Author: Marketforces Africa

The National Office for Technology Acquisition and Promotion (NOTAP) says Nigerian software developers have reached significant milestones with locally made applications generating over one million dollars in sales across domestic and regional markets.

ECOWAS Bloc Grows By 4.6% Amid Global Economic Headwinds — President ECOWAS President, Dr Omar Touray, says the bloc recorded 4.6 per cent economic growth in 2025, in spite of global economic challenges, and envisages 5 per cent growth in 2026. Touray disclosed this on Thursday in Abuja during a meeting with development partners, while highlighting the commission’s 2025 Annual Report. He said that ECOWAS outperformed the continental average in 2025 through structural reforms, rising investment in mining and energy, improved regional trade facilitation, and a strong rebound in services, transport and tourism. “This robust performance is driven by structural…

Zenith Bank Plc has inched closer to N3 trillion in market capitalisation ahead of the release of fourth-quarter 2025 earnings. The bank share price has crossed N71 again, reflecting sustained investor demand.

Oil Prices Edge Higher over Supply Risk, Weak U.S Dollar Oil prices edged higher in the global commodity market as extreme cold weather disrupted crude production and exports from the US Gulf Coast, while a weaker US dollar provided additional support. International benchmark Brent crude traded at $66.95 per barrel, up about 0.8% from the previous close of $66.42. US benchmark West Texas Intermediate (WTI) rose around 0.85% to $62.82 per barrel, compared with $62.29 in the prior session. A severe snowstorm and freezing temperatures across large parts of the US have pushed the death toll to 30, with authorities…

Nigerian Bourse Plunges as Sell-Side Actors Take Profits The Nigerian bourse closed the session on a negative note as the All-Share Index (ASI) shed 33bps, dropping the year-to-date return to 6.14%, with DEAPCAP leading the gainers at 10.0% while RTBRISCOE topped the losers’ chart with a 10.0% decline. The market was dominated by sell-side actors taking profits, while a growing number of companies have begun to release their financial results for 2025.  Trading activity showed NEIMETH as the most active by volume with 58.13 million shares exchanged, while ZENITHBANK led by value with trades worth ₦2.3 billion, as 31 stocks…

Naira Gains Market-Wide Amidst Global Dollar Selloffs The naira continued to gain ground across both exchange channels on Wednesday, edging up 0.05% to ₦1,400.48/$ at the office window after a sharp rally. The spot rate also climbed by 0.45% to ₦1,469/$ in the parallel market, indicating enhanced currency confidence across both the regulated official segment and the informal foreign exchange market. The official rate briefly touched N1392 per dollar on Wednesday as the US dollar came under intense sell pressure across global markets due to President Donald Trump’s trade policies. A growing number of countries have been liquidating their U.S…

FirstHoldco, MTN Nigeria losses dragged the Nigerian Exchange (NGX) downward on Wednesday, with the All-Share Index

Dollar Supremacy Cracking As Investors Seek Escape The dollar’s supremacy is cracking, and markets are building an escape route, warns the CEO of one of the world’s largest independent financial advisory organisations. The warning from Nigel Green of deVere Group comes as a sell-off in the US dollar has gained momentum after President Donald Trump says he isn’t concerned by the currency’s dramatic falls in recent days, as fears in currency markets intensify over the president’s erratic policymaking. The dollar was down 1.3% against a basket of other major currencies, leaving it trading at the lowest level in four years.…

The Federal Government of Nigeria (FGN) bonds market traded bullish on Tuesday after the Debt Management Office (DMO) monthly auction on Monday.

The Central Bank of Nigeria (CBN) rejected subscriptions totalling N4.9 trillion staked on OMO bills by the eligible market participants at the auction conducted on Tuesday.