Author: Olu Anisere

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…

Gold price climbed to an all-time high of $3115 on Wednesday in the global commodities market amidst increase move into safe haven.

IMG Posts N1.6bn Profit for 2024 The Industrial and Medical Gases Nigeria (IMG) has recorded N1.622 billion profit for the financial year ended Dec. 31, 2024. This is a 90 per cent increase from N852.75 million recorded in 2023. The company declared this in a corporate disclosure through the Nigerian Exchange Ltd. on Tuesday. While its revenue rose by 38 per cent from N6.064 billion in 2023 to N8.376 billion in 2024, the company’s profit before income tax also grew by 96 per cent from N1.247 billion in 2023 to N2.442 billion in 2024. Its share capital remained the same…

How Nigeria Can Maximize $500m World Bank Loan- LCCI The Lagos Chamber of Commerce and Industry (LCCI) has outlined strategic approaches aimed at maximising the benefits of the $500 million loan by the World Bank to Nigeria while mitigating associated risks. The Director General, LCCI, Dr Chinyere Almona, made this known on Tuesday in Lagos in reaction to the approval of the loan by the World Bank to the country. A fresh $500 million dollars loan was approved to support the country’s Community Action for Resilience and Economic Stimulus Programme. According to Almona, the development comes at a crucial time…

AI key to Insurance Growth in Nigeria – AXA Mansard AXA Mansard Insurance says technology and innovation, through the adoption of Artificial Intelligence (AI), will transform Nigeria’s insurance landscape.Its Chief Distribution Officer, Jumoke Odunlami, in a statement on Tuesday in Lagos, advised insurers to embrace the improved use of AI to accelerate the growth and adoption of insurance in Nigeria. Odunlami said technology and Artificial Intelligence (AI) would play crucial roles in bridging the knowledge gap on insurance in Nigeria. She said technology would help get insurance into the hands of more Nigerians, and AI would help address some of…

Cadbury Nigeria Records N22bn Loss for 2024 Cadbury Nigeria has recorded a N22.2 billion loss for the 2024 financial year. This is a one per cent decrease from its 2023 loss of N22.4 billion. Cadbury Nigeria made this known in a corporate disclosure through the Nigerian Exchange Ltd. on Tuesday. The company’s revenue grew from N80.378 billion in 2023 to N129 billion in 2024, recording a 61 per cent increase. However, its gross profit grew marginally by five per cent to N18.227 billion from N17.337 billion. The company’s share capital increased by 21 per cent from N939 million in 2023…

Yield on US 10-Year Treasury Note Falls to 4.2% US 10-year Treasury note yield fell by six basis points to close behind 4.2% on Monday, trading near its four-week low, as investors sought safety on recession fears that follow escalating trade tensions. Investors have expressed concerns that U.S President Donald Trump tariffs threats against trading partners would trigger an unintended economic consequences, and global inflation. Key ratings agencies have started cutting global growth outlook with expectation of massive economic distortions as a result of trade war. Goldman also says it is lowering its 2025 Q4/Q4 real GDP growth forecast by…

Oil Prices Increase as U.S Threats Raise Supply Risks Oil prices increased in the global commodities market after US President Donald Trump threatened Russian oil buyers with additional tariffs over ceasefire efforts in Ukraine and warned of unprecedented bombing of Iran if it refused to agree to a nuclear deal. Brent crude, increased by around 0.69% trading at $73.22 per barrel, up from $72.76 at the previous session’s close. The US benchmark, West Texas Intermediate (WTI) rose by about 0.66%, settling at $69.80 per barrel, compared to its prior session close of $69.36. Trump threatened Iran Sunday with unprecedented bombing…