FG lists N4.3bn savings bonds on NGX –

The Federal Government has listed its April 2025 Savings Bonds valued at N4.3bn on the Nigerian Exchange Limited. The listing, which took place on Tuesday, was disclosed in a market bulletin issued by the NGX Regulation Limited. According to the NGX, two tranches of the FGN Savings Bonds were admitted to trading – the two-year 16.046 per cent FGS April 2027 and the three-year 17.046 per cent FGS April 2028. A total of N1.13bn was raised for the 2027 bond, with 1,135,475 units issued, while the longer-tenored 2028 bond saw a total subscription of N3.2bn, amounting to 3,203,072 units…….(Read More)

FX reserves rise by $86.67m amidst CBN’s multiple channels –

The gross FX reserves increased for the second consecutive week, growing by $86.67 million to $38.10 billion following strong measures instituted by the Central Bank of Nigeria (CBN) to attract more inflows to the economy, Daily Trust can report. Analysts say stronger FX reserves are expected to bolster the CBN’s capacity to manage excess naira volatility through sustained market interventions and achieve long-term stability of the exchange rate. The apex bank is said to be cultivating multiple FX sources to increase dollar inflows, boost dollar access to manufacturers and retail end users….(Read More)

Fuel import ban fears re-ignite Dangote, marketers’ row –

Oil marketers have declared that the Dangote Petroleum Refinery and others in Nigeria may raise the pump price of petrol to N1,500 per litre once there is an outright ban on fuel importation. While the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Udadike, affirmed this, the Petroleum Products Retail Outlet Owners Association of Nigeria said PETROAN could not predict any price, but stressed that there will be a surge in price if the Federal Government stops fuel importation. However, officials of the Dangote refinery dismissed the projection, saying the marketers made the claims to justify their intention to continue importing “substandard” fuel………(Read More)

External Reserves Dip 6.5% YTD On Debt Servicing, Dollar Sales –

Nigeria’s gross external reserves have declined by 6.5 per cent year-to-date, shedding $2.67 billion between January and May 2025, amid mounting debt servicing obligations and sustained dollar interventions by the Central Bank of Nigeria (CBN) to stabilise the naira. Data from the apex bank showed that the nation’s reserves, which stood at $40.88 billion as at January 2, 2025, fell to $38.22 billion by May 12, 2025. The reserves had declined to its lowest level last month, recording $37.797 billion as at April 25, 2025……..(Read More)

Nigeria’s new crude blend, Obodo, enters market –

The Nigerian Upstream Petroleum Regulatory Commission says the first cargo of the new Obodo crude blend has been shipped. In a statement by the NUPRC Chief Executive, Gbenga Komolafe, on Tuesday, he congratulated Conoil Producing Limited on the successful shipment of the first cargo of the Obodo crude blend. Komolafe said this development marks a significant milestone for Nigeria’s upstream sector, demonstrating the growing capacity of indigenous operators to contribute meaningfully to national crude oil production and exports……(Read More)

China, US to lift sweeping tariffs in trade war climbdown –

The United States and China will lift sweeping tariffs on each others’ goods for 90 days on Wednesday, after a temporary ceasefire in a brutal trade war that roiled global markets and international supply chains. Washington and Beijing had agreed to drastically lower skyhigh tariffs in a deal that emerged from pivotal talks at the weekend in Geneva. US President Donald Trump said Washington now had the blueprint for a “very, very strong” trade deal with China that would see Beijing’s economy “open up” to US businesses, in an interview broadcast Tuesday on Fox News……(Read More)