International Macroeconomic Futures Flat Ahead of Economic Data and Trump Administration Plans January 7, 2025 Ekemini U.S. stock index futures were mostly unchanged as markets awaited important economic data releases and insights into the incoming Trump administration’s policies. At 5:42 a.m. ET, Dow futures rose slightly…
Business Finance International Macroeconomic US Federal Reserve Regulator Resigns Citing Risk of Dispute January 7, 2025 Ekemini Michael Barr, the vice chair for supervision at the US Federal Reserve, announced his early resignation, citing the “risk of a dispute” as the country prepares for President-elect Donald Trump’s…
Business Economy Finance Local Macroeconomic Concessional Borrowing Key to Addressing Nigeria’s Debt Challenges January 7, 2025 Ekemini Nigeria’s rising debt, projected to hit N187.79 trillion by the end of 2025, has raised alarm among economists and financial experts. The surge is attributed to factors such as policy-induced…
Banking Business Finance Local Nigerian Banks Borrow Record N131.42 Trillion From CBN Amid Tight Liquidity January 7, 2025 Ekemini In 2024, Nigerian Deposit Money Banks (DMBs) and merchant banks borrowed an unprecedented N131.42 trillion from the Central Bank of Nigeria (CBN) to address liquidity challenges arising from the apex…
Business International Technology Microsoft To Invest $3 Billion In India January 7, 2025 Ekemini Microsoft CEO Satya Nadella announced a $3 billion investment aimed at enhancing the company’s artificial intelligence (AI) and Azure cloud computing infrastructure in India. This move underscores the growing significance…
Business Finance International Technology African Tech Startups Raise $2.2B Despite Challenges January 7, 2025 Ekemini African tech startups, particularly in Nigeria, Kenya, and South Africa, secured $2.2 billion in funding in 2024 through equity, debt, and grants. This represents a 25% drop from the $2.9…
Business Local Technology Nigerian Telecom Subscribers Switch Networks in Pursuit of Quality Services January 7, 2025 Ekemini Over 60,000 Nigerian telecom subscribers switched networks between October 2023 and October 2024, according to the Nigerian Communications Commission’s (NCC) Mobile Number Portability report. The data highlights growing dissatisfaction with…
Business Economy Finance investment Local Foreign inflows soar by 63.7% to $3.82bn in 9 months January 7, 2025 Ekemini Nigeria has witnessed a robust 63.7% growth in foreign inflows through international money transfer operators (IMTOs), reaching $3.82 billion in the first nine months of 2024, compared to $2.33 billion…
Business Finance investment Local Stock NGX lists Nigerian Breweries’ 20.7bn ordinary shares January 7, 2025 Ekemini Nigerian Breweries Plc has officially listed 20.7 billion newly allotted ordinary shares on the Nigerian Exchange Limited (NGX). The announcement by the company’s Legal Director and Company Secretary, Uaboi Agbebaku,…
Business Finance investment Local Mutual Funds Surge to N3.75trn as Start-up Investments Plunge January 7, 2025 Ekemini Nigerian investors have significantly increased their interest in Mutual Funds, with the total Net Asset Value (NAV) soaring by 80.3% to N3.75 trillion as of December 13, 2024, compared to…
Business Finance International investment Foreign Investors’ Participation in Nigerian Stock Market Declines January 7, 2025 Ekemini Foreign investors’ participation in the Nigerian stock market has waned, with outflows surpassing inflows by 12.2% year-to-date as of November 2024. The Nigerian Exchange Limited (NGX) data revealed a foreign…
Business investment Local Expert forecasts 63% growth in the service sector’s GDP contribution in 2025 January 6, 2025 Ekemini Dr. Alban Igwe, a logistics expert and former Vice President of the Chartered Institute of Logistics and Transport, has predicted a 63% growth in Nigeria’s service sector contribution to GDP…
Business Finance investment Local NGX launches equity-based commodity index, hints on rebalancing January 6, 2025 Ekemini The Nigerian Exchange Limited (NGX) has launched a new Equity-Based Commodity Index aimed at tracking the performance of companies in sectors such as energy, agriculture, mining, metals, and natural resources.…
Business investment Local Macroeconomic Banks’ Credit to Private Sector Hits N76 Trillion as CBN Tightens Loan-to-Deposit Ratio January 6, 2025 Ekemini In November 2024, credit to the private sector in Nigeria surged by 27.3% year-on-year, reaching N75.96 trillion, according to the Central Bank of Nigeria’s (CBN) economic report. This growth has…
Business International Technology Germany Launches Online Visa Application Platform for Nigerians and Others January 6, 2025 Ekemini Germany has unveiled a new online visa portal designed to streamline the application process for Nigerians and others seeking to work, study, or reunite with family members in the country.…
Business Finance Local Macroeconomic CBN Rules Out Further Naira Devaluation in 2025 January 6, 2025 Ekemini The Central Bank of Nigeria (CBN) has reassured the public that it will not devalue the naira further in 2025, quelling market concerns driven by a significant disparity between the…
Business investment Local Pension Pension Sector Thrives Amid 2024 Economic Challenges January 6, 2025 Ekemini The Nigerian pension sector demonstrated resilience in 2024, accumulating assets worth N21.9 trillion and expanding contributors to 10.5 million despite the country’s economic challenges, including inflation and currency depreciation. Initiatives…
Business Finance investment Rental income still low at 5% – Stakeholders January 6, 2025 Ekemini Rental income in Nigeria remains low, averaging between 3% and 5%, according to Olufemi Seyi, CEO of Casafina Development. Speaking at the unveiling of new housing units in Lagos, Seyi…
International investment Technology Microsoft plans to invest $80b in data centres January 6, 2025 Ekemini Microsoft has announced plans to allocate approximately $80 billion in fiscal 2025 to expand its data center infrastructure, primarily to support artificial intelligence (AI) development and cloud-based applications. This substantial…
Business International investment Stocks Edge Higher Amid Political and Economic Uncertainty January 6, 2025 Ekemini Global stock markets showed mixed signals on Monday as investors faced a week filled with critical economic data and lingering political uncertainty. The MSCI All-World index rose 0.1%, buoyed by…
Business Finance investment Local Foreign transactions on NGX hit N785bn in 11 months –Report January 6, 2025 Ekemini Foreign transactions on the Nigerian Exchange Limited (NGX) reached N785.28 billion in the first 11 months of 2024, a dramatic increase from N411 billion during the same period in 2023.…
Business Finance Local Macroeconomic BMI Predicts Monetary Easing in Nigeria as Inflation Drops January 6, 2025 Ekemini BMI, the research arm of Fitch Solutions, anticipates a shift toward monetary easing in Nigeria and other Sub-Saharan African (SSA) economies in 2025, driven by declining inflation and greater alignment…
Business Finance investment Local Nigerian Equities Begin 2025 with Strong Gains as Investor Optimism Rises January 6, 2025 Ekemini The Nigerian stock market started 2025 on a bullish note, with the All-Share Index (ASI) climbing 1.42% to close at 103,586.33 points. This performance reflects investor optimism fueled by strategic…
Business investment Local Stock Investor Concerns Persist Despite Stronger Market Regulations in Nigeria January 6, 2025 Ekemini Despite recent regulatory advancements, including the Investment and Securities Bill (ISB) 2024, investor confidence in Nigeria’s equities market remains fragile. The new legislation addresses gaps in market oversight, incorporates modern…
Business insurance investment Local Guinea Insurance Targets N1.75bn Premium Boost with Strategic Vision January 6, 2025 Ekemini Guinea Insurance has announced a projection of N1.75 billion in gross premium written for the first quarter of 2025. This forecast, submitted to the Nigerian Exchange Limited, also anticipates a…
Finance International Local Macroeconomic Indonesia’s 2024 Budget Deficit Lower Than Expected at 2.3% of GDP January 6, 2025 Ekemini Indonesia’s unaudited budget deficit for 2024 stood at 507.8 trillion rupiah ($31.38 billion), or 2.29% of GDP, surpassing initial expectations but exceeding the 2023 figure of 1.61%. The finance ministry…
Business investment Local Macroeconomic How Edun inspired over $10bn inflows into Nigeria January 6, 2025 Ekemini In 2024, Nigeria witnessed significant economic progress under Finance Minister Wale Edun, who facilitated $9.09 billion in budget financing and naira stabilization inflows. Key measures included issuing domestic dollar bonds…
