Economic, Business and Financial Synoptic Outlook in Nigeria

MARKETS

Domestic Bourse Sustained Positive Momentum with NGXASI up 2.03% Though NSI Fell 0.13%; BDC Rate Appreciates to N1,535/US$1 – The total traded volume advanced by 18.25% to close at 940.80m, valued at N30.63bn in 28,358 deals. FIDELITYBK closed with the highest volume, with N111.27m units traded, while MTNN closed with the highest value, amounting to N3.59bn.

Dangote Cement H1 2025 Result: Improved Operational Efficiency Nudges Up PAT by 174.06% – Dangote Cement Plc’s performance in H11 2025 reflects operational resilience and strategic cost discipline. The cement giant reported a +17.70% year-on-year (Y-o-Y) increase in revenue, reaching N2.07trn, driven by sustained market demand and improved pricing strategies across its regional footprint.

Transcorp Plc Declares N65.17bn PAT in H1 2025 Unaudited Results; (SP: N52.55k) – Transcorp Group’s H1 2025 revenue grew by 59% from N175.4 billion in 2024 to N279.7 billion, while profit before tax grew by 21%, to close at N85.7 billion compared to N70.9 billion recorded in H1 2024.

H1 2025 Unaudited Report: Unilever Nigeria Delivers 54% Revenue Growth and 225% Rise in Profit After Tax – Unilever Nigeria Plc, one of Nigeria’s longest-serving manufacturing companies, has announced its unaudited interim report for the six-month period ended 30 June 2025, showcasing a robust performance across key financial metrics and reaffirming its commitment to sustainable growth.

Nigerian Exchange Crossed N87trn as Dangote, GTCO, MTN Rally – Up by about N1.74 trillion, the Nigerian Exchange (NGX) market capitalisation crossed N87 trillion, hitting a new all-time high as bellwether stocks, including GTCO, MTN Nigeria, and Dangote Cement, rallied.

Asian stocks steady as investors brace for tariff deadline and Fed – Asian stocks rose modestly on Wednesday, with investors cautious after trade talks between the U.S. and China ended without any substantive agreement and ahead of the Federal Reserve’s policy announcement.

ECONOMY

The CFG Advisory Nigeria 2025 H2 Review and Outlook: Can Nigeria Transition from Economic Stability to Sustainable Growth? – The 2025 H2 Economic Review released by CFG Advisory Nigeria underscores a pivotal moment in Nigeria’s economic trajectory. While acknowledging that the federal government’s 24-month economic reform program has delivered macroeconomic stability.

Niger Gets $144m AfDB Loan to Enhance Energy Access – The Board of Directors of the African Development Bank Group has approved a loan of $144.27 million to Niger for the first phase of a program that will reform energy sector laws and address the country’s critical power shortage.

US, China tariff truce holds for now but US says Trump has final say – U.S. and Chinese officials agreed to seek an extension of their 90-day tariff truce on Tuesday, following two days of what both sides described as constructive talks in Stockholm aimed at defusing an escalating trade war between the world’s two biggest economies that threatens global growth.

Nigeria’s historic tax reform: A game-changer with missing pieces – On June 26, 2025, President Bola Ahmed Tinubu made history by signing into law four comprehensive tax reform bills that promise to transform Nigeria’s revenue generation landscape fundamentally. The Nigeria Tax Act (NTA), the Nigeria Tax Administration Act (NTAA), the Nigeria Revenue Service Act (NRSA), and the Joint Revenue Board Act (JRBA), collectively referred to as “the Acts,” represent the most significant overhaul of Nigeria’s tax system in decades.

Global hunger declines despite spikes in Africa, says UN report – New State of Food Security and Nutrition in the World report has revealed that an estimated 8.2 per cent of the global population, or about 673 million people, experienced hunger in 2024, down from 8.5 per cent in 2023 and 8.7 per cent in 2022.

South Africa Awaits US Feedback on Trade Deal as Deadline Looms – South Africa is awaiting a response to its trade proposals from US President Donald Trump’s administration and isn’t assured of reaching a deal by Aug. 1 that would avoid 30% tariffs being imposed on its imports.

IMF upgrades Nigeria’s economic growth forecast to 3.4% – The International Monetary Fund, IMF, has upgraded its forecast for Nigeria’s economic growth to 3.4 per cent in 2025.

Powerful quake in Russia’s Far East causes tsunami, Japan and Hawaii order evacuations – A magnitude 8.8 earthquake struck off Russia’s Far Eastern Kamchatka Peninsula on Wednesday, damaging buildings and generating a tsunami of up to 4 metres (13 feet) that prompted warnings and evacuations stretching across the Pacific Ocean.

REGULATORS

CAC to Delist 100,000 Dormant Companies – The Corporate Affairs Commission (CAC) has announced plans to strike off approximately 100,000 inactive and non-compliant companies from its register.

BUSINESS

Femi Otedola’s Memoir “Making It Big” Now Available to Preorder – On Monday, August 18, 2025, Nigerian business mogul and billionaire Femi Otedola will share his entrepreneurial journey with the world through his highly anticipated memoir, “Making It Big: Lessons from a Life in Business”, at a formal launch.

Euromoney Names Access Bank Ghana and Gambia Best Banks 2025 – Access Bank continues to affirm its leadership across West Africa as Access Bank Ghana and Access Bank Gambia have both been named Best Bank 2025 in their respective countries by Euromoney.

Senate Committee Gives NNPCL 21 Days To Explain ₦210tn Financial Discrepancies – The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) 21 days to provide detailed explanations on financial discrepancies totaling ₦210 trillion even as its Group Chief Executive Officer (GCEO), Bayo Ojulari, pleaded for more time to respond adequately.

NDLEA auctions drug traffickers’ properties in Lagos, Kano, Ondo, Ogun – The National Drug Law Enforcement Agency (NDLEA), yesterday, publicly auctioned forfeited houses, which were either acquired through proceeds of drug trafficking or used as an instrumentality for committing the crime.

TECHNOLOGY

Nigeria–Belgium Digital Literacy Collaboration: Building a Pan-African Model for Inclusive Digital Skills – Nigeria aims for an ambitious 95% digital literacy rate by 2030. The question is no longer whether digital skills are essential; it is about how we bridge the widening gap between aspiration and implementation. In an era defined by artificial intelligence, automation, and global interconnectedness, digital literacy is no longer considered a luxury.

Tesla Signs $4.3 Billion Battery Supply Contract With LG Energy – Tesla Inc. has signed a $4.3 billion agreement to source lithium iron phosphate, or LFP, batteries from LG Energy Solution Ltd., a person familiar with the matter said, in the second tie-up for the EV maker in South Korea this month.

Russia Builds a New Web Around Kremlin’s Handpicked Super App – Russian President Vladimir Putin is closer than ever to getting the internet he wants. In July the Kremlin announced it had chosen VK Co., a government-controlled social networking company, to be Russia’s national messaging service.

FINANCE

Nigerian students can now pay UK, US tuition directly with naira cards – Nigerian aspiring to study abroad have received a major boost. They can now pay tuition fees for UK and US institutions directly using Naira debit or credit cards. This development, facilitated through the Central Bank of Nigeria’s (CBN) Form A portal, marks a significant shift.

NMA issues 21-day notice of total, indefinite strike – The Nigerian Medical Association (NMA) has issued a 21-day notice of total and indefinite strike over the alleged failure of the federal government to address its long-standing demands.

Duniya Healthcare is digitising medicine supply chains to reach Zambia’s most remote clinics – In a remote part of Zambia, a heavily pregnant 17-year-old named Chipego arrived at a Catholic-run clinic in Monze District, south of Lusaka, with a high fever and unmistakable signs of malaria.

Nurses shun FG talks, begins warning strike today – Nurses, under the umbrella of the National Association of Nigeria Nurses and Midwives–Federal Health Institutions Sector, have insisted that their planned seven-day warning strike will begin on Wednesday.

MSMEs

Providus Bank Pledges Continuous Support for SMEs in Nigeria – The Deputy Managing Director (DMD) of Providus Bank, Mr. Kingsley Aigbokhaevbo, has restated the bank’s commitment to continue to sustain its Small and Medium Enterprise (SME) Programme for the foreseeable future as part of its efforts to boost entrepreneurship in the country.

Source: Vanguard | Bloomberg | Guardian | MarketForces | Proshare | Reuters | THISDAY | Punch | TechCabal | Technext | ChannelsTV