Author: Ogochukwu Ndubuisi

Yield Slides as Investors Appetite for Bonds Rises The average yield retreated in the secondary market as investors showed interest in Nigerian government bonds. The fixed income market turned bullish ahead of the midweek Treasury bills auction. Nigeria’s bond yield remains elevated, and it has continued to act as a catalyst for increased demand and sustained portfolio adjustments via secondary market trading. Activities in the bond market have always been driven by wealth managers and institutional and retail investors, including local banks. Pension Fund Administrators (PFAs) have pumped significant amounts from the pension fund into Nigeria’s securities. Despite elevated yield…

Treasury Bills Yield Falls Ahead of N670bn Auction In the secondary market, the average yield on Nigerian Treasury bills (NTB) fell to 23.27% ahead of the Central Bank’s primary market auction (PMA) offer worth N670 billion. The secondary market traded on a relatively quiet note, with a mild bullish bias as market players positioned ahead of the midweek auction. Ahead of the auction, the Treasury bills market attracted buying interest, supported by enhanced market liquidity. LThe liquiditybalance in the money market switched to a surplus of more than N200 billion from a deficit position in the prior day. Analysts at…

FG Moves to Revamp Bank of Agriculture for Economic Stability The Federal Government has reaffirmed its commitment to restructuring and recapitalizing the Bank of Agriculture (BoA) as part of efforts to strengthen the economy and enhance food security. Presiding over a progress report meeting on Friday, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighted the BoA’s crucial role in boosting agricultural production and stabilising prices. While monetary measures are being implemented, he stressed the need for fiscal and real-sector strategies to increase output, support economic growth, and dampen inflation. The National Council on…

FG Takes Leap Towards Fiscal Excellence With Revised Cash Management Policy The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite has reaffirmed the Federal Government’s commitment to ensuring sound fiscal management and sustainable economic development through the revised policy on Cash Management and Bottom-Up Cash Planning. The Minister gave the assurance at the Stakeholders Review Meeting on the Implementation of the Revised Policy on Cash Management and Bottom-Up Cash Planning Protocols, held in Abuja She stated that the revised policy on Cash Management and Bottom-Up Cash Planning represents a pivotal step in our journey toward ensuring sound fiscal management…

FG Launches $124 Million Cholera Control Initiative The Federal Government, FG, has launched the National Strategic Plan of Action on Cholera Control (NSPACC) 2025-2029, a 124 million dollars initiative aimed at eradicating cholera in Nigeria through a multi-sectoral approach. The plan was unveiled on Tuesday in Abuja by Prof. Muhammad Pate, the Coordinating Minister of Health and Social Welfare, who emphasised the government’s commitment to cholera prevention, preparedness, and response. The launch event, hosted in partnership with the Nigeria Centre for Disease Control and Prevention (NCDC), the National Primary Health Care Development Agency (NPHCDA), and international health partners, marked a…

China Imposes 15% tarrifs on U.S Coal, LNG Imports China will introduce tariffs of 15 per cent on imports of liquefied natural gas (LNG) products and coal from the United States in response to US tariffs. The Ministry of Finance in Beijing announced on Tuesday. According to the ministry, a 10 per cent tariff will also be applied to oil and agricultural machinery imported from the U.S., in measures set to come into force on February 10. In addition, Beijing announced an antitrust investigation into U.S. technology giant Google. U.S tariffs of 10 per cent on all Chinese imports were…

FG, NLC Signs MoU Over Proposed 50% Telecom Tariff Hike The Federal Government (FG) and the Nigeria Labour Congress (NLC) has signed a Memorandum of Understanding (MoU) over the proposed 50 per cent hike in telecommunications tariff. This was contained in an MoU reached on Monday at a meeting convened by the federal government and the NLC over the proposed hike in telecom tariff. The MoU was signed by Sen. George Akume, Secretary to the Government of the Federation, Muhammadu Dingyadi, Minister of Labour and Employment, Mr Joe Ajaero, President of NLC and Mr Emmanuel Ugboaja, General Secretary of the…

CBN Extends Deadline for Temporary FX Sales to BDCs Operators The Central Bank of Nigeria (CBN) has extended the Foreign Exchange (FX) sale period to Bureau de Change (BDC) operators in the informal currency market until May 30, 2025, according to an official statement. This aims to better serve retail market demands. The bank disclosed this in a circular, signed by Dr W. J. Kanya, Acting Director of the Trade and Exchange Department, to BDCs on Monday and made available on its website. The circular, titled, “Sales of Foreign Exchange To BDCs To Meet Retail Market Demand For Eligible Invisible…

Equities Investors Gain N83bn as Telecom, Palm Oil Stocks Rally Equities investors gained more than N83 billion on Monday as telecom and palm oil stocks rallied. The equities market trading activities closed on a positive note, as key performance indicators grew by 13 basis points. Despite its positive close, market breadth signalled negative sentiment, as 22 gainers fell short of 35 losers, resulting in a weak advancers-to-decliners ratio of 0.63x. Data from the Nigerian Exchange, NGX, showed that today’s gain was supported by buying interest in some blue-chip stocks. Top gainers in the market include PRESCO (10.00%), OKOMUOIL (9.99%), TRANSCORP…

Enugu Assembly Passes Bill to Harmonise Revenue Collection An executive bill that will harmonize, consolidate, and provide administrative backing for revenue collection has been passed by the Enugu State House of Assembly. The bill, which scaled through the second and third readings on Monday was wholesomely supported by members at plenary. Introducing the benefits of the bill, the member representing Nkanu West constituency, Mr Iloabuchi Aniagu, said the bill did not in any way seek to stop the powers of local government areas as it concerned revenue collection. Aniagu said it would rather harmonise revenue collection to avoid multiple taxation.…