Author: Ogochukwu Ndubuisi

NNPC Listing: Global Capital to Exceed $60bn Goal –Stockbroker A stockbroker, Mr David Adonri, says the anticipated listing of the Nigerian National Petroleum Company (NNPC Ltd.) on the Nigerian Exchange Ltd. (NGX) will unlock global capital and enable it to surpass President Tinubu’s 60 billion dollars investment goal by 2030, President Bola Tinubu, upon reconstituting the leadership of the company, tasked it to increase the company’s investment base to 30 billion dollars by 2027 and 60 billion dollars by 2030. Adonri, in an interview with the News Agency of Nigeria (NAN) on Wednesday, said that the listing would provide NNPC…

Rates Stabilise as Financial System Liquidity Hits N1.5trn Interbank rates steadied as liquidity level in the financial system surged to N1.5 trillion following huge inflows from matured OMO bills at midweek. The market closed with strong net position, reversing recent past trend following influx of inflows from FAAC, NLNG and matured Treasury bills last week. The strong amount available for local deposit money banks reduced their persistent borrowing from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) at steep rates. Also, cash rich lenders are unable to demand for higher rates with more funds finding its way into…

NNPC Ltd. Welcomes New GCEO, Board The Management of the Nigeria National Petroleum Company Limited (NNPC Ltd.) has welcomed the appointment of its new Group Chief Executive Officer (GCEO) Mr Bayo Ojulari, and Board of Directors by President Bola Tinubu. Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., in a statement on Wednesday appreciated the outgoing GCEO, Mr Mele Kyari, and the former Board Members for their selfless and dedicated service to the company and nation. President Bola Tinubu on Wednesday approved a reconstitution of the NNPC Ltd. board, removing the chairman, Chief Pius Akinyelure and the GCEO Malam…

Oil Prices Decline as Reciprocal Tariff Keeps Markets on Edge In the global commodities market, the prices of crude oil declined on Wednesday U.S reciprocal tariff, and rising stockpile keep the market on edge. Today, US President Donald Trump will announce reciprocal tariffs, while data revealed increasing US crude inventories. Brent crude, decreased by around 0.4% trading at $74.02 per barrel, down from $74.30 at the previous session’s close. The US benchmark, West Texas Intermediate (WTI) fell by about 0.4%, settling at $70.66 per barrel, compared to its prior session close of $70.93. President Trump is expected to announce reciprocal…

Cryptos Market Cap Rises to $2.75T as Bitcoin Tops $85K Global cryptocurrency market capitalisation climbed to $2.75 trillion on Tuesday as Bitcoin topped $85,000 amidst price volatility stoked by U.S recession fear and weak investors’ sentiment. According to data from the CoinMarketCap.com, the global crypto market cap hovering around $2.75 trillion, a 3.27% increase over the last day. Bitcoin, Ethereum and other top digital assets experience moderate rally amidst global economic uncertainties, and trade war. The total crypto market volume over the last 24 hours reached $77.43 billion, which makes a 5.23% decrease. Data showed that total volume in DeFi…

FG Urges IOCs to Increase Investments The Federal Government has urged International Oil Companies (IOCs) in Nigeria to increase investments in the oil and gas sector, highlighting the country’s investment-friendly fiscal policies and incentivised investment opportunities. Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), made the call at the Cross Industry Group (CIG) Meeting held in Florence, Italy, organised by IOCs operating in Nigeria. The meeting focused on challenges, expectations, and strategies to enhance the sector’s contributions to domestic energy needs and regional expansion across Sub-Saharan Africa. Lokpobiri, in a statement by his Special Adviser on Media and…

Lagos Generates 13,000 Tonnes of Waste Daily Lagos State generates an average of 13,000 tonnes of waste daily, the state waste management agency has said. Dr Muyiwa Gbadegesin, Managing Director of Lagos State Waste Management Authority (LAWMA), gave the figure in an interview with the News Agency of Nigeria (NAN) in Lagos. Gbadegesin said that the authority had been effectively evacuating the large volume of waste in partnership with Private Sector Participation (PSP) operators. According to him, LAWMA and the PSP operators daily deploy 102 compactor trucks for waste evacuation. He said that LAWMA’s marine waste evacuation team had also…

Oil Prices Decline Ahead of Trump ‘Liberation Day’ The oil prices declined in the global commodities market on Tuesday ahead of April 2 reciprocal tariffs implementation. The uncertainties about U.S protectionist stance has triggered reduce global economic growth forecast and analysts expect inflows to worsen due to trade war. With negative impacts on demand and supply, the US President Donald Trump has threaten to implement 25% tariffs on countries importing oil and gas from Venezuela. Trump prepares to announce reciprocal tariffs on April 2, which he calls ‘Liberation Day’. Brent crude, decreased by around 0.40% trading at $74.47 per barrel,…

NLNG Dividend, Derivation Fund, TBills Inflow Drag Rates Below 27% Inflows from matured investment securities, Nigeria LNG dividend refund and derivation payment to states kept interbank rates movement in check last week. Banks borrowing reduced in the absence of funding pressures due to an improvement in banking system despite sequence of outflows.  Market revealed that the short term benchmark interest rates were at their lowest when put side by side with past week record. The conditions in the money market was primary driven by NLNG dividend refunds, and 13% derivation funds including inflows from FGN bonds, matured Treasury bills. Data…

Delta State to Launch N1 Billion MSMEs Loan Scheme The Delta Government has assured that the one billion Naira soft loan it approved for Micro, Small and Medium Enterprises (MSMEs) in the state would be ready soon. Mr Olisa Ifeajika, Executive Assistant to Gov. Sheriff Oborevwori on Public Enlightenment (Projects and Policies), disclosed this while clarifying certain issues to newsmen on Monday in Asaba. Ifeajika recalled that the Commissioner for Economic Planning, Mr Sonny Ekedayen, had on Feb. 14 announced the state government’s approval to set aside the sum of N1 billion soft loan at a single digit interest to…