US markets plunge over Greenland tariff threats
US stock markets suffered their worst day since October on Tuesday, with the Dow Jones Industrial Average falling 871 points, the S&P 500 dropping 2.06 per cent, and the Nasdaq sliding 2.39 per cent. The sell-off followed President Donald Trump’s renewed threats to impose tariffs on eight European countries unless the United States is allowed to purchase Greenland.
Trump announced Saturday that 10 per cent tariffs on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain would take effect February 1, rising to 25 per cent by June 1 if no deal is reached. Gold prices touched record highs, and US Treasuries were sold off as investors fled to safe havens. The losses pushed both the S&P 500 and Nasdaq into negative territory for 2026, down 0.7 per cent and 1.2 per cent, respectively.
Pentagon cuts 200 NATO positions amid Europe pullback
The Pentagon plans to reduce the number of US personnel stationed within several key NATO command centres by approximately 200 positions, part of the Trump administration’s effort to scale back Washington’s military investment in Europe. The cuts will affect bodies including the UK-based NATO Intelligence Fusion Centre, the Allied Special Operations Forces Command in Brussels, and Portugal-based STRIKFORNATO, which oversees maritime operations.
About 400 US personnel currently staff the affected NATO entities, meaning the reduction will cut American presence by roughly half. Rather than recalling servicemembers immediately, the US will decline to backfill positions as personnel rotate out. The move comes as the alliance navigates heightened tensions over Trump’s Greenland push and follows earlier Pentagon guidance that Europe should assume majority responsibility for the continent’s conventional defence by 2027.
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Federal government doubles January bond borrowing to N900bn
Nigeria’s Debt Management Office announced plans to raise N900 billion from its January 2026 bond auction, doubling the N450 billion targeted in January 2025. The offering will feature three reopened Federal Government bonds, with N600 billion coming from ten-year instruments, compared to N200 billion in ten-year paper offered last January.
The government plans to raise N300 billion from the 18.50 per cent February 2031 bond, N400 billion from the 19.00 per cent February 2034 bond, and N200 billion from the 22.60 per cent January 2035 bond. The 22.60 per cent coupon on the 2035 bond represents a notable step-up from rates on comparable tenors a year earlier, reflecting tighter monetary conditions and higher borrowing costs. Finance Minister Wale Edun said the government plans to rely more on domestic resources and reduce dependence on borrowing going forward.
Nigerian brewers earn N1.54trn in nine months
Major listed brewers in Nigeria generated combined revenue of N1.54 trillion from beer and non-alcoholic drinks in the first nine months of 2025, according to unaudited financial statements from Nigerian Breweries, International Breweries, and Champion Breweries. Nigerian Breweries accounted for the bulk of sales with N1.05 trillion in revenue, up from N710.87 billion in the same period of 2024.
International Breweries generated N472.57 billion, up from N343.45 billion, while Champion Breweries recorded N21.44 billion, compared to N14.02 billion in 2024. All three companies returned to profitability after posting losses in the previous year. AB InBev’s acquisition of International Breweries has led to significant investment in new production facilities to expand capacity and meet rising demand.
Opral Benson’s family says she’s safe in Liberia after missing person alert
Family and associates confirmed that 90-year-old Lagos socialite Opral Benson is safe in Liberia following a public missing person notice that circulated over the weekend. The African Refugees Foundation, where Benson serves as president, issued a statement clarifying that she travelled voluntarily to Liberia with her daughter, Precious and is hale and hearty.
Sources indicated the missing notice was issued by a stepdaughter who may not have been informed of the trip, creating a communication gap within the family. Benson, who holds the traditional title of Iya Oge of Lagos and serves as Liberia’s honorary consul in Lagos, was married to former Information Minister T.O.S. Benson from 1962 until his death. The foundation urged the public to disregard false reports and refrain from spreading unverified information.
