CAPITAL MARKET
Nigerian stocks pull back as profit-taking gains momentum after a strong rally
The Nigerian stock market is currently navigating a high-stakes “consolidation phase” after an unprecedented rally that saw the NGX All-Share Index (ASI) cross the 200,000-point threshold. The major Nigerian equity market now shows signs of a “healthy pullback” or consolidation following a sharp rise in the past few weeks. The ASI is hovering around 199,014.02, slightly below its mid-March peak of 204,928.11. —-Nairametrics
FG, NGX rally for women participation in capital market
The federal government and the Nigerian Exchange Group (NGX) have intensified calls for increased participation of women in Nigeria’s capital market, warning that the exclusion of women remains a constraint on economic growth and the country’s $1 trillion economy target. Speaking during a closing gong ceremony in Lagos on Tuesday, the Minister of Women Affairs, Imaan Sulaiman-Ibrahim, said the structure of the market must reflect inclusiveness, stressing that women remainunderrepresented in formal finance despite their economic contributions. —-TheSun
Equities Gain N1.086trn As Banking, Large-cap Stocks Lift Market
The Nigerian equities market yesterday closed on a positive note on Tuesday by advancing by N1.086 trillion, driven by renewed buying interest in select large-cap and banking stocks. The All Share Index (ASI) gained by 1,691.86 points, representing a growth of 0.85 per cent to close at 200,705.88 points. Also, market capitalisation gained N1.086 trillion to close at N128.836 trillion. —-Leadership
UBA, NPF Microfinance Bank, Lafarge top stock pick this week
Nigerian stocks pulled off a 1.4 per cent gain this week, even as the market saw limited trading sessions on account of public holidays on Thursday and Friday, marking this year’s Eid-el-Fitr celebration. Increased interest in industrial goods stocks drove the surge. As the first quarter of the year gradually winds down, investors’ focus will be on the release of the audited financial reports of big lenders and potential announcement of dividends, with the deadline for filing barely a week away. —-PremiumTimes
Rebuilding The Backbone: Why Nigeria Must Strengthen Its Commodities And Futures Exchange
As Nigeria intensifies efforts to diversify its economy beyond oil, the underdevelopment of its commodities and futures exchange continues to pose a significant gap. Despite notable progress by key market operators, persistent structural challenges are still limiting the sector’s full potential and its broader impact on economic growth, Nigeria’s ambition to diversify its economy beyond oil has repeatedly brought agriculture, solid minerals, and manufacturing into focus. Yet, one critical piece of market infrastructure remains underdeveloped: a vibrant and efficient commodities and futures exchange system. —-NewTelegraph
European markets set for higher open as U.S. seeks end to Iran conflict
LONDON — European stocks are expected to open higher on Wednesday as the U.S. showed further signs of efforts to de-escalate the war with Iran. The U.K.’s FTSE 100 is seen opening 0.7% higher, with Germany’s DAXup 1.16%, France’s CAC 40 up 0.9% and Italy’s FTSE MIB 1.3% higher, according to data from IG. Global markets are being buoyed by comments from U.S. President Donald Trump suggesting talks to end hostilities with Iran are ongoing. Tehran, however, continues to deny any direct negotiations are taking place. —-CNBC
BUSINESS AND ECONOMY
New tax law redefines practice, sets higher bar – CITN
The Chartered Institute of Taxation of Nigeria has said the enactment of the new tax reform laws has significantly raised the importance of certified tax professionals in the country’s fiscal system. The president of the Institute, Innocent Ohagwa, stated this at the opening of the March edition of the 2026 Legal Practitioners’ Conversion Training Programme held virtually on Tuesday. —- Punch
Global trade moves 500 billion tonnes virtual water – Report
Global trade transports an estimated 500 billion tonnes of virtual water every year, the hidden water embedded in goods such as food, textiles and industrial products, indicating the growing link between international commerce and water sustainability, according to a new World Bank report. The report explains that virtual water refers to the large volumes of freshwater used during production processes but not visible in the final product. —-Punch
FG Fast-tracks $2bn Fibre Project, Sets Aside $6.1m For Experts
The federal government of Nigeria is set to expend about $6.1 million on consultancy services as it pushes forward with a $2 billion nationwide fibre-optic expansion aimed at strengthening broadband access. According to a World Bank procurement report released on March 17, 2026. The advisory engagement is part of efforts to ensure proper structuring, implementation and execution of the ambitious digital infrastructure project, which is expected to significantly improve internet penetration and connectivity across the country. —- Leadership
Inside the £746m UK-Nigeria deal to develop Lagos ports
President Bola Tinubu signed a £746 million (N1.4 billion) financing agreement with the United Kingdom government during his state visit last week for the redevelopment of the Lagos Port Complex (Apapa Quays) and the TinCan Island Port Complex, two of Nigeria’s primary yet outdated trading seaports. —-BusinessDay
OIL AND GAS
Nigeria needs $100bn power sector investments – FG
The Federal Government has disclosed that Nigeria requires over $100bn in combined government and private sector investments across the power sector value chain to achieve a reliable, round-the-clock electricity supply. Speaking at a press conference in Abuja on Thursday to inform the public on developments and achievements in the power sector under the current administration, the Minister of Power, Adebayo Adelabu, acknowledged the recent drop in electricity supply nationwide, apologising to Nigerians while promising swift corrective measures. —-Punch
Dangote: UK’s £746m Investment Shows Confidence In Nigeria’s Economy
The Chairman of the Dangote Group, Alhaji Aliko Dangote, has said the recent £746 million investment announced by President Bola Tinubu during his 2-day state visit to the United Kingdom (UK) demonstrated the British authorities’ confidence in the Nigerian economy. Dangote, who said this while responding to questions after a meeting with the President in his Lagos home on Monday, also said the investment would further encourage other countries to invest in Nigeria. —-NewTelegraph
M’East Crisis: Nigerians’ll Continue To Pay More For Fuel As Oil Jumps Above $100
There appears to be no end in sight to the higher energy costs Nigerians are currently facing due in no small measure to the crisis in the Middle East after the price of Brent crude oil moved back above $100 a barrel, after plunging on Monday, as conflicting accounts of potential talks between US and Iran emerged. Yesterday in Asia, oil rose by 4% to $103.94 (£77.57) a barrel. —-NewTelegraph
TECHNOLOGY
Meta deploys AI on Facebook, Instagram to curb scams, boost support
Meta has intensified its push into artificial intelligence, rolling out a new generation of AI-powered tools across Facebook and Instagram aimed at transforming user support and tightening content enforcement. The move showed a major shift in how technology platforms are deploying AI not just for engagement but as core infrastructure for safety, moderation and real-time user assistance. —-TheSun
Emerging Tech Roles Power Nigeria’s Entry Into Global AI Economy
As artificial intelligence (AI) continues to reshape global industries, Nigeria is quietly witnessing the rise of a new workforce, one that operates behind the scenes of machine learning systems yet plays a critical role in powering the digital economy. From data annotators and prompt engineers to AI ethicists and model trainers, emerging tech roles are redefining employment pathways, particularly for young Nigerians navigating a competitive labour market. —-Leadership
OpenAI’s Sora was the creepiest app on your phone — now it’s shutting down
OpenAI announced on Tuesday that it is shutting down Sora, a TikTok-like social app that launched six months ago. OpenAI did not give a reason for the shut down, nor did it share information about when it will officially be discontinued. When Sora first opened up as an invite-only social network, it seemed like everyone was clamoring for an invite. —-TechCrunch
POLITICS
Plateau adjusts LG election timetable, shifts party primaries
The Plateau State Independent Electoral Commission has approved adjustments to the timetable and schedule of activities for the conduct of the 2026 Local Government Elections in the state, extending the period for political parties to conduct their primaries. The electoral body made the disclosure on Thursday in a statement signed by its Secretary, Pam Davou. —-Punch
Senate Squares Up with NNPCL over N210trn Oil Revenue
Nigeria’s Senate has ignited a political firestorm over N210 trillion in disputed oil revenues linked to the Nigerian National Petroleum Company Limited (NNPCL). With threats of arrest warrants against former and current officials, the confrontation signals a defining test of accountability, legislative authority and transparency in the management of the nation’s vast petroleum wealth. —-ThisDay
INEC Holds Cyber Hygiene Workshop Ahead Of 2027 Elections
The Independent National Electoral Commission (INEC) has commenced a two-day Cyber Hygiene Awareness Technical Workshop aimed at strengthening the security of its digital infrastructure ahead of Nigeria’s 2027 General Elections. The workshop, organised under the leadership of INEC chairman, Joash Amupitan, brings together ICT personnel and other key staff of the Commission to deepen their understanding of cyber threats and cybersecurity best practices. —-Leadership
OTHERS
Prospect of US-Iran talks puts Netanyahu under pressure
With mixed signals over US plans for fresh talks with Iran, the exchange of fire between Iran and Israel – the Middle East’s two arch-enemies – continues. Iran fired several missiles at targets in northern and southern Israel overnight, after Israel carried out “dozens” of air strikes inside Iran on Monday, hitting command centres of the Islamic Revolutionary Guards Corp (IRGC) and Intelligence Ministry in Tehran, Israel’s army said, as well as weapons stores and air defences.
—-BBC
Mohamed Salah announces Liverpool exit after nine historic years
Mohamed Salah has announced he will leave Liverpool at the end of the season, bringing an end to a remarkable nine-year career at Anfield. The 33-year-old Egyptian international confirmed the decision via a video message shared on his social media accounts. —-BusinessDay
FG to roll out HIV prevention injection as 52,000 doses arrive
The Federal Government has announced plans to roll out a new long-acting HIV prevention injection, Lenacapavir, as part of efforts to accelerate progress toward ending HIV/AIDS as a public health threat by 2030. The Minister of State for Health and Social Welfare, Iziaq Salako, said the initiative reflects the government’s commitment to strengthening Nigeria’s HIV response through innovation, expanded prevention services, and increased domestic financing. —-Punch