Author: Olu Anisere

Nigeria’s Debt Management Office, DMO, will be raising N450 billion from the primary market auction as part of efforts to close the 2025 budget deficit gap.

Nigerian Bonds Yield Rises to 20.75% Ahead of First Auction The Nigerian bonds benchmark yield rose to 20.72% in the secondary market over sustained sell pressures ahead of the Debt Management Office primary market auction on Monday. Local bonds market participants continued to aggressively offload securities in anticipation of higher yields at the auction. Hence, the average yield increased by 65 basis points to 20.70%, Cordros Capital Limited told investors in a note ahead of first supply in 2025. Across the benchmark curve, the average yield increased at the short (+87bps), mid (+27bps), and long (+92bps) segments, according to Cordros…

Tinubu Signs N32.7bn for National Social Investment Programme President Bola Tinubu has approved the sum of N32.7 billion for the implementation of the National Social Investment Programme (NSIP). Prof. Nentawe Yilwata, the Minister of Humanitarian Affairs and Poverty Alleviation, said this during the launching of the State Action Plan durable solutions for Internally Displaced Persons (IDPs) on Friday in Makurdi. Yilwata said the approval was in line with the President’s Renewed Hope Agenda, aimed at prioritising the most vulnerable groups in the country. He said the funds would be used to support vulnerable groups in the country with non-collateral and…

Equities investors healthy appetite for GTCO, Zenith Bank, and other financial stocks bolstered the Nigerian Exchange banking index on Thursday, stockbrokers said.

Oil Prices Retreated Below $80 over U.S Tariff Threats Oil prices have retreated below $80 per barrel in the global commodity market after U.S President Donald Trump declared national emergency on energy. The international benchmark Brent crude fell by 0.6%. The US benchmark West Texas Intermediate (WTI) decreased by 0.8%, reaching $75.34 per barrel, compared to its prior session close of $75.94. Trump’s policies to boost US oil and gas production in line with his campaign promises have reinforced the perception that there will be no significant supply disruptions in global markets, thereby contributing to the downward pressure on oil…

Yield Slips ahead of CBN’s N530bn Treasury Bills Auction The average yield on Nigerian Treasury bills slipped slightly as a result of increasing demand for naira assets in the fixed income market. Traders said in separate reports that yield declined by 2 basis points to settle at 25% in the secondary market as investors boost portfolios ahead of the primary market auction. On behalf of the Central Bank of Nigeria (CBN), the Debt Management Office will offer N530 billion across standard maturities to investors in the primary market on Wednesday. Investment banking firm analysts have started to predict that demand…

Nigeria’s CNG Conversion Capacity Increases by 2,500% – NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that the country’s Compressed Natural Gas (CNG) conversion capacity increased by over 2,500 per cent in 2024. Mr Farouk Ahmed, Authority Chief Executive, NMDPRA, said this on Thursday in Abuja at the inaugural Petroleum Industry Stakeholders’ Forum, organised by the Ministry of Petroleum Resources. Ahmed said that NMDPRA supported the Presidential Compressed Natural Gas Initiative (PCNGI) by stimulating 186 new conversion centers which triggered the county’s conversion capacity. “The NMDPRA will continue to collaborate with the PCNGI to ensure deployment…

Oil Prices Decline on Middle East Ceasefire, Market Correction Oil prices dipped in the global commodity market amidst mounting supply risk relating to U.S. sanctions on the Russian complex. Brent is trading below $82 on market riskoffs sentiment as Israeli and Hamas ceasefire ignites hope. Oil prices traded weaker yesterday, with Brent falling back below US$82 per barrel. From a technical point of view, the market is in overbought territory and so overdue a correction, ING commodities strategists said in a note. Analysts believe that mounting supply risks continue to provide broad support to oil prices. There are reports that…

Interbank Rates Decline as Banking System Deficit Moderated The banking system is facing a huge liquidity deficit, which at the last count was N190.50 billion on Thursday, an improvement from N249.3 billion deficit reported midweek. The inflows that reduced pressures of liquidity size affected the short-term interest rates benchmark. Interbank rates eased as the banking system liquidity deficit moderated, investment firms said in separate reports. On Thursday, the deficit in the banking system moderated by about 24% to close at ₦190.50 billion. The banking system has been relatively tight this week, with a liquidity deficit as high as N389.7 billion…

NGX Rebounds with N53bn Gain as Dangote, GTCO Rally The Nigerian Exchange (NGX) rebounded with more than N53 billion daily gain as Dangote names, GTCO Plc rally. The domestic bourse closed trading activities on a positive note, breaking its recent losing streaks. This nudged key market performance indicators higher by 0.09% after inflation data. Today’s gain on the Exchange was driven by bargain hunting in some recently depreciated medium and large-scale stocks, including DANGSUGAR, DANGCEM, GTCO, and others. The Nigerian Exchange All-Share Index increased by 87.11 basis points today, representing a rise of +0.09% to close at 102,183.06. Stockbrokers reported…