Industry news and update
DPH, The largest financial services in the world and contributes to the vitalization of household financial assets through providing high quality products and services. In addition to these, investment products that are suitable to the medium to long term asset building for individuals are developed…
Nigerian Banking Sector Shines: Wema Bank Leads with 152.7% Stock Return in 2025
The Nigerian stock market has showcased remarkable growth in its banking sector, with Wema Bank emerging as the top-performing bank stock on the Nigerian Exchange (NGX) as of July 17, 2025. According to data released by financial analyst StatiSense, Wema Bank recorded an impressive one-year return of 152.7%, outpacing its peers and signaling strong investor
Stocks hit ₦82.41trn as investors bet possible rate cut effect on yields
The Nigerian stock market continued its bullish trajectory this week, with the All-Share Index (ASI) surpassing 130,000 points and total market capitalization reaching a record ₦82.41 trillion. This performance is driven by growing optimism that the Central Bank of Nigeria (CBN) could ease monetary policy at its upcoming Monetary Policy Committee (MPC) meeting on July
Nigeria’s inflation rate declines 3rd consecutive month to 22.22%
Nigeria’s headline inflation rate eased for the third consecutive month, falling to 22.22% in June 2025 from 22.97% in May, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). This represents a 0.75% point decline, reinforcing signs of a gradual slowdown in consumer price growth across the country. The trend
Nigeria Seeks $2.2 Billion Private Sector Investment to Achieve 30,000MW Power Ambition
Nigeria’s drive to boost electricity generation capacity to 30,000 megawatts (MW) by 2030 hinges on a major push for $2.2 billion in private sector investment, aimed at revitalizing the country’s aging and overstretched transmission infrastructure. This urgent call for funding took centre stage at a recent Power Sector Summit convened by the House of Representatives Committee on
NGX Group Position Nigeria’s Capital Market to the Forefront of Africa’s Finance
Nigeria’s capital market is undergoing a historic resurgence, fueled by clear regulatory signals, bold economic reforms, and growing investor confidence. At the heart of this transformation is the Nigerian Exchange Group (NGX Group), under the leadership of its Group Managing Director and CEO, Temi Popoola. His forward thinking strategy is not just revitalizing the market,
IMF Warns of Rising Cryptocurrency Risks as Nigeria Emerges Global Leader 1,511% in five years
The International Monetary Fund (IMF) has issued a warning over the increasing risks associated with cryptocurrency use in emerging markets, placing Nigeria at the center of global concern. With the global cryptocurrency market surging by 1,511% to $3.4 trillion between 2020 and 2024, Nigeria has become one of the top three countries for crypto adoption,
Nigerian Stock Market Records Historic N1.8 Trillion Gain in Landmark Rally
The Nigerian Stock Exchange, operating under the Nigerian Exchange Group (NGX) Limited, achieved a historic milestone as investors gained an unprecedented N1.806 trillion in a single day. This remarkable surge reflects renewed investor confidence in Nigeria’s equities market, driven by improved liquidity conditions and the positive sentiment surrounding ongoing economic reforms. The market’s performance was
July 2025 FGN Savings Bond Subscription Now Open, Attractive Interest Rates Up to 16.762%
The Debt Management Office (DMO) has announced the opening of the subscription window for the July 2025 Federal Government of Nigeria (FGN) Savings Bonds, offering Nigerians an opportunity to invest in secure, government-backed instruments with competitive returns. The offer runs from Monday, July 7, 2025, to Friday, July 11, 2025.This month’s issuance features two bond
Nigeria’s Oil Production to Get Boost as Shell Resumes Export
With Shell’s Trans Niger Pipeline and the Forcados terminal returning as early as November, economists predict that Nigeria’s oil production would increase beyond 1.6 million barrels per day (bpd), helping to stabilize the government’s dwindling oil revenue.After repairs are finished, the Forcados Oil Terminal will restart export operations by the end of October, according to
NNPC declares N674bn profit after tax for 2021
The Nigerian National Petroleum Corporation Limited has declared a profit of N674 billion after tax for the 2021 Fiscal year.The NNPC announced the results via their twitter account on October 4th, 2022.The audited financial statements for 2021 have been approved by the Board, according to NNPCL. “NNPCL has progressed to a new performance level, from
CBN COMBATS INFLATION BY RAISING INTEREST RATES TO 15.5%
In an aggressive move to combat inflation, the Central Bank of Nigeria (CBN) increased the Monetary Policy Rate (MPR) to 15.5 percent from 14 percent.Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria, made the announcement yesterday during a press conference following the conclusion of the 5th Monetary Policy Committee meeting in 2022 in Abuja. He announced an increase in the Cash Reserve Ratio (CRR) to a minimum of 32.5% from 22.5 percent in July, while keeping the Liquidity Ratio at 30%.”Mr. Emefiele stated, “The committee unanimously voted to raise the MPR…The MPC voted to increase the MPR to 15.5, while maintaining the asymmetric corridor at +100 -700 basis points around the MPR. On why the rate was raised, he said, “Members deliberated the impact of the widening margin between the current policy rate of 14 percent and the inflation rate of 20.52 percent. “At this meeting, the option of reducing the policy rate was not considered as this would be gravely detrimental to
NAIRA CONTINUES FREE FALL AGAINST THE DOLLAR
The naira/US dollar exchange rate fell by 0.69% on Thursday morning, September 29, 2022, to trade at N730/$1 in the parallel market, down from N725/$1 on Wednesday.According to information obtained from black market traders, this is the case.Similarly, the official Investors and Exporters window recorded a 0.01% depreciation to close at N436.37/$1 on Wednesday, September 28th 2022, from N436.33/$1 the previous session.Meanwhile, on Wednesday, September 28th, 2022, a total of $119.49 million was traded on the official market, a 20.17% increased from $99.43 million traded on Tuesday.
Nigeria to receive investments to the tune of $618 million from AfDB, Islamic Development Bank and France
The African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the French Development Agency (FDA) have announced intentions to invest $618 million in Nigeria’s Digital and Creative Enterprises Programme (I-DICE) in an effort to increase funding for the country’s creatives.This information was presented by Dr. Akinwumi Adesina, head of the AfDB, during the Nigeria International Economic Partnership Forum held in conjunction with the 77th United Nations General Assembly in New York.According to the AfDB, the fund would assist 451 digital SMEs and 225 creative start-ups in the use of new technology. The AfDB chief added that the bank had invested 4.5 billion dollars in Nigeria thus far, and that the country remained an appealing investment destination. In addition, the International Fund for Agricultural Development and the IsDB provided $540 million to develop Special Agro-industrial Processing Zones in Nigeria to help unlock agricultural potential, boost food and agribusiness value chains, and make Nigeria more competitive. Adesina emphasized the importance of reducing Nigeria’s infrastructure deficit, citing the National Integrated Infrastructure Master Plan, which shows that Nigeria will require 759 billion dollars in total financing to support infrastructure over a 23-year period (2020-2043). Deutschepartners.com
NIGERIA’S NNPC BECOMES PRIVATE
The official unveiling took place on July 19, 2022, at the presidential banquet hall in Abuja .The company’s operations will now be regulated by the Companies and Allied Matters Act (CAMA). The legal transition, based on the new Petroleum Industry Act (PIA), took effect July 1. The NNPC Limited was then floated with an initial
Oil Prices Fall Below $100, Nigeria’s Production Hit 1.158mb/Day
Brent, the international benchmark for crude, fell below $100 per barrel on Tuesday as the latest figures released by the Organisation of Petroleum Exporting Countries showed an increase in Nigeria’s oil production from 1.024 million barrels per day to 1.158mb/d. Industry data indicated that Brent dropped in price by $7.72 or 7.21 per cent to close at
