Author: Marketforces Africa

School Fees Loans: Ecobank Nigeria is offering special loan packages for parents and guardians to enable…

Trading activities on Nigerian Treasury bills ended on a bearish note last week as the average yield rose 34 basis points

The average yield on Federal Government of Nigeria (FGN) bonds rose by 10 basis points to 14.20%

The Vice President, Kashim Shettima, on Sunday said the Federal Government had obtained 163 million dollars loan from the African Development Bank to support wheat production in the country.

Pressures by liquidity requirement, Nigerian deposit money banks’ net borrowing from the central bank settled at N1 trillion

Vice President Kashim Shettima on Sunday said the Federal Government was set to plant 2 million jumbo cashew seedlings in five North-Western States.

Brent price stayed above $90 per barrel on Monday as crude oil prices declined as a result of a stronger USD

Tax Income to Boost Nigeria’s Fiscal Strength – Analysts Amidst uncertainties, analysts said they expect tax income to boost the Federal Government of Nigeria’s (FGN) fiscal strength in the current year. Key challenges facing the economy has been weak fiscal performance that has continue to cause budget deficit extension annually. Though large part of government earnings come from hydrocarbon sales, the economy remains well diversified and recently, non-oil revenue has started bucking the trend. Low revenue generation has forced government to embark on borrowings, a development that result to neck breaking debt load for an economy underperforming emerging markets peers.…

How Much Are Dangote’s Three Listed Companies Worth? Unlike many Nigerian billionaires who prefer to keep their businesses outside the stock market, Aliko Dangote has proven to be relatively different. According to business data from its site, Dangote estimated the group’s earnings at $4.3 billion, which is equal to N3.225 trillion in the local currency. The group has 15 subsidiaries, and three of them are listed on the Nigerian Exchange. It is not clear if Dangote Refinery will be listed when fully operational, but unconfirmed sources suggest that there is a plan awaiting execution to list it on the London Stock…

Nigerian, Angolan Currencies Worst Performing in Africa Top oil producers in Africa, surprisingly, have the worst record of currency performance year to date, according to a report which showed naira has officially lost more than 40% in 2023. Coming closer to the worst exchange rate condition is Angola, whose local currency has lost about 39% from the beginning of the year to date despite higher crude oil prices in the global market. In its update, CardinalStone Research said low foreign currency liquidity continues to weaken African currencies. Down the year, the Egyptian pound has lost 20% of its weight despite…