Author: Ogochukwu Ndubuisi

Crude Oil, Condensate Output Drops in September, as Experts Give Reasons The Nigerian National Petroleum Company Limited (NNPC Ltd.) has recorded 1.61 million barrels per day (mbopd) of Crude and condensate production in September, slightly down from 1.65 mbpd recorded in August. This was disclosed in the NNPC’s Monthly Financial and Operations Report for September 2025, released on Tuesday and made available to the News men in Abuja. Output had fluctuated between 1.57mbpd and 1.70 mbpd from January to September, reflecting the lingering impact of pipeline disruptions, crude theft, and deferred production linked to scheduled and unscheduled maintenance. The case…

OMO Bills Auction Settlement Tightens Money Market Liquidity The Central Bank of Nigeria (CBN) OMO bills auction settlement tightened the liquidity level in the money market, causing rates to shift in reaction to the adjustment. Analysts said they expect the OMO auction settlement totalling N2.12 trillion for the primary market action conducted on Friday to push rates higher in the new week. . System liquidity settled around N1 trillion, from a deficit position of -NGN0.32 trillion at the previous close, as market activity normalised following Friday’s primary market sales, Meristem Securities Limited said in a note. Nigerian Interbank Borrowing Rate…

GCR Assigns Premium Trust Bank A-/ A2 Ratings with Stable Outlook African-focused ratings agency GCR has assigned Premium Trust Bank Limited national scale long and short-term issuer ratings of A-(NG) and A2 (NG) respectively, with a Stable Outlook. In its rating note, GCR explained that the ratings assigned to Premium Trust Bank Limited is anchored by its robust capitalisation metrics, underpinned by the successful equity injection. GCR said the ratings also balance the bank’s adequate liquidity and sound risk position against a modest competitive position, reflected in its franchise strength and operational scale. Premium Trust Bank Limited is a relatively…

BPP Reaffirms Commitment to Efficient, Transparent Procurement Ecosystem Dr  Adebowale Adedokun, the Director-General (D-G),  Bureau of Public Procurement (BPP) has reaffirmed the Federal Government’s commitment to strengthening transparency, efficiency, and professionalism in Nigeria’s public procurement ecosystem. Adedokun said this in a statement issued by Zira Nagga, Head, Public Relations, BPP in Abuja on Monday. According to Nagga, the D-G spoke while addressing members of the Procurement Professionals Association of Nigeria (PPAN) at their monthly general meeting in Abuja. He said the meeting had the theme: “The Ongoing Reforms of the Federal Government in Public Procurement: Implication for Transparency, Efficiency, and…

Nigerian Stock Market Hits N95trn as Equities Portfolios Surge The Nigerian Exchange (NGX) market capitalisation hit a record high of N95 trillion as equities portfolios expanded by approximately N613 billion on Monday, according to trading data from the local bourse. The Nigerian market commenced the week on a positive note, as key performance indicators appreciated by 65 basis points, and year to date return expanded to 45% mark. The bargain hunting was fuelled by sustained buying interest in large and moderately priced stocks, such as EUNISELL, BUACEMENT, FIRSTHOLDCO, UBA, and others across major market sectors. Investors’ sentiment remained upbeat, according…

CapitalSage Holdings Names Nath Ude as Group CEO to Lead Financial Services Expansion CapitalSage Holdings, a multinational group at the forefront of agribusiness and financial innovation, has announced the appointment of Nath Ude as Group Chief Executive Officer of CapitalSage Technology Limited, the financial services arm of the corporation. The appointment takes effect from October 13, 2025. The appointment marks a pivotal step in CapitalSage Holdings’ ambition to accelerate digital-led financial transformation and consolidate growth across key markets. Nath will lead the Group’s financial services businesses, which include Kolomoni Microfinance Bank (Nigeria and The Gambia), ERCAS, Regius Asset Management, Regius…

FX Inflows into Nigeria’s Foreign Exchange Market Falls by 33% FX inflows into the Nigerian foreign exchange market fell by about 33% week on week to $1.1 billion, an update from Coronation Merchant Bank Limited revealed. The merchant bank’s research subsidiary wrote in a report released on Monday that US dollar inflows through the Nigerian Foreign Exchange Market (NFEM) moderated to US$1.10 billion from US$1.64 billion in the prior week. Despite the huge weekly decline, foreign investors led the pack, driving the supply side amidst rising demand for US dollar at the official window. Offshore investors have continued to exhibit…

Rare Earths ‘Arms Race’ Will Define 2026: Devere The global scramble for rare earths and other critical minerals is accelerating, and financial advisory giant deVere Group believes it will be one of the defining investment themes of 2026 as the United States and China intensify their fight for control of the materials powering the modern economy. Nigel Green, chief executive of deVere Group, says, “Rare earths have moved from the periphery of the commodities market to the centre of global strategy. “The battle to secure them will shape trade, technology, and investment decisions for years to come.” The minerals, which…

NPFL: Kano Pillars Suspend Technical Adviser, Chief Coach Over Poor Run The management of Kano Pillars Football Club has announced the suspension of the team’s Technical Adviser, Ogenyi Evans, and Chief Coach, Ahmed Garba. The suspension, it said, follows what it described as the club’s unsatisfactory performance in the ongoing 2025/2026 Nigeria Premier Football League (NPFL) season. In a statement issued by the club’s Media and Communications Directorate on Monday in Kano, the management said the suspension, which is with immediate effect, is aimed at repositioning the team for better results. According to the management, the team played eight league…

Oil Prices Decline as Trump Whispers Tariff Cut for China Oil prices declined as President Donald Trump of the United States of America hinted about a tariff cut for the top rival economy ahead of a meeting in South Korea. US officials’ soft tones over trade tensions with China also supported the decline. Brent crude was trading at $60.69 per barrel, down 0.8% from the previous close of $61.21. The US benchmark West Texas Intermediate (WTI) also fell 0.9% to $56.67, compared to $57.20 in the prior session. Prices extended last week’s losses as investors weighed the outlook for demand…