Author: Olu Anisere

FG to Generate Over $200bn Annually from Space Regulation, Licensing The Federal Government on Tuesday in Abuja said it could generate over 200 billion dollars annually from space regulation and licensing. Chief Uche Nnaji, Minister of Innovation, Science and Technology said this at a one-day sensitisation and stakeholders engagement on the commencement of space regulation, spectrum management and licensing in Nigeria. The workshop was organised by the National Space Research and Development Agency (NASRDA). Nnaji said the workshop was a bold step towards building a fair competitive space industry that could contribute directly to Nigeria’s economic development and technological leadership.…

Oil Prices Climb amidst Global Trade Shift Concerns Crude oil prices rebounded in the global commodity market on Tuesday despite the US-initiated trade war and the Organisation of Petroleum Exporting Countries (OPEC) and allied members (OPEC+) plan to boost output in May despite uncertainties. Brent crude rose by around 0.3%, trading at $64.49 per barrel, up from $64.29 at the previous session’s close. US benchmark West Texas Intermediate rose about 0.2%, settling at $60.95 per barrel, compared to its prior session close of $60.80. Following US President Donald Trump’s announcement of strict tariffs against several major economies, oil prices hit…

NGX Index Dips as Investors Exit Positions in Oando, Access The Nigerian Exchange (NGX) All-Share Index (ASI) dipped during the intraday trading session as equities investors began to pull out funds from the local bourse, targeting banking and energy stocks. Most of the sell pressures were seen in banking names, led by Tier-1 names, in addition to significant position adjustment in Oando Plc which has cost the energy stock about 10% of its market value. Reflecting the past week’s mood, the market opened in red as negative sentiment deepened after more than N109 billion reduction in investors stock portfolio value…

14% Tariff on Nigeria’s Exports to Hit FX Receipt, Raise Macro Risks—Analysts As the U.S. President, Donald Trump begins to redefine global trade, a 14% tariff on Nigerian exports has been noted to be a curveball that will test the country’s economic resilience and policies resolve. Lower FX earnings will expose Nigeria’s vulnerability with a potential to trigger a foreign currency crunch in the markets. Last week, the Trump administration announced a 14% tariff on imports from Nigeria as part of a sweeping protectionist policy targeting multiple countries. The initiative includes a baseline 10% tariff on all imports into the…

First Holdco Falls to N933bn ahead of Audited Report First Holdco Plc market value fell by more than 10% in the last seven trading session on Nigerian Exchange (NGX) to settle at N933 billion on Friday as investors sell down positions in the financial services group. Sentiment remained depressed as investors look forwards to the group’s audited report for financial year 2024, and possibly dividend announce. First Holdco said in a regulatory filing that its board would consider the group audited report at a meeting scheduled for March 21. The absence of the elephant branded financial services group’ audited earnings,…

Nigeria’s Foreign Debt Service Cost Slides to $278m Debt services on foreign borrowings declined by 2.3% in 12 months to about $278 million as of February, 2025, analysts said in a commentary note, citing data from the Central Bank. The total amount of foreign payments made by the Central Bank of Nigeria (CBN) accelerated by more than 17% in 12 months, primarily driven by debt service costs, and letter of credits among others. As of February 2025, international payments increased by 17.2% year on year to USD497.91 million in February from USD424.96 million amidst sequence of external borrowings. This was…

NDDC Releases N10bn to Boost Entrepreneurship in Niger Delta Region The Niger Delta Development Commission (NDDC) has released N10 billion to the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) to stimulate entrepreneurship and economic growth in the region. The Managing Director of NDDC, Dr. Samuel Ogbuku, announced this at the inauguration of the board of NDCCITMA directors in Port Harcourt on Friday. Ogbuku explained that the N10 billion was an initial deposit of the N30 billion promised by the commission to invest in the chamber in order to kick start the entrepreneurship development programme. “Earlier, I…

Nigerian Breweries Predicts Economic Growth in 2025 Mrs Juliet Anammah, Chairperson of the Board of Directors, Nigerian Breweries Plc, says the company expects a positive economic outlook for 2025. Anammah, represented by Mr Hans Essaadi, the company’s Managing Director, stated this at its 79th Pre-Annual General Meeting on Thursday in Lagos. She noted that inflation was projected to ease due to a higher base effect, stabilisation of foreign exchange rates, and normalisation of energy prices following subsidy removal. She added that the rebasing of Nigeria’s Consumer Price Index (CPI) would create statistical effects, leading to lower headline inflation figures. “The…

FCMB, UCAP Drive Intraday Gain in Nigerian Equities Market Led by demand for FCMB, United Capital (UCAP) Plc, equities market index is tracking positively during intraday trading session on the Nigerian Exchange (NGX) trading platform. Trading details showed that the local bourse is struggling to recover from sell pressures with marginal uptick of two basis points at noon. Stockbrokers said the equities market has slim chance to close positively based on trading pattern while there are still some unexecuted trading orders. At mid-day, the NGX All Share Index experienced a slight upward movement, posting a gain of 0.02%, Alpha Morgan…

Treasury Bills Yield Rises to 19.5% Ahead of Q2 Supply With the bearish trade in the secondary market, the average yield on Nigerian Treasury bills rose by 11 basis points to settle at 19.6%, according to investors notes reviewed. Trading activities at the Nigerian Treasury bills secondary market were bearish after the Islamic holiday. The sell down in naira assets lifted the yield curve across the belly and the long end of the curve, traders said. Demand emerged later for the new 1-year paper (26 Mar 2025) and, to a lesser extent, the long-end Feb OMO bill, according to AIICO…