- Naira Falls to N1,360 as Interbank FX Turnover Dips by 57%
- FirstHoldco, Access, Drown NGX Index, Investors Lose N758bn
- UK Court Acquits Diezani Alison-Madueke of Bribery Charges
- CBN Hikes Interest Rates on Treasury Bills to 17.34%
- Bitcoin Slips as Bank of Japan Hikes Rates to 31-Year High
- Nigeria Eurobonds Yield Rises 8bps on Risk-Off Sentiment
- IMF: FG Dismisses Report on New Telecom, Fuel Taxes
- G7 leaders to Discuss Global Economic Recovery
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.
Diversified financial services company FCMB Group Plc gained about 17% on the Nigerian stock market as investors’ sentiment improved amid the approval of final dividend payments.
Oil prices are set to jump sharply when trading resumes Sunday night, as unprecedented U.S. and Israeli strikes on Iran have intensified Middle East tensions.
XRP Lost 9% as Israel Strike in Iran Stokes Selloffs Ripple (XRPUSD) price crashed by 9.17% over the last 24 hours to $1.28 in line with broader market selloffs following Israel’s strike in Iran. The sell-off was confirmed by a 27.82% surge in volume to $3.89 billion in 24 hours, indicating strong distribution. The crypto market saw a sudden and sharp crash after news of U.S. and Israeli strikes on Iran, raising geopolitical tensions in the Middle East. In just one hour, the entire crypto market came under pressure, with total market cap falling by about 6% to $2.2 trillion…
Kano State Unveils N 1.477trn 2026 Budget The Kano State Government’s 2026 budget has been approved at N1.477 trillion, a 7.42 per cent increase from the initial proposal. The Commissioner for Planning and Budget, Musa Shanono, said on Friday that the budget focused on infrastructure, inclusive growth, and sustainable development. The revenue projections included N1.048 trillion recurrent revenue and N327.19 billion capital receipts. The budget allocated N432.4 billion to education, N429.72 billion for recurrent expenditure, and N1.048 trillion for capital expenditure. The budget is 51 per cent higher than 2025’s, reflecting a shift towards infrastructure development and long-term investments. He…
Sagamu–Ibadan Gas Pipeline Hits 80% Completion The Managing Director of NIPCO Gas Ltd., Mr. Nagendra Verma, says the 18-inch, 80-kilometre Sagamu–Ibadan natural gas pipeline has reached 80 per cent completion. Verma disclosed this during an interactive session with energy correspondents on Friday in Lagos. He stated that the project is scheduled for delivery between June and July, reaffirming the company’s commitment to completing the strategic infrastructure within the projected timeline. According to him, the pipeline, being developed in partnership with NNPC Gas Marketing Ltd. (NGML), will significantly boost gas supply to industrial and commercial consumers in Ogun and Oyo states,…
Kaduna Assembly Passes N152.4bn Appropriation Bill for 23 LGAs The Kaduna State House of Assembly on Friday passed a bill appropriating N152.4 billion for the 23 local government councils for the 2026 fiscal year. Presided over by the Speaker, Dahiru Liman, the House passed the bill after adopting the report of the Joint Committee on Appropriation, Implementation, and Local Government. Earlier, Ali Kalat, representing Jema’a Constituency, moved for the adoption of the committee’s report on the proposed local government appropriation, while Henry Marrah, representing Jaba constituency, seconded the motion. Speaking with journalists shortly after the plenary, the Chairman of the…
Nigeria’s economy achieved an impressive 3.9% year on year growth in 2025, the National Bureau of Statistics (NBS) said in a gross domestic product (GDP) report released
The yield on Nigerian Eurobonds surged as foreign investors sold off dollar-denominated bonds linked to oil-producing African nations in the international market.
MTN Nigeria Posts N1.1trn Profit for FY2025 MTN Nigeria Communications Plc has reported a profit after tax of N1.11 trillion for the full year ended 2025, representing a recovery from a loss of N400.44 billion recorded in 2024. Details from its 2025 earnings release showed profit before tax of N1.70 trillion, compared to a loss of N550.33 billion in the previous year. This was disclosed in a corporate disclosure released to the Nigerian Exchange Ltd. on Thursday. The strong performance was supported by a net foreign exchange gain of N90.27 billion, compared with a loss of N925.36 billion in 2024.…
The crypto market climbed by 2.27% in the last 24 hours to $2.24 trillion, driven by bullish speculation on U.S. policy changes, showing a correlation of 95% with the S&P 500.