Author: Marketforces Africa

NDCC Chamber of Commerce Targets $5bn Investment, Jobs in Niger Delta The Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA) says it plans to attract $5 billion in investment to generate more than 500,000 jobs in the Niger Delta region. The Board Chairman of NDCCITMA, Mr Idaere Ogan, made this known during a media briefing with journalists on Monday in Port Harcourt. Ogan said the briefing was intended to inform the public about the forthcoming Niger Delta Economic and Investment Summit (NDEI Summit), scheduled for May. He explained that the initiative would be implemented through a structured…

U.S. President Donald Trump has postponed any military strikes on Iranian power plants and energy infrastructure for five days following “productive conversations” with Iran.

XRP Price Climbs as Profit-Taking Slows Ripple (XRP) gained 2% over 24 hours, trading at $1.41 as profit-taking by retail investors eased on Monday, according to crypto market trading data. XRP is navigating a clash between improving regulatory fundamentals and deteriorating short-term market structure, with macro fears amplifying the sell-off. The altcoin gain closely tracked Bitcoin’s 2.74% rise over the same period, indicating the move was driven by broader market sentiment rather than a coin-specific catalyst. The total crypto market cap rose 2.31%, suggesting a risk-on bounce from recent fear levels. XRP’s price action remains heavily influenced by Bitcoin and…

UK government bonds are sliding sharply, with yields surging past levels last seen during the fallout from the downfall of former Prime Minister Liz Truss, raising fresh concerns that an energy-driven shock is rapidly evolving into a broader problem for the government and UK households and businesses.

Nigerian Listed Companies Value Jumps by N1.77trn to N127.36trn The combined value of Nigerian listed companies jumped by N1.77 trillion week on week to N127.36 trillion, according to trading data from the Nigerian Exchange (NGX). The stock market maintained its upward momentum for a third consecutive week, despite trading only three sessions due to public holidays for Eid al-Fitr on March 19 and 20, 2026. Gains were driven primarily by strong activity in the industrial goods and banking sectors, according to stockbrokers. The NGX All-Share Index rose 1.39% week-to-date to 201,156.86 points, while market capitalisation increased by the same margin…

Oil Climbs as U.S. Threatens to Attack Iran’s Power Plant Oil prices rose on Monday, fueled by U.S. President Donald Trump’s threat to attack Iran’s power plants if the country does not reopen the Strait of Hormuz within 48 hours. International benchmark Brent crude was trading at $108.71 per barrel, up 2.2% from its previous close of $106.41. U.S. benchmark West Texas Intermediate (WTI) rose by 2.3% to $100.48 per barrel, compared to $98.23 in the previous session. The ongoing U.S.-Israeli military campaign against Iran has entered its 24th day, with reports indicating that the conflict may last longer than…

Group Executive, e-Business and Retail Products at FirstBank, Mr Chuma Ezirim, says the bank remains committed to supporting small and medium-scale enterprises (SMEs) with practical guidance to help them grow sustainably.

Nigeria’s Balance of Payments Declined by 38% to $4.23bn Nigeria’s balance of payment position remained in surplus at USD4.23 billion in 2025; however, this represents a 38.07% year-on-year decline from USD6.83 billion recorded in 2024. According to a Central Bank report, a major driver of this decline was the 14.4 per cent drop in crude oil exports, which fell to $31.54 billion from $36.85 billion in 2024. This shortfall in oil revenue occurred despite a 21.4 per cent surge in gas exports, rising to $10.51 billion. Furthermore, the Goods Account, a subset of the current account, recorded a higher surplus…

Nigeria Loses Nearly 90% of Forest Cover in 3 Decades — NCF The Nigerian Conservation Foundation (NCF) has called for urgent action to halt deforestation, noting that Nigeria has lost nearly 90 per cent of its forest cover over the past three decades. The foundation made the call in a statement issued on Saturday in Lagos by the Director of Communications, Policy and Advocacy, Mr Kunle Olawoyin, to mark the International Day of Forests, observed every March 21. Olawoyin said the 2026 theme: “Forests and Economies,” underscored the crucial role forests play in supporting environmental sustainability, livelihoods, and national development.…

FG Appoints Quest Merchant Bank as Transaction Advisor for Project BRIDGE The Federal Government (FG) has appointed Quest Merchant Bank as Transaction Advisor for Project BRIDGE, its flagship broadband infrastructure initiative aimed at expanding Nigeria’s fibre-optic network. The Acting Managing Director of Quest Merchant Bank, Mr Afolabi Olorode, disclosed the appointment in a statement on Thursday. Project BRIDGE (Broadband Infrastructure Development for Digital Economy) is an initiative of the Federal Ministry of Communications, Innovation and Digital Economy, led by the Minister, Bosun Tijani. The project is designed to deploy about 90,000 kilometres of open access fibre-optic cable nationwide to boost…