Think Thursday - Nigeria Poised for Infrastructure-Led Growth as Global Energy, Trade and Policy Signals Shape Markets
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Market Overview
Good evening and welcome to today’s market kick-off. This edition highlights Nigeria’s accelerating infrastructure and industrial expansion, improving macro outlook, and growing depth in long-term financing. Globally, steady monetary policy, shifting energy trade flows, and new geopolitical alignments set the tone for cautious but opportunity-rich markets.
Nigerian News & Market Update
Lafarge strengthens production with plant expansion:
Lafarge Africa is expanding its Sagamu and Ashaka cement plants with energy-efficient technology to boost capacity, improve supply, and support Nigeria’s infrastructure growth. - Punch
MTN to Acquire Controlling Stake in IHS Holdings, Eyes Full Ownership:
MTN is in advanced talks to buy the remaining stake in IHS Towers to regain full control of its network infrastructure, potentially reshaping its strategy and impacting its share price. - Dmarketforces
CardinalStone raises ₦12.63billion in Series 1 infrastructure financing:
CardinalStone has raised ₦12.63billion in the first tranche of its Infrastructure Debt Fund, signalling rising investor appetite for long-term infrastructure financing in Nigeria. - Punch
With Projected GDP of $334billlion in 2026, IMF Tips Nigeria as Africa’s Third-largest Economy Ahead of Algeria:
The IMF projects Nigeria’s GDP will reach $334billlion in 2026, making it Africa’s third-largest economy as reforms boost growth and improve FX and oil output. - ThisDay
Nigeria Sectoral Indices Performance
The table below shows that the NGX 30 and NSE ASI both rose over 1% daily, with year-to-date gains around 8–9%, reflecting general positive market momentum. Oil & Gas (+4.68% daily, 23.14% YTD) and Consumer Goods (+2.14% daily, 12.46% YTD) led gains, while Insurance lagged (-0.31% daily, -4.40% MTD).
The Premium Board Index and Lotus Index outperformed, posting daily gains of 2.80% and 0.89%, with strong YTD returns of 15.02% and 14.63%, respectively.
Fixed Income (FGN Bonds)
Global News & Market Update
Equinor signs gas deal with Eneco in the Netherlands:
Equinor has signed a five-year deal to supply up to 0.5 billion cubic metres of gas annually to Dutch energy firm Eneco starting February 2026. - Reuters
ECB keeps rates steady, shrugs off inflation dip:
The European Central Bank (ECB) held interest rates steady at 2% despite inflation dipping below target, citing economic resilience but warning of ongoing geopolitical and trade uncertainty. - Reuters
India exports first fuel to Europe since ban on Russian crude-derived products:
India exported its first jet fuel shipment to Europe since the EU ban on Russian crude-derived products, with Reliance offloading part of a 390,000-barrel cargo in Italy. - Reuters
India to sign trade deal with United States in March:
India and the U.S. plan to sign a formal trade deal in March, with India lowering tariffs on U.S. goods and committing to buy $500 billion of American products over five years. - Reuters
Russian oil sellers cut prices in China to attract demand as India wavers:
Russian oil sellers are offering record discounts to Chinese buyers as India reduces its imports following the U.S.-India trade deal halting Russian crude purchases. - Reuters
Ghana’s inflation falls to 3.8% in January:
Ghana’s year-on-year inflation fell to 3.8% in January 2026, the lowest since 1999 and the 13th consecutive monthly decline, driven by easing food and non-food prices and overall macroeconomic stability. Regional variations were significant, with the North East Region at 11.2% and the Savannah Region at –2.6%. - allAfrica
Indices, Commodities & Currencies
The table below depicts that the Global markets are mostly down, with major U.S. indices falling: NASDAQ 100 is the weakest at –1.74% and S&P 500 down 1.45%.Energy prices are lower, with WTI and Brent crude down over 3%, while natural gas also dropped nearly 3%. In commodities, softs and metals are mixed orange juice and silver are sharply lower, while grains like corn, soybeans, and oats are up, and the USD strengthened slightly against major currencies.
Fixed Income (USA Bonds)
Events
Conclusion
Looking ahead, Nigerian equities and fixed income markets may find support from infrastructure spending, corporate expansion, and reform-driven growth expectations.
However, investors should remain alert to FX dynamics, policy execution risks, and global energy price movements. Globally, stable rates and reconfigured trade and energy routes could sustain selective risk-taking, with volatility driven by geopolitics and cross-border policy shifts.
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