Global Market News

Wall Street ends lower ahead of US data; dollar pressured by yen, yuan"” Reuters

U.S. stocks lost ground at the start of a holiday-shortened week on Monday as investors positioned themselves ahead of inflation data. All three major U.S. stock indexes ended the session in the red, with the blue-chip Dow suffering the largest percentage loss. Click here for more

Oil prices extend upward momentum on expectations of tighter supply"” Reuters

Oil prices were on track to gain for a second straight day on Tuesday after settling up more than a dollar on expectations of tighter supply driven by Russian production cuts and attacks on Russian refineries. Click here for more

Macroeconomic News

FEC approves N1.267trillion for 28 roads, bridges"”The Sun

The Federal Executive Council (FEC) meeting presided over by President Bola Tinubu has approved N1.267 trillion for the construction of 28 roads and bridges across the country. Click here for more.

Tinubu okays infrastructure development fund, FG eyes $25bn annually"”Punch

President Bola Tinubu on Monday approved the Renewed Hope Infrastructure Development Fund to bridge the country's $25bn per annum infrastructure funding gap. The new initiative will be domiciled in the Presidency, the Minister of Information and National Orientation, Mohammed Idris, told journalists after Monday's Federal Executive Council meeting at the Presidential Villa, Abuja. Click here for more.

CBN approves fresh FX allocation to BDCs at lower rate"”ThisDay

The central bank disclosed that the sum of $10,000 would be sold to each BDC at the rate of N1, 251/S, which was a N50 reduction compared to N1, 301/S allocation in the initial tranche. Click here for more.

Abuja farmers, others lost N12bn to ginger disease "" FG"” Punch

The Federal Government, on Monday, confirmed the outbreak of ginger blight epidemic in four states in Nigeria, adding that ginger farmers have lost over N12bn due to the disease. Click here for more.

Nigeria unveils $200 million global donor initiative to boost SMEs "” The Guardian

Nigeria closed this year's African Diaspora Investment Symposium (ADIS24) with the unveiling of its new online charitable platform, i-philanthropy, that invites Nigerians from all over the world to have a stake in the country's economy. Click here for more.

Company News

Coronation Group, Access Holdings, Safaricom, M-PESA Africa partner on remittances in Africa"" ThisDay

The Coronation Group, Access Holdings Plc, Safaricom Plc and M-PESA Africa (the parties) have forged a strategic alliance that would broaden access to remittances across Africa and propel financial inclusion that could nurture economic prosperity for millions across the continent. Click here for more.



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