Research & Analysis
Institutional-grade research on Nigerian equities, frontier markets, currencies and global macro.
A growing economy can still leave households poorer, public services weaker and opportunity concentrated among a narrow share of the population. GDP matters, but treating it as a complete measure of economic success can create a deeply misleading picture of how well a country is actually doing.
ET&A Research · 19 August 2026
Dangote Refinery is often discussed as a solution to Nigeria’s dependence on imported fuel. Its larger significance may be elsewhere: changing where margins are earned, where foreign exchange is spent, how fuel moves around the country and whether Nigeria can finally capture more value from its own hydrocarbons.
ET&A Research · 17 August 2026
ASML occupies one of the strongest competitive positions in global industry. Its machines are indispensable to advanced semiconductor manufacturing, yet its exposure to chip investment cycles, geopolitics and rapidly changing technology makes the company considerably harder to value than the word “monopoly” might suggest.
ET&A Research · 17 August 2026
As generative AI reshapes how people search for information, Alphabet faces a delicate challenge: integrating AI deeply enough to defend Google’s dominance without undermining the advertising economics that made Search one of the most profitable businesses in the world.
ET&A Research · 17 August 2026
The Democratic Republic of Congo sits at the centre of the global copper and cobalt supply chains. But possessing the minerals the world needs is very different from capturing the economic value they create.
ET&A Research · 17 August 2026
UK inflation, Federal Reserve minutes, major US retail earnings and fresh economic data from China will give investors plenty to assess in the week ahead.
ET&A Research · 16 August 2026
Coca-Cola has spent much of the post-pandemic period demonstrating exceptional pricing power, raising prices while preserving demand and expanding revenue. But as inflation normalises and consumers become more price-sensitive, the next phase of the investment case may depend less on charging more and more on selling more.
ET&A Research · 16 August 2026
After years of spending on chips, data centres and software, there are early signs that artificial intelligence is beginning to influence economic activity beyond the technology sector. The UK’s latest growth figures offer an interesting glimpse of what that transition could look like.
ET&A Research · 13 August 2026
Nigeria does not simply have a shortage of work. It has a shortage of productive work. Looking beyond the headline unemployment rate reveals an economy dominated by informal employment, self-employment, underemployment and jobs that often generate too little income to materially improve living standards.
ET&A Research · 12 August 2026
