CBN Rules Out Further Naira Devaluation in 2025
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…
BMI Predicts Monetary Easing in Nigeria as Inflation Drops
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…
Indonesia’s 2024 Budget Deficit Lower Than Expected at 2.3% of GDP
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…
How Edun inspired over $10bn inflows into Nigeria
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…
Net Forex inflow rises 70% to $42 bn
Nigeria’s net foreign exchange inflows surged by 70.5% year-on-year (YoY) to $42.06 billion in the first nine months of 2024, up from $24.66 billion during the same period in 2023,…
Market Outlook for 2025 Amid Trump Return and Federal Reserve Decisions
As President-elect Donald Trump prepares to return to the White House, U.S. investors anticipating significant changes that will impact the economy and markets in 2025. Key policy shifts, including tax…
Markets in 2024: Wall Street’s high-octane rally keeps investors captive to the US
In 2024, global markets have experienced a surprising surge, with world stocks on track for their second consecutive annual gain of over 17%. Despite ongoing geopolitical tensions in the Middle…
Festivity and Energy Costs Expected to Drive Inflation Surge in December
Analysts predict that Nigeria’s headline inflation will rise to 34.91% year-on-year in December due to seasonal festive demand, poor harvests, and high energy and transport costs. Recent data from the…
Bank of England Expected to Maintain Interest Rates at 4.75%
The Bank of England is expected to keep its base interest rate steady at 4.75%, following the Monetary Policy Committee (MPC) decision. This comes after inflation in the UK rose…
Capital Economics sees muted Saudi growth into 2025
Capital Economics forecasts subdued economic growth for Saudi Arabia through 2025, attributing it to conservative oil policies and fiscal consolidation efforts. The country’s GDP growth slowed from 1.4% in the…
Tinubu Unveils 2025 Budget Targeting Inflation and Naira Stability
President Bola Tinubu presented the 2025 Appropriation Bill to the National Assembly, aiming to stabilize the exchange rate at N1,500 per dollar, down from the current N1,700, and reduce inflation…
MSMEs navigate tough economy, demand state of emergency to tackle issues
Micro, small, and medium enterprises (MSMEs) in Nigeria are facing a tough economic environment marked by rising costs, limited access to credit, multiple taxation, and inadequate infrastructure. These challenges have…
Rupee Hits Record Low at 85/USD as Fed Outlook and Economic Pressures Weigh
The Indian rupee has plunged past the 85 mark against the U.S. dollar for the first time, marking a historic low. The decline follows the U.S. Federal Reserve’s hawkish outlook,…
CBN caps PoS daily withdrawal at N100,000 to boost cashless economy
The Central Bank of Nigeria (CBN) has implemented a daily withdrawal limit of N100,000 for customers using point-of-sale (PoS) terminals to boost the country’s cashless economy. The policy, outlined in…
Dangote to NNPC Ltd: Your statement on $1bn refinery investment inaccurate, misleading
Dangote Petroleum Refinery has refuted claims made by the Nigerian National Petroleum Company Limited (NNPCL) about its role in a $1 billion refinery investment. Describing NNPCL’s statement as misleading, Dangote…
Nigeria’s $42bn Reserves Can Fund Nine Months of Imports Says CBN
Nigeria’s external reserves have grown to $42.01 billion, enabling the country to finance imports for over nine months, according to Central Bank of Nigeria (CBN) Governor Olayemi Cardoso. Speaking before…
SEC seeks policy support to drive $1tn economy
The Securities and Exchange Commission (SEC) has called for stronger policy support to help drive Nigeria’s ambition of reaching a $1 trillion economy, emphasizing the capital market’s crucial role in…
$1 trn economy is necessity for prosperity, resilience of Nigeria — SEC DG
The Securities and Exchange Commission (SEC) has emphasized that achieving a $1 trillion economy is essential for Nigeria’s prosperity and resilience. Dr. Emomotimi Agama, the SEC Director General, stated that…
Senate Proposes Ban on Dollar Salaries and Foreign Currency Transactions
The Nigerian Senate has introduced a bill to amend the Central Bank of Nigeria Act, 2007, prohibiting the use of foreign currencies for payments and transactions within the country. Titled…
Hedge Funds Turn to Macro Strategies Amid Market Volatility in 2025
Hedge fund investors are prioritizing macro strategies for 2025, driven by anticipated political and economic turbulence under the incoming U.S. administration. President-elect Donald Trump’s policies, particularly tariff hikes, are expected…