Author: Julius Alagbe

NCAA Okays Return of Commercial Flights At Ibadan Airport The Nigeria Civil Aviation Authority (NCAA) has approved the commencement of scheduled flight operations at the Samuel Ladoke Akintola Airport, Ibadan. This was disclosed in a statement issued in Ibadan on Wednesday by the Special Adviser on Media to Gov Seyi Makinde, Dr Suleimon Olanrewaju. According to Olarenwaju, the approval is contained in a letter dated Dec. 16 by the NCAA, and addressed to the Managing Director of the Federal Airports Authority of Nigeria (FAAN). “In the letter, the NCAA approved the issuance of a provisional interim operational permit for the…

Ghana Unlocks Access to $385 Million IMF Loan Ghana unlocked a fresh access to $385 million in loans from the Executive Board of the International Monetary Fund (IMF) on Wednesday following the completion of the fifth review of the US$3 billion, 39-month Extended Credit Facility (ECF) Arrangement, which was approved by the Board in May 2023. Completion of this review allows for an immediate disbursement of about US$385 million or SDR 267.5 million, bringing Ghana’s total disbursements under the arrangement to about US$2.8 billion. According to IMF, Ghana’s IMF-supported reforms are yielding results after last year’s policy slippages. Growth through…

Beyond the Showroom: Economic Shift in How Nigerians Trade Vehicles The Nigerian automotive sector has long been a bellwether for the broader economy. From foreign exchange (FX) fluctuations affecting import tariffs to the rising cost of logistics, the price of a “Tokunbo” or Nigerian-used vehicle tells a story of economic resilience. However, a quiet revolution is taking place—not at the ports, but on the cloud. As inflation tightens consumer spending, the traditional model of physical car lots is facing an efficiency crisis. In response, digital marketplaces are stepping in to bridge the gap between nervous buyers and liquidity-seeking dealers. Leading…

Lekki Deep Sea Port Reaches Half of Its Designed Operational Capacity The Managing Director of Lekki Port LFTZ Enterprise Ltd., Mr Wang Qiang, says the port has reached half of its designed operational capacity, with steady growth in container throughput since September 2025. Qiang made the disclosure during an end of the year media parley with journalists on Tuesday in Lagos. He said that the port was now operating at close to 50 per cent capacity, reflecting increasing confidence by shipping lines and cargo owners in Nigeria’s first deep seaport. “We already reached 50 per cent of our capacity now,…

U.S Imposes Travel Ban on Nigerians, Others President Donald Trump signed a proclamation on Tuesday that further restricts and limits the entry of foreign nationals to the United States, the White House said. With Nigeria on the list, Tuesday’s proclamation said the restrictions were “necessary to prevent the entry of foreign nationals about whom the United States lacks sufficient information to assess the risks they pose”. The US imposed full restrictions and entry limitations on nationals from five countries – Burkina Faso, Mali, Niger, South Sudan, and Syria – in addition to the initial list of 12 countries. Partial restrictions…

NGX Climbs by N13.5bn, Investors Rebalance Portfolio The Nigerian Exchange (NGX) market capitalisation swelled as equities investors gained about N14 billion on Tuesday amidst year end portfolio rebalancing.  The local bourse closed trading activities on a positive note with key market performance indicators jumping by 0.01%. The slight uptick was triggered by bargain hunting as investors traded with caution in selective stocks, trading data obtained from the NGX showed. The market recorded price upticks in GUINNESS, MECURE, CUSTODIAN, FIRSTHOLDCO, EUNISELL and others, with investors showing interest across key market sectors. The NGX All-Share Index specifically added 21.23 basis points in…

GCR Affirms Emzor Pharmaceutical Issuer Ratings of A-/A2 GCR Ratings has affirmed Emzor Pharmaceutical Industries Limited’s national scale long-term and short-term issuer ratings of A-(NG) and A2(NG), respectively. The ratings agency also affirmed the national scale long-term issue rating of A-(NG) accorded to Emzor Pharma Funding SPV Plc’s NGN13.729 billion Series 1 Senior Unsecured Bonds. The outlook on the pharmaceutical company has been revised to Rating Watch Negative from stable, according to rating note released on Tuesday. GCR said the Negative Rating Watch reflects the potential for a liquidity event due to the maturity of its NGN13.729 billion bond maturing…

The Central Bank of Nigeria (CBN) will auction Nigerian Treasury bills for investors’ subscription on Wednesday with an upgraded offer size of N700 billion.

Debt Office Hikes Interest Rates on Reopened Bond by 1.30% The Debt Management Office (DMO) increased the spot rates on Nigerian government bonds by 1.30% at the primary market auction for December, according to results obtained by MarketForces Africa. At the last Federal Government of Nigeria (FGN) bonds auction for 2025 conducted on Monday, the DMO reopened the AUG-2030 and JUN-2032 bonds for investors subscription. The authority offered a total of NGN460.00 billion across 5 years and 7 years reopened papers for subscription. Total demand settled at NGN890.61 billion, translating to a bid-to-offer of 1.9x. The Debt Office eventually allotted…

XRP Plunges by 5% as Bitcoin Drives Cryptos Volatility Ripple (XRP) fell below key support on Monday, losing more than 5% in a 24 hours trading session amid a broad crypto sell-off, liquidations, and bearish technicals. Trading data from crypto exchanges showed XRP at $1.88 on $3.65 billion trading volume, which is an increase of 143.94% on the day. The altcoin fell sharply amidst broader sell pressure in the global crypto market buying momentum continues to fade amidst Bank of Japan rate fears. Market analysts acknowledge that XRP’s drop reflects cryptos’ general sensitivity to Bitcoin (BTCUSD) volatility, leveraged long unwinds,…