Author: Olu Anisere

Eterna Sets Q1 2026 Post-Tax Profit at N485 Million Eterna Plc has set its first quarter of 2026 net profit at N485 million amidst oil importation pressures facing downstream operators. The company anticipates its Q1 revenue to settle at N60.849 billion, according to earnings forecast disclosure in the stock market. Reflecting a tight margin operation, the company estimated that its costs of sales would settle at N57.138 billion in the period. This is projected to result in N3.711 billion in gross margin. In the first quarter of 2026, the company planned to spend N2.427 billion as marketing, distribution and administrative…

CBN Injects $150m to Boost Nigerian FX Market Liquidity The Central Bank of Nigeria (CBN) has injected a total of $150 million to boost liquidity in the forex market as the US dollar shortage lingers at the official window. The naira has been declining for eight consecutive trading sessions, though the marginal daily depreciation has started to become significant to the exchange rate value. At the beginning of the week, the Apex Bank sold $100 million to authorised dealer banks at below the official rate to redirect the exchange rate. This failed as the naira maintained its downward streak, albeit…

Guinea Insurance Pledges to Strengthen Capital Base Guinea Insurance Plc has restated its commitment to strengthening its capital base in line with the Nigerian Insurance Industry Reform Act 2025. The firm said in a statement on Thursday that the step was vital to its long-term growth and future competitiveness. The pledge was made during a courtesy visit to the National Insurance Commission, where the team was received by Mr Olusegun Omosehin in Abuja. The delegation was led by the Board Chairman, Mr Temitope Borishade, with several Non-Executive Directors accompanying him on the visit. Senior management officers, including Chief Executive Officer…

MTN Nigeria Rallies as Investors Bet on Earnings Outlook Racing towards its upgraded target price, MTN Nigeria Plc gained about 5% in the stock market as investors began to raise stakes in anticipation of strong earnings expectations for the fourth quarter. In the stock market, MTN Nigeria share price rose by 4.91% on the day as 2.196 million units of the telecom company shares valued at N1.098 billion were traded on Thursday. This pushed up the market value of the telecommunication company’s 20.995 billion outstanding shares to N10.407 trillion as the market anticipates earnings to act as a fresh catalyst…

U.S. 10-Year Yield Falls Ahead of Treasury Bills Buying The US 10-year Treasury yield fell to around 4.12% following the Federal Reserve’s 25 basis point interest rate cut on Wednesday, the third and last dovish policy for 2025. Yields declined as market react to the monetary authority policy tightening out next year, in contrast to initial expectations before Fed decision. Federal Reserve Chair Jerome Powell’s acknowledgement of a softer labor market quickly put a bid into bonds, reversing the initial selloff of U.S. Treasury and steepening the yield curve. Fed signalled a less hawkish stance than markets anticipated, with Powell…

U.S. Federal Reserve Cuts Rates by 25 bps Again The Federal Reserve ended 2025 with a policy shift that will ripple through every corner of the economy. On December 10, the Federal Open Market Committee (FOMC) cut the federal funds rate by 25 basis points, setting a new target range of 3.50% to 3.75%. The Fed said in a post-action statement that available indicators suggest that economic activity has been expanding at a moderate pace.  The Federal Open Market Committee (FOMC) said job gains have slowed this year, and the unemployment rate has edged up through September. The committee noted…

Foreign Investors Rush African Eurobonds as U.S. Cuts Rate The African Eurobond market closed positively to halt the past two sessions’ profit-taking as the U.S. Federal Reserve cut interest rates by 25 basis points (bps) for the third consecutive time to 3.50%-3.75%. In a fresh search for elevated yields on US dollar-priced bonds, foreign portfolio investors flocked to the African Eurobonds space with interest in oil-linked sovereign issuers like Nigeria, Angola and Ghana, Egypt were among top pick. The action was informed by widening yields gap with US Treasury note following Federal Reserve dovish monetary policy -which may extend in…

“Wahala”: Nigeria Falls to 18th Position in Where to Invest in Africa Nigeria has dropped to 8th position in Rand Merchant Bank’s (RMB) where to invest in Africa index (WTIIA) report for 2025/2026 which offered fresh insights into the continent’s top investment prospects.  RMB said, “The country’s precipitous fall from 9th to 18th in the WTIIA rankings suggests that the term ‘wahala’ has been used liberally over the last year.” WTIIA provides a clear view of the factors shaping each country’s investment landscape, helping investors and policymakers identify where the greatest opportunities for growth and impact lie. “Over the past…

U.S. Energy Agency Raises Crude Oil Price Forecast The U.S. Energy Information Administration (EIA) has revised up its average oil price projections for this year and 2026, taking into account recent developments in global oil markets. In its Short-Term Energy Outlook (STEO) released late Tuesday, the EIA raised its 2025 and 2026 average Brent crude price forecast to $68.91 per barrel, up from $68.76, while West Texas Intermediate (WTI) was revised to $65.32 per barrel from $65.15 For 2026, EIA projects Brent crude to average $55.08 per barrel and WTI to average $51.42 per barrel. In its previous outlook, the…

Fidelity Bank Target Price Raised by 32% with Buy Rating Fidelity Bank Plc’s 12-month target price has been increased by more than 32% by investment firm CardinalStone Securities Limited, according to its equity research report. The bank trades at N19 per share on the Nigerian Exchange (NGX) with a total market capitalisation of N954 billion. The target price was revised to N24.99 from N18.91, implying an exit price to book multiple of 0.9x, according to CardinalStone Securities Limited, a discount to Europe, Middle East and Africa (EMEA) peer average of 1.2x. The price surge was anchored on the expectation that…