Author: Julius Alagbe

President Bola Tinubu says the Forum on China-Africa Cooperation (FOCAC) has been instrumental to the flourishing economic partnership and trade between Africa

The crude oil market remained in the grip of bearish investors as demand concerns overshadow efforts by the Organization of the Petroleum Exporting Countries to

Nigeria’s Eurobond Yield Rises to 10% as Selloffs Persist Nigeria’s US dollar bond or Eurobond yield climbed above 10% due to the latest selling rally in the international capital market. Investors sold down their interest ahead of the US Fed rate cut this month. The risk off sentiment was seen across the short, belly, and long end of the curve. Nigeria is still suffering an acute FX shortage, which has plunged the value of the local currency to an all time high. Benchmark U.S. government bond yields were hovering near a 14-month low on Thursday as traders awaited jobs data…

The Crude Oil Refinery-owners Association of Nigeria (CORAN) says the commencement of production of Premium Motor Spirit (PMS) by Dangote Refinery has

The Minority Caucus of the House of Representatives has condemned the recent increase in the price of petrol by the Nigerian National Petroleum Corporation

Benchmark Yield on Nigerian Bond Declines to 18.75% The average yield on the Federal Government of Nigeria (FGN) bond shed two basis points again in the secondary market. The yield contrasted as investors continued to ramp up naira assets in the secondary market. The buying momentum in the local bond market happened as investors expected the authority to tighten supply at the primary market. A decline in headline inflation also boosted increased demand for bonds in the market. The latest disinflation experience has effectively reduced negative interest yield or real return earned by fixed interest securities investors in the debt…

The Abuja Chamber of Commerce and Industry (ACCI) is collaborating with the African Export-Import Bank (Afrexim Bank) to foster agricultural innovation

Two-time runners-up, Nigeria’s under-20 women football team, the Falconets, on Thursday  lost 1-3 to Germany in their second   Group D match at  the ongoing

Money Market Rates Jump as Liquidity Pressure Deepens Interbank rates skyrocketed in the money market as liquidity conditions failed to improve due to the absence of significant inflows from key sources. The market saw the liquidity balance in the financial system dropping to a negative level owing to funding pressures at the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) window. Banks pitched their tent at the CBN borrowing window after the apex bank lifted suspension on the facility to allow authorised dealer banks to access funds at about 32%. Analysts said higher rates often reflect on banks borrowing…

No Respite for Naira as Official, Parallel Market Rates Plunge The bleak outlook for the Nigerian local currency, the naira, has failed to fade as exchange rates worsened across the foreign currency market during the midweek trading session. The Naira lost ground against the US dollar in the official market, falling by 0.90% to close at ₦1,625.88, according to data from the FMDQ platform. Data from the Central Bank of Nigeria (CBN) is now showing that external reserves climbed for the first time since August 8, 2024.  Nigeria recorded $30 million in FX inflows, and the sum lifted the gross…