Author: Marketforces Africa

NGX Inches Near N98trn as Equities Investors Gain N953bn The Nigerian Exchange (NGX) market capitalisation neared N98 trillion as Santa Claus rally boosted equities investors’ portfolio value by more than N953 billion in 3 days. The local bourse closed the pre-Christmas trading week on a confident footing, Cowry Asset Management Limited said, riding a wave of festive optimism and sustained risk-on sentiment. Equities investor appetite remained tilted toward mid- and large-cap names, stockbrokers said with consumer goods and banking stocks firmly in focus as portfolio managers continued to reshuffle positions ahead of year-end book closure. Despite the shortened trading week,…

Global Equities Swing Influenced by Rates Signal, AI Optimism Global equity markets were mixed during the holiday-shortened week, influenced by investors’ sentiment and central bankers’ policy signals ahead of 2026. In the U.S., the S&P 500 and Dow Jones hit record highs, Anchoria Securities Limited said in a note, supported by strong economic data and optimism around artificial intelligence (AI), while the small-cap Russell 2000 underperformed. U.S. economy grew at an annualized 4.3% in Q3, the fastest pace in two years, driven by consumer spending, higher exports, and a rebound in government expenditure. However, durable goods orders fell 2.2% in…

Northern Interest Group Wants Tax Reform Laws Reviewed A Northern interest group, Arewa 100 Percent Focus, has called for the review of material discrepancies between the versions of the tax reform bills passed by the National Assembly and the copies subsequently gazetted by the Executive. The group made the call in a statement issued by its National President, Dr Abubakar Fakai, in Abuja on Saturday. Fakai said, “Our attention has been drawn to alarming revelations by Rep. Abdussamad Dasuki, representing the Kebbe/Tambuwal Federal Constituency in Sokoto State under the Peoples Democratic Party (PDP). “On Dec. 17, 2025, Hon. Dasuki raised…

Tinubu Hails $1.1bn Financing for Lagos–Calabar Coastal Highway President Bola Tinubu has praised the Federal Ministry of Finance for successfully closing a $1.126 billion financing package for Phase 1, Section 2 of the Lagos–Calabar Coastal Highway. This is contained in a statement issued by Presidential spokesperson, Mr Bayo Onanuga, on Friday in Lagos. Tinubu also commended the Ministries of Finance and Works, alongside the Debt Management Office, for their collaboration in concluding the landmark transaction. “This is a major achievement, and closing this transaction means the Lagos–Calabar Coastal Highway will continue unimpeded. “Our administration will continue to explore available funding…

Nigerian Stock Market Transactions Reduces by 379% Investors in the Nigerian stock market traded a total turnover of 2.876 billion shares worth N63.832 billion in 80,229 transactions on the floor of the Exchange this week. The Nigerian Exchange Ltd.(NGX) weekly report made available in Lagos, said this was in contrast with 9.849 billion shares valued at N305.843 billion that exchanged hands last week in 126,584 deals. As a result, the value of transactions traded by investors on the Exchange declined by 379.1 per cent. Meanwhile, the market opened for three trading days this week as the Federal Government declared Thursday…

Digitalisation: Nigeria Unveils ECM to Transform Oil Sector The Federal Government of Nigeria (FGN) has inaugurated the Enterprise Content Management (ECM) System at the Ministry of Petroleum Resources. The ECM system “Go-Live” programme was unveiled on Wednesday in Abuja by Mrs Didi Walson-Jack, Head of the Civil Service of the Federation (HCSF), alongside Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil). Also in attendance were Mrs Patience Oyekunle, Permanent Secretary, Ministry of Petroleum Resources, top management officials of the ministry, HCSF, and the Galaxy Backbone Limited, the custodian of the 1Government Cloud platform. Speaking, Walson-Jack said the initiative placed…

Oil Prices Increase over Heightened US-Venezuela Tensions Prices of crude oil rose slightly in the global commodity market on Wednesday amid supply concerns stemming from heightened tensions between the US and Venezuela, as well as stronger-than-expected US economic growth data. Brent crude was trading at $61.97 per barrel, up 0.01% from the previous close of $61.96. US benchmark West Texas Intermediate (WTI) also increased by 0.01% to $58.40, compared to $58.39 in the prior session. Venezuelan President Nicolas Maduro said his country has received “overwhelming support” at the UN Security Council following US seizures of Venezuelan oil tankers. US President…

NGX All Share Index Jumps as CHAMS Lists Shares The Nigerian Exchange (NGX) All-Share Index (ALSI) closed on a positive note due to sustained buying interest, up by 0.59% to close at 153,354.13 points.  The stock market key performance indicators reached a new height, with market capitalisation getting close to its peak at N98 trillion. This happened due to new shares listing and the Santa Claus rally. The bullish outturn was buoyed by price upticks in some consumer goods counters, such as BUAFOODS (+1.88%) and INTBREW (+5.60%), alongside demands in FIRSTHOLDCO (+9.35%) and WAPCO (+1.50%). The equities market sentiment was…

Fitch Upgrades Ukraine to ‘CCC’ Fitch Ratings has upgraded Ukraine’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ from ‘Restricted Default’. The upgrade of the long-term foreign-currency IDR reflects Fitch’s assessment that Ukraine has normalised relations with a substantial majority of its external commercial creditors. On 18 December, it was announced that 99% of investors supported the exchange of Ukraine’s outstanding GDP warrants, thereby clearing the 75% threshold for a complete exchange. Combined with the successful completion of the sovereign and state-guaranteed debt bond restructuring in August 2024, Ukraine has now restructured 94% of its commercial external state and…

Euro Climbs to $1.764 after U.S. Fed, ECB Diverge on Rates The euro rallied against the US dollar, hovering around $1.1764 on Monday after the European Central Bank (ECB) and the US Federal Reserve diverged on their positions on interest rates. The single currency inched close to its strongest level since late September as policy outlooks between the ECB and the Federal Reserve continued to diverge. The ECB left interest rates unchanged for a fourth straight meeting and signalled that rates are likely to remain at current levels for some time, noting that the eurozone has weathered US tariffs better…