Author: Olu Anisere

Nigeria’s Oil Production Rises Above OPEC Quota Nigeria exceeded its OPEC crude oil production quota of 1.5 million barrels per day (bpd) in June, marking the second time it has surpassed the allocation in 2025. OPEC’s Monthly Oil Market Report (MOMR) for July, 2025 revealed that Nigeria recorded 1,505mbpd crude oil production in June 2025. Nigeria for the second time exceeded the OPEC quota, first was in January and second in June. The Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) remarks on June production showed that Nigeria’s average daily crude production was 1.505,474 bpd, representing 100.4 per cent of the OPEC…

Atiku Resigns from PDP, Says Decision Heart-Breaking Former Vice-President Atiku Abubakar has formally resigned his membership of the Peoples Democratic Party, with immediate effect. Abubakar, in his resignation letter dated July 14 and addressed to the PDP Chairman, Jada 1 Ward, Jada LGA of Adamawa, described his decision as heart-breaking, attributing it to the irreconcilable differences within the party. He appreciated the party for the opportunities given him, saying, “serving two full terms as vice-president of Nigeria and being a presidential candidate twice has been one of the most significant chapters of my life. “As a founding father of this…

FPIs Trim Nigerian Eurobond Holdings, U.S Treasury Yield Steady Foreign portfolio investors (FPIs) trimmed Nigerian sovereign Eurobond holdings at the international market in reaction to a flurry of global trade headlines. Traders pull back from ramping up as global uncertainties increase with tariffs and extra tariffs on countries that join BRICs by the U.S. administration. Hence, the risk-off sentiment pushed the average yield on Nigerian sovereign US dollar-denominated papers upward by 10 basis points to 8.65%. The market witnessed sell-off pressure across the yield curve—most notably in the FEB 2038 Eurobond. On the other hand, the 10-year U.S. Treasury yield…

Rand Up Against Dollar Amidst Tariff Threats Facing South Africa In the global forex market, the rand (ZAR) strengthened against the US dollar (USD) amidst renewed tariff threats facing South Africa. The South African government is facing an extra tariff threat from the US as a member of BRICS, a group of major emerging economies consisting of Brazil, Russia, India, China, and South Africa. These countries are promoting collective interests in various areas, including economics, politics, and social development, amidst plans to decouple from the US dollar’s dominance as a global currency. On Tuesday, the rand traded at 17.7775 against…

Euro Falls as US Tariff Threatens Europe Exporters The euro pulled back against the US dollar on Tuesday as the market weighed a 30% tariff on European trade with the United States under President Donald Trump’s administration. Euro/dollar settled at 1.1603 dollars, down by 0.55% on the day after hovering near a three-week low, as traders weighed ongoing trade developments. Trump announced a 30% tariff on imports from the European Union starting August 1st, though he later signaled openness to negotiations. Europe’s exporters will struggle to make up for lost U.S. demand as higher tariffs push up prices, Oxford Economics’…

Ethereum Crossed $3,000, Trades at Six Months High Trading at six months high, Ethereum (ETH-USD) crossed $3,000 in the cryptocurrencies market after a long time. The second largest digital asset climbed over renewed investors’ sentiment. Data from CoinMarketCap.com showed that Ethereum surged to $3078, up by 2.27% in the last 24 hours in the crypto market. ETHUSD has gained about 18% in the past seven days alone, reaching a new local high of $3,078. Interestingly, bullish technical structures are starting to emerge that could send the ETH price soaring toward new all-time highs, analysts said. The price appreciation of ETH…

Niger Unlocks Access to $41m IMF Loans Niger has unlocked access to $41 million loan from the International Monetary Fund (IMF) as the Executive Board completed the Seventh Review under the Extended Credit Facility (ECF) Arrangement, and the Third Review under the Resilience and Sustainability Facility (RSF) Arrangement. According to an official statement, the completion of the reviews allow for an immediate disbursement of about US$41 million cumulatively under the ECF and the RSF. Niger growth in 2024 is estimated at 10.3 percent, driven by the start of crude oil exports and an exceptional agricultural harvest, and is expected to…

FirstHoldco Jumps by 14% Ahead of Board Meeting, Earnings The market value of FirstHoldco Plc surged by over 14% in the stock market from the previous week due to sporadic market rallies and changing investor sentiment in anticipation of its upcoming second-quarter earnings report. With a market value of N1.220 trillion, the First Holdco Plc now ranks lowest in terms of valuation in the stock market, falling behind all tier-1 financial institutions. This reflects its performance outlook and investor sentiments. First Holdco had led the tier-1 category as most valuable before its internal crises plunged the brand down the ladder,…

Zenith Bank Soars to N2.9Trn, Investors Eye Earning, Dividend Zenith Bank Plc expanded to about N2.9 trillion in the stock market due to sharp price appreciation that followed its all-week rally. The bank share price reached its all-time high in the equities market, closing at N69.7 after 55.149 million units valued at N3.771 billion exchanged hands on Friday.  Zenith Bank’s shares opened at N57.50 at the beginning of the trading session last week, at the point when its year-to-date return was 26.50%, versus N68 target price set by Anchoria Securities Limited. The all-week rally pushed the market value of Zenith…

Exchange Rates Deteriorate Across Nigeria’s Forex Markets Naira’s exchange rates deteriorated across Nigeria’s foreign exchange (FX) markets due to renewed pressures from increased demand for US dollars. The naira faced renewed pressure this week, slipping across both official and parallel markets amid rising demand for the U.S. dollar and constrained FX supply. US dollar daybook logged showed FX jerked up above the supply levels, despite a fresh $50 million FX intervention by the Central Bank. At the official window, the naira weakened by 0.11% week-on-week to close at N1,530.26 per dollar, reflecting a thinning liquidity environment. The parallel market mirrored…