Author: Ogochukwu Ndubuisi

The equities segment of the Nigerian Exchange (NGX) closed lower as the banking and insurance indexes drained market energy amid selling pressure.

South African Rand Little Change as Oil Prices SteadyThe South African Rand was little changed against the US dollar (USD), which printed at an 18-month high amid increased demand for safe-haven assets. The local unit traded at R16.53 per US dollar, with higher-for-longer US rate expectations continuing to limit gains, First National Bank (FNB) said in a brief on Tuesday. Investors now shift focus to the US consumer price index (CPI) report while balancing broad US dollar strength amid higher oil prices. Elevated global energy costs continue to intensify South Africa’s petroleum import costs. Against other major crosses, the rand…

G-24 Advocates Macro Stability, Inclusive Growth for Job Creation Mr Taiwo Oyedele, Chairman, Intergovernmental Group of Twenty-Four (G-24) says macroeconomic stability, inclusive growth and deliberate policies are essential to creating jobs and improving living standards in developing countries. Oyedele said this while fielding questions at a news briefing by the G-24 at the 2026 IMF/World Bank Meetings in Bangkok on Tuesday. He said economic stability and job creation were not mutually exclusive, stressing that a stable macroeconomic environment provided the foundation for sustainable growth and prosperity. “Stability itself is the foundation upon which you can build the growth and prosperity…

Oil Prices Drop as U.S. Diesel Deal with Russia Eases Supply Fears Oil prices fell Tuesday as a US-Russia diesel deal raised hopes of increased fuel availability in global markets, while President Donald Trump said an energy ceasefire between Moscow and Kyiv remained in effect. International benchmark Brent crude futures for December delivery fell 1.2% to $105.38 per barrel, down from $106.65 at the previous close. US benchmark West Texas Intermediate (WTI) crude futures for November delivery dropped 1.4% to $92.44 per barrel from $93.74. Trump urged Russian President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelenskyy to reach an…

Obasanjo Seeks Increase in 13% Derivation for Oil-Producing States Ex-Nigeria President Olusegun Obasanjo on Monday advocated increasing the 13 per cent derivation allocation to oil-producing states.  Obasanjo spoke at the inauguration of the Crude Distillation Unit (CDU) of Azikel Refinery in Obunagha, Yenagoa Local Government Area, Bayelsa. The one-billion-dollar refinery project is owned by Azikel Petroleum, under the Azikel Group. The refinery is expected to produce 2.5 million litres of petrol and 2 million litres of diesel daily, along with other petroleum products. Obasanjo commended Azikel Group President, Dr Azibapu Eruani, for initiating the project and urged him to ensure…

NVIDIA Tokenised bStocks (NVDAB) slipped 1.88% to $226.53 on Monday, closely tracking a broader crypto market

AI to Affect 40% of Global Jobs, Urges Policy Reforms- IMF Boss Managing Director, International Monetary Fund (IMF), Kristalina Georgieva, says Artificial Intelligence (AI) could affect about 40 per cent of jobs globally, urging governments to prepare workers for the changing labour market. Georgieva ‌‍⁠‌‍⁠⁠‍ ‍ ‍ ⁠‌ said this during a panel session on “Small Scale AI: More and Better Jobs” at the 2026 IMF/World Bank Annual Meetings in Bangkok, Thailand on Monday.  She described AI as a “slow-moving tsunami” for the labour market, saying it could augment, downgrade or eliminate jobs.  According to her, IMF estimates show…

The World Bank Group says it is helping to mobilise up to $5.79 billion in private financing

The Central Bank of Nigeria (CBN) raised about N4.3 trillion through OMO and Treasury bill auctions conducted amid sustained declines in spot rates.

Amaechi Faults Tinubu’s Fuel Subsidy Removal ‌‍⁠‌‍⁠‍‌⁠‌Mr Rotimi Amaechi, vice presidential candidate of the African Democratic Congress (ADC), has criticised President Bola Tinubu’s handling of fuel subsidy removal, citing its impact on Nigerians. Amaechi, a former Minister of Transportation and Rivers governor, spoke on Saturday at a town hall meeting in Calabar. He said the government should have consulted economists, political scientists and other stakeholders before implementing the policy. The former minister argued that adequate measures should have been introduced to cushion the effects of subsidy removal on Nigerians. According to him, courage in policymaking must be balanced with…