RFA Breakfast Paper - October 26, 2026

FG Targets Single-Digit Inflation by 2027

Finance Minister Taiwo Oyedele told the 32nd Nigerian Economic Summit in Abuja on Monday that the Federal Government aims to bring inflation to low single digits before the end of 2027, to create room for single-digit interest rates. Headline inflation eased to 14.63% in September from 15.39% in August, a fourth consecutive monthly decline, while GDP grew 4.43% in Q2. Oyedele also unveiled a draft Economic Policy Framework intended to anchor budgets and policy across administrations; it is open for public consultation until 27 November before going to the Federal Executive Council. No specific measures or timeline accompany the target, so its credibility rests on monetary and fiscal follow-through. For investors, a sustained disinflation path would open room for monetary easing and lower naira yields, while greater policy consistency would reduce the risk premium on Nigerian assets.

Anthropic IPO Filing Lifts Nasdaq 0.82%

U.S. stocks rose on Monday after Anthropic publicly filed to list on Nasdaq under the ticker ANT, reviving the AI chip trade. The S&P 500 gained 0.70%, the Nasdaq Composite 0.82% and the Dow 0.28%. The Philadelphia Semiconductor Index jumped 2.82%; technology (+1.69%) and industrials (+1.42%) led, while communication services fell 1.57%. Softer crude eased inflation concerns, and the 10-year Treasury yield was unchanged at 5.00%. The FOMC meets on 27–28 October and is widely expected to hold, though futures price better than 70% odds of a December hike.

NGX Hits Record High as ASI Gains 1.65%

The NGX All-Share Index rose 1.65% to a record 251,290.54 on Monday, adding ₦2.64trn to market capitalisation, which closed at a record ₦163.16trn. Dangote Cement hit its 10% daily limit at ₦1,222.10, driving a 5.37% gain in the Industrial Index. Financials added momentum: the Banking Index rose 2.34% on buying in First HoldCo, Access Holdings and GTCO, and the NGX 30 gained 1.76%. Consumer goods slipped 0.06% on losses in Champion Breweries and PZ Cussons. Volume fell 46.13% to 329.5m shares while deals rose 30.14%, so gains were concentrated in large caps. The new high leaves the market exposed to profit-taking.