Topic
Nigeria
Ghosts of past subsidies haunt Nigeria’s petrol discount sale
Nigeria’s government has introduced a temporary petrol discount at NNPC retail stations and insists it is not a return to subsidy. Memories of the old regime, and political suspicion, still shape how the measure is received.
BREAKING: IMF raises Nigeria’s growth forecast to 4.2%, acknowledges Nigerians are suffering
The IMF has lifted Nigeria’s 2026 growth projection to 4.2% and left the 2027 forecast at 4.3%. The Fund cited improved stability but warned that higher food and energy prices are deepening poverty and hardship for households.
Nigeria’s cash transfers need an audit trail, not just tighter controls
Nigeria has drawn most of its World Bank social safety-net financing and introduced stricter identity checks. Public trust still hinges on proof that the money reached eligible households and that failures were corrected.
FMDA projects Nigeria’s current account surplus at $8.69bn in Q3 on stronger oil earnings
The Financial Markets Dealers Association projects Nigeria’s current account surplus will widen to $8.69 billion in the third quarter of 2026. The forecast rests on lower import demand and elevated crude oil prices after a $7.54 billion surplus in Q2.
Investors lose N110.16 billion as NGX market cap drops to N162.39 trillion
Equity investors on the Nigerian Exchange lost N110.16 billion on 7 October 2026 as market capitalisation fell to N162.39 trillion. The All-Share Index declined 0.07% to 250,096.75 points, extending a multi-day retreat.
DMO raises N968.47 billion as 364-day stop rate falls to 15.85% despite strong demand
The Debt Management Office allotted N968.47 billion at its latest Treasury bills auction, above the N900 billion on offer. Strong demand for the one-year bill pushed its stop rate down to 15.85% while shorter tenors stayed undersubscribed.
GTCO, Stanbic IBTC and PZ reveal dates for dividends qualifications
Three NGX-listed companies have set October qualification dates for dividends ranging from N1 to N4.50 per share. PZ Cussons will pay a final dividend while GTCO and Stanbic IBTC will pay interim dividends.
NGX sheds N256 billion as five-day losing streak deepens
The NGX lost N256 billion on Tuesday, extending its losing streak to five sessions, even as the index's year-to-date gain remains above 60%.
Nigeria’s $5bn swap trades certainty for cheaper money
Nigeria's $5bn swap with First Abu Dhabi Bank trades fixed-cost certainty for flexible dollar liquidity — here's how the deal actually works.
NIPCO plans over $3 billion FLNG project to boost Nigeria’s gas monetisation
NIPCO Group has unveiled plans for a $3bn+ Floating LNG project in Nigeria, targeting 3 million tonnes of annual capacity — here's what's known so far.
CBN says MPR reset due to disconnect with market rates
The CBN reset its MPR from 26.5% to 23%, its biggest cut since 2006, to close a gap with actual market lending rates.
CBN 350bps MPR cut to drive equities demand as investors rotate from fixed income
The CBN's record 350bps rate cut to 23% is set to push investors from fixed income into equities — here's what's driving the shift and what to watch.