Author: Olu Anisere

Dangote Cement Hits 52-Week High, Surpasses N10 Trillion The market value of Dangote Cement Plc’s 16.873 billion shares outstanding on the Nigerian Exchange (NGX) surpassed N10 trillion on Thursday following sustained buying interest. Traded at highest level seen in 52-week, the cement company share price rose to N599.80, up by 2.42% as more than 1.695 million valued at N1.003 billion were traded in the local bourse. The cement company value has increased by 4.31% since the beginning of the week as investors await the release of third quarter financial scorecards. Investors’ positive sentiment fuelled the company’s price appreciation which listed…

China’s Export Surge Strengthens Xi’s Hand as Trump Raises Trade War Stakes China’s booming exports have handed Beijing critical leverage as President Xi Jinping and US President Donald Trump lock into the fiercest trade confrontation in years, warns global financial advisory giant deVere Group. China’s exports jumped 8.3% in September from a year earlier, smashing forecasts and outpacing August’s growth. Imports climbed 7.4%, a signal that the country’s industrial engine remains formidable despite Washington’s efforts to apply pressure through tariffs and technology restrictions. The surge lands as US Treasury Secretary Scott Bessent hints that the current three-month pause on import duties…

Bonds Yield Falls, Real Interest Rate Widens on Disinflation The Nigerian government bond traded on a bullish note in the secondary market, with yields declining across the curve. Demand for debt papers heightened on Wednesday, a positioning that was influenced by the spot rate outlook at the Debt Office Q4 auctions. As inflation falls, and the market hopes for interest rate cuts to drive growth, investors in the Nigerian debt market locked in yields on naira assets. Analysts said spot rate pricing on local bonds supply will be impacted by fast-changing and perhaps improving macroeconomic indicators, which are expected to…

Oil Rallies as India Halts Russian Seaborne Crude Purchase Oil prices increased on Thursday after US President Donald Trump said that India would stop importing oil from Russia. The elimination of Russian exports will reduce oil glut concerns and lift market sentiment, despite lingering uncertainties over US-China trade tensions. Russian seaborne oil exports have been affected by both increased volume and geopolitical factors, including Ukrainian drone attacks on refining infrastructure and Western sanctions like the G7 price cap. EU and US sanctions have also reduced Moscow receipts from oil sales. Over time, key buyers of Russian discounted seaborne oil remain…

Rates Shift as Banks’ Placements at CBN Window Declines Amidst a slowdown in banks’ placement, Nigerian interbank rates showed mixed movements on Wednesday, with overnight rates falling 0.2% to 24.83% due to enhanced system liquidity exceeding ₦1.6 trillion. The financial system liquidity was spurred by ₦300 billion in OMO bill maturities on Tuesday. The funding system fluctuated, closing lower from more than N2 trillion surplus on record. Banks continue to deposit funds with the CentralBbank, aiming at earning a standard deposit rate of 24.5% versus a lower yield on Nigerian Treasury bills. Despite improved macroeconomic data, commercial banks’ lending appetite…

British Pound Climbs Ahead of UK Economic Data The British pound climbed to $1.3375 on Wednesday, its highest level in two weeks, as the US dollar slumped.  The sterling rally came ahead of UK economic growth data. On Wednesday, the sterling reacted positively following remarks from US Federal Reserve Chair Jerome Powell, who hinted that more rate cuts were likely on the way. Powell expressed concerns that the US labor market has continued to weaken even though the Bureau of Labor Statistics did not publish the September jobs numbers because of the ongoing government shutdown. Early trading data revealed…

Court Delivers Ruling in Binance Motion Challenging FIRS’ Substituted Service The Federal High Court in Abuja has fixed Nov. 12 for ruling in a motion filed by Binance Holdings Limited seeking to void the substituted service of court documents served on it by the Federal Inland Revenue Service (FIRS). Justice Mohammed Umar, on Wednesday, fixed the date after Binance lawyer and counsel for the FIRS adopted their processes and presented their arguments for and against the application. The agency had, in the suit dragged Binance, Tigran Gambaryan and Nadeem Anjarwalla, who were the company’s representatives, to court, demanding 79.5 billion…

Market Cap of All Listed Companies on NGX Rises by N20bn Equities market capitalisation of all listed companies on the Nigerian Exchange (NGX) rose by N20 billion, supported by light buying momentum in the local bourse on Wednesday. The stock market reversed losses by 0.02 per cent on Wednesday, recording N20 billion gain for investors after a day negative run. The positive performance was due to returned investors’ interest in stocks like Skye Shelter Fund, Royal Exchange, International Energy Insurance, Julius Berger, Omatek and 29 other stocks. Specifically, the market capitalisation, which opened at N93.756 trillion, added N20 billion to…

Elumelu Seeks AI, Digital Investments to Unlock Africa’s Potential Chairman of Heirs Holdings, Tony Elumelu, has called for a deliberate and coordinated global effort to invest in Artificial Intelligence (AI) and digital infrastructure across Africa to unlock the content’s productivity potential. Elumelu made the call on Wednesday, in Washington at a seminar on “Boosting Productivity Growth in the Digital Age” on the sidelines of the annual meetings of the IMF/World Bank Group. He said that such investments were essential tools for unlocking the continent’s productivity and prosperity in the 21st century. According to him, true productivity goes beyond mere output…

IMF Upgrades Nigeria’s Economic Growth Forecast to 3.9% Reflecting improved macroeconomic indicators, the International Monetary Fund (IMF) has revised Nigeria’s 2025 growth forecast up to 3.9% as reforms begin to yield results. In its latest World Economic Outlook released during the IMF/World Bank Annual Meetings in Washington DC, the Fund now expects Nigeria’s economy to expand by 3.9% in 2025 and 4.2% in 2026. These represent significant upward revisions of 0.5, and 0.9 percentage points, respectively, from its earlier forecasts. The IMF attributed the improved outlook to a combination of factors, including a stronger exchange rate, better fiscal management, increased…