It’s been an eventful week in the world of NGX, and you can count on Follow the Money with Ugodre to take you inside the numbers and headlines driving Nigeria’s financial markets this week.
The show started off with Ugo Dre highlighting Zenith Bank’s half-year results by noting that the bank posted a pre-tax profit of N625 billion and an after-tax profit of N532 billion, which was driven by strong interest income from loans and government securities, with earnings hitting N2.5 trillion this year.
He went further to explain that Seplat Energy has announced its plan to pay shareholders a total of US$1 billion in dividends between 2026 and 2030, which came to about US$200 million each year as the company is also considering increasing its stake in a joint venture with NNPC to 30%, while setting a target to boost production to 200,000 barrels of oil equivalent per day by 2030.
Global policy moves also made their way into the conversation for the first time in years, as the US Federal Reserve cut rates by 25 basis points, and the impact could be huge for markets like Nigeria, as lower US rates make emerging markets more attractive, and investors are already taking notice.
If you’re an investor, a market watcher, or you’re just curious about where smart money is going, then this latest episode of Follow the Money with Ugodre is for you.
