Author: Olu Anisere

External Reserves Fall by US$3.5 Billion in H1-2025 Nigeria’s gross external reserves fell to $37.181 billion, according to latest data update from the Central Bank of Nigeria (CBN) currency platform, following successive outflows for offshore FX obligations. Gross external reserves recorded a significant decline of approximately $3.5 billion in the first half of 2025, dropping from $40.88 billion at the close of December 2024 to $37.37 billion as of June 26, 2025. The FX reserves have consistently trended downward throughout the period, reflecting a mix of FX market pressures and elevated external obligations, analysts at Anchoria Limited said in a…

Oil Prices See 2.5% Weekly Surge Amidst Uncertainties Oil prices increased by 2.5% for the week due to a decline in the US dollar and positive investor sentiment at the start of the week. However, prices faced challenges midweek from growing US inventories, trade disputes, and forecasts of higher OPEC+ production. Brent crude was trading at $68.01 on Friday, marking a rise of around 2.5% from last week’s closing price of $66.33. The American benchmark West Texas Intermediate (WTI) traded at $65.76 per barrel, up approximately 2% from last Friday’s close of $64.54. Prices started the week on a positive…

Nigerian Exchange Indicators Mixed as Notore Chemical Delists The Nigerian equity market concluded the first trading week of the second half of 2025 on a cautiously upbeat note, even as its headline gauges moved in opposite directions. The Nigerian Exchange All Share Index inched higher by 0.01%, adding 12.46 points to finish at 120,989.66 at the close of trading session on Friday. However, market capitalization fell by ₦244.02 billion to close at ₦76.34 trillion, reflecting the full delisting of NOTORE Chemical Industries Plc’s entire issued share capital on Friday. The marginal rise in the index underscores investors’ guarded sentiment, as…

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…