Weekly Market Review: February 2025, Edition 2

Prologue The posture exhibited at the auction last Wednesday indicates a broader trend in the Nigerian fixed-income market, where demand for government securities continues to outpace supply, particularly amid the uncertainty of inflationary developments and revaluation of the Naira. For many investors, the NTB market remains one of the few viable options for relatively low-risk, […]

Mid-Week Market Review: February 2025, Edition 1

Commodities Oil prices dropped on Monday during a volatile trading session. US WTI crude oil declined by 0.87% to $73.16, while Brent crude futures fell by 1.04%, closing at $75.96 per barrel. Despite President Trump’s calls for OPEC+ and Saudi Arabia to reduce prices, no changes were made to oil production plans during the OPEC+ […]

Weekly Market Review: February 2025, Edition 1

Prologue The Federal Government, through the Debt Management Office (DMO), conducted its first bond auction of the year on Monday, aiming to raise ₦450 billion—the total amount on offer for the three offered tenors. The funds raised will play a crucial role in financing capital projects outlined in the 2025 budget or paying existing debt. […]

Mid-Week Market Review: January 2025, Edition 4

Commodities The oil market experienced noticeable fluctuations last week. Brent crude began the week at $79.72 per barrel, traded as high as $79.99, dipped to a low of $76.92, and ultimately closed at $77.55. Meanwhile, WTI crude opened at $78.19, reached a high of $78.47, fell to a low of $74.01, and ended the week […]

Weekly Market Review: January 2025, Edition 4

Prologue The first FGN Bond auction for 2025 set to take place on Monday is expected to draw significant interest from both local and foreign investors. The Nigerian government has announced that it will be offering a whopping N450 billion in bonds, split across three maturities: N100 billion for the April 2029 bond, N150 billion […]

Mid-Week Market Review: January 2025, Edition 3

Commodities Oil prices closed lower on Friday, reflecting growing concerns over potential disruptions in global supply, particularly following the recent sanctions imposed by the US on Russia’s energy sector. Brent crude futures slipped to $80.79 from the previous day’s $81.29, while US WTI crude also dropped to $77.39 from $77.85. On Monday, Brent opened at […]

Weekly Market Review: January 2025, Edition 3

Prologue As Nigeria gradually settles into the year 2025, the financial markets are at a critical juncture, shaped by record inflation, elevated interest rates, and an evolving macroeconomic landscape. With inflation climbing to an all-time high of 34.80% in December 2024—contrary to expectations of a slight decline—individuals and businesses alike are keenly observing how monetary […]

Mid-Week Market Review: January 2025, Edition 2

Commodities Oil prices surged by nearly 3% last Friday, hitting a three-month peak, following new sanctions imposed by President Joe Biden’s administration on key elements of Russia’s energy sector. These sanctions target oil producers, tankers, traders, intermediaries, and Russian ports. Brent crude futures climbed by 3.05%, closing at $79.45 per barrel, briefly surpassing the $80 […]

Weekly Market Review: January 2024, Edition 2

Prologue As the financial markets anticipate the release of Nigeria’s inflation report for December 2024, there is a growing discourse on how this data may shape the Central Bank of Nigeria’s (CBN) policy direction at the forthcoming Monetary Policy Committee (MPC) meeting (scheduled for 27th and 28th of January 2025). Given the delicate state of […]

Mid-Week Market Review: January 2025, Edition 1

Commodities Crude oil prices saw a notable increase today, following the release of production data from OPEC and Russia, both of which revealed declines in output for December. Another contributing factor to the rise was the U.S. employment report, which highlighted a low rate of layoffs and an increase in job openings, signaling a robust […]