Author: Olu Anisere

UBA Grows Profit by 2.3% to N538bn, Bucks Negative Earnings Trend The United Bank for Africa (UBA) Plc, a Pan-African bank, defied the downward earnings trend observed among tier-1 banks during the first nine months of the 2025 financial year, achieving a net income growth of 2.3% compared to the previous year. UBA released the group’s unaudited results for 9M-2025 on the Nigerian Exchange, with profit after tax increasing modestly by 2.3% year on year to N537.53 billion from N525.31 billion in the equivalent period in 2024. Gross earnings expanded by 3% year on year to N2.468 trillion, according to…

First Holdco’s Net Profit Slumps by 13% to N458 Billion First Holdco Plc’s profit after tax slumped by 13% year on year to N458 billion; details obtained from its 9M-2025 earning results revealed. The sharp year on year reduction in the group bottom line affected its investors metric significantly, reflecting new shares issues. Analysts noted that weak non-core income and elevated operating expenses remain headwinds to profitability. In the period, First Holdco earnings per share fell by 27.3% year on year to N10.65 from N14.64 posted in the equivalent period. The group performance was affected negatively because of 49.1% year…

Oil Prices Fall as Markets Weigh China’s Weak Economic Data Oil prices declined on Friday, pressured by a stronger dollar, weak economic data from China, and expectations of rising global supply. The markets anticipate Chinese imports to reduce as factories decline amidst the OPEC group plan to increase output. Brent crude was trading at $63.96 per barrel, down 0.07% from the previous close of $64.01. US benchmark West Texas Intermediate (WTI) also decreased by 0.11% to $60.06, compared to $60.13 in the prior session. The US Federal Reserve (Fed) on Wednesday cut its policy rate by 25 basis points, as…

FG to Position Nigerian Ports Among Top 3 in Africa The Federal Government (FG) has intensified efforts to actualise the implementation of the National Single Window at the nation’s ports by 2026. Vice-President Kashim Shettima said this on Thursday during the second meeting of the Ports and Customs Efficiency Committee at the Presidential Villa, Abuja. Shettima explained that the policy aimed at creating a single platform to harmonise documentation, minimise human contact, and bring full transparency to the cargo clearance process, adding that it would be a game changer at the ports He noted that the target was to reduce…

Interbank Rates Steady as Banks Scale Back SDF Placements Interbank rates steadied due to a decline in the financial system liquidity, resulting from deposit money banks’ (DMBs) reduced placements at the Central Bank Standing Deposit Facility (SDF). Excess liquidity in the money market had surpassed N4 trillion level in the absence of open market operations. The Nigerian bonds auction settlement failed to drain excess funds. Reflecting the absence of funding pressure, interbank rates remained stable across all tenors on Thursday, with the overnight rate holding at 24.88%, indicative of equilibrium in system liquidity conditions and subdued funding pressures. Investment firms…

Unilever Nigeria Grows Profit by 100% to N21.98bn in 9M-2025 Staying on track to achieve its earnings guidance, Unilever Nigeria Plc grew profit by about 100% year on year to N21.981 billion at the end of the third quarter of 2025 from N11.009 billion in the equivalent period in 2024. Analysts said price increases implemented across product lines by companies in the Fast-Moving Consumer Goods (FMCG) sector from the previous year into 2025 have helped partially cushion the impact of broader macroeconomic headwinds that have challenged performance across the industry. Even with that, FMCG continues to face significant pressures, including…

Oil Prices Decline as Markets Anticipate Supply Boost Oil prices declined in the global commodity market on Thursday after data showed that US crude production increased amidst the Federal Reserve rate pause signal. The US Energy Information Agency data points to rising output in the US amidst the OPEC+ group plan to further boost production also weighed on market sentiment. Brent crude was trading at $63.81 per barrel, down 0.57% from the previous close of $64.18. US benchmark West Texas Intermediate (WTI) also decreased by 0.43% to $59.93, compared to $60.19 in the prior session. In line with market forecasts,…

Rates Ease, Nigerian Banks’ Placement with CBN Hits N4.1trn As part of their efforts to drive earnings growth, Nigerian deposit money banks (DMBs) have continued to increase their bets at the Central Bank of Nigeria (CBN) Standing Deposit Facility (CBN). The money market has been sufficiently liquid in October, keeping the short-term benchmark interest rates movement in check after September monetary policy adjustments. Commercial banks have been leveraging on 24.50% standing deposit facility rate, boosting funds placed with the CBN to replace lower yields on treasury bills. In the absence of funding pressures, interbank bank rates have restricted to a…

Tinubu Obtains Approval to Raise $2.35bn External Loan The National Assembly on Wednesday approved President Bola Tinubu’s request to secure a total of $2.347 billion from the international capital market to part-finance the 2025 budget deficit and refinance maturing Eurobonds. Also granted was Tinubu’s request to issue a $500 million debut sovereign sukuk in the international capital market (ICM) to fund infrastructure projects and diversify Nigeria’s financing sources. The approval was given request after considering the report of both committees on aids, loans and debt management. In the lower chamber, the House of Representatives adopted a report presented by the…

Coronation Insurance Profit Plunges by 59% to N3.7 bn in Q3 Coronation Insurance Plc delivered a net income of N3.710 billion at the end of September of 2025, a sharp decline of about 60% from N9.192 billion posted in the equivalent period in 2024. In its third quarter of 2025 earnings release, the insurance company reported that its insurance revenue surged by 49.82% year on year amidst growing rivalry in the industry. Reflecting a tight operating environment, its insurance expenses accelerated much faster that top line growth, placing a significant pressure on margin. Insurance expenses surged by 53.1% year on…