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- NMDPRA Sets Sept. 2028 Target for Willing Buyer, Willing Seller Gas Market.
- MDGIF Attracts N1.6trn Private Investment for Domestic Gas Infrastructure
- Nigeria Demands 2 Permanent UN Seats, Veto Powers for Africa
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.
FBN Holdings Keeps Uptrend Ahead of ‘Offer’ Pricing FBN Holdings (FBNH) Plc has continued to recover from the selling spree that plunged the banking group’s stock market price down by more than 50% to its 52 week high. The share price of the elephant branded group warehousing First Bank of Nigeria Limited spiked further in the equities market to N33.90, according to data obtained from the Nigerian Exchange. In two trading sessions, FBN Holdings Plc has gained about 17%, up from N29 per share to N33.90. The latest price movement has nudged market valuation of FBN holdings to N1.216 trillion.…
Oil Prices Dip on US Crude Stock Build, Fed Rate Cut Oil prices fell as data indicate an unexpected increase in crude inventories in the US, the world’s biggest oil consumer. The bearish session in the global commodities market was supported by a 50 basis point rate cut by the US Federal Reserves. Analysts see energy cost pressure easing gradually as the Fed slashed rate on Wednesday, the first easing cycle since 2022. Brent crude decreased to $73.28 per barrel. US benchmark West Texas Intermediate (WTI) declined 0.61% to $69.53 per barrel after closing at $69.96 in the prior session.…
Geregu Power Sets for Fresh Uptrend, Hits All-Time High Geregu Power Plc has set a fresh record, breached resistance to a new all-time high on the Nigerian Exchange (NGX) platform as investors’ eye utilities stock. Its share price has gained 15% in two trading sessions, up from N1,000 to N1,150 as investors traded huge volumes of shares on the NGX platform. The power generating company share had stopped moving even after its impressive earnings outing in the first half of 2024. Share price of Geregu Power Plc had settled at N1,000 for months, the best it had reached since it…
Fidson, Chinese Firms to Build Pharmaceutical Plant in Lagos Fidson Healthcare Plc has signed a Strategic Cooperation Memorandum with Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the China-Africa Development Fund in Beijing, China, to build a pharma plan in Nigeria. In an official statement, the healthcare company said the signing ceremony took place during a visit by a team from Nigeria led by Dr. Fidelis Ayebae, the founder and Managing Director of Fidson Healthcare Plc. Fidson said the 4 (four) parties have agreed to actively leverage their respective strengths to establish a new joint venture pharmaceutical plant project in Nigeria. This…
Nigerian Treasury Bill Selloffs Provoke 10bps Yield Surge It was seller market during the midweek in the secondary market as investors unbundled their naira asset portfolio. The average yield on Nigerian Treasury bills jumped by 10 basis points to 20.52% due to a selling spree on the naira assets. The bearish pattern has been the same, a move that started on the back of declining spot rates at the central bank primary market auctions. In a successive manner, spot rates on Treasury bills across standard maturities were hacked as inflation began to recede. Nigeria recorded its second disinflation in the…
Investors, bondholders refused to give up Federal Government of Nigeria (FGN) bond buying in the secondary market after disinflation raised real return on naira assets.
Interbank rates crossed the 31% benchmark as the liquidity level in the financial system remains in negative territory. Due to a weak funding profile in the financial system, money market rates have remained elevated.
US Federal Reserve slashed fed fund rates by 50 basis points (bps) as hawkish monetary policy has now expired. In a statement, the Fed said recent indicators suggest that economic activity has continued to expand at a solid pace.
Equities investors trading highs and lows on the Nigerian Exchange (NGX) platform gained more than N316 billion due to positive price appreciation is some bellwethers on Wednesday.
The naira soared by more than 7% to N1,539.65 against US dollar in the official foreign exchange (FX) market on the influence of the Central Bank of Nigeria’s (CBN) move to reset exchange rate direction.