Money Monday- Policy Shifts, Capital Raising & Energy Developments Shape Nigeria’s Market Outlook Amid Global Oil and Inflation Uncertainty
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Market Overview
Welcome to today’s market update, where Nigeria’s financial landscape is shaped by key policy changes, major capital raising activities, and strategic corporate investments across banking, manufacturing, and energy sectors. Domestically, the appointment of a new finance minister, bank recapitalisation, and the early resumption of production at the Bonga oil facility highlight strengthening economic activity and capital market momentum. Globally, developments around the Strait of Hormuz, upcoming mining IPO activity, and shifting inflation trends continue to influence energy prices, commodity markets, and investor sentiment.
Nigerian News & Market Update
Tinubu swears in Oyedele as minister of state for finance:
President Bola Ahmed Tinubu has sworn in Taiwo Oyedele as Nigeria’s Minister of State for Finance following his Senate confirmation. - Punch
Coronation Merchant Bank completes ₦50billion recapitalisation exercise:
Coronation Merchant Bank has successfully completed a ₦50 billion recapitalisation through a rights issue and private placement, strengthening its capital base to meet Central Bank of Nigeria requirements and support future growth. - Punch
Shell resumes production at Bonga FPSO:
Shell Nigeria Exploration and Production Company has resumed production at the Bonga FPSO after completing scheduled maintenance 11 days ahead of schedule, restoring operations at Nigeria’s major deepwater oil facility. - TheNation
VFD Group Receives SEC’s Approval for ₦50.6billion Rights Allotment:
VFD Group Plc has received approval from the Securities and Exchange Commission Nigeria for its ₦50.07 billion rights issue, which was fully subscribed by investors and will soon be listed for trading on the Nigerian Exchange Limited. - Thisday
Nigeria Sectoral Indices Performance
The table below shows that the Nigerian equities closed broadly positive, with the Industrial Goods Index (+4.52%) and Banking Index (+2.20%) leading daily gains, reflecting strong investor demand in heavyweights and financial stocks. Most sectors remain firmly positive year-to-date, particularly Oil & Gas (+68.78%), Industrial Goods (+47.94%), and Consumer Goods (+33.64%), highlighting strong momentum across cyclical sectors.However, the Insurance Index (-0.43% daily, -2.02% WTD) remains the only weak spot, showing continued short-term profit-taking despite still holding a positive YTD return.
Fixed Income (FGN Bonds)
Global News & Market Update
Iran May Allow Oil Tankers Through Strait Of Hormuz, But There’s A China Catch:
Iran may allow limited oil tanker passage through the Strait of Hormuz only if the oil is traded in Chinese yuan, raising global energy market concerns. - NDTVWorld
Coal India unit Central Mine Planning seeks $1.33 billion valuation, IPO opens Friday:
Central Mine Planning & Design Institute Ltd, a subsidiary of Coal India Ltd, has launched an IPO priced at 163–172 rupees per share, targeting a $1.33 billion valuation, with subscriptions open from March 20–24, 2026. - Reuters
TotalEnergies plans to start phase two output at Azerbaijan’s Absheron gas field in 2029:
TotalEnergies plans to start phase two production at Azerbaijan’s Absheron gas field on September 1, 2029, aiming for peak outputs of 12.7 million cubic metres of gas and 35,000 barrels of condensate per day. - Reuters
Canada’s annual inflation rate eases to 1.8% in February ahead of expected energy shock:
Canada’s annual inflation eased to 1.8% in February, with core price pressures stable, but rising oil prices from the Iran war may drive future inflation. - Reuters
Indices, Commodities & Currencies
The table below depicts that the Major U.S. indices like the S&P 500 (+1.08%) and Nasdaq 100 (+1.25%) are showing solid gains, while the VIX fell sharply (-6.13%), indicating reduced market volatility. WTI (-2.82%), Brent (-1.18%), and natural gas (-3.26%) fell, alongside soybean-related commodities and corn, signaling softening commodity demand. Gold (-1.17%) and silver (-0.74%) are down, while platinum (+2.80%) is up; the USD weakened slightly, while EUR (+0.67%) and NZD (+1.26%) gained.
Fixed Income (USA Bonds)
Event
Conclusion
Looking ahead, investors will closely monitor Nigeria’s fiscal policy direction under the new finance leadership, capital market liquidity following major rights issues, and developments in the oil sector as production stabilises. Globally, geopolitical tensions in energy routes and evolving inflation trends could keep commodity prices volatile, which may continue to influence Nigeria’s oil revenues and broader market sentiment in the coming weeks.
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