Author: Ogochukwu Ndubuisi

Seplat Energy Completes Inlet Gas Exchanger Replacement Project Seplat Energy Plc has announced that it has completed the replacement of the new Inlet Gas Exchanger (IGE) module on the East Area Project (EAP) platform, located in OML 67, offshore Nigeria. In an official statement, the company said the IGE module is an integral part of the Natural Gas Liquid (NGL) extraction process and was the main capital project on its offshore operations in 2025; the project was completed on budget. Since the EAP complex was restarted, the facility has been performing in-line with expectations. According to Seplat, gross NGL sales…

Auction: Treasury Bills Worth N700bn Set for Subscription The Central Bank of Nigeria (CBN) is now set to open N700 billion worth of local treasury bills for investors’ subscription on Wednesday.  The CBN is scheduled to offer Nigerian Treasury bills with 91 days to maturity totalling N100 billion for subscription midweek. At the belly of the curve, the authority will float treasury bills with 182 day bills totalling N150 billion for sales to investors, which include pension fund administrators, banks and other asset managers.  The CBN will also float NGN450.00 billion for the 364 days bills. Spot rates are expected…

Nigerian Exchange Grows by N1.29tn on Fresh Rally, New Listing Equity investors’ portfolio value expanded by about N1.29 trillion on Tuesday on a fresh rally, with new shares listed on the Nigerian Exchange (NGX) market. The market expansion followed the listing of 181.6 million and 5.38 billion ordinary shares of IMG (Industrial and Medical Gases Plc) and ETI (Ecobank Transnational Incorporated), respectively. The seller market was put on hold as investors sentiment was bolstered by Nigeria’s economic growth of about 4% in the third quarter of 2025 with investors showing interest in some oversold stocks. The Nigerian Exchange All-Share Index…

Tinubu Hosts Taraba Governor in Strategic Meeting President Bola Tinubu on Monday met Gov. Agbu Kefas of Taraba in a strategic meeting at the State House, Abuja. The Governor, accompanied by the APC National Chairman, Prof. Nentawe Yilwatda, met the president behind closed doors. ‎The visit was Kefas’s first to the Presidential Villa since defecting from the opposition Peoples Democratic Party (PDP) to the All Progressives Congress (APC). ‎His formal reception into the APC was earlier slated for Nov. 19 but was suspended after the abduction of the Kebbi schoolgirls, who had since been released. ‎Although the governor did not…

Nigeria, 144 Others Pay 2025 Dues in Full- UN chief UN Secretary General, António Guterres says wth less than five weeks remaining in the year, only 145 of UN’s 193 Member States, including Nigeria have paid their 2025 dues in full. Nigeria paid its full dues in September 25. Guterres told the Fifth Committee on Monday in New York that the UN was facing its most fragile cash position in years, in spite of sharp reductions already built into next year’s budget plans. Key contributors such as the United States and Russia have yet to pay what they owe, although…

Private Sector Input Costs Rise at Slowest Pace in 5 Years Nigeria’s private sector activities continue to improve, supported by economic reforms and a sustained decline in headline inflation, which settled at 16.05% in October. S&P Global said in the purchasing manager index (PMI) released on behalf of Stanbic IBTC that the introduction of new products helped to boost customer demand in November, leading to further expansions of new orders and business activity in the Nigerian private sector. The report hinted that the recent trend of easing inflationary pressures continued, noting that input costs increased at the slowest pace in…

NGX Shrinks as Equities Investors Lose N6.54trn in November It was a dirty November for investors in the Nigerian stock market, as the equities portfolio value sank by more than N6.54 trillion across trading sessions. Bears maintained a grip over the market as sentiment nosedived amidst new capital gains tax distortions that caused foreign investors to rotate out from the Nigerian bourse ahead of implementation. The red rain touched all market movers except few with abysmally low trading volume and majority of companies whose shareholdings concentrate with the owners. The market trend was practically put on hold while financial stocks…

CBN Sells N7.85tn in OMO Bills to Banks, Foreign Investors in Nov With banks and foreign portfolio investors as the core investors, the Central Bank of Nigeria (CBN) raised about N7.9 trillion across primary market auctions in November due to a significant level of excess liquidity. The financial system was bloated with excess funds that continued to find its way through the Standing Deposit Facility (SDF) of the CBN at a steep interest rate, which was above the average return on Treasury bills.  Deposit money banks (DMBs) practically pitched tents at the CBN window to earn a 24.50% rate on…

Central Bank to Auction N700bn in Nigerian Treasury Bills The Central Bank of Nigeria (CBN) will auction Nigerian Treasury bills worth N700 billion at the primary market auction scheduled for Wednesday. The auction will be held midweek as the authority seeks to replace N805.89 billion worth of Nigerian Treasury bills that will expire during the week. The Apex Bank will offer the short-term borrowing instrument across standard tenors for subscriptions to investors including local deposit money banks, pension funds administrators and asset managers on Wednesday. The authority will float N100 billion worth of 91 days bills for subscription. Also, 182…

Jonathan Calls Guinea-Bissau Incident a ‘Ceremonial Coup’ Former President Goodluck Jonathan has described the recent political upheaval in Guinea-Bissau as a “ceremonial coup,” rather than a military takeover. Jonathan stated this while addressing newsmen on Friday in Abuja, after returning from Guinea-Bissau where he had been temporarily trapped by the incident. He described the bizarre circumstances surrounding the coup announcement by the sitting President, Umaro Mbalo, as strange. “What happened in Guinea-Bissau, I wouldn’t call it a coup. “It was not a coup. Maybe some people would describe it as such for want of a better word—I would say maybe…