Author: Ogochi Christian
NNPC Declares N5.76trn Profit in 2025 UPDATE: The Nigerian National Petroleum Company Limited (NNPC Ltd.) declared N60.5 trillion in revenue and N5.76 trillion Profit After Tax (PAT) in the 2025 financial year. The NNPC Ltd. in its December 2025 Monthly Report Summary, highlighted key figures including crude oil and condensate production, natural gas output, revenue, PAT, and strategic initiatives during the period under review. The report revealed that crude oil production remained relatively moderate and pipeline maintenance activities disrupted some operations in the financial year. It showed that average crude oil and condensate production stood at 1.54 million barrels per…
Naira Opens Strong, Markets Anticipate Stability The naira opened strong on Monday after a previous gain as market confidence remains intact at the official window. Foreign payments and US dollar supply are projected to match as the authority seeks to maintain stability, with a preference for gradual appreciation. Last week, the Naira maintained its appreciation against the US dollar in the Nigerian Foreign Exchange Market (NFEM) window, supported by continued intervention by the authority. The exchange rate improved at the official window, and the Naira strengthened by ₦10.78 per USD to close at ₦1,355.41 compared to ₦1,366.19 recorded previously. Trading…
UBA Unveils Diaspora Platform to Power Global African Lifestyle Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the world and within the continent. The platform, launched in collaboration with leading ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited, represents a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment. At the unveiling, which took place at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering…
Money Market Rates Diverge, DMBs Placements Decline The money market rates diverged amidst strong liquidity levels in the financial system as data showed deposit money banks’ (DMBs) placements with the Central Bank of Nigeria (CBN) declined. Intermarket liquidity reduced with marginal adjustment on funding costs, reflecting excess funding levels with near zero borrowing activity from the Apex Bank. Broadstreet reported that the liquidity level in the financial system opened the new week with a balance of N1.47 trillion, reflecting an improvement of N49.19 million from the previous close. This increase was primarily driven by the N617.81 million primary market inflow,…
NGX Rebounds, Gains N285bn as Earnings Worries Ease The Nigerian Exchange (NGX) rebounded on Friday on signs of easing third quarter earnings worries – equities portfolio value increased by about N285.48 billion. Most of the listed companies have released their earnings, though with mixed performance across sectorial indices. The Nigerian Exchange All-share index climbed by 0.29% on Friday despite a bucket of unimpressive earnings released by top banks, and the year-to-date return jumped to 49.74%. The positive price appreciation halted four successive sessions of decline, supported by renewed buying interest in recently moderated stocks with good fundamentals. Top choices among…
New Marine Policy: FG Targets Lower Logistics Costs, Trade Competitiveness – Oyetola The Federal Government has unveiled a new National Marine and Blue Economy policy, designed to cut logistics costs. The policy is also designed to boost trade competitiveness and attract private sector investment into the transport and maritime sectors. The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, disclosed this at the 2025 Transportation Correspondents Association of Nigeria (TCAN) Annual Summit on Wednesday in Lagos. Oyetola, represented by the Director, Maritime Services, Department of Marine & Blue Economy, Dr Mercy Ilori, explained that the policy would provide a…
NCC, Stakeholders Move to Build Indigenous Telecom Workforce The Federal Government, Nigerian Communications Commission (NCC) and telecom operators on Tuesday renewed calls for urgent collaboration to close the skill gaps threatening the future of Nigeria’s telecom industry. The call was made at the Stakeholders’ Consultative Forum on Skill Gaps in the Telecoms Value Chain held in Lagos on Tuesday The Executive Vice-Chairman of NCC, Dr Aminu Maida, who was represented by Mr Edoyemi Ogoh, Director, Technical Standards and Network Integrity, said the shortage of indigenous talent had become one of the most pressing challenges facing the sector. Maida said that…
Ethereum, Dogecoin, XRP Post Top Weekly Gains Ethereum, Dogecoin, and Ripple (XRP-USD) experienced strong price upticks in the cryptocurrency market. The cryptocurrencies delivered impressive weekly gains to investors and were still maintaining their price uptrends at the time of writing. According to data from coinmarketcap.com, Ethereum is trading at $4,238, up by 21.53% over the last seven trading sessions. ETHUSD has successfully broken the resistance and is set for a further uptrend. XRP is trading at $3.19, up by 10.27% in seven trading sessions as investors increased bets on the digital asset. The market anticipates XRPUSD will surge to $4…
Equity Investors Gain N1.78 Trillion in Nigerian Stock Market Equity investors gained about N1.78 trillion as buying momentum continued in the Nigerian Exchange (NGX) trading platform at the beginning of the week. The bargain hunting lifted stock market performance indicators to a new all-time high as buy side actors executed deals on bellwether stocks. The positive trend followed sustained buying interest in Dangote Cement, BUAFoods, Lasaco Assurance, Royal Exchange, UPDC, UAC of Nigeria, and 43 other stocks. The stock market capitalization rose by N1.78 trillion, or 1.99 per cent, closing at N91.15 trillion, compared to N89.372 trillion recorded last Friday.…
NNPC Posts N905bn June Profit, Remits N6.96tn in 5 Months to FG The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has remitted N6.96 trillion to the Federation Account within the first five months of 2025. The NNPC Monthly Report Summary for June, released on Monday, revealed that it posted a Profit After Tax (PAT) of N905 billion for June 2025, marking a decline from the N1.054 trillion reported in May. In spite of the drop in monthly profit, it confirmed a total statutory remittance of N6.961 trillion to the federation account from January to May 2025, up from…