Author: Olu Anisere

LPG Hoarding: FG Directs NMDPRA to Intensify Depots Monitoring The Federal Government has mandated the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify Liquefied Petroleum Gas (LPG) depots monitoring, to prevent product hoarding following its recent price surge. The Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, gave the directive in a statement issued by his spokesperson, Louis Ibah, in Abuja on Monday. Ekpo expressed concern over the situation, noting that the price of LPG has risen from N1,000/N1,100 per kg to as high as N1,500 and N1,700 per kg in some parts of the country.…

Nigeria’s Oil Output Falls To 1.3 mbpd in September — OPEC Nigeria’s crude oil production dropped to 1.39 million barrels per day (mbpd) in September 2025, newly published data by the Organization of the Petroleum Exporting Countries (OPEC) has shown. This represented an output loss of about 45, 000 barrels per day in the month under review. Analysis of the data contained in the organisation’s October Monthly Oil Market Report (MOMR) released on Monday, revealed that the decline marked a second consecutive month, from 1.434 million bpd recorded in August 2025. The latest production figures were obtained through direct communication…

Daily FX Update: Naira Drops to N1,457/$ at Official Window The naira weakened against the dollar on Monday, declining 0.16% to ₦1,457.51 at the Nigerian foreign exchange market.  The local currency weight versus the dollar reduced across the foreign exchange market, indicating a spike in US dollar demand.  The negative exchange rate direction was influenced by a lower volume of US dollars available at the supply side.  Last week, Nigeria’s forex market stayed strong this week, as the naira continued to gain across both the official and parallel markets. The local currency’s improvement was helped by better foreign exchange inflows,…

FCCPC Backs CBN’s 48-Hour Banks’ Refund Guideline to Customers The Federal Competition and Consumer Protection Commission (FCCPC) has welcomed the Central Bank of Nigeria’s (CBN) draft guidelines requiring banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours. FCCPC in a statement by Mr Ondaje Ijagwu, its Director, Corporate Affairs, in Abuja on Monday, said the draft guideline followed the Consumer Complaints Data Report published by the commission in September. Ijagwu said that the FCCPC, Executive Vice Chairman, Mr Tunji Bello, described the proposal as a timely and long awaited correction to a persistent consumer challenge.…

Rates Diverge as Excess Liquidity Thins Out on CBN Actions Rates mixed as the Central Bank of Nigeria (CBN) open market operations and local Treasury bills auctions significantly reduced excess liquidity level in the financial system last week. At the close of the trading session, the total liquidity level in the financial system was in excess of N3.3 trillion, reflecting significant movement of funds in and out of the market. The still robust funding level stepped down expected impacts of a sharp liquidity mop-up initiated by the CBN on the short-term benchmark interest – keeping funding rates movements in check.…

Bank of Industry Partners Bumpa to Empower 200 Youth-Owned MSMEs Bank of Industry (BoI) has forged a strategic partnership with Bumpa, a leading digital platform, to empower 200 youth-owned Micro, Small, and Medium Enterprises (MSMEs) nationwide. Dr Olasupo Olusi, Managing Director of BoI, confirmed this in a statement on Sunday in Lagos, noting it was under the bank’s youth and skill thematic area. Olusi said the collaboration aimed to equip young entrepreneurs with knowledge and tools to thrive in a digital economy while promoting financial literacy and inclusive economic growth. He explained that the initiative would also address the critical…

AXA Mansard Jumps by 12% as Investors Bet on Earnings Outlook Insurance operator AXA Mansard Plc gained about 12% on the Nigerian Exchange (NGX) as investors made easy entry ahead of the insurance company’s third quarter earnings release. Trading data from the Nigerian Exchange showed that the insurance company’s share price closed at N16.1 on Friday, reflecting overall investors’ sentiment. The insurance stock attracted investors’ attention, and volumes transacted on the Nigerian Exchange were relatively heavy. The market value of the insurance operators rose by 11.80% week on week to N144.90 billion, a substantial discount of 25% below its highest…

Nigeria Bonds Yield Sinks to 16% on Broad-Based Demand The average yield on Nigerian government bonds declined to about 16% as a result of broad-based demand in the secondary market. The yield on government has been slowing down, and the market expects the trend to continue in reaction to the monetary policy interest rate cut. Buying interest experienced last week was supported by excess liquidity in the financial system and positive investors’ sentiment for naira assets amidst disinflation expectation. Trading activities was all positive as investors continue to lock-in yields in anticipation of lower spot rate on Q4 bonds supply. …

CBN Allots 150-Day OMO Bill to Investors at 19.44% Spot Rate The Central Bank of Nigeria (CBN) continued its open market operations on Friday, where N1.28 trillion was raised from local banks and foreign portfolio investors. The significant liquidity level in the financial system triggered the Apex Bank reactions with successive open market operations. Excess liquidity in the financial system could fuel inflation, analysts told MarketForces Africa. The week’s operations marked the fourth liquidity management-propelled action in less than two weeks after the monetary authority absences. At the auction, the authority offered to sell N600 billion worth of OMO bills…

Fitch Affirms Egypt ‘B’ Ratings, Outlook Accorded as Stable Fitch Ratings has affirmed Egypt’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’, with a stable outlook. This means the Egyptian government faces a material default risk regarding its foreign currency financial obligations. Despite this, there is still a limited margin of safety. The ratings revealed that the capacity of government to continue making payments is vulnerable, especially if the business and economic environment deteriorates. According to Fitch, the rating is supported by Egypt’s relatively large economy, fairly high potential gross domestic product (GDP) growth, and strong support from bilateral and…