- Business
Current account surplus surges by 256% to $4.98bn in Q1 2026, says CBN
Nigeria’s current account surplus rose by 255.71per cent to $4.98 billion in the first quarter of 2026, from $1.40 billion in the fourth quarter of 2025, according to provisional balance of payments statistics released by the Central Bank of Nigeria (CBN). The surplus was also 46.04per cent higher than the $3.41 billion recorded in the corresponding period of 2025, indicating…
Read More » - Business
Nigeria’s equities market drops by N759bn
Bearish sentiment dominated on the Nigeria’s equities market as the all capitalisation declined by N759 billion amid heavy sell-offs. The All-Share Index (ASI) lost 1,182.08 points, representing a loss of 0.49 per cent to close at 240,802.72 points. Also, market capitalisation shed by N759 billion to close at N 154.445 trillion. The decline was driven by price depreciation in large…
Read More » - Economy
Naira remains undervalued by 25.6%, says IMF
The International Monetary Fund (IMF) has said the naira remains undervalued by 25.6 per cent despite recovering some ground against the US dollar following Nigeria’s foreign exchange (FX) reforms. An undervalued currency means the exchange rate is weaker than what economic fundamentals would ordinarily support. In its latest Article IV consultation report on Nigeria, the Washington-based institution said its Real…
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Equities market drops by N782.44bn on selloff in GTCO
The Nigerian equities market closed Tuesday trading session on a bearish note, dropping by N782.44 billion to N155.2 trillion from N155.99 trillion it opened for trading. Losses in GTCO (-7.1per cent), Zenith Bank (-2.8per cent), UBA (-3.7per cent) and First Holdco (-1.6per cent) dragged the Nigerian Exchange Limited All-Share Index lower by 0.5per cent to 241,984.80 basis points. Consequently, the…
Read More » - Economy
Nigeria’s gas production increases to 7.93bcf/d in May 2026, says NUPRC
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that Nigeria’s average daily natural gas production rose to 7.93 billion standard cubic feet per day (bcf/d) in May 2026. This is about 0.63per cent year-on-year increase from the 7.88bcf/d recorded in the corresponding period of 2025. The latest figures highlight the country’s steady progress in expanding gas production and utilisation as…
Read More » - Economy
Lower energy prices likely to taper inflation in June, says analysts
A group of analysts at Cordros Research have said developments across major inflation drivers such as renewed moderation in global energy prices, continued naira stability and the onset of green harvests suggest that inflationary pressures are likely to ease in June 2026. This is coming amid the National Bureau of Statistics (NBS) Nigeria’s headline inflation that gained 24basis points to…
Read More » - Perspectives
America borrows power, Nigeria borrows survival, by Blaise Udunze
Findings show that the United States owes more than $36 trillion while Nigeria owes over N159.28 trillion, with external debt now standing at approximately $51.8 billion. At a first glance, when comparing the debt profiles of the world’s largest economy and Africa’s largest economy, it may though seem misplaced. America can borrow almost indefinitely because it issues the world’s reserve…
Read More » - Company Report
United Capital acquires strategic equity stake in NGX Group
United Capital Group, on Monday said it has completed the acquisition of a Five per cent equity stake in the Nigerian Exchange Group (NGX Plc), securing a significant ownership in one of the most important institutions at the heart of Nigeria’s financial system. The transaction has been successfully concluded, marking a significant milestone in the Group’s long-term growth strategy. The…
Read More » - Company Report
Oando awaits FRCN to review 2025 audited results
Oando Plc on Monday informed its shareholders and the investing public of Financial Reporting Council of Nigeria (FRCN) reviewing its 2025 Audited Financial Statements. Chief Financial Officer, Oando, Adeola Ogunsemi in a statement said FRCN ongoing review is based on the previous announcement regarding the approval of the Company’s 2025 Audited Financial Statements by the Board of Directors and the…
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Miskay Boutique International quotes N2.12bn CP on FMDQ Exchange
FMDQ Securities Exchange Limited has approved the quotation of Miskay Boutique International Limited’s N0.28 billion Series 1 Tranche A, N0.82 billion Series 1 Tranche B, and N1.02 billion Series 1 Tranche C Commercial Paper (CP) under its N5.00 billion CP Issuance Programme. This approval by the Exchange’s Board Listings and Markets Committee underscores FMDQ Exchange’s pivotal role as a credible…
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