Author: Ogooluwa Aremu
Ogooluwa Aremu is a business journalist at MarketForces Africa covering Nigeria's energy sector, macroeconomic policy, African continental affairs, cryptocurrency markets, and foreign exchange developments.His reporting spans Nigeria's oil and gas regulatory landscape, including coverage of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria International Energy Summit, and the downstream deregulation reforms reshaping Nigeria's petroleum sector. He also reports general market, Nigeria's fiscal reforms, World Bank and IMF engagements with Nigeria, and President Tinubu's economic policy initiatives.Ogooluwa covers Africa-wide developments through MarketForces Africa's Inside Africa desk, reporting on the African Union summits, continental economic policy, and cross-border developments affecting investment and trade across Sub-Saharan Africa.His cryptocurrency and forex market coverage tracks major digital assets, including Bitcoin, Ethereum, and Ripple, alongside. Nigeria's interbank FX market movements. He has covered major stories, including the African Union's 39th Ordinary Session in Addis Ababa, Nigeria's N6 trillion fuel import savings from deregulation, and the World Bank's assessment of Nigeria's economic reform programme. Ogooluwa Aremu is based in Lagos, Nigeria.
Brent crude rose to $114 per barrel as oil prices increased on Thursday after Iran launched attacks on energy facilities in the Middle East amid ongoing tensions with the US and Israel.
Useless Coin Lost 15% as Traders Dump Speculative Asset With a market cap of about $38 million, Useless Coin (USELESS) is down 14.72% to $0.0381 over the past 24h, underperforming the broader market amid high-beta selling pressure as risk appetite wanes. Amplified sell-off versus Bitcoin, typical of high-volatility meme coins during market-wide pullbacks. Useless Coin fell over 6 times more than Bitcoin’s 2.27% drop, reflecting its status as a high-volatility meme asset. During market-wide risk-off moves, these tokens often experience amplified selling as traders reduce exposure to speculative positions. The move appears driven by macro-sensitive portfolio rebalancing, not a project-specific…
Guinness Nigeria Sees Sharp Intraday Rally After AGM Notice Guinness Nigeria Plc is gaining momentum on the Nigerian stock exchange, with an intraday rally that has pushed its market value up by about 10%. The brewer’s share price inched upward to N423.2 at the press time following the announcement of the annual general meeting schedule for April. The company’s shares are trading at their highest level in 52 weeks. In its regulatory disclosure, the company told the Nigerian Exchange and shareholders that the 75th Annual General Meeting of the Members will be held at the Grand Banquet Hall, Civic Centre,…
Africa Finance Corporation (AFC), has announced that the Bank of Tanzania (BOT) has made an equity investment in the Corporation, becoming a sovereign shareholder and further strengthening AFC’s diversified capital base and pan-African ownership structure.
BUA, GTCO, UBA Drive Momentum in Nigerian Stock Market The Nigerian Exchange (NGX) All-Share Index (ASI) climbed by 54 basis points on Tuesday as BUA Cement, tier-1 banks GTCO, FirstHoldco, and UBA rallied. Key performance indicators surged as the market sustained its bullish momentum, buoyed by bargain hunting in medium and large-cap stocks. Stockbrokers said major drivers of the uptrend include FIRSTHOLDCO, WEMABANK, UBA, BUACEMENT, GTCO, and others. For the second consecutive time, the Industrial goods sector and the Banking sector contributed the most, gaining 4.44% and 4.30%, respectively. The market index increased by 1,084.68 basis points to close at…
Zcash (ZEC) soared 16.40% to $268.39 over the past 24 hours in the cryptocurrency market, driven by a high-volume technical breakout above key resistance.
Reflecting the absence of financial pressures, the overnight interest rate has declined following a significant rise in money market liquidity, which has now reached N6.8 trillion.
Dangote Seals US$4.2bn Gas Deal with China’s GCL Group Dangote Industries Limited (DIL) and GCL Group, China’s leading private energy conglomerate, have formalised a landmark US$4.2 billion, 25‑year natural gas supply agreement to power Dangote Group’s major expansion projects in Ethiopia. The agreement, signed in Lagos, reinforces one of the most significant China–Africa industrial partnerships to date. Under the long‑term arrangement, GCL Group will supply stable natural gas to Dangote Group’s upcoming 3‑million‑tonne‑per‑year urea fertiliser production complex in Ethiopia. The plant, valued at US$2.5 billion, is being developed under a 60:40 equity structure between Dangote Group and Ethiopian Investment Holdings…
The headline inflation rate is projected to settle at 13.48% year on year for February 2026, on account of the consumer price index (CPI) easing further amid the energy crisis. The market anticipates that the statistics office will release the February inflation figures this week.
West Ham Hold Man City, Boost Arsenal’s Title Charge Manchester City were held to a 1-1 draw by West Ham United, denting the champions’ title hopes and strengthening Arsenal’s position in the race. Bernardo Silva opened scoring with a deft chip before Konstantinos Mavropanos headed the equaliser for West Ham in the first half. The point lifted West Ham out of the relegation zone while aiding Arsenal, who earlier beat Everton 2-0 to move nine points clear of City. However, the result pushed Nottingham Forest into the relegation zone following the stalemate at the London Stadium. City manager Pep Guardiola…