Money Monday-Nigeria & Global Markets Brief: Energy Shifts, Capital Flows, and Policy Signals Shape Near-Term Outlook
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Market Overview
Good evening and welcome to today’s market update. Today’s newsletter highlights key developments across Nigeria’s energy, insurance, and capital markets, alongside pivotal global moves in commodities, monetary policy, and industrial investment.
Locally, refinery operations, upstream discoveries, and renewed foreign investment commitments set the tone for sector-specific opportunities and risks.
Globally, gold-sector consolidation, oil market discipline, and mixed central bank signals are shaping risk sentiment and capital allocation.
Nigerian News & Market Update
Dangote switches to lighter crude amid cracker downtime:
Dangote Refinery is switching to lighter crude to keep petrol and diesel production steady while its key RFCC unit remains offline, limiting overall output until a possible restart in February 2026. - Punch
AXA Mansard unveils digital tool to simplify vehicle inspections:
AXA Mansard has launched a nationwide digital motor insurance inspection tool that lets customers submit vehicle photos via smartphone for faster policy and claims processing. - Punch
NNPC Commends Chevron on Awodi-07 Discovery:
NNPC has praised Chevron for the successful Awodi-07 offshore Niger Delta well, which confirmed significant hydrocarbons and supports plans to boost joint venture production. - Dmarketforces
Shell pledges investment in Nigeria, hails Tinubu’s leadership:
Shell says it plans to invest up to $20billion more in Nigeria driven by Tinubu’s leadership focused on major deepwater projects like Bonga Southwest, backed by targeted incentives to reach final investment decision soon. - TheSun
Nigeria Sectoral Indices Performance
The table below depicts that the NGX Short-term showed Mixed performance on the day and week, with modest gains in Banking, Consumer Goods, Lotus, and Premium Board, while Insurance and NGX 30 lagged. Medium-term (MTD/QTD) showed strong broad-based rally, led by Oil & Gas (+13.69%), Lotus (+10.34%), Premium Board (+9.85%), and Insurance (+9.31%). Year-to-date all indices are positive, showing a solid market recovery, with Oil & Gas and Insurance among the top YTD performers.
Fixed Income (FGN Bonds)
Global News & Market Update
China’s Zijin Gold to buy Canadian miner Allied Gold for about $4 billion:
China’s Zijin Gold is buying Canada’s Allied Gold for about C$5.5billion ($4.0billion) in cash as rising gold prices drive global mining consolidation. - Reuters
Hong Kong agrees deal with Shanghai Gold Exchange for gold clearing system, warehousing:
Hong Kong has partnered with the Shanghai Gold Exchange to launch a central gold clearing system and expand storage capacity, aiming to boost its role as a regional gold hub amid record-high prices. - Reuters
Pakistan central bank holds key rate at 10.5%, defying expectations:
Pakistan’s central bank kept its policy rate unchanged at 10.5% to maintain price stability despite expectations of a cut, citing stronger economic activity and inflation risks. - Reuters
Libya signs 25-year oil deal with TotalEnergies and ConocoPhillips:
Libya signed a 25-year oil development deal with TotalEnergies and ConocoPhillips worth over $20billlion to boost output capacity toward 850,000 bpd. - Reuters
South Korea’s Hyundai Steel plans $2.9 billion capital increase for US steel plant:
Hyundai Steel is raising $2.9billion in equity (with matching debt funding) to finance a $5.8billion U.S. steel plant in Louisiana with Posco and Hyundai Motor affiliates. - Reuters
OPEC+ likely to maintain oil production pause for March as prices climb:
OPEC+ is expected to maintain its March oil production pause amid rising prices and reduced output from Kazakhstan. - Reuters
Indices, Commodities & Currencies
The table below depicts that the U.S. indices mostly gained, with the S&P 500 +0.53% and Nasdaq +0.47%, while the Nikkei 225 fell −0.52% and the Russell 2000 edged down −0.13%. Precious metals surged Gold +2.35%, Silver +11.38%, Platinum +4.07%, and Copper +2.25% while energy prices softened, with WTI −0.42% and Brent −0.29%. Currencies & Grains: The USD softened slightly versus EUR and JPY, while grains showed mixed performance Soybeans down −0.43%, Corn −0.55%, Wheat flat, and Oats +2.41%.
Fixed Income (USA Bonds)
Event
Conclusion
Looking ahead, Nigerian investors should monitor energy sector execution, policy support for oil and gas investments, and tech-driven efficiency gains in financial services.
Globally, oil price direction, gold market dynamics, and interest rate decisions may influence emerging market flows and risk appetite. Overall, markets may remain selectively bullish, with opportunities favoring energy, commodities, and fundamentally strong names amid lingering macro uncertainty.
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