Wasiu Alli

Lagos

Correspondent, Special Projects and Reports at BusinessDay Nigeria

Journalist||Ex-Student Leader|| Family lover|| Researcher || Communication||Writer||Educator|| Politics enthusiast|Serial Volunteer|| SDGs|| Views, mine.

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Articles

Rising insecurity threatens Nigeria’s economic reform gains

3 days ago | businessday.ng | Wasiu Alli

President Bola Tinubu’s market-friendly reforms are beginning to restore investor confidence and stabilise Africa’s top oil producer after years of policy missteps, but a surge in insecurity is threatening to undermine the progress. Since taking office in May 2023, Tinubu has scrapped costly fuel subsidies, unified the country’s multiple exchange rates, and taken steps to attract foreign capital.
CRR hike risks undermining Nigeria’s $1trn GDP goal

4 days ago | businessday.ng | Wasiu Alli

… banks lost N840bn in one year under new CRR regime…analysts say liquidity choke threatens credit growth, recapitalisation goalsAs Nigeria pushes towards its ambition of becoming a $1 trillion economy by 2030, analysts are raising red flags over conflicting monetary policies that could derail the vision before it takes off.
Multinationals eye Nigeria expansion on naira stability

4 days ago | businessday.ng | Wasiu Alli

Home > PREMIUM > Multinationals eye Nigeria expansion on naira stability Share Multinationals are planning fresh investments in Nigeria after a wave of exits in the last two years, as the nation’s currency stabilises.
What rising Middle-East tensions mean for naira

5 days ago | businessday.ng | Wasiu Alli

…Oil price seen climbing to $90-$100p/b…Revenue to rise in boost for budgetThe United States airstrikes on Iran’s nuclear facilities are expected to trigger a global oil price rally, offering short-term support for the naira, amid mounting risks for inflation, trade disruptions and global market volatility. Brent crude is expected to climb more than $90 a barrel after President Donald Trump launched coordinated attacks on three of Iran’s nuclear sites over the weekend.
Naira ends week with gains despite slowing FX reserves

1 week ago | businessday.ng | Wasiu Alli

The Nigerian Naira has shown some recovery, ending the week on a positive note even though gross reserves declined for the fourth consecutive week, decreasing by $219.56 million w/w to $37.71 billion as of June 20, data obtained from the Central Bank of Nigeria (CBN) show.
Nigeria’s equity valuations signal pockets of optimism

1 week ago | businessday.ng | Wasiu Alli

… but warning signs persistA comparative analysis of Nigerian publicly listed firms reveals a sharp divergence in valuations, with sectors such as cement, infrastructure, and agro-processing commanding premium multiples, while others like oil and gas and consumer staples languish under compressed enterprise value-to-EBITDA (EV/EBITDA) ratios.
BUA Foods set for 85% profit jump as price cuts drive demand, analysts say

1 week ago | businessday.ng | Wasiu Alli

BUA Foods Plc is poised for a sharp earnings expansion in 2025, as strategic price cuts and expanded capacity across product segments spark higher volumes and margin gains, according to analysts at CardinalStone. Earnings per share are projected to rise 1.8 times in full-year 2025, with revenue climbing to N1.77 trillion ($1.2 billion), up 15.9 percent from N1.53 trillion in 2024.
United Capital debuts CFA-Franc mutual funds in Francophone West Africa

1 week ago | businessday.ng | Wasiu Alli

Nigeria’s United Capital Plc has expanded its footprint into Francophone West Africa with the launch of United Capital Asset Management West Africa Ltd. (UCAMWAL), introducing two CFA franc-denominated mutual funds in Abidjan, Côte d’Ivoire. The two new funds, the UCAMWAL Bond Fund and the UCAMWAL Diversified Fund, target individual and institutional investors across the eight-member West African Economic and Monetary Union (WAEMU) bloc.
FX reforms drive Nigerian banks’ net foreign assets to 10-yr high

1 week ago | businessday.ng | Wasiu Alli

Nigerian banks have regained their footing in the foreign exchange market, with net foreign assets (NFA) rising to the highest level in over a decade, thanks to sweeping currency reforms that have increased market liquidity and eased funding pressures.
FX reforms drive Nigerian banks’ net foreign assets to 10-yr high

1 week ago | businessday.ng | Wasiu Alli

Home > Economy > FX reforms drive Nigerian banks’ net foreign assets to 10-yr high Share Nigerian banks have regained their footing in the foreign exchange market, with net foreign assets (NFA) rising to the highest level in over a decade, thanks to sweeping currency reforms that have increased market liquidity and eased funding pressures.