Author: Marketforces Africa

Oil Prices Ease over Excess Supply Concerns, Diesel Flow Tightens Oil prices retreated on Tuesday as the Organization of the Petroleum Exporting Countries’ (OPEC) plan to increase production offset market optimism over a potential trade deal between the US and China. Brent crude was trading at $64.72 per barrel, down 0.64% from the previous close of $65.14. US benchmark West Texas Intermediate (WTI) also decreased by 0.61% to $60.97, compared to $61.35 in the prior session. Analysts said investors are weighing progress in US-China trade talks against the broader supply outlook. OPEC and its allies, known as OPEC+, are expected…

Equities Investors Lose N95bn as Tier-1 Banks Face Selloffs The Nigerian Exchange (NGX) lost about N95 billion on Monday due to investors’ negative sentiment in Tier-1 banks, insurance stocks and Nigerian Breweries, among other decliners. The local bourse opened the week on a negative note, as losses in banking names such as UBA (-4.3%), GTCO (-2.0%), ZENITHBANK (-2.5%) and ACCESSCORP (-5.4%) drove the benchmark index lower. The stock market year-to-date returns moderated to +51.1%, respectively, while the NGX All-Share Index fell by 148.90 basis points to close at 155,496.15 in reaction to negative price movements. Stock market capitalisation lost ₦94.53…

Exchange Rates Gap Increases as Naira Diverges in FX Markets The exchange rates gap between official and unofficial currency markets widened to N23 per greenback, according to channel check. Updated FX data from the Central Bank of Nigeria (CBN) showed that the naira appreciated week on week to close at N1457 per dollar, from N1475. The official market remained largely stable, supported by steady foreign portfolio investors (FPI) inflows and ample system liquidity. The naira gained N18 on the dollar, supported by limited FX intervention, while rising external reserves reinforce overall market stability. In the forwards market, the naira rates…

Equity Investors Gain N4.23trn as NGX Index Hits Record High Equity investors gained N4.23 trillion on the Nigerian Exchange (NGX) as the all-share index hit a record high over sustained bargain hunting. The Nigerian bourse reached a new 52-week high at 155,640.55 points, up 4.47% week-on-week amidst the third quarter of the year corporate earnings releases. Nigerian stocks saw buying interest in mid- and large-cap blue-chip stocks as well as strategic sectoral reallocation by investors on the back of strong fundamentals. The bargain hunting came amidst a flurry of impressive 9-month earnings scorecards published by corporates to rouse positive sentiments…

Total Allocation to FG, States, LGs Rises by 50% in N16.45trn Over a span of nine months, the Federal Government (FG), along with state and local authorities, has obtained N16.45 billion from revenue collected at the federal level, marking an approximately 50% increase compared to the same timeframe in 2024. The Federation Account Allocation Committee (FAAC) continued its upward trajectory in 2025, marking one of the strongest fiscal performances in recent years. Nigeria’s fiscal strength has been bolstered since removal of subsidy on petroleum, raising monthly allocation to tiers of government in multiple folds. Though more money flow through three…

U.S Headline Inflation Rises to 3% in September In September 2025, the U.S. Consumer Price Index (CPI) eased slightly from the previous month, with the Bureau of Labor Statistics (BLS) reporting a 0.3% month-on-month increase (vs. +0.4% in August). The annual headline inflation rate ticked up marginally to 3.0% from 2.9%, reflecting a mixed inflation reading heading into Q4. The primary driver of the monthly increase was energy prices, particularly gasoline, while core components showed signs of cooling. Core CPI, which excludes food and energy, rose 0.2% month-on-month, slowing from the 0.3% recorded in August, bringing the annual rate to…

UK Labour Market Data Issues Complicate BoE Rate-Cutting Debate -Fitch The UK labour market could be weakening more rapidly than official data suggest, and business surveys point to a further rise in the unemployment rate. This underpins Fitch Ratings’ view that the Bank of England (BOE) will cut the policy rate before year-end, as highlighted in a new report, which highlighted that labour market developments are important for officials in setting monetary policy. But it is harder for policymakers to interpret signals from the labour market figures about the degree of slack owing to the low reliability of the Office…

Naira Rises to N1460 as Foreign Reserves Climb to $42.865bn The naira appreciated against the US dollar at the Nigerian foreign exchange market as the currency market was sufficiently liquid on Thursday. Updated daily fx data from the Central Bank of Nigeria (CBN) showed that the local currency climbed to N1460, reflecting the absence of pressures from higher demand for dollars. The spot fx rate reached an intraday high of N1464 per dollar, while the best fx transactions on the day were closed at N1458. The official FX spot rate closed at ₦1,460.49/$ from N1,463.4375. Meanwhile, Nigeria’s foreign reserves maintained…

Ecobank Nigeria Partners LSETF to Empower MSMEs Ecobank Nigeria, a subsidiary of the leading pan-African banking group, has entered into a strategic partnership with the Lagos State Employment Trust Fund (LSETF) to empower Micro, Small, and Medium Enterprises (MSMEs) across Lagos through capacity building, market access, and enterprise development initiatives. The collaboration is designed to strengthen small businesses, promote entrepreneurship, and boost job creation as part of broader efforts to reduce unemployment and drive inclusive economic growth in the state. Under this partnership, Ecobank will provide MSMEs with access to business advisory support, digital tools, networking platforms, and new market…

Bitcoin, Ethereum Pullback on Sharp Retail Selloffs Bitcoin, Ethereum and other top cryptocurrencies are trading negative on Wednesday as euphoria from the recent rally fizzled out. Most of the tokens were in the red, and the orange coin fluctuation is dragging crypto market cap lower. The crypto market has continued to see sharp price fluctuations, while investor positions are underwhelming when compared to the number of exits. Sell pressures on Ethereum has cost the altcoin a 1.64% loss in the last 24 hours, with market capitalisation settling at $462.199 billion. BTCUSD has lost about 0.9% on the day, trading at…