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.
Labour Party Fixes April 28 for Presidential Primary The Labour Party has fixed its Presidential primary for April 28, State congresses for April 25, Local Government Area and Ward congresses for April 24 and April 23, respectively. This is contained in a letter to the Independent National Electoral Commission (INEC) signed by the Interim National Chairman of the Labour Party, Sen. Nenadi Usman and released to newsmen on Friday in Abuja. According to Usman, the letter is to notify the Commission of the approved schedule of activities for the Labour Party 2026 Elective Ward, Local Government Area (LGA), and State…
Reversing trend, US West Texas Intermediate crude grade surpassed Brent prices as the oil supply outlook worsened due to the escalating Middle East conflict.
Rwanda Unlocks Access to $250 million IMF Loan Rwanda has unlocked access to a $250 million loan from the International Monetary Fund (IMF) following a staff-level agreement reached with the authority on a 38-month Extended Credit Facility (ECF) arrangement of SDR 185.031 million. The extended credit facility, equivalent to US$ 250 million, is intended to support Rwanda’s economic policies and reforms, subject to approval by the IMF’s management and Executive Board. The ECF arrangement aims to support sound macroeconomic adjustment, rebuild policy buffers, and sustain reform momentum through three pillars: strengthening the macroeconomic policy mix, managing fiscal and debt risks…
Nigeria’s 33 recapitalised deposit money banks (DMBs) sourced 72.5% of their combined capital injections locally over two years, the Apex Bank said in an official statement.
Trump to Deliver Primetime Address on Iran War as Uncertainty Grips Washington Washington is holding its breath tonight as President Donald Trump prepares to address the nation in a rare primetime speech, scheduled for 9 p.m. Eastern Time, on the month long war with Iran. A conflict that has rattled global energy markets, strained America’s oldest alliances, and claimed thousands of lives across the Middle East. White House press secretary Karoline Leavitt announced the address on X, saying the president would “provide an important update on Iran,” though she offered no further details on what exactly he plans to say.…
Peoples Democratic Party (PDP) says a total of 4,264,675 Nigerians have registered as members of the party across the 36 states of the federation and the Federal Capital Territory (FCT) as at March 31.
Oil prices dropped sharply in the global commodity market on Wednesday after the U.S. announced its plan to exit Iran in two to three weeks, suggesting the Middle East war could end sooner than expected.
DMO Hikes Spot Rates on 7-Year, 10-Year FGN Bonds The Debt Management Office (DMO) raised N485.48 billion from its monthly bond auction held on Monday, as the authority prioritises the costs of its borrowing plan. Total subscriptions for the reopened Federal Government of Nigeria (FGN) bonds totalled N931.51 billion, with most interest in the 10-year note, according to auction results. At the auction, the Debt Office offered N750 billion worth of Federal Government of Nigeria (FGN) bonds across three reopenings: 5-year, 7-year and 10-year papers. Investors’ subscription for the 5-Year reopening bond totalled N251.43 billion, versus the N250 billion offered…
Boosted by rising demand, the US dollar rallied against its trading pairs to its highest positions in about a year, supported by geopolitical tensions and shifting rate expectations.
Nigerian Treasury Bills Return Shrinks in Post-Auction Rally The average yield on Nigerian Treasury bills fell by 9 basis points in the secondary market, driven by sustained investor interest in the naira asset following the Apex Bank’s rejection of excess bids at the main auction last week. Investors continue to lock in yields due to successive yield repricing at the Treasury bill auction, supported by disinflation and a positive real return on investment. On Monday, the Treasury bills market closed bullish, with the average yield decreasing by 9bps to 17.67%. Buying interest was more pronounced at the short, belly, and…