Author: Marketforces Africa

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…

President Bola Tinubu has reaffirmed Nigeria’s commitment to strengthening bilateral relations with the United Kingdom, with an emphasis on security cooperation, economic growth, and shared democratic values.

Naira Drops to N1,353 as Foreign Reserves Decline The Nigerian naira dropped to N1353 per dollar at the official window on Wednesday, reflecting increased pressure from foreign payments by eligible market participants. Confirming this, the Central Bank of Nigeria (CBN) daily FX update publication indicated that the local currency reached an intraday high of N1,362 per dollar, up from N1355 the previous day. Meanwhile, the spot rate was quoted at an intraday low of N1,349 per dollar, a sharp retreat from N1340 from the previous trading session. Nigeria’s external reserves fell by $178 million over three consecutive international payments recorded…

African Sovereign Debt to Reach 45% of GDP in 2026 – S&P African sovereign debt is projected to reach 45% of the continent’s gross domestic product (GDP) by the end of 2026, driven by additional borrowing. In a non-rating note, S&P Global Ratings estimates that commercial long-term borrowing by rated African sovereigns will reach $155 billion in 2026, up from $140 billion in 2025. This rise is driven by maturing debt obligations and ongoing fiscal financing needs. Ratings analysts project that total outstanding African sovereign commercial debt will exceed $1.2 trillion, constituting 45% of GDP (including short-term debt) by the…

Temi Popoola, the Nigerian Exchange Group Chief Executive Officer (GCEO), says Nigeria’s capital market is undergoing a re-rating. This comes as global investors reassess the country’s economic trajectory and investment potential.

Tether Gold (XAUT) price rose slightly to $4,980 over the last 24 hours in the crypto market, riding a wave of institutional adoption and market expansion. XAUT’s price surge is tied to the rise in physical gold prices in the commodity market, reflecting a sustained drive for a safe haven.

What Nigeria’s CPI Rebase Did to Real Returns Measurement When the National Bureau of Statistics (NBS) rebased the Consumer Price Index (CPI) in February 2025, headline inflation fell overnight from 34.80% to 24.48%. Yields compressed. Fixed income rallied. A question that should have been straightforward became almost impossible to answer: what is cash actually earning in Nigeria after inflation? We know what the commentary said. Statistical fix or economic illusion. Cost of living still high. Basket weights shifted. All true, all well-covered. But nobody did the obvious next thing: build the bridge between the old series and the new one,…

Brent rose by 4% on Tuesday as the Strait of Hormuz Lockdown stoked pressures on the supply side. Oil prices increased on Tuesday