Nigeria in 1min: Economic, Business and Financial Captions

NASD Market CAP Rises 1.42% Despite Sharp Drop in Trading Activity – The NASD Securities Index (NSI) increased 1.42% to close at 3,398.64 points from 3,351.19 points recorded the previous week. Market capitalisation also increased by 1.42% to N1.99trn, reflecting renewed investor interest in select securities. Source: Proshare

 

MARKETS

What to Expect from the Markets this Week

We expect sustained upbeat in the markets as investors continue to rebalance their portfolios for interim dividend stocks and high-yield assets. Source Proshare

 

NASD Market CAP Rises 1.42% Despite Sharp Drop in Trading Activity – The NASD Securities Index (NSI) increased 1.42% to close at 3,398.64 points from 3,351.19 points recorded the previous week. Market capitalisation also increased by 1.42% to N1.99trn, reflecting renewed investor interest in select securities. Source: Proshare

 

ECONOMY

BRICS Set to Condemn Trade-Distorting Tariffs in Swipe at Trump – BRICS leaders are poised to adopt a position at odds with President Donald Trump on trade tariffs, conflict in the Middle East and global arms spending, even as they shy away from any direct challenge to the US.

Source: Bloomberg

 

Nigeria Averts Economic Crisis, But the Pressures Persist – LBS EBS July 2025 – The global economy has shifted from exaggerated fears of market volatility and uncertainty to the irrational exuberance of momentum traders and speculators, who are profiting by exploiting the fears of those obsessed with the status quo.

Source: Proshare

 

Benin, Togo owe Nigeria $11m in electricity debt – NERC – The Republics of Benin and Togo have failed to pay over $11m owed to Nigeria for electricity supplied in the first quarter of 2025, according to the latest report from the Nigerian Electricity Regulatory Commission.

Source: Punch

 

President Tinubu to address BRICS Summit on Nigeria’s economic reforms and investment drive – President Bola Tinubu has arrived in Brazil to participate in the 17th BRICS Summit of Heads of State and Government, where he is expected to deliver a keynote address on Nigeria’s ongoing economic reforms and its strategic repositioning for global competitiveness.

Source: Nairametrics

 

US debt is now $37tn – should we be worried? – As Donald Trump cheered the passage of his self-styled, and officially named, Big Beautiful Budget Bill through Congress this week, long-sown seeds of doubt about the scale and sustainability of US borrowing from the rest of the world sprouted anew.

Source: BBC

 

Lagos State to partner with China’s Guangdong Province on tech, blue economy – The Lagos State Government has announced plans to partner with Guangdong Province in China to advance technology and the blue economy, with the goal of improving the quality of life for residents.

Source Nairametrics

 

BUSINESS

Designing Tomorrow: Policy Blueprint and Lessons for the Future – Being a speech delivered by Mr. Taiwo Oyedele on the occasion of his 50th birthday on Tuesday, June 2nd, 2025.

Source: Proshare

 

Nations Chase US Trade Deals as Bessent Hints at Extension – Major US trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate.

Source: Bloomberg

 

OPEC+ speeds up oil output hikes, adds 548,000 bpd in August – OPEC+ agreed on Saturday to raise production by 548,000 barrels per day in August, further accelerating output increases at its first meeting since oil prices jumped – and then retreated – following Israeli and U.S. attacks on Iran.

Source: Reuters

 

Russia’s Discounted Oil No Longer a Bargain for India – The price gap that once made Russian Urals crude a go-to for Indian refiners is rapidly shrinking. Traders say the discount on Urals oil for August delivery to India has narrowed to just $1.70–$2 per barrel below dated Brent—the tightest spread since Russia invaded Ukraine in 2022.

Source: Oilprice

 

Ethiopia agrees $1 billion financing deal with World Bank – Ethiopia said on Friday that it had signed a $1 billion financing agreement with the World Bank to support its economic reform programme and boost growth.

Source: CNBC

 

Trump’s tariffs deadline is looming for Europe. Here’s where things stand – All eyes are on talks between the U.S. and the European Union, which have yet to strike a trade deal with just days to go before Washington’s tariffs come into full effect.

Source CNBC

 

TECHNOLOGY

NCC gives tower companies August deadline to improve internet quality or face fines – The Nigerian Communications Commission (NCC) has directed tower companies to make urgent improvements in service quality or face regulatory penalties. The regulator set an August end deadline for these companies to address issues affecting internet quality, such as poor power supply, equipment failures, and a lack of sufficient technical support.

Source: TechCabal

 

Flutterwave relaunches Send App in US with 20 additional licences – Flutterwave, one of Africa’s leading payments technology companies, has relaunched its flagship remittance platform, the Send App, across multiple US states following the acquisition of 20 additional Money Transmitter Licences (MTLs).

Source: Technext

 

Court upholds NIBSS’s authority to manage BVN database – The Federal High Court in Abuja has upheld the Nigeria Inter-Bank Settlement System Plc.’s (NIBSS) authority over the management of BVN. The ruling now restrains any Nigerian institution from challenging NIBSS’s authority to maintain and manage the Bank Verification Number (BVN) database.

Source: Technext

 

Despite 50% tariff hike Nigerian’s internet usage crosses all-time high in May – Nigeria’s internet usage has reached an unprecedented milestone, surging to 1,043,431.98 terabytes (TB) in May 2025, surpassing the previous record of 1,000,930.60 TB set in January, as first reported by a local news platform.

Source: Technext

 

FINANCE

Drug maker Fidson seeks fresh capital – Fidson Healthcare is putting up equity financing for consideration at its annual meeting of shareholders this month, hoping to secure a key approval for an additional capital raise of N30 billion.

Source: Premium Times

 

From $20 to $500 more banks open naira cards abroad on improved FX – More Nigerian Deposit Money Banks (DMBs) have resumed international usage of Naira cards, setting varying spending limits as the foreign exchange (FX) situation shows signs of improvement.

Source: BusinessDay