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Economy

NASD OTC Exchange Sees 0.41% Loss

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NASD OTC stock exchange

By Adedapo Adesanya

There was a 0.41 per cent loss at the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, August 8 amid slight selling pressure.

This brought down the market capitalisation by N8.16 billion to N2.002 trillion from the N2.010 trillion quoted at the previous session, and the NASD Unlisted Security Index (NSI) recorded a slide of 5.95 points to end the day at 1,461.35 points as against 1,467.30 points it recorded at the previous session.

During the session, Central Securities Clearing System (CSCS) Plc lost N1.56 to end at N18.10 per share compared to the previous session’s N19.66 per share, and Aradel Holdings Plc declined by N1.65 to finish at N4,607.45 per unit compared to the N4,609.10 per unit it traded a day earlier.

The volume of securities traded at the bourse yesterday increased broadly by 1,700 per cent to 3.3 million units from the 181,012 units recorded on Wednesday.

Equally, the value of stocks traded by investors at the session rose by 66.9 per cent to N802.5 million from the N480.8 million recorded at the midweek session.

These trades were carried out in 48 deals, in contrast to the 33 deals executed in the preceding trading day, representing a 45.5 per cent increase.

When the market closed for the session, Aradel Holdings Plc remained the most traded stock by value on a year-to-date basis with the sale of 9.0 million units for N28.8 billion. The second spot was taken by Afriland Properties Plc with a turnover of 230.5 million units valued at N4.1 billion, and the third position was occupied by CSCS Plc with a turnover of 105.4 million units worth N2.5 billion.

Also, Capital Hotels Plc retained its spot as the most active stock by volume on a year-to-date basis with 259.6 million valued at N1.3 billion, followed by Afriland Properties Plc with 230.5 million units sold for N4.1 billion, and Industrial and General Insurance (IGI) Plc with 218.8 million units worth N46.1 million.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Economy

Trump’s Tariffs: US Faults Nigeria’s Import Ban on Beef, Poultry, Juice, Others

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Orange Fruit Juice

By Adedapo Adesanya

The United States has lamented Nigeria’s import ban on 25 different products, particularly in agriculture, pharmaceuticals, beverages, and consumer goods, as it rationalised the recent decision to slap a 14 per cent retaliatory tariff.

The United States Trade Representative, in a statement on Monday posted on its X platform, said Nigeria’s restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit US market access and reduce export opportunities.

“These policies create significant trade barriers that lead to lost revenue for US businesses looking to expand in the Nigerian market,” it wrote.

Last week, the administration of President Donald Trump imposed various tariffs ranging between 10 per cent and 65 per cent on different countries across the world, including Nigeria which got a 14 per cent tariff on its exports to the US.

In response, the Nigerian Minister of Trade, Industry, and Investment, Mrs Jumoke Oduwole, said Nigeria would take a pragmatic approach and will boost non-oil exports to deal with the drawbacks from the US move.

She also said Nigeria will be willing to negotiate and will be speaking with the World Trade Organisation (WTO) on the way forward.

On his part, the Minister of Finance, Mr Wale Edun, said that the Economic Management Team (EMT) would meet to assess the likely impact of the 14 per cent tariff on goods exported from Nigeria to the US.

He said the EMT will afterwards, make recommendations to cushion its impact on the nation’s economy.

The Minister also said the federal government will boost non-revenue as a means of cushioning the adverse effects to trade tariffs imposed on countries by President Trump.

Mr Edun also assured that while the adverse effect on Nigeria will be through an oil price plunge, the government is intensifying efforts to ramp up oil production and boost non-oil revenues.

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Economy

Nigeria, Japan Launch Naira-based Venture Fund for Startups

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flow of naira notes

By Adedapo Adesanya

Nigeria and Japan have launched a strategic venture capital initiative that will channel Naira-denominated investments into high-growth startups, shielding them from currency risks while unlocking access to long-term concessional financing.

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, met with officials from the Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA) to finalise the framework of the fund, which has now received formal approval from the Japanese government.

Speaking on the development, Mr Edun welcomed the development, calling it a timely response to Nigeria’s youthful demography.

He said this fund provides critical financial backing across the capital structure—from equity to debt—and is aligned with President Bola Tinubu’s Renewed Hope Agenda for inclusive economic growth, he stated.

On his part, NSIA CEO, Mr Aminu Umar-Sadiq confirmed that the initiative satisfies two key conditions set by the Minister: mitigating foreign exchange volatility by investing in Naira and securing first-loss or grant capital to de-risk private investment.

“With JICA’s support, this is not just a proposed solution—it’s a fully approved, ready-to-launch initiative,” Mr Umar-Sadiq said.

Adding his input, JICA Director General, Mr Takao Shimokawa announced that diplomatic agreements would be signed within weeks, with full implementation expected thereafter.

By combining international concessional financing with domestic currency stability, the fund marks a new model for venture capital in Africa, aimed squarely at empowering the next generation of Nigerian innovators.

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Economy

Nigeria’s Economic Management Team to Assess Impact of Trump’s Tariffs

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One-Trillion Dollar Economy

By Adedapo Adesanya

The Minister of Finance, Mr Wale Edun, has said the country’s Economic Management Team (EMT) would meet to assess the likely impact of the 14 per cent tariff on goods exported from Nigeria to the United States.

Mr Edun made the disclosure while speaking at an event organised by the Ministry of Finance Incorporated (MOFI) on Monday.

The Trump administration recently imposed various tariffs ranging between 10 per cent and 65 per cent on different countries across the world, including Nigeria which got a 14 per cent tariff on its exports to the United States.

He said the EMT will afterwards make recommendations to cushion its impact on the nation’s economy, noting that the federal government will boost non-revenue as a means of cushioning the adverse effects to trade tariffs imposed on countries by President Trump.

Mr Edun stated that while the adverse effect on Nigeria will result in an oil price plunge, the government is intensifying efforts to ramp up oil production and boost non-oil revenues.

The Finance Minister noted that the US, which is at the centre of the tariff war had on April 2, announced that it would exempt mineral exports, including oil.

“Therefore, it’s the price effect, the oil price effect that may affect Nigeria. And it is the job and responsibility of the economic management team of President Bola Ahmed Tinubu, amongst others, to look at the various scenarios that might play out.

“There’s global uncertainty at a huge level, so nobody knows exactly what will happen- the announcement that has been made. We’re not sure what will be delayed, what will be reversed, or what will be implemented.

“So, it is not an announcement that the budget is being reviewed. It’s an announcement that it is our responsibility to look at the various scenarios and options and advise government accordingly.”

Mr Edun also highlighted plans to look at budget adjustment, expenditure prioritisation as well as innovative non-debt financing strategies.

According to him, Nigeria had recorded a trade surplus in the last three years (2022-2024) with the US.

“Nigeria-US Trade has been in surplus in the last 3 years (2022-2024). Nigeria’s exports to the US were N1.8 trillion, N2.6 trillion and N5.5 trillion in 2022-2024, respectively.

“Fortunately, oil and mineral exports accounted for 92 per cent. Implying oil and minerals exports amounted to N5.08 trillion in value while non-oil was just N0.44 trillion.

“Consequently, the tariff effect on exports is negligible if we sustain our oil and minerals export volume.

“The adverse effect on Nigeria will be through oil price plunge. We are intensifying efforts to ramp up crude oil production to curtail any price effect

“We are also focusing on non-oil revenue mobilisation by FIRS and Customs, budget adjustment and prioritisation where possible, and also and innovative non-debt financing strategies,” the Minister said.

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