- Market Cap Slips as Nigerian Exchange Halts 2-Week Rally
- Germany Approves 17-Cent Fuel Tax Cut To Ease Pump Prices
- Trump to Xi: China Helping Iran Is Unacceptable
- Dangote To Fund $660m Fuel Pipeline Between Ethiopia And Djibouti
- NNPC Ltd Welcomes $800m Ima Gas Final Investment Decision
- Iran Proposes 7-day Plan to Reopen Strait of Hormuz
- Ethereum Price Drops on Rising U.S. Treasury Yields
- Crude Oil Prices Decline, Brent Hovers Below $106
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.
Enugu, Austrian Firm Sign $100m Infrastructure Deal The Enugu State Government and Austrian firm WANDE NEXUS signed a $100 million deal to implement Sustainable Last Mile Connectivity and Advanced Metering Infrastructure (AMI) Project in Enugu. With the signing, which took place at the Government House, Enugu, in the presence of the Austrian Ambassador to Nigeria, Thomas Schlesinger, the firm will be injecting the fund as Foreign Direct Investment (FDI) to modernise water infrastructure. In a speech, Gov. Peter Mbah described the signing as an example of the relationship that could exist between a sub-sovereign and a sovereign, as well as…
Developing countries spent a record $1.4 trillion to service their foreign debt as their interest costs climbed to a 20-year high in 2023, the World Bank’s latest International Debt Report shows.
Interbank Rates Dip as FAAC, Remita Inflows Boost Liquidity In the money market, the short-term benchmark interest rates dipped significantly on the back of additional inflows, which boosted liquidity balance in the financial system. Data showed that interbank rates retreated sharply as a flood of inflows lifted liquidity balance from the deficit position that it had sustained for weeks. Amidst liquidity struggles, banks borrowed a total of N8.3 trillion from the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) to fund their operations and close deficits. Analysts said borrowing activities from the CBN window would reduce drastically as the…
Port Harcourt Refinery Resumes Full Operations after Brief Scale Down The Port Harcourt refinery has resumed full operations after a brief “scaling down”, Mr Ibrahim Onoja, the company’s Managing Director has said. Addressing newsmen after a facility tour of the refinery on Sunday night, Onoja said the facility had resued distribution of products, including Premium Motor Spirit, kerosene, and diesel. ”The refining plant has undergone extensive upgrades to enhance efficiency and reliability which had also impacted on production capacity. ”We replaced most of the equipment including pumps installation and cables. “The plant is running and we are trucking out our…
Moody’s Ratings has changed the outlook on the Government of Angola to stable from positive and affirmed the country’s foreign and local currency….
Employment in Euro Area Worsened as Services, Manufacturing Deteriorate The Euro Area’s manufacturing sector deteriorated further in November, with the Hamburg Commercial Bank (HCOB) Eurozone Manufacturing PMI dropping to 45.2, indicating sharper contractions in production, new orders, purchasing, and inventories. Employment saw its steepest decline since August 2020, led by Germany and Austria. Weak demand drove aggressive price discounts, while operating costs fell slightly for the third month. Key economies, including Germany, France, and Italy, faced significant downturns, while Spain and Greece showed slower improvements. Backlogs fell sharply, reflecting persistent overcapacity. Despite subdued historical levels, business confidence ticked up to…
The global cryptocurrency market opened with mixed sentiment on Monday after the top 10 crypto assets overnight rallied
The naira suffered losses against the US dollar despite the fact that the Central Bank of Nigeria (CBN) intervened twice this week.
China, Nigeria to Partner on Renewable Energy, Smart City Mr Fang Qiuchen, Chairman of China lnternational Contractors Association (CHINCA) has revealed plans for China and Nigeria to collaborate on new energy projects, digital smart cities, and infrastructure development. Fang made the announcement in Abuja at a sideline interview with newsmen during the opening of China-Africa Economic and Trade Expo (CAETE) Exhibition in Africa (Nigeria). He said that the longstanding relationship between China and Nigeria, dating back to 1991 would be leveraged to share China’s advanced technology in various sectors, particularly infrastructure. According to fang, the partnership would address Nigeria’s energy…
The naira strengthens against the US dollar across foreign exchange markets as inflows from international oil companies and foreign portfolio investors boost liquidity. Spot data from the FM