Global Market News

Asia shares rise, dollar underpinned by elevated bond yields"” Reuters

Asian stocks edged up on Tuesday, though moves were subdued in a holiday-curtailed week, while the greenback held near a two-year high helped by elevated U.S. Treasury yields as investors prepared for fewer Federal Reserve rate cuts in 2025. Click here for more.

Oil prices up in thin pre-Christmas trade"”Reuters

Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer. Click here for more.

Macroeconomic News

FG gives banks, telcos six-month ultimatum on N250bn USSD debt"” Punch

The Central Bank of Nigeria and the Nigerian Communications Commission have issued a final directive to Deposit Money Banks and Mobile Network Operators to resolve the protracted N250bn Unstructured Supplementary Service Data debt dispute. Click here for more.

P'Harcourt refinery resumes petrol loading"” Punch

After one week of inactivity, the Port Harcourt Refining Company has resumed the trucking out of Premium Motor Spirit otherwise called petrol. Click here for more.

Govt budgets N1trillion for 468 roads construction, rehabilitation"”Punch

The Federal Government through the Ministry of Works plans to rehabilitate and construct a total of 468 roads and highways across the country in the 2025 budget proposal. Click here for more.

Oil marketers defy IPMAN's directive, maintain petrol prices above N1,000/litre"” The Sun

Despite a directive from the Independent Petroleum Marketers Association of Nigeria (IPMAN) to reduce petrol prices to N935 per litre, many fuel marketers have continued to sell petrol above N1,000 per litre, leaving consumers frustrated dashing earlier hopes of a possible slump in the price of the essential commodity. Click here for more.

Company News

FCMB shareholders approve N340bn capital raise"” DailyTrust

The approved measures include increasing the authorised additional capital raise from N150 billion to N340 billion, which empowers the group to explore a diverse mix of financial instruments, such as ordinary and preference shares, convertible and non-convertible securities, bonds, and loans. Click here for more.

Presco to complete new mill in 2025"”Punch

Presco Plc, an oil palm producer in Nigeria, has announced plans to complete its new mill at Ato Estate by 2025 as part of its expansion strategy. Click here for more.

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