Author: Olu Anisere

Nigeria, Angola Sign Pact on Combating Illicit Drugs Nigeria and the Republic of Angola have signed two agreements aimed at combating illicit production, manufacture, and trafficking in narcotic drugs, psychological substances, and their precursors, as well as cultural cooperation and exchange. The Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, disclosed this in a statement issued on Sunday by Dr Magnus Eze, Special Assistant on Communication and New Media, Office of the Minister of State for Foreign Affairs. The statement is against backdrop of the signing of the agreement by Amb. Odumegwu-Ojukwu and her Angolan counterpart, Amb. Domingos Lopes,…

Headline Inflation Rate for August Projected to Decline Nigeria’s headline inflation rate has been projected to decline ahead of data release scheduled for Monday.The inflation rate has been on the decline following the rebasing of the consumer price index (CPI) as Nigeria continues its reform agenda. For September, Coronation Merchant Bank research units revealed expectation that headline inflation will edge lower, supported by sustained foreign exchange stability and easing food prices from the ongoing harvest season. Analysts said if these tailwinds persist, inflation is likely to remain broadly in line with August levels, adding that notable risks remain. “Fuel prices…

Nigerian Exchange Grows by N985bn to N88.92trn – Market Wrap The Nigerian Exchange (NGX) grew by N985 billion week on week to N88.92 trillion with four days of positive price movement before the last moment swerve on Friday. The stock market ended the week on a bullish note, snapping out of its recent cautious trend as renewed investor appetite lifted major indices higher. The market surge was driven largely by broad-based demand across key sectors and selective interest in heavyweight counters. Stockbrokers related that the upsurge underscored the resilience of local equities even as caution continued to linger among market…

NLNG Calls for Global Action on Methane Gas Mitigation Nigeria Liquefied Natural Gas Limited (NLNG) has urged global cooperation to tackle methane emissions and accelerate climate action. Dr. Philip Mshelbila, Managing Director of NLNG, made the call during a panel session at the Gastech Exhibition and Conference in Milan, Italy. The session was themed, “Advancing Progress on Methane Abatement Through Strategic Cooperation and the Mobilisation of Finance and Technologies.” Mshelbila stressed that methane reduction must be prioritised due to its high climate potency and short atmospheric lifespan compared to carbon dioxide (CO₂). He explained that about 40 per cent of…

Oil Prices Dip on U.S Inflation Concern, OPEC+ Output Surges Oil prices dipped on Friday over concern that rising US inflation and President Donald Trump’s push for new tariffs could sap demand, adding to pressure from the International Energy Agency’s (IEA) forecast for stronger global supply growth. Brent crude was trading at $65.72 per barrel, down 0.5% from the previous close of $66.08. US benchmark West Texas Intermediate (WTI) decreased by 0.6% to $61.68 from $62.05 in the prior session. Investors grew cautious as tariff-driven inflation risks clouded expectations that the Federal Reserve (Fed) still has room to cut interest…

Naira: CBN Injects over $200m into FX Market – Analysts Note The Nigerian naira has been trading relatively strong versus the dollar amidst broader pressures on the greenback, with the current value of the U.S. Dollar Index settling at 97.640. In a commentary note, analysts at CSL Stockbrokers acknowledged that the local currency strengthened to 7 months high on the Central Bank of Nigeria (CBN) support in addition to offshore inflows. “The Naira has sustained a strong run in recent weeks, appreciating steadily from ₦1,532/US$ at the end of August to around ₦1,500/US$, its strongest level in more than seven…

Major Shocks Cloud Madagascar’s Macroeconomic Outlook –IMF Major shocks cloud Madagascar macroeconomic outlook, International Monetary Fund (IMF) said after a review of the country’s economic data. IMF said Madagascar’s spending commitments outpaced tax collection in the first half of the year; adding that the authorities are activating contingency plans to stay in line with the budget in the months ahead. An IMF team, led by Mr. Constant Lonkeng, visited Antananarivo to assess recent economic developments and the outlook, take stock of the 2025 budget execution, discuss the contours of—and policy intentions under—the 2026 budget and gauge progress in the authorities…

South African Rand Drops Vs. USD Amidst GDP Growth Upgrade The South African rand (ZARUSD) dropped versus the US dollar at the forex market in early Thursday trade ahead of the release of domestic economic indicators and US consumer inflation data due later in the day. ZAR was trading at 17.52 against the U.S. dollar, according to updated forex market data, declining by 0.3% from Wednesday’s close. The South African Reserve Bank publisheded second-quarter current account data which show the deficit widened to 1.1% of gross domestic product (GDP) in the second quarter of 2025, from a revised 0.6% deficit…

Oil Prices Decline as U.S Inventories, Production Increase The prices of crude oil pulled back marginally in the global commodity market on Thursday as markets anticipate softening demand in the United States following a sharp increase in inventories and production, according to the latest data. The oil market is also facing concerns over possible excess supply. However, losses were limited by ongoing geopolitical tensions in the Middle East and Russia’s war in Ukraine, which continued to add uncertainty to the market. Brent crude futures slipped 0.1% to trade at $67.41 per barrel at the time of writing, while West Texas…

Nigeria LNG Deploys AI to Boost Domestic Gas Supply, Export Nigeria Liquefied Natural Gas Limited (NLNG) has highlighted the transformative role of Artificial Intelligence (AI) in enhancing operational efficiency, safety, and productivity across its vast gas infrastructure. Mr Olakunle Osobu, Deputy Managing Director, NLNG, disclosed this while addressing a global audience of more than 50,000 participants from 150 countries in a panel session at the ongoing Gastech Exhibition and Conference in Milan, Italy. The session was themed, “Operational Excellence Through the Application of Artificial Intelligence Technologies.” Osobu explained that NLNG’s adoption of AI was not just strategic but essential, driven…