Commercial paper market jumps 107% to N1.58tn –

The value of new listings of commercial papers in the first seven months of 2025 more than doubled compared to the same period in 2024 to hit N1.58tn. The PUNCH analysis of the FMDQ Financial Markets Monthly report indicated that the CP market grew with significant highs in March, May, and July 2025 as businesses resort to short-term financing to ease funding pressure. According to Corporate Finance, commercial paper refers to a short-term, unsecured debt obligation that is issued by financial institutions and large corporations to finance their payrolls, payables, inventories, and other short-term liabilities……….(Read More)

Africa Prudential posts 75% profit in H1 –

Africa Prudential Plc has posted a 75 per cent year-on-year growth in Profit Before Tax to N1.98bn, compared to N1.13bn recorded in the same period of 2024. The unaudited results released in Lagos showed that Profit After Tax rose 73 per cent to N1.35bn from N779m in the corresponding period of last year. Net total income also increased significantly by 64 per cent to N3.3bn, against N2bn recorded in 2024. According to the unaudited results, total assets climbed to N41.35bn as of June 2025, representing a 38 per cent rise from N29.95bn, while shareholders’ fund grew by 15 per cent to N11bn, despite a N1.2bn dividend payout earlier in the year………(Read More)

Dangote’s 1,000 trucks arrive, fuel distribution to begin from S’West –

Barring any last-minute change in plan, the Dangote Petroleum Refinery is expected to start its direct fuel distribution scheme soon, as 1,000 Compressed Natural Gas-powered trucks required for the exercise have arrived in Nigeria. With the 1,000 trucks, the refinery would start distributing fuel directly to marketers in Lagos, Ogun, and other South-West states, pending the delivery of the remaining 3,000 trucks. Impeccable sources and officials at the $20bn Lekki-based plant, who did not want to be named due to a lack of authorisation to speak to the press………(Read More)

DisCos rake in N1.10trn revenue in 6 months –

The 11 electricity Distribution Companies (DisCos) collected N1.101trn as revenue from their customers in the first six months of 2025, analysis of the month factsheet of DisCos has shown. The factsheet which is produced by the Nigerian Electricity Regulatory Commission (NERC) said this is from the total N1.486trn worth of the electricity the DisCos billed their customers. This means that the customers failed to pay N385.43bn for electricity delivered to them….…..(Read More)

Nigeria leads as Africa moves to add 1.2m bpd crude oil refining capacity –

Africa is set to add 1.2 million barrels per day (bpd) of new refining capacity by 2030, marking one of the fastest downstream expansions globally, according to the newly released 2025 OPEC World Oil Outlook. This medium-term growth – led by landmark projects in Nigeria, Angola and Uganda – signals a turning point for the continent’s energy sovereignty and investment attractiveness. At the forefront of Africa’s refining expansion is Nigeria’s 650,000-bpd Dangote Refinery, which began operations in 2024 and is already reshaping regional fuel trade dynamics……..…(Read More)

Fed Chair Jerome Powell signals possible rate cut, sending stocks sharply higher –

 Federal Reserve Chairman Jerome Powell signaled a possible cut in interest rates in the near future, sending stocks soaring on Friday. Speaking to a gathering of economists and central bankers in Jackson Hole, Wyo., Powell said current economic conditions, including a marked slowdown in job growth, suggest a downward adjustment in the Fed’s benchmark rate may be warranted. Powell stopped short of promising a rate cut at the next Fed meeting in September, saying he and his colleagues will continue to monitor incoming data on both inflation and job growth…………(Read More)