Author: Olu Anisere

Economic Hardship in Nigeria Painful but Necessary – Alake The Minister of Solid Minerals Development, Dele Alake, says the current economic difficulties in Nigeria are painful but are part of the necessary transition toward building a resilient and sustainable economy. Alake stated this at the maiden edition of the Solid Minerals Excellence Awards (SOMEA) in Abuja. He said Nigeria was undergoing a decisive economic transformation aimed at achieving long-term prosperity, industrial growth and national development through bold reforms and strategic leadership. He said the administration of President Bola Tinubu remained committed to implementing difficult but necessary reforms to address corruption,…

NGX Dips, Investors Lose N1.23trn on MTN, Aradel Selloffs The Nigerian Exchange (NGX) All-share index (ASI) dipped on Friday amid selloffs in MTN Nigeria, Aradel Holdings, and Consumer goods stocks like Unilever and PZ Cussons. The market closed the week in negative territory, with key market performance indicators declining by -0.76% on the day, driven by weak bargain hunting. The market index or All-Share Index fell by -1,912.19 basis points in today’s trading session, indicating a -0.76% decline to close at 250,330.92, while market capitalisation fell by ₦1,225.57 billion to close at ₦160.44 trillion. The total volume of all trades…

Oil Tops $107 as U.S. Plans to Force Hormuz Reopening Oil prices climbed on Friday as reports of possible renewed US military action against Iran and rising tensions around the Strait of Hormuz heightened concerns over global supply security. International benchmark Brent crude traded at $107.41 per barrel, up around 1.6% from the previous close of $105.72. US benchmark West Texas Intermediate (WTI) increased about 2% to $103.19 per barrel, compared with $101.17 in the previous session. Prices gained after reports suggested US President Donald Trump may reconsider military options against Iran following his visit to China. Israeli and US…

Investors poured funds into Nigerian Treasury bills, though a relatively moderate trading activity was recorded in the fixed-income market ahead of the inflation figures release on Friday.

Zambia Progresses, Rebuilds Foreign Reserves, Tames Inflation -IMF Zambia has made substantial progress in consolidating hard-won macroeconomic stabilisation under the recently completed supported program by the International Monetary Fund (IMF, according to an official statement released by staff team led by Edward Gemayel. IMF said the country’s inflation returned to the Bank of Zambia’s target band in April 2026, international reserves were rebuilt to 4.4 months of prospective imports, and the primary fiscal balance recorded a surplus of 3.1 percent of GDP in 2025. However, the IMF noted that the country’s fiscal pressures intensified in 2026, reflecting the impact of…

Fitch Ratings has affirmed Stanbic IBTC Holdings PLC’s and Stanbic IBTC Bank Ltd.’s – its banking subsidiary – National Long-Term Ratings at ‘AAA(nga)’ with stable outlooks.

Oil prices rose on Thursday as uncertainty surrounding the fragile ceasefire in the Middle East and concerns over potential supply disruptions continued to underpin the market.

Deposit money banks (DMBs) placement at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) window dropped by 14% after open market operations.

The Independent National Electoral Commission (INEC) says it will deploy over 1.4 million National Youth Service Corps (NYSC) members for the 2027 general elections nationwide.

Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.