Broadcasting
Nigeria Week Ahead: CBN decision, ECB and USD in focus
By Lukman Otunuga, Senior Market Analyst, FXTM
This will be a week defined by high-impact events and corporate earnings from the largest companies in the world.
Nigeria’s central bank is expected to hold interest rates on Tuesday.
This decision is likely based on still stubbornly high inflation despite price pressures easing in recent months. Inflation slowed to 22.2% year-on-year in June, its third consecutive decline. A CBN rate cut could be on the cards in H2, but this will be on the back of persistently falling price pressures.
Looking at the NGX All Share Index, it has gained almost 10% month-to-date – pushing 2025 gains to nearly 30%. This means the NGX is currently outperforming the S&P500 and Nasdaq100 who have gained roughly 7% and 11% this year respectively. The Naira spot has held its ground against the USD this year after depreciating almost 70% in 2024.
Outside of Nigeria, earnings season is in full swing with US banks reporting strong results last week. Now the spotlight shines on big tech with Alphabet and Tesla reporting on Wednesday.
Alphabet shares gained 14% in Q2 amid strong AI product demand and growth in the cloud business. However, bulls may need a fresh catalyst to push Alphabet’s year-to-date gains out of the red. Tesla is down almost 20% year-to-date and could extend losses if its latest quarterly results are below market expectations
On the data front, key releases from Europe, the United Kingdom, Japan, and the United States may influence global sentiment.
But the main event for FX markets could be the European Central Bank decision on Thursday. No changes are expected to interest rates, but any clues offered on future moves could spark fresh volatility. Traders are currently pricing in a less than 50% probability that the ECB cuts rates by September
Speaking of FX, the dollar has weakened across the board with the DXY tumbling toward 97.70. This weakness could be based on mounting pressure from Trump to cut US rates and caution ahead of the tariff deadline on August 1st.
Note: Nigeria faces a 14% reciprocal tariff on its goods imported into the U.S, effective from August 1st.
Nigerian Institute of Public Relations (NIPR) has announced the postponement of its maiden annual Public Relations, Reputation, Ideas, Concepts and Excellence (PRICE) Awards and Prizes to January 25, 2026.
NIPR
The event, earlier scheduled for December 7, 2025, was deferred to accommodate stakeholders whose observance of Christmas festivities had commenced earlier than expected.
Chairman of the Organising Committee, Mr. Israel Opayemi, urged stakeholders to note the new date and prepare to participate in the ceremony.
He said the awards would motivate professionals, practitioners and scholars, while enhancing Nigeria’s global competitiveness in the public relations ecosystem and strengthening brand equity for all stakeholders.
Opayemi reaffirmed the Committee’s commitment to delivering a best-in-class award administration and ceremony, describing the PRICE Awards as a credible and enduring platform to identify, celebrate and elevate outstanding individuals, campaigns and organisations shaping the public relations landscape across sectors.
The development of the PRICE Awards peaked in September 2025 when the NIPR President and Chairman, Council, Dr. Ike Neliaku, inaugurated a 12-man committee to organise the maiden edition. The inauguration followed the Council’s adoption of the report of a technical team tasked with establishing the awards.
Netflix has announced a landmark agreement to acquire Warner Bros. and HBO Max in a transaction valued at $82.7 billion, a move analysts say will reshape the global entertainment industry.
Netflix
The deal, which includes Warner Bros.’ film and television studios, HBO, HBO Max, and Warner Bros. Games, was unanimously approved by the boards of both companies. Under the terms, Warner Bros. Discovery (WBD) shareholders will receive $23.25 in cash and $4.50 in Netflix shares for each WBD share.
Netflix co-CEO Ted Sarandos described the acquisition as “a defining moment” for the streaming giant, noting that the company intends to maintain Warner Bros.’ current operations while expanding its production capacity.
“By combining Warner Bros.’ incredible library of shows and movies with Netflix’s culture-defining titles, we can give audiences more of what they love and help define the next century of storytelling,” Sarandos said.
The transaction is expected to close within 12 to 18 months, following the planned spin-off of WBD’s TV networks division, Discovery Global, in 2026. Netflix projects annual cost savings of $2–3 billion by the third year after completion and expects the deal to be accretive to earnings per share by year two.
Industry groups, including the Directors Guild of America and Cinema United, have raised concerns about the impact on movie theaters, while regulators are expected to scrutinize the deal over antitrust issues. Netflix has pledged to continue supporting theatrical releases, with Warner Bros.’ cinema commitments running through 2029.
Warner Bros. Discovery CEO David Zaslav hailed the agreement, saying it “combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love.”
Observers note that the acquisition comes 15 years after former Time Warner chief Jeff Bewkes dismissed Netflix as “the Albanian army,” underscoring the dramatic shift in the entertainment landscape.
A major shake‑up rocks viewers and subscribers of DSTV/GOTV as many channels are set to shut down and be removed on January 1, 2026.
The trigger for the upcoming shut‑down is a breakdown in negotiations between the owners of multiple global channels and the pay‑TV operator.
As of December 2025, the deal between Warner Bros. Discovery (WBD) and DStv/GOtv has expired and the two parties have not reached a renewal agreement.
Without a new carriage/distribution agreement, the channels belonging to WBD risk being pulled off the DStv/GOtv line‑up.
This is the most significant content cutback the service has seen in years.
The affected channels are:
Discovery Channel
TLC
Cartoonito
Cartoon Network
CNN International
Food Network
The Travel Channel
TNT
Investigation Discovery
Real Time
HGTV
Discovery Family
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