Author: Julius Alagbe

US Dollar Rises Against Trading Pairs in Forex Market The US dollar (USD) rose against its major trading partners early Thursday, except for a decline versus the Japanese yen after a hawkish Bank of Japan comment. The dollar index, DXY, is roughly 2% off its recent highs, and the question for investors is whether a further 1-2% is required, ING analyst Chris Turner said in a note. Driving this correction have been several factors, the largest of which has probably been this week’s tariff news, where it looks like the President Trump administration has been using tariffs for transactional, not…

Fitch Keeps Dangote on Rating Watch Negative Fitch Ratings has maintained Dangote Industries Limited’s (Dangote) National Long-Term Rating of ‘B+(nga)’ and Dangote Industries Funding Plc’s senior unsecured debt rating of ‘B+(nga)’ on Rating Watch Negative (RWN). The RWN reflects the uncertainty related to the group’s ability to repay or refinance maturing debt in 2025, with the earliest maturity in February 2025, Fitch said. According to the rating note, the company is in talks with its lenders to refinance the debt under new terms, which could include amendments and extensions of the overall debt maturities. Fitch said a lack of tangible…

The Nigerian local currency, the naira, dipped slightly against the US dollar in the official window over mild FX pressures. This week, the naira has been trading negative against the US dollar amidst declining external reserves.

USD Falls Against GBP, EUR Ahead of Busy Economic Data The US dollar (USD) fell against its major trading partners GDP, EUR, and JPY before another busy day of economic data releases and appearances by Federal Reserve officials. The dollar has continued to lose ground since the US border deal with Mexico and Canada was agreed on Monday. The focus is now on China, and a relatively measured response by Beijing to Trump’s tariffs is keeping markets optimistic that some deal can be struck before China’s retaliatory tariffs kick. “We note that AUD/USD—a key proxy for China sentiment—has entirely erased…

Live Trade: Investors Take Positions in Access Holdings Equities investors are taking positions in Access Holdings Plc shares during early trading hours on the Nigerian Exchange, NGX. Data shows that about 13 million shares valued at N343.6 million have already exchanged hands between buy and sell side actors in the local bourse. Hence, Access Holdings Plc market value has increased by 1.34% due to an early rally in the equities segment. Its share price is currently at N26.50, ahead of earnings expectations. At the moment, the market is waiting for the financial services group’s earnings, with some stockbrokers saying the…

Nigeria Launches National Broadband Alliance to Drive Digital Economy In a major move to facilitate its digital transformation agenda, Nigeria has officially inaugurated the National Broadband Alliance for Nigeria (NBAN). The initiative is aimed at accelerating the country’s digital growth and bridging broadband gap. The Executive Vice Chairman of the Nigerian Communications Commission, Dr Aminu Maida announced the development during the inauguration of NBAN in Lagos on Tuesday. Maida stated that NBAN represented a transformative step forward in Nigeria’s digital future, going beyond just building broadband infrastructure, but to create a foundation for sustainable growth, social inclusion, and economic transformation.…

Nigerian Bonds Yield Falls Amidst Multiple Expectations The Nigerian bonds traded on a quiet note in the secondary market, albeit with a bullish undertone, as the average yield pared by a basis point to close at 20.2% on Monday. Most transactions were concentrated in the Feb 2031 and Jan 2035 bond papers.  The market is currently filled with multiple expectations. One of these is inflation rate direction and expectation over what the monetary policy authority will do to the policy rate in February. Some analysts expect the Central Bank of Nigeria (CBN) to increase the interest rate benchmark at the…

Trade War: China Retaliates with Higher Tariffs on U.S Goods China has imposed tariffs of 15 percent on imports of coal and liquefied natural gas (LNG) from the United States in retaliation for Washington’s 10 percent levies on Chinese goods. On Tuesday, Beijing announced that there would be 10 percent tariffs on imports from the US of crude oil, agricultural machinery, large-displacement vehicles and pick-up trucks. The new measures were in response to the “unilateral tariff hike” by the US, China’s Ministry of Finance said, adding that Washington’s decision “seriously violates World Trade Organisation rules, does nothing to resolve its…

Jaiz Bank Hits Record High After Earnings Beat Jaiz Bank Plc traded at a 52-week high in the equities market following higher demand for the Islamic lender stocks on the Nigerian Exchange. Key events acting as catalysts for improved investors’ sentiment include recent new capital base achievements and earnings surge. According to data obtained from the local bourse, Jaiz Bank share price rose to N3.3, its highest price in 52 weeks, from N3.26 on the back of huge volume of shares traded in the market. The positive price movement, albeit marginal, raised the non-interest bank’s market value to N147 billion…

OPEC+ to Monitor Adherence to Oil Production Adjustment The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries (OPEC+) have reaffirmed commitments to monitor production adjustment aimed at maintaining stability in the global oil market. The OPEC made this known in the resolution of its 58th Meeting of the Joint Ministerial Monitoring Committee (JMMC) which held via videoconference on Monday. The meeting reviewed the crude oil production data for November and December, 2025 and highlighted the overall conformity for OPEC and non-OPEC countries involved in the Declaration of Cooperation (DoC). “The improved conformity further reaffirms the DoC countries’ shared objectives…