceremony in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said that President Bola Tinubu approved the hosting. “We are, therefore, delighted to work with Afreximbank management and give them our full support,” Edun said. He commended Afreximbank’s commitment to supporting Africa and Nigeria’s economic growth and improving their healthcare infrastructure in particular. ” We are…

Oil Climbs on Supply Worries, Trump Tariffs Check Gains Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and sanctions threats, despite worries that escalating trade tariffs could dampen global economic growth. Brent crude futures were up 98 cents, or 1.3 per cent, at 76.85 dollars a barrel by 1011 GMT, while U.S. West Texas Intermediate crude rose 92 cents or 1.3 dollars to 73.24 dollars. Both contracts posted gains of nearly 2 per cent in the prior session after three weekly losses in a row. PVM oil analyst John Evans said “with the U.S.…

Transcorp, Tier-1 Banks Drive Intraday Gain on NGX Transcorp Plc, and Zenith Bank, UBA and FCMB are among top stocks driving intraday momentum in the equities segment of the Nigerian Exchange, NGX, on Tuesday as investors’ sentiment remains upbeat. The local bourse is trading positive after mixed performance posted yesterday. The new shares listed by Zenith Bank raised equities market capitalisation above N66 trillion, though key index slipped on the day. Reflecting renewed interest in some value stocks, demand has started heating up on the exchange ahead of anticipated consumer price index rebasing. At mid-day, the NGX All Share Index…

British Pound Falls Amidst Hawkish to Dovish Policy Shifts The British pound fell to $1.236, its lowest level in nearly three weeks, after BoE policymaker Catherine Mann stated that weak demand in the UK outweighs inflation risks. The sterling retreated while demand for US dollar picked on the back of tariffs combat threats by the U.S government under Donald Trump. This shift in stance came after Mann transitioned from a hawkish to a dovish position at last week’s meeting. She noted that demand conditions in the UK are “quite a bit weaker” than before, which is dampening consumer spending and…

Dangote Peugeot Begins 3008 GT Assembly in Kaduna The official manufacturer and marketer of the Peugeot brand of vehicles in Nigeria, Dangote Peugeot Automobiles Nigeria Limited (DPAN), has taken another bold step towards regaining its leadership position in the auto market. This time, DPAN has commenced the assembly of the GT model of the wave-making Peugeot 3008, which has hit commercial success and won awards with its different variants in various markets across the world. With its 1.6 litre high performance turbo engine, Peugeot 3008 GT has expanded the existing line-up of vehicles from the assembly lines of the modern…

Interbank rates mixed as liquidity shortfall in the banking system declined following huge inflows from Nigerian bond coupon payments at the beginning of the week.