NGX dips by N22 billion amid losses in Nestle, 23 stocks –

The Nigerian Exchange Limited (NGX) has resumed trading on bearish note this week as capitalization declined by N22 billion amid losses in Nestle Nigeria Plc and other 23 stocks. At the close of trading yesterday, the all-share index (ASI) lost 33.72 points, representing a loss of 0.03 per cent to close at 104,529.62 points. Also, market capitalization shed N22 billion to close at N65.685 trillion. The downturn was driven by price depreciation in large and medium capitalized stocks amongst which are; Nestle Nigeria, Fidelity Bank, Oando, United Bank for Africa (UBA) and Africa Prudential.….. (Read More)

 OPEC cuts global oil demand growth forecasts over US tariffs –

The Organization of the Petroleum Exporting Countries on Monday slightly cut its forecast for oil demand growth, citing the impact of US tariffs on the world economy. A report by Reuters quoting the OPEC Monthly Oil Market Report for April said the Secretariat now sees demand growing by 1.3 million barrels per day in 2025, down from a previous forecast of 1.4 million bpd. Both forecasts are down 150,000 bpd from last month’s figures. The price of OPEC’s basket of twelve crudes fell to $66.25 a barrel on Monday, compared with $70.85 the previous Friday, according to OPEC Secretariat calculations….(Read More)

We need strong, resilient banks to achieve $1trn economy — CBN –

The Central Bank of Nigeria (CBN) has said that Nigeria would need strong, resilient and stable banks in its quest to achieve the $1 trillion economy target set by President Bola Tinubu against 2030 timeline.  In an address at the 36th CBN Seminar for Finance Correspondents and Business Editors, in Abuja, yesterday, the Deputy Governor, Corporate Services of the bank, Ms. Emem Usoro, said that the on-going banks’ recapitalization was aimed at achieving that goal…..(Read More)

NGA to Showcase Nigeria’s Gas Reserve, Investment Opportunities in China –

The Nigerian Gas Association (NGA) has confirmed its strategic participation at the 29th World Gas Conference (WGC2025) holding next month in Beijing, China and plans to showcase several attractive investment opportunities in Nigeria including the 210.54-cubit feet of gas reserve (tcf), the Decade of Gas initiative, and enabling policies, among others. At the conference scheduled for May 19–23, 2025, President of NGA, Mr. Akachukwu Nwokedi revealed that the association will host a Nigeria Pavilion at the prestigious triennial event, organized by the International Gas Union (IGU).  Nwokedi said the Pavilion will spotlight Nigeria’s gas sector progress, highlight investment-ready opportunities, and promote strategic interests under the Decade of Gas initiative…..(Read More)

CBN seeks more competitive export market for Nigeria products –

 Nigerian manufacturers can only stand a chance in the global market if their products can compete favorably with their counterparts abroad, the Central Bank of Nigeria (CBN) announced yesterday. Director, Consumer Protection and Financial Department, CBN, Dr. Aisha Olatinwo broke the news during the town hall meeting of the Bankers Committee in Lagos. Tagged, ‘Enhancing the competitiveness of Nigerian products; drew participants from the government functionaries, business community including manufacturers, bankers, auditors, tax consultants, amongst others.…(Read More)

UK business confidence falls to lowest level in over two years, survey shows –

UK business confidence has fallen to the lowest level for more than two years amid growing concern over tax rises and Donald Trump’s escalating trade war, according to a survey. Highlighting the risks to the economy, the Institute of Chartered Accountants in England and Wales (ICAEW) said the first quarter of the year had been “harrowing” for companies across Britain. The industry body for the accountancy profession said its survey of 1,000 chartered accountants found a sharp drop in business confidence, fueled by record high tax worries, rising cost pressures and slowing sales expectations……..(Read More)