Author: Julius Alagbe

Top 10 Largest Countries Debt to Surpass $64trn, US Drives Surge—Fitch Government debt among 10 of the largest developed markets is set to continue rising sharply, exceeding USD64 trillion, which is 115% of GDP, by the end of 2025, Fitch Ratings says in a new quarterly Developed Market Sovereigns Debt Sustainability Monitor. According to Fitch’s debt sustainability monitor, this marks a dramatic increase from USD 25 trillion, or 72% of GDP in 2007, with over two-thirds of the growth attributable to the US. The recently enacted One Big Beautiful Bill Act will entrench high US budget deficits over the medium…

Commodities Exchanges, Warehouses Can Unlock $500bn – Agama The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, says that formalising commodities and warehouse receipts in the capital market can unlock $500 billion in dormant agricultural and mineral assets. Agama said this at the workshop the 2025 Workshop of the Chartered Institute of Stockbrokers (CIS) on Tuesday in Abuja. He said the move would transform the receipts into tradeable securities, help the economy diversify from the oil and gas industry, and create wealth for the country. Agama explained that the Investments and Securities Act (ISA, 2025) had empowered…

MPC Keeps Interest Rate Benchmark at 27.5% The Central Bank of Nigeria’s (CBN) monetary policy committee (MPC) retained the benchmark interest rate at 27.5% after the conclusion of the two-day meeting in Abuja. The committee also retained the asymmetric corridor around the policy rate at +500 bps/-100 bps. MPC also retained the cash reserves ratio (CRR) for deposit money banks at 50.0% and merchant banks at 16.0%. The liquidity rate is kept at 30.0%. The decision came after National Bureau of Statistics (NBS) released revised GDP figures, selecting 2019 as the new base year due to its relative economic stability…

Banking, Industrial Stocks Drive Intraday Rally on NGX Banking and industrial stocks, among others, are driving the intraday rally on the Nigerian Exchange (NGX) amidst sustained bargain hunting that has lifted the year-to-date return above 28%. The local bourse is booming with heated-up bargain hunting, fueled by demand for some light- and heavyweight listed companies shares on Tuesday. The Nigerian Exchange market capitalisation surged by N152 billion as companies began to release the first half of 2025 financial statements. Stockholders are taking positions with an expectation that dividend aristocrats in the market will not miss opportunities to impress their shareholders,…

Banking System Liquidity Crunch Elevates Money Market Rates The short-term benchmark interest rates pricing are currently at double-digit highs in the money market as the liquidity crunch facing the banking system persists. Interbank rates remained elevated, reflecting limited funding accessible by Nigerian banks and other financial institutions active in the money market segment. The limited funding profile pushed deposit money banks to the Central Bank of Nigeria (CBN) standing lending facility to raise funds to finance their operations. The market experienced a liquidity crunch even without main auctions in the absence of additional inflows from maturing bills. Instead, the AMCON…

Oando to Raise N500bn, Convert $300m Debt to Equity Indigenous energy company Oando Plc has revealed plans to raise N500 billion in fresh capital via public offers as part of an effort to expand its operations and convert $300 million in debt to equity amidst an expansion drive. At the annual meeting scheduled for August 11, the energy company will be seeking shareholders authorisation to raise the amount or its foreign currency equivalent in the Nigerian and/or international capital markets. Details obtained from its regulatory filing revealed that Oando will also be seeking shareholders’ approval to issue up to 10…

Equity Investors Gain N152bn as BUA Cement, Presco Rally Equity investors’ portfolio value increased by N152 billion following positive price movement in BUA Cement and PRESCO, supported by gains posted by some lightweight stocks amidst mixed expectations on interest rate adjustment. The local bourse gained more weight amidst the monetary policy committee of the Central Bank of Nigeria (CBN) committee meeting, which started in Abuja today. Intraday trading data showed sentiment had waned during early trading hours, but strong buying interest in some blue-chip stocks, PRESCO (5.1%) , BUACEMENT (5.2%) , and others, helped overturn the bearish sentiment and steered…

CSCS Inaugurates Custodian Portal to Enhance Digital Access Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure, and efficient features. Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday. The CSCS is a Public Limited Company with a diversified shareholder base, which serve as the Central Securities Depository for the Nigerian Capital Market. It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN…

CBN to Float N290 Billion Treasury Bills for Subscription The Central Bank of Nigeria (CBN) is scheduled to float N290 billion worth of Nigerian Treasury bills for investors subscription at the primary market auction (PMA) on Wednesday. This revealed that the offer size is below N326.88 billion in Treasury bills that will mature across standard maturities in the week. The outcome of the monetary policy committee meeting is expected to reflect on spot rates pricing at the main auction to be held by the Debt Management Office (DMO) on behalf of the CBN.  “In our view, the fixed income market…

BUA Cement Soars by 31% Amidst Anticipated Earnings Release A top member of Nigeria’s cement oligarchy, BUA Cement Plc, soared by more than 31% over four days of positive price movements in the equity market as earnings release expectations boosted investors’ sentiment. With an expectation of an interim dividend, buying activities on the cement company shares heated up. Stockholders bolstered their positions via open trading, betting on the company’s future earnings streams and solid cash flow positions sufficient enough to cover interim dividends. The Nigerian bourse’s trading data revealed that the cement company’s share price reached N123.4 after more than…