Money Monday- Regulatory Tightening at Home, Tariff Pressures Abroad: Markets Navigate Crosscurrents
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Market Overview
Good morning and welcome to today’s market outlook, where Nigeria’s corporate landscape reflects leadership transitions, regulatory adjustments, and fresh funding support for housing through Gateway Mortgage Bank. Investor sentiment is also influenced by the Nigerian Exchange Group investigation into Zichis Agro-Allied and PenCom’s revised pension disclosure framework, signaling tighter oversight.
Globally, renewed trade tensions following policy moves by Donald Trump and energy market developments from Saudi Aramco set the tone for volatility across equities, commodities, and bonds.
Nigerian News & Market Update
Bank secures ₦2.2billion MOFI boost for housing:
Gateway Mortgage Bank has secured ₦2.2billion from the Ministry of Finance Incorporated Real Estate Investment Fund to provide affordable mortgages at 9.75% interest for up to 20 years, helping address Nigeria’s housing deficit. - Punch
Industrial & Medical Gases appoints acting managing director:
Industrial & Medical Gases Plc appointed Abayomi Oke as Acting Managing Director following the resignation of former MD Ayodeji Oseni. - PremiumTimes
NGX opens investigation into Zichis Agro-Allied after shares surged nine times in one month:
Nigerian Exchange Group suspended trading and opened an investigation into Zichis Agro-Allied Industries Plc after its shares surged about 859% in under five weeks, raising concerns over possible price manipulation. - PremiumTimes
Conoil appoints new acting company secretary:
Conoil Plc announced the resignation of Company Secretary David Lanre-Leke and appointed Bolaji Owolabi as Acting Company Secretary pending a substantive appointment. - TheSun
TAJBank earns A1 credit ratings by Agusto, Datapro:
TAJBank Limited earned A1 credit ratings from Agusto & Co and Datapro, reflecting strong balance sheet quality, risk management, and operational resilience in 2025. - DailyTrust
PenCom changes price disclosure rule:
National Pension Commission has directed pension fund administrators to stop publishing daily unit prices and instead disclose six-month returns based on a three-year rolling average, sparking transparency concerns in the pension industry. - TheNation
Nigeria Sectoral Indices Performance
The table below shows that the NGX sectoral indices closed broadly positive, led by strong gains in Insurance (+3.42%), Banking (+1.44%), and Industrial Goods (+1.30%), while Oil & Gas dipped slightly (-0.20%). Month-to-date and year-to-date performance remains robust across sectors, with Oil & Gas (+52.42% YTD), Lotus (+45.06%), and Premium Board (+41.19%) leading returns. The broader market remains firmly bullish, as the NGX 30 and NSE ASI post solid double-digit gains across MTD, QTD, and YTD periods.
Fixed Income (FGN Bonds)
Global News & Market Update
Trump pivots to new 10% global tariff, new probes after Supreme Court setback:
Donald Trump imposed a temporary 10% global tariff for 150 days under the Trade Act after the Supreme Court of the United States struck down his earlier duties, while ordering new probes under trade and national-security laws that could pave the way for tougher tariffs later. - Reuters
Saudi Aramco sells first Jafurah condensate cargoes to US firms, India:
Saudi Aramco has sold its first condensate cargoes from the $100 billion Jafurah shale gas project to U.S. majors Chevron and Exxon Mobil, as well as India’s Indian Oil Corp, marking a key step as it prepares to begin exports from what is expected to be the world’s largest shale gas project outside the United States. - Reuters
Enel launches share buyback of up to 1 billion euros ahead of business plan:
Enel SpA announced a share buyback of up to €1 billion, running from February 23 to July 31, ahead of unveiling its new three-year business plan. - Reuters
Mozambique set to receive $6 billion in World Bank financing over five years:
World Bank Group plans to provide Mozambique with about $6 billion in mostly concessional financing over five years to support public investment and economic recovery. - Reuters
Bank of Israel keeps rates steady amid fears of Iran confrontation:
Bank of Israel kept its benchmark interest rate at 4%, citing renewed geopolitical risks linked to potential confrontation with Iran despite easing inflation and a strong shekel in Israel. - Reuters
Indian telecom firm Bharti Airtel to invest $2.2 billion to expand digital lending:
Bharti Airtel plans to invest $2.2 billion in its financial arm Airtel Money to expand digital lending after securing an NBFC licence from Reserve Bank of India. - Reuters
Indices, Commodities & Currencies
The table below depicts that the U.S. equities closed lower across major indices, with the NASDAQ and Russell 2000 leading declines, while European markets were mixed and volatility edged higher. Energy prices strengthened as WTI, Brent, and natural gas posted gains, precious metals advanced (gold and silver up), while copper and platinum declined. Agricultural commodities were mixed with gains in corn and soybeans, currencies showed a firm USD and EUR, while JPY and AUD weakened slightly.
Fixed Income (USA Bonds)
Conclusion
In Nigeria, sustained bullish momentum across sectoral indices may persist, but regulatory scrutiny and transparency concerns could introduce selective volatility, particularly in speculative counters. Global trade uncertainty and energy price strength could drive commodity-linked and Oil & Gas plays, while bond markets remain sensitive to geopolitical and policy shifts. Investors should expect a more sentiment-driven market in the near term, favoring fundamentally strong stocks, defensive sectors, and disciplined risk management amid both domestic reforms and global macro headwinds.
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