Economy
Crude Prices Drop 1% on Possibility of Global Oil Supply Boost
By Adedapo Adesanya
Crude prices eased about 1 per cent on Friday as the US pushed for a Russia-Ukraine peace deal that could boost global oil supplies, while uncertainty over US interest rates curbed investors’ risk appetite.
Brent futures fell by 82 cents or 1.3 per cent to settle at $62.56 per barrel, and the US West Texas Intermediate (WTI) crude futures slid by 94 cents or 1.6 per cent to settle at $58.06 a barrel.
The US pushed for a peace plan between Ukraine and Russia to end the three-year war, while sanctions on Russian oil producers Rosneft and Lukoil were set to take effect on Friday.
Ukrainian President Volodymyr Zelenskiy warned on Friday that Ukraine risked losing its dignity and freedom, or the backing of President Donald Trump, over a peace plan that the US said Ukraine should accept within a week.
Russian President Vladimir Putin said on Friday that US proposals for peace in Ukraine could be the basis of a resolution of the conflict but that if Ukraine turned down the plan then Russian forces would advance further.
Market analysts noted that a peace deal could allow Russia to export more fuel. Others warned that that Ukraine has repeatedly dismissed Russia’s demands as unacceptable, noting that the market is also becoming skeptical that the latest restrictions on Russian oil companies Rosneft and Lukoil will be effective.
A stronger US Dollar also weighed on oil prices as the greenback hit a six-month high versus a basket of other currencies, making Dollar-priced oil more expensive for many global buyers.
On US interest rates, several policymakers remained skeptical about the December move. Dallas Federal Reserve President Lorie Logan called for leaving the policy rate on hold “for a time” while the central bank assesses how much of a brake the current level of borrowing costs is putting on the economy.
Boston Federal Reserve President Susan Collins said policy was in the right place, suggesting she remains skeptical of the need to cut rates again at next month’s meeting while New York Federal Reserve President John Williams said the central bank can still cut interest rates “in the near term” without putting its inflation goal at risk.
Lower interest rates could boost economic growth and oil demand.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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