CIAPS advocates for African economic gains amid global trade rifts
Post AMUGE
May 7, 2025
Joy Agwunobi L:R, Magnus Onyeibe, policy analyst and development strategist, Vimbai Mutinhiri, a media personality and Anthony Kila, director of CIAPS at the Trump 2.0 and Africa: Dangers and Prospects event held at the Commonwealth Institute of Advanced and Professional Studies (CIAPS) auditorium, Lagos African nations have been advised to rethink their international approach and […]
Oil gains nealy 3% on dip-buying as surplus concerns cap upside
Post AMUGEMay 6, 2025
Onome Amuge Oil prices staged a recovery on Tuesday, buoyed by technical buying and bargain hunters stepping in after a sharp decline triggered by OPEC+’s decision to accelerate output increases. However, underlying concerns about a potential supply glut continued to cast a shadow over the market. Brent crude futures climbed $1.67, or 2.8 per cent […]
Bank earnings cool as top lenders post N1.56trn PBT in Q1 2025
Post AMUGEMay 5, 2025
High interest rate drives earnings growth Aggregate PBT shrinks 0.64% year-on-year Onome Amuge Nigeria’s banking sector delivered a seemingly strong performance in the first quarter of 2025, marked by significant increases in interest income for several lenders and currency-driven gains for a select few. However, beneath the headline figures, there are indications the period of […]
Foreign investors boost portfolio 282% in equities market in Q1 2025
Post AMUGEMay 5, 2025
Bamidele Famoofo Foreign portfolio investors raised their stake in Nigeria’s equities market by 282 per cent, suggesting greater confidence in Africa’s largest economy’s investment climate in first quarter of 2025. Figures obtained from the Nigerian Exchange Group showed that foreign investors continue to trail behind domestic investors, accounting for 36.5 per cent of turnover at […]
Gold retreats further on renewed optimism over U.S. trade talks
Post AMUGEMay 1, 2025
Onome Amuge Gold prices extended their sharp decline for a third consecutive session on Thursday, as the precious metal’s safe-haven allure waned amid growing optimism surrounding potential trade deal negotiations between the United States and its key trading partners. Spot gold fell by 1.5 per cent to $3,240.30 per ounce, marking its lowest level since […]
AfDB president, Adesina lays out 25-year plan to jolt Nigeria from economic slumber
Post AMUGEApril 30, 2025
Onome Amuge Nigeria must urgently break free from its entrenched cycle of underdevelopment and embark on a radical transformation to emerge as a leading global economy by 2050, according to Akinwumi Adesina, president of the African Development Bank (AfDB). Adesina, in a keynote address titled “Reimagining Nigeria by 2050,” delivered recently at the 20th Anniversary […]
Investor appetite for gold ETFs lifts Q1 demand to new highs
Post AMUGEApril 30, 2025
Onome Amuge Gold demand reached its highest first-quarter level since 2016, buoyed by a sharp resurgence in investment via exchange-traded funds (ETFs), according to the latest data by the World Gold Council. This is as total gold demand, including over-the-counter (OTC) investment, edged up one per cent year-on-year to 1,206 tonnes in the first three […]
NCC moves to review 22-year old Communications Act amid industry evolution
Post AMUGEApril 30, 2025
Joy Agwunobi The Nigerian Communications Commission (NCC) has initiated the process to review the Nigerian Communications Act (NCA) of 2003, in a move aimed at aligning the regulatory framework with the current realities of digital innovation and Nigeria’s long-term digital transformation goals. Speaking at a colloquium held recently in Lagos, Aminu Maida, the executive vice […]
MTN, Livestock lead losers’ table as market cap sheds N116.2bn
Post AMUGEApril 29, 2025
Onome Amuge The Nigerian stock market experienced a slight downturn on Tuesday, reversing gains made earlier in the week as the All-Share Index (ASI) shed 0.17 per cent to close at 105,931.18 points. This pullback resulted in a corresponding 0.17 per cent decrease in market capitalisation, which settled at N66.58 trillion, erasing N116.2 billion from […]
U.S. identifies corruption as Key obstacle to investment in Nigeria
Post AMUGEApril 29, 2025
Onome Amuge The United States has voiced concerns regarding corruption and a lack of transparency in Nigeria’s tender processes, casting doubt on the efficiency of the country’s judicial system in tackling illicit practices. These concerns were highlighted in the latest 2025 National Trade Estimate Report on Foreign Trade Barriers, released by the Office of the […]