Author: Marketforces Africa

U.S. to Pull Out of Paris Agreement January 2026 The United States, U.S., has officially notified the Secretary-General of its withdrawal from the Paris Climate Agreement, effective January 27, 2026, UN spokesperson Stéphane Dujarric has said. Dujarric said this at a news briefing on Tuesday in New York. The historic accord reached by 193 countries in December 2015 in a bid to keep temperature rises to below 1.5°C above pre-industrial levels was signed by the U.S. on April 22, 2016. During the first Trump administration, the U.S. withdrew from the agreement effective November 4, 2020, before his successor took the…

Dangote Refinery to Buy 12m Barrels of Crude Oil from U.S. The Dangote Petroleum Refinery is awaiting up to 12 million barrels of crude oil from the United States (U.S.). The refinery resorted to crude importation as local supply challenges hindered the new $20 billion refinery’s push to reach full refining capacity. Recall that the refinery plans to reach its 650,000 barrels per day capacity in June this year. However, low local crude supply from the Nigerian National Petroleum Company Limited is currently a challenge to this plan to ramp up daily production. The 12 million barrels of crude has…

Yield Rises as Investors Trim Nigerian Treasury Bills Holding The average yield on Nigerian Treasury bills climbed near 25% in the secondary market due to sell pressures on naira assets amidst economic uncertainties. The fixed income market exhibited a generally muted trend, with mixed sentiments prevailing despite ample liquidity within the financial system, traders said in a note. With real return widening to 7.3%, inflation (34.80%), and the interest rate benchmark (27.50) are expected to rise further in the short term but at a slow pace amidst a plan to rebase Nigeria’s consumer price index in 2025. Analysts said investors…

Dangote Cement Trades at 50% Discount over Sell Pressures Investors’ weak sentiment on Sub-Saharan Africa’s largest cement company, Dangote Plc, has continued to drag its market value despite positive expectations about the group earnings outlook. Dangote Cement Plc lost about N256 billion in the equities market due to sustained sell-offs that started last few days amidst earnings expectations. Its market price declined to N385 billion on Tuesday as about 1.27 million of the cement company’s shares were transacted in the local bourse, from N400. In absolute terms, Dangote Cement Plc lost N15 on each of its 17.040 billion shares outstanding…

Money Market Rates Ease as System Liquidity Climbs to N810bn Money market or funding rates fell further as liquidity levels in the banking system increased as a result of cash reserve refunds and inflows from matured OMO bills worth N317.66 billion. These inflows increased the amount in the financial system to about N810 billion on Tuesday from N402 billion, ready to be tapped by local deposit money banks that require funding. This happened as demand for liquidity from banks and other financial institutions in relation to the total amount in the banking system on Tuesday. This resulted in both open…

FG to Reduce Costs of Doing Business in Nigerian Ports by 25% The Federal Government (FG) has announced plans to implement the National Single Window (NSW) to reduce the cost of doing business in Nigerian ports by at least 25 per cent. The Minister of Marine and Blue Economy, Mr Adeboyega Oyetola, disclosed this at a stakeholders’ forum on the establishment of the NSW in Lagos on Tuesday. He said that the implementation of NSW could enhance efficiency, therefore reducing these costs by at least 25 per cent. The World Bank had said that the cost of doing business at…

With a huge share volume traded on Tuesday, FBN Holdings Plc.’s market value plunged by about 5.5% on the Nigerian Exchange (NGX) as investors’ sentiments waned ahead of the earnings release. 

Equities Investors Lose N294bn as FBNH, Dangote Plunge Equities investors lost more than N294 billion due to price depreciation posted by Dangote Cement, FBN Holdings, MRS, and other decliners on the Nigerian Exchange. On Tuesday, the local bourse ended the trading session in the red with key market performance indicators dropping by 0.44%. The profit-taking activities reversed the previous day’s rally. The downward equities market performance was driven weak investors’ sentiment in some medium- and large-cap stocks like MRS, FBNH, DANGCEM, and others. Stockbrokers said the market index, or the All-Share Index, decreased by 460.20 basis points, representing a decline…

CBN Unveils New FX Code to Reform Market Practices The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, on Tuesday unveiled a new Foreign Exchange (FX) Code to the market. At the event in Abuja, Cardoso stated that it would establish clear and enforceable standards for ethical conduct, transparency, and good governance in the foreign exchange market. He emphasised that the FX Code represents a decisive step forward, providing a firm signal that ‘business-as-usual will no longer suffice’. “It is also a blueprint for the future, grounded in the hard lessons of the past. We must not forget…

Oil Prices Increase Ahead of U.S Interest Rate Decision Oil prices increased in the global commodities market after the U.S. and Colombia governments’ tariff combat ahead of the Federal Reserve’s decision on fed fund rates this week. The commodity market has seen negative sentiment as Donald Trump administration tariff threats and national energy emergency policies stoke uncertainties on price movements. Prices surged on the back of the European Union’s decision to extend its sanctions on Russia. Brent crude increased by 0.5%, trading at $76.52 per barrel while the US benchmark West Texas Intermediate (WTI) rose by 0.5%, reaching $73.21 per…