Author: Olu Anisere

UK Service Sector Records Lacklustre Growth in December Lacklustre business activity growth continued across the UK service sector at the end of 2025. The UK S&P Global Composite PMI was at 51.4 in December of 2025, inching higher from 51.2 in the previous month but revised sharply lower from the preliminary estimate of 52.1 and missing the initial market estimates of 51.6. Still, the result reflected the eighth consecutive period of expansion in British private sector activity, with a slightly firmer expansion for services compared with 51.3 in November and an extension to the rebound for manufacturers, which was their…

Nigerian Bourse Swells as Equity Portfolio Rises by N469bn The Nigerian Exchange (NGX), the local bourse, swelled as equity portfolio value increased by about N469 billion on Tuesday, supported by bargain hunting. The local bourse benchmark index, or all-share index, closed higher for the 16th consecutive session as local retail and institutional investors dominated trading activities. According to trading data reviewed, the Nigerian Exchange all-share index and market capitalisation advanced by 0.46% to reach 159,951.08 and N102.28 trillion, respectively. Trading activity displayed mixed results as share volume increased 7.12% to 745.2 million units and transaction value rose 4.48% to ₦19.4…

U.S. Dollar Inflow into Nigeria’s FX Market Drops by 21% Total U.S. dollar volume flows into the Nigeria Foreign Exchange Market (NFEM) declined by 20.67% week on week to US$593.70 million from US$748.40 million in the prior week, Coronation Merchant Bank’s research subsidiary said in a report. According to the report, the slowdown reflects softer market activity at the start of the year, as well as reduced participation from offshore investors. Coronation Research said local sources remained the dominant contributors, accounting for 82.95% of the total FX inflow recorded last week in the official market. The breakdown showed that the…

Capital Gains Tax Downside to Stock Market Growth in 2026 – Firm With the implementation of the new capital gains tax starting in 2026, Nigeria will charge up to 30% on investors that realised above N150 million in gain from trading shares in the local bourse.  The market is expected to react negatively to the equity gain tax which exempted retail investors with less than benchmark capital appreciation on trading deals. The tax will be applied only to investors that make at least N150 million from selling shares in Nigerian Exchange, and not those whose portfolio value only increase. The…

Interbank Bank Rates Steady over Robust System Liquidity Interbank rates were steadied due to excess liquidity in the money market, investment banking firms said in separate reports following the Central Bank open market operation action last week. Deposit money banks continued to park cash into the Central Bank ahead of expected monetary easing in the first quarter of 2026. No funding requests were recorded at the Standing Lending Facility window in the absence of funding pressures. Average daily liquidity in December eased by 1% to ₦3.23 trillion, from ₦3.35 trillion in November. The short term interest rates settled at floor…

OPEC+ Keeps Output as Oil Prices Drop by 18% in 2025 The Organisation of Petroleum Exporting Countries (OPEC) and allies members (OPEC+) kept oil output unchanged amidst global demand and supply uncertainties. At the meeting held on Sunday, the oil group deliberately avoided discussion of the political crises affecting several of the producer group’s members. The meeting of eight members of OPEC+, which pumps about half the world’s oil, came after oil prices fell more than 18% in 2025—their steepest yearly drop since 2020—amid growing oversupply concerns. Due to geopolitical tensions in the Middle East and Russia-Ukraine war, demand and…

UBA Target Price Set at N71 Per Share Ahead of Q4 Pan-African lender United Bank for Africa (UBA) Plc’s target price has been set at N71 by Lagos-based investment firm Cowry Asset Management Limited, reflecting significant upside in its share price in the stock market on Friday. The Nigerian Exchange (NGX) opened 2026 with a bullish note after gaining about 52% in 12 months.  NGX closed the trading session strong as market value of all listed companies surged to about N99.4 trillion. The banking index gained 2.96% as sectoral performance closed positive. Ahead of the fourth quarter of 2025 earnings…

GTCO Slides to £1,754.85m in London Stock Exchange Guaranty Trust Holding Company Plc (GTCO) slipped by 2.16% to £1,754.85 million in the London Stock Exchange, trading data from the bourse tracked by MarketForces Africa shows. The financial services company has seen significant fluctuation in trading volume at the London stock market. As market anticipates the release of Q4 earnings, trading volume rose to 470.45 million in Oct, and slumped to 10.82 million in Dec. The banking stock settled at £0.06 following sell pressures as investors sentiment declined ahead of earnings. Trading activities have been minimal, restricting how the financial services…

Tinubu Saves N10trn Annually From Oil Subsidy Removal—Sen. Adeola Sen. Solomon Adeola (APC–Ogun West) has revealed that Nigeria now saves approximately N10 trillion annually following President Bola Tinubu’s removal of fuel subsidy. Adeola, Chairman, Senate Committee on Appropriation, stated this on Saturday during his New Year thanksgiving service held at the Cathedral Church of Christ, Ona-Nla, Ilaro. The senator noted that within two years in office, the President had succeeded in removing a major cankerworm that had undermined the nation’s economy and finances. According to him, before the removal, few Nigerians were benefiting from the fuel subsidy at the detriment…

Guinness Nigeria Replaces United Capital Plc in the NGX 30 Index. The Nigerian Exchange Ltd., (NGX) said this on Friday, following the announcement of its full year market index review. According to NGX, the reviewed indices included: NGX 30; NGX Lotus Islamic; NGX Pension; NGX Pension Broad Index; Corporate Governance Index; Afrinvest Bank Value Index; Afrinvest Dividend Yield Index; Meristem Growth Index and Meristem Value Index. Also, the five Sectoral Indices of The Exchange: NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil & Gas. The review had led to the entry and exit of some companies…