Author: Olu Anisere

China Inaugurates 2025 Economic Roadmap, Targets 5% GDP Growth The Government of China has inaugurated its 2025 economic Roadmap centred on bolstering five per cent GDP growth, innovation and investment. The roadmap is centred on boosting consumption, innovation and technology, fiscal and monetary policy implementation, as well as market reform. China’s Premier Li Qiang disclosed this during the virtual presentation of the Chinese government work report against the backdrop of the third session of the 14th National People’s Congress (NPC) in Beijing, China. He stated that the focus of the roadmap was fiscal expansion, technological innovation, and foreign investment, outlining…

Nigeria Records N3.43trn as Trade Surplus in Q4 Nigeria recorded a trade surplus of N3.43 trillion in the fourth quarter of (Q4) 2024, according to the latest foreign trade report from the National Bureau of Statistics (NBS). Total merchandise trade stood at N36.61 trillion, reflecting a 2.2% increase from Q3 2024. However, the figure showed trades spiked by 68.32% when compared to Q4 2023. Total exports settled at N20.01 trillion, accounting for 54.68% of total trade. This represents a 2.55% decline from the N20.54 trillion recorded in Q3 2024, but a 57.67% increase compared to N12.69 trillion in Q4 2023.…

OPEC+ Plan, Tariffs Threats Weigh on Oil Prices Oil prices continue to face multiple pressures coming from both demand and supply sides with the U.S President Donald Trump influencing energy costs directions. Brent price hovered around $70 per barrel on Monday while US West Texas Intermediate settle at $67 per barrel at the same time amidst negative outlook on supply and demand. After posting weekly loss, the crude oil market pressures extended with concerns over U.S. import tariffs and their impact on global economic growth and fuel demand weighed on market sentiment. Tariffs imposed and delayed by President Trump on…

FCMB Group Plc. lost 14.2% of its market value at the Nigerian Exchange, NGX, as investors’ exited positions in the banking stock amidst latest earnings forecast.

Tunisian Bank Profitability Faces Pressure from New Lending Rules –Fitch Tunisian bank profitability faces pressure from new lending regulations, which allow borrowers interest rate reductions on certain fixed-rate loans and require banks to issue prescribed amounts of interest-free loans, Fitch Ratings says. According to Fitch, the 40% corporate tax rate on bank profits earned from 1 January 2024, up from 35% and caps on certain fees and commissions will also weigh on profitability, but we do not expect bank ratings to be affected. One new regulation, introduced last year, allows borrowers whose fixed-rate interest payments from January 2022 to September…

Wema Bank Value Declines Amidst Sell Recommendations Wema Bank Plc market value spiralled downward in the Nigerian stock market due to investors’ negative sentiment. Equities analysts at Atlass Portfolio Limited downgraded Wema Bank to sell, citing negative upside potential. The investment firm set N11.50 as the target price, though Wema Bank Plc has reached N11.90, according to its stock recommendation list. With a sell recommendation, Apel Asset Limited shared the same sentiment on Wema Bank stock. The firm guided investors to sell the bank shares, which analysts believe has peaked. Apel Asset set Wema Bank fair value at N11.83. To…

Interbank Rates Climb on Financial System Liquidity Swings Money market rates increased moderately, reflecting a tight liquidity condition in the banking system. Funding pressure has left interbank rates elevated, but improved liquidity conditions reduced negative rate movement slightly. According to financial market analysts, banking liquidity will feel the impact of N650 billion Treasury bills auction conducted on Wednesday, with projections showing money market rates would climb. Today, liquidity in the financial system improved, but rates moved the other way, reflecting expectation of a new outflow relating to the Treasury bills auction. The short-term benchmark interest rates in the money market…

Naira: Black Market Spot Rate below N1500 per US Dollar The naira has stabilised around N1500 per US dollar in the black market, a channel check conducted by MarketForces Africa confirmed. According to analysts, exchange rate stability in the forex market has been supported by the Central Bank of Nigeria (CBN) intervention. However, the authority has halted US dollar sales to authorised dealer local banks, a move that started last week and has persisted this week.    The forex market has sufficient liquidity for now and may be able to stand alone for a while without the CBN, analysts said. Reduced…

Seplat Energy Plc grew profit after tax by 16.9% year on year to about $144.8 million in 2024, details from its audited financial statement revealed. The independent energy company says it generated revenue of $1.116 billion (N1.652 trillion) for the 2024 financial year.  The figure represented a 5.2 percent increase when compared to $1.061 billion (N696.9 trillion) recorded in 2023.

Oil Drops to $70 on Higher U.S. Inventories, OPEC+ Supply Oil prices come under pressures on Tuesday on expected increase in U.S. inventories, and the Organisation of Petroleum Exporting Counties (OPEC) and allies’ member countries (OPEC+) plan to increase output gradually. Brent crude decreased by 0.6%, trading at $70.80 per barrel, down from $71.28 at the close of the previous session. The US benchmark West Texas Intermediate (WTI) declined by 0.7%, settling at $67.63 per barrel, compared to its prior session close of $68.10. Oil prices continued to fall as global supply concerns eased after the OPEC+ group, which consists…