Author: Ogochukwu Ndubuisi

Strong Institutions, Sound Policies Crucial to Economic Growth – IMF The international Monetary Fund (IMF) says strong institutions and policies are crucial to economic growth. The Managing Director of the IMF. Kristalina Geogrieva, said this on Monday in Washington while interacting with Civil Society Organisation (CSOs) on the sidelines of the 2025 Annual Meetings of the IMF/World Bank Group. Geogrieva said that independence of central banks and their supervisors would also be a major focus at the meetings. “You will hear us during these meetings talk a lot about the precious value of strong institutions and sound policies. “You will…

Heirs Insurance Group Announces Inaugural Travel Festival Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has announced the launch of the Heirs Insurance Travel Festival, scheduled to take place on November 29, 2025, in Lagos. The one-day festival is a bold call for inclusive travel ecosystem for Africans, and will convene thousands of attendees, including travel ecosystem stakeholders, embassy representatives, tourism content creators, and travel lovers, across the tourism value chain for a first-of-its-kind immersive celebration of global cross-border tourism and culture. With the theme “Promoting Cultural Diversity and an Inclusive Travel Ecosystem,” the event will feature high-level diplomatic dialogues…

FG Threatens ASUU With ‘no Work, no Pay’ Policy The Minister of Education, Dr Tunji Alausa, says the Federal Government will issue ‘no work, no pay’ policy on the Academic Staff Union of Universities (ASUU). This is contained in a statement made available to newsmen in Abuja on Sunday by the Director, Press and Public Relations of the Ministry, Folasade Boriowo. The warning came as the university teachers on Sunday declared a two-week warning strike beginning from midnight of Monday, Oct. 13, over unmet demands. The decision, according to the union, followed the Federal Government’s failure to meet its outstanding…

Oando Plunges by Half over Discounted Investors’ Trust Oando Plc has lost half of its highest market value in 52 weeks due to sell pressures. The energy stock experienced a fast and furious rally in 2024 but has since lost its allure over discounted investor trust. The energy company share price has been on the decline despite strong fundamentals and a sustained expansion drive. Its persistent downward pricing on the Nigerian Exchange has forced a number of investment firms to place Oando Plc shares under review. As the company footprint in the sector increased, its share price decreased, reflecting shareholders’…

Zenith Bank Pays Shareholders N51.3bn Interim Dividend, Up by 60% Zenith Bank Plc, on Friday, October 10, 2025, made good on its promise as it paid a total interim dividend of N51.3 billion to its shareholders for the Half Year (H1) 2025, at N1.25 per share. This significant payout represents over 60% increase from the N31.4 billion paid in H1 2024, demonstrating the bank’s commitment and enhanced capacity to continually generate value for its shareholders amidst a challenging macroeconomic environment. The dividend payment comes on the heels of the bank’s audited financial results for the half-year ended June 30, 2025,…

Nigeria’s Eurobonds Yield Rises, $1.1bn Notes Expire in Nov. Nigeria’s sovereign Eurobond yield surges in the international market as foreign portfolio investors (FPIs) rebalance their positions against African issuers ahead of repayment. The sovereign borrowing instrument for longer duration was sold, causing its associated yield to increase, reflecting shifting global risk sentiment and uncertainty around a potential U.S. shutdown The markets weighted Nigeria’s sovereign credit and macroeconomic positions.  The negative sentiment became necessary as offshore investors sought to put Nigeria’s creditworthiness to test ahead of expiration of $1.1 billion Eurobond next month. In November, the sovereign Eurobond worth US$1.1 billion…

Strike Cuts Oil Output to 1.58 mbpd in September – NUPRC The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria’s crude oil and condensate production fell to an average of 1.581 million barrels per day (bpd) in September 2025. The commission disclosed this in a statement on Saturday, citing official statistics released by its Head of Media and Strategic Communication, Eniola Akinkuotu. NUPRC attributed the drop to a three-day industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which led to the shutdown of several production and export facilities. It added that scheduled turnaround maintenance…

Equities Investors Gain N2.16trn as Trade Deals Spike Equities investors in the Nigerian Exchange (NGX) gained N2.16 trillion as trade deals across sectoral names spiked by about 20% week on week. The local bourse sustained its positive momentum this week, with overall sentiment remaining bullish despite a moderation in transaction value and trading volume. The NGX All-Share Index advanced by 2.37% week on week to close at 146,988.04 points after hitting a new 52-week high of 147,107 points on strong market internals. The hunting for value was driven by renewed investor interest in fundamentally strong stocks ahead of the third…

W’Cup Qualifier: Nigeria Edge Lesotho 2-1 to Keep Hopes Alive Nigeria’s Super Eagles defeated Lesotho 2–1 on Friday in Polokwane, keeping their hopes alive for a spot at the 2026 FIFA World Cup. The victory places Nigeria third in Group C with 14 points. Benin Republic, who secured a 1–0 win over Rwanda in Kigali, remain top of the group with 17 points, while South Africa sit second, also on 15 points. Meanwhile, South Africa were held to a goalless draw by Zimbabwe in Durban. Nigeria will host Benin Republic in Uyo on Tuesday in a decisive final group match.…

NGX Market Cap Hits N93.3trn, Equities Investors Gain N497bn The Nigerian Exchange (NGX) market capitalisation added 0.54 per cent or N497 billion, to an opening of N92.798 trillion to close at N93.295 trillion. This is sustaining the bullish performance for 11 consecutive sessions The All-Share Index also gained 0.54 per cent or 793.70 points to close at 146,988.04 points, against 146,204.34 points posted on Thursday. Gains in Dangote Cement, Nem Insurance, Jaiz Bank, FTN Cocoa Processors and 21 other stocks drove the market to positive terrain. Meanwhile, the market breadth closed flat with 25 gainers and 25 losers on the…