Author: Julius Alagbe

NPA, NLNG Collaborate to Boost Nigeria’s Export Growth Abubakar Dantsoho, the Managing Director, Nigerian Ports Authority (NPA), has reaffirmed the authority’s commitment to strengthening its partnership with the Nigerian Liquefied Natural Gas (NLNG) to boost exports. A statement by the NPA said that Dantsoho made the pledge when he received the NLNG’s Chief Executive Officer, Dr Philip Mshelbila, at its headquarters in Lagos on Tuesday. Speaking during the visit, Mshelbila expressed the Nigeria LNG’s appreciation for the NPA’s continued support, and solicited increased synergy. He said that the company was expanding its LNG production capacity to take advantage of increased…

Equities Investors Gain N10bn as Nigerian Exchange Rebounds Equities investors gained N10 billion on the Nigerian Exchange (NGX) as investors sentiment improved at the beginning of the week. The local bourse resumed trading activities for the new week on a positive note, as the market performance indicators saw marginal growth of +0.02%. This slight upturn was attributed to bargain hunting in some medium and large-cap stocks, such as CAVERTON, NASCON, and TRANSCORP, among others. Stockbrokers at Atlass Portfolios Limited said these gains helped lift the bourse out of the red zone. The market lost N1.45 trillion last week due to…

Ban: Trump Wants 50% U.S. Ownership of TikTok U.S. President-elect Donald Trump on Sunday told his supporters that he wants Chinese-owned short-form video app TikTok to be at least 50 percent owned by U.S. investors. On the eve of his swearing-in, Trump told a rally in Washington that he would allow the app to continue operating in the U.S., “but let the United States of America own 50 per cent of TikTok.” “TikTok is worth nothing, zero without an approval,” to operate, Trump said. “If you do approve, they’re worth like a trillion dollars, they’re worth some crazy number. “I’m…

Nigerian Eurobonds Yield Dips to 9.4% as FPIs Appetite Rises The average yield on Nigeria’s sovereign US dollar bond declined in the international market as foreign portfolio investors (FPIs) appetites improved. The yield declined by 2 basis points to 9.44% as offshore investors boosted their portfolios with Nigerian Eurobond, according to Cowry Asset Limited. Market analysts spotted demand for NOV-2025, NOV-2027, SEP-2028, MAR2029, FEB-2030, JAN-2031, FEB-2032, and FEB-2038 tenors. The Eurobond market experienced a volatile week, facing a bearish trend as prices in Sub-Saharan Africa and North African regions plummeted due to reduced expectations for Fed rate cuts following a…

Treasury Bills Yield Dips to 25.2% Ahead of Midweek Auction The average yield on Nigerian Treasury bills dipped to 25.2% as investors’ interest in naira assets increased amidst buckets of uncertainties in the local economy. The inflation rate is trending higher, and the exchange rate conditions have continued to drive appetite sideways in the fixed income market segment with a widening real return on investment. There was a mixed trading pattern in the fixed income market generally, with a significant selldown in local bonds ana risingng appetite for Treasury papers after data showed the inflation rate widened. The Treasury bills…

Bitcoin Nears $108K as U.S President Launches Meme Coin The bitcoin price surged to a record high on Monday after U.S. President Donald Trump launched a meme coin that boosted crypto community sentiment. Trump has promised to be crypto-friendly and is expected to issue executive orders aimed at reducing crypto regulatory roadblocks and promoting widespread adoption of digital assets. Data from Crypto Exchange revealed that the world’s largest digital asset surged past $107,000, up by about 16% in 7 days in the market as the rally persisted. The second largest crypto asset, Ethereum, price increased near $3,400 at the same…

Trump’s Meme Coin Frenzy – Experts Warn of Risks Donald Trump’s launch of the $TRUMP meme coin is sending shockwaves through the cryptocurrency market, with the coin’s valuation skyrocketing by over 300% in less than 24 hours. As of Sunday morning, $TRUMP hit a market cap of $5.81 billion, marking the former president’s bold foray into digital assets and merchandise sales ahead of his upcoming inauguration. Announced on Truth Social late Friday, $TRUMP was described as a celebration of Trump’s “WINNING” the presidential election. The coin, built on Solana’s blockchain platform, debuted with a limited supply of 200 million coins.…

Dangote Sugar Gains 17% Amidst Negative Earnings Expectation Dangote Sugar Refinery Plc.’s market value rose by about 17% in the last five trading sessions on the Nigerian Exchange (NGX) due to increased buying interest on expectation that the company’s losses will moderate in the fourth quarter of 2024. The positive price movement, which was supported by investors renewed interest in the company’s future earnings outlook, has reduced its discounted value on the local bourse. Dangote Sugar Refinery Plc has reported huge losses successively amidst a tough operating environment. Its unimpressive earnings performance triggered massive sell pressures on the company’s shares…

GTCO Crossed N1.7 Trillion, Q3 Profit Raised Earnings Bar Nigeria’s multinational financial services group, Guaranty Trust Bank Holdings (GTCO) Plc, whose market value crossed N1.7 trillion, has remained steady over the last five trading sessions on the Nigerian Exchange. The most valuable Nigerian bank on the stock market saw its share price breaking series of resistance in the last quarter of 2024. The significant surge in its market value was bolstered by strong earnings beat in the first nine months of financial year 2024.  GTCO’s financial performance in the first nine months of 2024 reflects strong growth and resilience, positioning…

Zenith Bank Nears N1.47Trn on Healthy Earnings Expectations Zenith Bank Plc market value expanded slightly near N1.47 trillion in the equities segment of the Nigerian Exchange amidst healthy earnings growth expectations. The bank’s share price increased slightly to N46.8 in the equities market in the just concluded week from the opening price of N46. At the current market price, Zenith is trading at a less than 1% discount to its 52-week high in the stock market amidst healthy earnings expectations for 2024. With an upward adjustment to its target price, equities analysts said the financial services company intends to capitalise…