Author: Marketforces Africa

Nigerian Treasury Bills Yield Shrinks to 20.6% Ahead of Auction Ahead of the midweek auction, investors are currently earning an average of 20.5% as yield on Nigerian Treasury bills, trading data from the secondary market revealed. Last week, the Nigerian Treasury Bills secondary market maintained a bullish tone throughout, Afrinvest Limited said in an investor note, buoyed by strong demand across the curve and firm system liquidity. Fixed income market analysts said activity was most pronounced on the newly issued 1-year paper (04-Jun-26), which opened the week with aggressive bids before slight resistance led to moderated offers midweek. The investment…

Budget Deficit: Nigeria to Borrow N7trn in Second Half of 2025—Report To meet the nation’s spending plan, the Nigerian government is expected to step up borrowing in the second half of the year, raising N7 trillion to finance the 2025 budget deficit, investment manager Zedcrest Wealth Limited said in a mid-year outlook. Total public debt has expanded to about half of the nation’s gross domestic product size, raising concerns over sustainability. Nigerian government borrowing in the debt market is expected to remain elevated, particularly as budgeted revenues are likely to fall short due to weaker oil receipts stemming from both…

Concerns Mount as Nigeria Runs to Saudi Aramco for $5bn Loan Nigeria is seeking to raise a $5 billion oil-backed loan from Saudi Aramco as part of an effort to boost capital spending and drive economic growth in the absence of organic growth. The move to increase external borrowing, which amounts to N8 trillion in local currency at the prevailing exchange rate, has raised concerns about public debt sustainability. Zedcrest Research predicted in its macroeconomic report for the second half of 2025 that the government will accelerate borrowings to shore up the budget deficit. Local borrowing has slowed, with analysts…

UN Cuts Humanitarian Aid as Funding Crisis Deepens The UN Office for the Coordination of Humanitarian Affairs (OCHA) said it has been forced to cancel planned aid for millions of people due to severe funding shortfalls, calling the move “brutal.” Never before has funding for humanitarian relief declined so sharply, the agency said on Monday. “We have been forced into a triage of human survival,” said Under-Secretary General for Humanitarian Affairs and Emergency Relief Coordinator Tom Fletcher in a statement. “The math is cruel, and the consequences are heartbreaking. Too many people will not get the support they need, but…

Naira Sees Weekly Gain Amidst Zero FX Intervention The naira closed at N1549.35 per US dollar at the official window, according to data obtained from the Central Bank of Nigeria (CBN), from N1553 at the beginning of the trading session last week. The currency market experienced a surge in foreign currency demand that eclipsed US dollar volume available for intraday FX settlement. The naira strengthened week on week, gaining N4 on each dollar in the official window despite the absence of the CBN in the forex market. On Friday, the naira touched N1537 per US dollar in the forex market…

UBA: Analysts Upgrade Earnings, Price Expectations Ahead of Q2 Fuel by optimism, a growing number of Broadstreet equities analysts have upgraded earnings, price expectations for UBA Plc ahead of second quarter results. The upswing in its forecasted earnings boosted investors’ appetite in the equities market, driving UBA Plc market value to about N1.5 trillion on Friday. A slew of analysts formed consensus that the group earnings would continue to growth, supported by its Pan African market footprints and sustained capital investment in banking assets. Hoping for a final dividend of N5.10 in 2025, Cordros Securities Limited set higher price target…

Equities Investors’ Portfolio Value Rises by N512bn as Heavyweights Rally As bargain hunting heated up, equities investors’ portfolio value rose by more than N512 billion in Nigerian market, driven by price appreciation in heavyweights stocks and mid-cap companies with upsides. Despite a shortened trading week, the Nigerian stock market closed the week on positive note with a surge in key performance indicators. Data from the Nigerian Exchange (NGX) showed that All-Share Index gained 0.71% week-on-week to close at a record high of 115,429.54 points, stockbroking firms reported, citing data from the local bourse. The local bourse climbed, supported by bullish…

MTN Nigeria Soars to New High on Earnings Recovery MTN Nigeria Plc has seen a strong market repricing of the company’s valuation in the equities segment of the Nigerian Exchange (NGX). The telecom company’s market value has increased by 16.02% in June, traded at N325 on Friday from N280.10 at the end of trading session last month. Its previous selloffs experience has been altered by a strong earnings performance in the first quarter of 2025, thanks to regulator’s tariff hike adjustment. A slew of equities analysts across the Broadstreet have formed a consensus that the telecom company earnings would reverberate…

Excess Liquidity Tames Rates Spike Episodes Ahead of OMO Inflow Excess liquidity in the financial system has continued to tame rate spike episodes in the money market, and some analysts sense the trend could persist ahead of huge net inflows in the new week. The interbank rates diverged on the back of an ample liquidity level in the banking system last week, according to reports obtained on the Nigerian money market. Banks’ borrowing activities at the Central Bank Standing Lending Facility (SLF) reduced in the absence of funding pressures, a slew of analysts said. There was a minimal funding rotation…

CIIN Launches Insurance Week to Boost Awareness The Chartered Insurance Institute of Nigeria (CIIN) says the maiden Insurance Week, slated for June 27 to July 4, aims to boost insurance uptake and economic development. President and Chairman of the CIIN Governing Council, Mrs Yetunde Ilori, said in a statement on Saturday that the initiative was a key project of the institute. She explained the event was carefully designed to raise insurance awareness, deepen stakeholder engagement, and enhance collaboration across the insurance industry. Ilori stated, “The event will simultaneously be hold in Ibadan, Port Harcourt, and Kano, expanding its reach and…