Author: Marketforces Africa

Financial Stocks Drive Volume as Investors Gain N332bn Equity investors gained about N332 billion as financial stocks continue to drive transaction volume ahead of the fourth quarter earnings season. The Nigerian Exchange (NGX) All-share index closed stronger again and key performance indicators advanced as traders boost their positions. Due to bargain hunting, the market index and total value of listed stocks increased by 35 basis points during the trading session on Thursday. Stockbrokers said the sustained rally reflects continued bargain hunting by market actors, supported by sustained buying interest in selective stocks. There was strong demand for NESTLE, ELLAHLAKES, UACN,…

NIPC Facilitates $10bn Investments in 2025 — Rimi The Nigerian Investment Promotion Commission (NIPC) said it facilitated over $10 billion in investment commitments in 2025. Ms Aisha Rimi, NIPC’s Executive Secretary, during a Media Parley on Thursday in Abuja, said it also supported the creation of more than 5,000 direct jobs across key sectors of the economy in the period. Rimi said capital importation rose significantly during the year, with $5.2 billion recorded in the first quarter of 2025, up from $3.4 billion in the corresponding period of 2024. The executive secretary, represented by Mr Abubakar Yerima, Director, Strategic Services,…

Oil Prices Tighten over Demand, Supply Uncertainties Oil prices were restricted below $60 per barrel in the global commodity market due to demand and supply uncertainties. Though tracking below $60 mark, oil prices have seen a mild recovery, having plunged to $58 level due to US-Venezuela tensions. Investors have locked in profits while reassessing outlook, with signs of elevated supply and softer demand conditions with unresolved geopolitical tensions. Brent crude was trading at $59.87 per barrel, down around 0.5% from the previous close of $60.17. US benchmark West Texas Intermediate (WTI) also decreased by about 0.5% to $56.24, compared to…

CBN Hikes Rates on Treasury Bills with 91, 182-Day Tenors The Central Bank of Nigeria (CBN) extended its upward spot rates adjustment on Nigerian Treasury bills allotted to investors at the final auction conducted for the year 2025 on Wednesday. At the primary market auction, the CBN offered Nigerian Treasury bills totalling ₦700 billion for investors’ subscription, split across three maturities: 91-day, 182-day and 364 day bills. The midweek auction attracted significant interest from investors seeking to take positions amidst sustained spot rates repricing that started in December. Total subscription came in at N1.509 trillion, more than twice the offer…

Seplat Energy Names Mohammed, Ettah Independent NEDs The Board of Seplat Energy on Wednesday announced the appointment of Engineer Saidu Aliyu Mohammed and Larry Ephraim Ettah as Independent Non-Executive Directors (NEDs) of the Company with effect from 1 January 2026. A statement by the company said that the appointments followed the resignation of Bello Rabiu and Babs Omotowa from the Board in April 2025 due to their appointments to the Board of NNPC Limited by the President of the Federal Republic of Nigeria. “The Company embarked on the recruitment process for their replacements in line with the Board of Directors’…

Nigeria’s Oil Regulators’ Chiefs Resign, Tinubu Nominates New CEOs President Bola Ahmed Tinubu has forwarded the names of two nominees to the Senate for confirmation as chief executive officers of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the President said the nominations followed the resignation of Engineer Farouk Ahmed, former Chief Executive of the NMDPRA, and Gbenga Komolafe, former Chief Executive of the NUPRC. Both officials were appointed in 2021 by former President…

Equity Investors Gain N245bn as First Holdco, Access Rally With increased interest in banking names like First Holdco and Access Holdings, the Nigerian Exchange (NGX) index rose as equity investors gained about N245 billion. The stock market closed on a positive note with key market performance indicators both rising by 0.26% on Wednesday. The local bourse experienced renewed buying interest in some mid-cap and blue-chip stocks across major market sectors, recording significant interest in financial stocks. Stockbrokers spotted increased interest in insurance sector and banking sector, and notable gained in the midweek rally include OKOMUOIL, FIRSTHOLDCO, CAP, VITAFOAM, and ACCESSCORP…

PenCom Begins Disbursement of N758 billion to Retirees The Director-General (D-G) of the National Pension Commission (PenCom), Ms Omolola Oloworaran, says the commission has begun the disbursement of N758 billion bond approved by the Federal Government to clear outstanding pension liabilities. Oloworaran said this while giving her one-year scorecard at the Pension Revolution Summit in Abuja on Monday. She said that the N758 billion bond approved by President Bola Tinubu in February, had been cashed. She said that over N600 billion had been disbursed to clear the outstanding liabilities. According to her, the pension assets in the country has grown…

Oil Prices Below $60 over Russian-Ukraine Peace Optimism Oil prices fell on Tuesday on optimism over a potential Russia-Ukraine peace deal that could ease sanctions on Russian crude. The market anticipates a supply glut as predicted by the World Bank and other energy agencies will reduce global prices of crude in the not-too-distant future. Brent Crude futures prices traded down by 2.10% to $59.85 per barrel on Tuesday. Also, the U.S. benchmark, WTI Crude, declined by 2.22% to $55.56 per barrel. US President Donald Trump said he held extensive talks with European leaders on the Ukraine-Russia war, noting that the…

Naira Diverges, Exchange Rates Gap Collapses to N25 The naira traded on a mixed note across the foreign exchange market amidst an increase in international payments, which some analysts have attributed to year-end import demand. The local currency traded on a calm note in the official window on Tuesday, but foreign currency demand tempered in the informal segment due to offshore dollar transfers to Nigerians. The Central Bank of Nigeria (CBN) hinted in its daily FX update that the official spot rate was unchanged at ₦1,451.82 per dollar, supported by intervention. Meanwhile, the naira appreciated ₦1,476 in the parallel market,…