Scott Bessent Faces Senate Scrutiny Over Taxes Trade and Deficits
Scott Bessent, President-elect Donald Trump’s nominee for Treasury Secretary, is set to face tough questions from the Senate Finance Committee…
Category: Macroeconomic
Equity market posts N930bn loss
The Nigerian equity market recorded a significant loss of N930.62bn at the close of trading on Wednesday, marking the third…
34.8% inflation rate triggers fears of rising prices, hardship
Nigeria’s inflation rate surged to 34.80% in December 2024, a marginal increase from November’s 34.60%, according to the National Bureau…
Nigeria’s Inflation Hits 34.80% Dampening Hopes for Rate Cut
Nigeria’s inflation rate surged to 34.80% in December 2024, dampening expectations for a potential rate cut by the Monetary Policy…
ECB Looks to Services Prices to Meet Inflation Target Says Chief Economist
Eurozone inflation is expected to decline in 2025 due to slower wage growth and reduced cost pressures, according to European…
UK Business Confidence Falls to Two-Year Low Amid Tax Concerns
British business morale plunged to its lowest point in two years during late 2024, driven by tax concerns following the…
Naira fall takes $310bn toll on economy
Nigeria’s economy has suffered a $310 billion loss in GDP over the past decade, driven by naira devaluation, low productivity,…
Bitcoin, dollar assets top investments to watch
As Nigerians evaluate investment options for 2025, experts highlight key opportunities in dollar savings, Nigerian stocks, and other assets. In…
CBN fines 9 banks N1.35bn for failing to dispense cash via ATMs
The Central Bank of Nigeria (CBN) has fined nine banks N1.35 billion for failing to ensure cash availability through automated…
Nigerian Reforms and Rising Demand to Drive Africa’s 4.2% GDP Growth in 2025
The Brookings Institution has forecasted a 4.2% growth in Africa’s GDP for 2025, an improvement from 2023’s 3.1%, per the…
Stock Price of FBN Holdings Crashes by 5.63%
The stock price of FBN Holdings Plc fell by 5.63% on the Nigerian Exchange Limited (NGX), closing at ₦28.50 per…
FX Appetite Drives 79.4% Surge in Mutual Funds to N3.8 Trillion
The growing appetite for foreign currency investments, especially dollar-denominated assets, has propelled Nigeria’s mutual funds to a record N3.829 trillion,…
Value of eNaira rises by 57% to N18.32 bn
The value of the eNaira, Nigeria’s digital currency introduced by the Central Bank of Nigeria (CBN) in 2021, increased significantly…
Naira appreciates to N1,655/$ in parallel market
The Naira appreciated in the parallel market yesterday, trading at N1,655 per dollar compared to N1,665 last weekend. However, according…
Investors lose N51bn as equity market shrinks
The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn. The NGX All-Share…
December inflation projected to hit 35.20%
Nigeria’s inflation rate is projected to rise to 35.20% in December 2024, driven by persistent price pressures, according to the…
Experts project 3.5% economic growth for Nigeria in 2025
Experts forecast Nigeria’s economy to grow by 3.5% year-on-year in 2025, a slight improvement from the estimated 3.2% in 2024,…
The oil and gas sector received 31.1% of banks’ credit allocation in Q3 2024 –CBN
In the third quarter of 2024, the oil and gas sector secured 31.1% of Nigeria’s total credit allocation from deposit…
GDP rebasing: Services to enjoy biggest gain
Nigeria’s services sector is projected to account for 55 to 60 percent of its rebased Gross Domestic Product (GDP) in…
CBN expected to hold MPR for most of 2025
Asset management firm Meristem Securities has projected that the Central Bank of Nigeria (CBN) will likely maintain its Monetary Policy…
FG to strengthen capital market for wealth creation
The Federal Government has reiterated its commitment to bolstering Nigeria’s capital market as a key driver of economic growth and…
Nigeria secured $7.6bn investments at Africa forum – Adesina
Nigeria has attracted $7.6 billion in investment commitments at the Africa Investment Forum 2024, held in Rabat, Morocco, from December…
European Stocks Edge Higher as Mining Gains Offset Retail Losses
European stocks regained stability on Thursday, as the STOXX 600 index rose by 0.1%, recovering from early declines. Mining stocks…
Dollar Stable Amid Rising Yields and Hawkish Fed Minutes
The US dollar held steady on Thursday, supported by climbing Treasury yields and the Federal Reserve’s hawkish stance, which suggests…
European Stocks Dip as UK Retailers and Economic Data Take Center Stage
European stock markets edged lower on Thursday, weighed down by mixed economic data and corporate earnings. Germany’s DAX and France’s…
Asia FX weakens as hawkish Fed boosts dollar; yen rises on BOJ rate hike bets
Asian currencies faced pressure on Thursday as a stronger dollar gained momentum following hawkish Federal Reserve signals of slower rate…
Naira down to N1,655/$ in parallel market
The Naira experienced further depreciation in the parallel market, sliding to N1,655 per dollar from N1,650 the previous day. Similarly,…
MTN Nigeria and Transcorp Lead as Nigerian Stock Market Gains N507bn
Investors on the Nigerian Exchange witnessed a significant gain of N507 billion on Wednesday, with market capitalization rising to N63.56…
French Inflation Slows to 1.8% in December Falling Below Forecasts
According to preliminary data from INSEE, French inflation rose to 1.8% year-on-year in December, falling short of the anticipated 1.9%.…
Dollar Declines as Markets Weigh Trump’s Tariff Proposals and U.S. Economic Data
The U.S. dollar edged close to a one-week low on January 7 as investors assessed the potential impact of President-elect…