Author: Marketforces Africa

Headline Inflation Rate Estimated to Ease to 14.30% In what appears to be an unusual consensus, two leading investment firms have estimated that Nigeria’s inflation rate for November will print at 14.30% ahead of data release by the statistics office. The National Bureau of Statistics (NBS) is expected to release the consumer price index report in the new week amidst sustained disinflation. In October, Nigeria’s headline inflation printed low at 16.05%, and a slew of Broadstreet analysts maintain disinflation will persist for 2025 following the rebased exercise. In a note, the research subsidiary of Coronation Merchant Bank Limited hinted that…

Prestige Assurance Eyes N1.55bn Profit in Q1-2026 Prestige Assurance Plc eyes N1.55 billion profit for the first quarter of financial year 2026; the company dropped the hint in its earnings forecast disclosure. The Assurance Company is hoping to see N11.970 billion in insurance revenue in the first three months of operating next year, reflecting strong management confidence about its offerings. Prestige Assurance Plc projects insurance service expenses to reach N9.125 billion in the same period, leaving Insurance service results before reinsurance contracts held at an estimated N2.884 billion. It hopes to spend N1.118 billion as expenses relating to re-insurance contract…

Abbey Mortgage Bank Forecasts N0.366bn Profit for Q1 2026 Abbey Mortgage Bank Plc is targeting N0.366 billion profit after tax for the first quarter of financial year 2026, details from the company’s earnings forecast revealed. In the stock market on Friday, the market value of Abbey Mortgage Bank Plc’s 10.153 billion outstanding shares was valued at N59.400 billion, having traded flat at N5.85 per unit. Amidst plan to switch to commercial bank license, the mortgage lender anticipates N1.031 billion net revenue generation from interest earnings assets. The net revenue reflects the expectation that the company’s interest income will berth at…

Nigeria’s Trade Surplus Slides to N6.69trn in Q3 Nigeria recorded a trade surplus of N6.691 trillion in the third quarter of 2025. This figure represents a 1.03 per cent drop over the N7.46 trillion recorded in Q2 ’25. The National Bureau of Statistics (NBS) released its Q3 2025 foreign trade statistics yesterday, showing that Nigeria’s total merchandise trade stood at N38.937 trillion in Q3. This represents an increase of 8.71 per cent over the value of N35.818 trillion recorded in the corresponding period of 2024 and an increase by 2.36 per cent compared to the value recorded in the preceding…

Dangote Launches N1trn Scholarship Scheme for Nigerian Students Chairman of the Aliko Dangote Foundation (ADF) and the President of Dangote Group, Aliko Dangote, has announced a ₦1 trillion scholarship programme to expand access to education and promote academic excellence across Nigeria. Starting in 2026, the initiative will support over 1.3 million students from all 774 local government areas, with ₦100 billion committed annually for 10 years. The programme targets Nigeria’s most vulnerable learners and is structured into three categories: Aliko Dangote STEM Scholars – 30,000 undergraduates in public universities and polytechnics will receive tuition support of up to ₦600,000 per…

Equity Portfolio Value in Nigerian Market Grows to N94.32trn The Nigerian Exchange (NGX) market capitalisation expanded to N94.32 trillion as equities investors’ portfolio value rose by 694 billion on Thursday. The stock market expansion was fuelled by renewed interest in insurance stocks, among others, with additional drive from industrial and consumer goods indexes. With second significant market rallies, the local bourse key performance indicators were boosted by 74 basis points with positive sentiment from PZ Cussons following the announcement reversing a decision to exit African markets. The market recorded positive price movement in MTNN, DANGSUGAR, PZ, BERGER, among others. Specifically,…

SDF Placements Reduce as Banks Rotate Funds into OMO Bills The amount placed in the Standing Deposit Facility (SDF) of the Central Bank of Nigeria (CBN) eased by 8% as deposit money banks (DMBs) rotated into OMO bills to boost their investment securities. The excess liquidity in the financial system opened up investment options for market players targeting opportunities in money market instruments. Banks have the choice to lend or invest in short-term securities, but preference has been given to placement with the CBN at a 22.50% SDF rate. The Apex Bank, however, floated N600 billion in OMO bills across…

Equities Investors Gain N694bn as Nigerian Exchange Rebounds The equities market rebounded on Thursday, adding N694 billion to investors’ portfolios. The gain was driven by stocks like Berger Paints, Japaul Gold, Morison, PZ Cussons, Legend Internet and 26 other advancing stocks. Specifically, the market capitalisation rose by 0.74 pr cent, increasing from N93.624 trillion to N94.318 trillion. Similarly, the All-Share Index gained 0.74 per cent, closing at 147,950.59 points, up from Wednesday’s 146,862.01. This increase made the Year-To-Date (YTD) rise by 43.74 per cent, with a positive market breadth of 31 gainers and 24 losers. Berger Paints and Japaul Gold…

Sell Pressure Shrinks Nigerian Exchange, Investors Lose N34bn The equities segment of the Nigerian Exchange (NGX) sell pressure extended on Wednesday, with investors recording a N34 billion decline in portfolio value due to negative sentiment. Declines in CHAMS, Halldane McCall, UACN, Sunu Assurances and 20 other stocks pushed the market into negative territory. Specifically, investors lost N34 billion as the market capitalisation, which opened at N93.658 trillion, recorded a slight change to close at N93.624 trillion. The All-Share Index (ASI) also declined by 0.05 per cent or 78.28 per cent, settling at 146,862.01 when compared to 146,940.29 recorded previously. Consequently,…

Naira Depreciates over Rising Foreign Payments The naira is not getting better at the official and parallel markets despite $100 million FX sales to banks at the beginning of the week, a move that shrank Bureaux de change operators to 82. The market continues to suffer from imbalanced demand for international payments via the official window, and FX inflows across key sources include foreign portfolio investors, exporters, non-bank corporates (especially international oil companies), individuals and others. With a significant increase in year-end FX requisitions to settle import payments, total inflows have continue to track below $900 million as per the…