Author: Ogooluwa Aremu

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.

Litecoin Price Climbs to $51.69 on Technical Bounce Litecoin (LTC) price gained about 100 basis points in 24 hours to $51.69 on Tuesday, modestly outpacing Bitcoin’s +0.19% gain in a broadly flat market, driven by a technical bounce from oversold conditions, with no clear coin-specific catalyst evident in the data. LTC is hovering behind $52, having declined 4.81% this week and 25.09% over the past 30 days. This underperformance aligns with a brutal period for crypto, during which the total market cap fell 26.58% over 30 days to $2.22 trillion. Litecoin’s 24-hour trading volume stands at $322.1 million, according to…

Oil Prices Edge Higher on Lingering Supply Risks Oil prices edged higher on Tuesday amid lingering supply risks, while renewed U.S. tariff threats have added another layer of market pressure. Brent crude traded at $71.51 per barrel, up 0.3% from the previous close of $71.26. US benchmark West Texas Intermediate (WTI) increased 0.4% to $66.66 per barrel, compared with $66.40 in the previous session. The price increase was driven by geopolitical risks in the Middle East, cautious expectations for nuclear negotiations between the US and Iran, and lingering uncertainty over US trade policy. The third round of indirect nuclear talks…

Bitcoin Falls to $64k on Sharp Leverage Liquidations Bitcoin (BTC) fell to the $64k level on Monday as uncertainties in the global economy, fueled by escalating US–Iran tensions, triggered heavy leverage liquidation in the crypto market. The US’s latest tariff threats coincided with a sharp crypto selloff that triggered roughly half a billion dollars in leveraged liquidations. Reporting from multiple market trackers shows that roughly $470 to $505 million leveraged crypto positions were liquidated in 24 hours, with Bitcoin accounting for roughly 232 million and Ethereum (ETH) about 126 million, consistent with a broad, but BTC-led, deleveraging across majors. Top…

Tier-1 banks: GTCO, Zenith, First Holdco, UBA, and Access Plc added N778 billion to their combined market value (MV) in the Nigerian stock market as investors stepped up actions.

Money Market Rates Soften Despite OMO, NTB Debits Money market rates softened despite huge outflows related to settlement for OMO and the Nigerian Treasury bills auction floated by the monetary authority last week. The financial system opened with strong liquidity, driven by inflows from expired bills.  This buoyed system liquidity to N4.68 trillion, largely supported by strong placements at the Standing Deposit Facility. Banks continue to place excess funds with the Central Bank to augment their revenue as lending appetite tightens. Commercial banks’ preference for investment securities intensifies, with fair values on financial statements running into the trillions. Liquidity conditions…