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, […]
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. […]
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 […]
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 […]
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 […]
Weekly Market Review: January 2025, Edition 1
Prologue While addressing the country on January 1, 2025, President Bola Ahmed Tinubu reiterated his administration’s steadfast resolve to curb inflation, targeting a significant reduction from 34.60% to 15% by the close of 2025. The target underscores the administration’s focus on restoring economic stability and alleviating Nigeria’s rising cost of living—as inflation control remains critical […]
Weekly Market Review: December 2024, Edition 5
Prologue As inflation continues to present a persistent and formidable challenge in Nigeria, analysts suggest that the Federal Government could potentially achieve a return to single-digit inflation in the upcoming year. However, this would be contingent upon attracting a significant influx of Foreign Direct Investments (FDIs) into the country. One particularly optimistic proposal highlights that […]
Weekly Market Review: December 2024, Edition 4
Prologue The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) was without a doubt the most impactful decision maker for the Nigerian economy in 2024. At all its meetings this year, the Monetary Policy Rate (MPR) was hiked along with several adjustments to other monetary policy tools (including the Cash Reserve Ratio […]
Weekly Market Review: December 2024, Edition 3
Prologue Nigeria’s monetary authorities have gone far and beyond to address the country’s inflation and foreign exchange problems and, thankfully, positive results have started to show. The Monetary Policy Rate (MPR) has been pushed up a whole 875 basis points since the start of 2024 along with many complementing measures that have been instituted to […]
Weekly Market Review: December 2024, Edition 2
Prologue Last week, Nigeria conducted a successful Eurobond auction, the first issuance since 2022, and it was a revelation of overwhelming investor confidence in the country’s macroeconomic policies. The auction received a total subscription above $9 billion, significantly exceeding the $2.2 billion issued. Analysts believe this strong demand reflected support from a broad array of […]