Market Updates

FIRS clarifies new tax laws, debunks levy misconceptions The Federal Inland Revenue Service has stated that Nigeria’s newly enacted tax laws are designed to strengthen economic competitiveness, attract investments, and improve long-term fiscal stability. The agency also clarified that the much-debated four per cent development levy on imported goods is... Read More →

Eterna launches N21.5bn Rights Issue Eterna Plc, one of Nigeria’s leading integrated energy companies, has finalised arrangements for a rights issue of 978,108,485 ordinary shares at N22.00 per share, expected to raise approximately N21.52 bn. The capital raise is designed to strengthen the company’s balance sheet and support strategic expansion... Read More →

REA plans N500bn capital-market raise The Rural Electrification Agency says it will go to the capital market to raise N500bn, backed by a new renewable asset management company designed to hold and leverage federal solar investments worth $200m to $300m. The Managing Director of the agency, Abba Aliyu, disclosed this... Read More →

CBN holds benchmark rate steady in disinflation phase The Central Bank of Nigeria has again held the Monetary Policy Rate at 27 per cent, marking the fourth pause this year as it prioritises stability amid a slowing but still elevated inflation cycle. With disinflation gaining ground, firmer reserves and a... Read More →

FX reforms ignite confidence as inflows hit $20.98bn One of the most visible signs of renewed confidence in Nigeria’s economy is the transformation of the foreign exchange market, where reforms driven by the Central Bank of Nigeria have attracted foreign capital inflows worth $20.98bn in the first 10 months of... Read More →

FG begins $100m equity funding for oil firms The Federal Government, through its Nigerian Content Development and Monitoring Board, on Tuesday signed a memorandum of understanding with the Bank of Industry to manage the $100m allotted to the newly established equity investment scheme. At the ongoing Practical Nigerian Content Forum,... Read More →