Money Monday-Nigeria’s Energy Ambitions Meet Global Oil and Trade Uncertainty
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Market Overview
Good evening and welcome to today’s market update. Today’s newsletter focuses on Nigeria’s accelerating gas-led industrial strategy, highlighted by major NNPC–Dangote agreements and a new Gas Master Plan targeting long-term energy security. Corporate actions, including Otedola’s rising stake in First HoldCo and pension digitalisation reforms, signal evolving governance and capital market dynamics. Globally, oil supply discipline, energy geopolitics, and trade policy adjustments set the tone for risk sentiment.
Nigerian News & Market Update
Dangote, NNPC Seal Strategic Gas Agreements:
Dangote’s refinery, fertiliser and cement units have expanded gas supply deals with NNPC to secure cleaner energy and support major capacity expansion under Nigeria’s Gas Master Plan. - Leadership
PenCom PFAs to launch data recapture self-service platform:
PenCom and PFAs are launching an online self-service platform that allows eligible RSA holders to remotely update and verify their pension records using NIN-linked digital and biometric checks. - TheNation
Oil production to drop by 225,00 bpd as SNEPCo begins turnaround maintenance:
Shell has begun turnaround maintenance on the Bonga Floating Production, Storage and Offloading vessel (FPSO), temporarily cutting output by up to 225,000 barrels per day to extend the facility’s lifespan and support future production. - TheSun
Otedola’s shareholding in First HoldCo rises to 18%:
Femi Otedola has increased his stake in First HoldCo to about 18%, reinforcing his position as the largest shareholder after recent share purchases and corporate transactions. - PremiumTimes
NNPC unveils gas master plan, targets 20million LPG cylinder supply by 2030:
NNPC has launched its Gas Master Plan 2026, aiming to boost industrialisation, energy security, and supply 20 million LPG cylinders by 2030 through coordinated sector development and stakeholder partnerships. - PremiumTimes
Nigeria Sectoral Indices Performance
The table below depicts that Market performance was mixed, with Oil & Gas leading gains (+2.0% daily, +16.1% YTD) and the Lotus Index also outperforming (+0.7% daily, +11.1% YTD). Banking, Insurance, and Consumer Goods recorded the sharpest short-term losses, reflecting profit-taking despite solid year-to-date returns across most sectors. Overall, YTD performance remains broadly positive, suggesting underlying market resilience even as near-term sentiment stays cautious
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Fixed Income (FGN Bonds)
Global News & Market Update
Trump launches $12 billion minerals stockpile to boost US manufacturing, counter China:
Trump is launching a $12 billion U.S. strategic minerals stockpile, Project Vault, to secure critical minerals, support manufacturing, and counter China’s market influence. - Reuters
Greek joint venture will supply US LNG to Ukraine in March:
A Greek joint venture will supply U.S. LNG to Ukraine in March to help diversify its energy sources amid the ongoing crisis. - Reuters
OPEC+ agrees in principle to keep planned pause in oil output hikes for March:
Eight OPEC+ countries have agreed in principle to maintain a planned pause in their oil output hikes for March, continuing the first-quarter arrangement. The formal meeting to confirm the decision is scheduled for 1400 GMT. - Reuters
India cuts tariffs to support local manufacturing, boost US-hit exports:
India has cut tariffs on capital goods and raw materials to boost local manufacturing, reduce dependence on China, and support exporters affected by U.S. trade policies. - Reuters
China cuts proposed tariffs in EU dairy probe, industry groups say:
China has lowered proposed tariffs on EU dairy products from a maximum of 42.7% to around 11.7% after an anti-subsidy investigation, easing trade tensions. - Reuters
Indices, Commodities & Currencies
The table below depicts that the Global equities closed broadly higher, with U.S., European, and Asian indices posting gains, while market volatility eased as the VIX declined. Energy and industrial commodities weakened, led by sharp losses in natural gas and crude, while soft commodities were mixed and precious metals traded lower. In FX markets, the U.S. dollar firmed against major peers, as euro and sterling softened, reinforcing a cautious but risk-selective global tone.
Fixed Income (USA Bonds)
Conclusion
In the near term, Nigeria’s energy and gas-focused initiatives could support industrial growth and medium-term earnings prospects for energy-linked equities, while maintenance-related oil output cuts may tighten local supply dynamics. Fixed income markets are likely to stay sensitive to policy clarity and liquidity conditions as reforms deepen. Globally, cautious oil output management, strategic minerals stockpiling, and shifting trade policies suggest continued volatility, encouraging investors to remain selective and risk-aware.
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