Author: Ogooluwa Aremu

NGX Calls for Increased Infrastructure Funding to Boost Economy Nigerian Exchange Group (NGX Group) has called for increased investment in Nigeria’s critical infrastructure to unlock economic growth and strengthen the country’s global competitiveness.A statement by NGX Group in Lagos said its Chairman, Dr Umaru Kwairanga, made the call on Thursday at the Nigeria Infrastructure Investment Forum in London. Kwairanga, who spoke alongside the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said Nigeria remained an attractive destination for investors, citing its natural resources and growing workforce. He noted that the country had significant agricultural potential, mineral resources, and a…

In a landmark development, U.S. regulators have issued joint guidance classifying many leading crypto tokens as “digital commodities” rather than securities.

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…