Author: Olu Anisere

Oil Prices Slide on OPEC+ Output Raise Outlook Oil prices slide in the global commodity market amid signs of renewed nuclear diplomacy between the US and Iran, expectations of increased output from the OPEC+ alliance, and ongoing concerns over US’ protectionist trade policies. International benchmark Brent crude fell by 0.21%, trading at $68.41 per barrel, down from $68.56 at the previous session’s close. Similarly, US benchmark West Texas Intermediate (WTI) decreased by about 0.12%, settling at $66.24 per barrel, compared to $66.32 in the prior session. The potential for renewed diplomacy between Tehran and Washington has eased fears of conflict…

Nigeria to End Diesel Dependency, Cut Carbon Emissions – Shettima Vice-President Kashim Shettima, says Nigeria will soon phase out diesel dependency and cut carbon emissions through the nation’s integrated hybrid energy system. Shettima said this on Wednesday while declaring open the Decarbonising Infrastructure in Nigeria Summit (DIN SUMMIT), in Abuja. He warned that Nigeria would struggle to compete or catch up with the world, if the nation’s climate dreams do not align with its development realities. “Onne Port, for instance, is already emerging as the template for our quest to breathe life into a robust green economy. ” Discussions are…

Niger Partners FMBN to Address Housing Deficit Gov. Mohammed Bago of Niger on Wednesday pledged to partner with the Federal Mortgage Bank of Nigeria (FMBN) and other relevant agencies to address the housing deficit in the state. Bago made the pledge when he received the FMBN Managing Director, Mr Shehu Usman Osidi, and his team in Government ger satteHouse, Minna. In a statement issued by his Chief Press Secretary, Mr Bologi Ibrahim, on Wednesday in Minna, the governor urged financial institutions to select viable sites for housing development to ensure effective service delivery. On the funds allegedly owed to the…

Oil Prices Fall over US Demand, Trade Policy Uncertainties In the global commodity market, the prices of crude oil fell on Wednesday amid renewed concerns over US trade policy, expectations of elevated inflation, and signs of weak demand in the world’s largest oil consumer, the US. Brent crude fell by 0.1%, trading at $66.99 per barrel, down from $67.09 at the previous session’s close. Similarly, US benchmark West Texas Intermediate (WTI) decreased by about 0.2%, settling $64.78 per barrel, compared to $64.94 in the prior session. The downward pressure comes as US President Donald Trump reiterated that he has no…

DMO Raises N799bn from Bonds, Rejects 49% of Total Bids in Q2 The Debt Management Office (DMO) raised N798.60 billion from Federal Government of Nigeria (FGN) bonds sold to investors across primary market auctions conducted in the second quarter of 2025. The amount raised was higher than N750 billion in total offers across three primary market auctions. Meanwhile, the total amount raised was 51% of the aggregate subscriptions recorded across its monthly auction, totaling N1.54 trillion in the last three months. The authority was less aggressive than earlier anticipated, signaling a shift from its usual activities in local debt market…

Conoil, Julius Berger Exit NGX 30 After H1 Index Review Aradel Holdings and Wema Bank have replaced Conoil and Julius Berger in the NGX 30 Index. This is according to the Nigerian Exchange Ltd. (NGX) on Tuesday, announcing the result of its half year (H1) market index review. The review has led to the entry and exit of some companies from several indices which took effect at the open of the market on Tuesday 1, July. The review covers the following indices: NGX 30; NGX Lotus Islamic; NGX Pension; NGX Pension Broad Index; Corporate Governance Index; Afrinvest Bank Value Index;…

U.S.-Africa Business Summit Yields $2.5bn in Deals, Commitments The United States says the 17th U.S.-Africa Business Summit yielded more than 2.5 billion dollars in new deals and commitments between U.S. and African partners. The U.S. Department of State said the summit, which held from June 22 to 25, attracted more than 2,700 U.S. and African public and private sector leaders. The Department said the summit was hosted by the Corporate Council on Africa and the President of Angola, noting this year’s summit marked a record turnout, including 12 African Heads of State. “During the summit, more than 2.5 billion dollars…

Offshore Investors Exit Drag Nigeria’s Balance of Payment in Q1 The Nigerian economy was impacted by a large-scale outflow of funds in the first quarter of the year, reflecting sharp risk-off sentiment that followed the US tariff threats. The financial market witnessed sharp outflows of funds from local debt and equities markets as offshore investors sought safe haven assets due to uncertainties.  The global trade dislocation triggered by the US resulted in huge capital flight that threatened the naira value in Q1. Offshore investors’ demand for forex spiked, forcing aggressive FX intervention from the Central Bank to keep the naira…

Credit to Private Sector Increases by 4.7% in 12 Months The amount of credit channeled to the private sector increased by 4.7% year on year at the end of May, according to data obtained from the Central Bank of Nigeria (CBN) report. Some analysts said the rate of growth was insignificant for the private sector to contribute meaningfully to Nigerian economic growth. Borrowing costs remain elevated since the monetary policy tightening pushed the benchmark interest rate near 28%. Many companies are scaling back on expansion projects due to elevated costs of borrowing from banks and other funding sources. The CBN…

US Companies Sign Major Trade Deals with Africa in Shift from Aid to Investment US companies have signed significant trade deals with Africa, marking a shift from traditional aid to trade-driven engagement. This move is part of the Trump administration’s strategy to challenge China’s dominant infrastructure influence on the continent. The deals were agreed upon at the US-Africa Business Summit in Angola, which concluded on June 26, 2025. The summit underscored Washington’s push for growth through trade, not aid, with US companies pledging investments in Africa ranging from power lines to digital infrastructure. One notable project is the Lobito Corridor…