Global Market News

Shares slide, US Treasuries rally as Trump tariffs unleash recession fears"” Reuters

Financial markets were gripped by recession fears as stocks extended a punishing global selloff on Friday in the wake of U.S. President Donald Trump's sweeping tariffs, helping drive a rally in U.S. Treasuries and supporting gold near a record peak. Click here for more.

Oil set for worst week in months over Trump's new tariffs "” Reuters

Oil prices fell further in early Asian trade on Friday, and were on track for the worst week in months over U.S. President Donald Trump's new tariffs, stoking concerns over a global trade war that could weigh on oil demand. Click here for more

Macroeconomic News

FG seeks fresh $10.50m W'Bank loan"” Punch

Nigeria has approached the World Bank for a fresh $10.50m loan to enhance the Central Bank of Nigeria's technical capacity and modernise the country's domestic payment infrastructure. According to information exclusively obtained from the World Bank website on Thursday by The PUNCH, the proposed CBN Technical Assistance Facility seeks to support integrating innovative technologies and data science into the CBN's supervisory processes. Click here for more.

FX inflow rises 20.62% as CBN's share shrinks"” Punch

The Nigerian economy recorded a rise in foreign exchange inflow during the fourth quarter of 2024, according to the latest Central Bank of Nigeria Economic Report. The report revealed that total foreign exchange inflow rose by 20.62 per cent to $27.81bn, up from $23.06bn in the preceding quarter. Click here for more.

Marketers demand probe of naira-for-crude deal "" The Sun

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Minister of State for Petroleum, Heineken Lokpobiri, to conduct an appraisal of the first phase of the naira-for-crude oil initiative. PETROAN's spokesperson, Joseph Obele, said in a statement that the appraisal of the initiative will determine the next steps in the best interest of Nigerians. Click here for more.

Manufacturers regaining confidence as forex stabilises "" MAN "” Punch

Manufacturers are optimistic about the stability of the sector following a challenging period of unsold inventory and economic uncertainty, according to the Chairman of the Manufacturers Association of Nigeria, Ogun State Chapter, George Onafowokan. Click here for more

Freight forwarders urge Senate, FCCPC to halt WACT tariff hike"” The Sun

The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has called on the Senate Committee on Ethics, Privileges, and Public Petitions and the Federal Competition and Consumer Protection Commission (FCCPC) to intervene over the recent increase in charges by the West African Container Terminal (WACT) at Onne Port. The association also expressed its dissatisfaction with the role played by the Nigerian Shippers' Council (NSC) in the approval of the tariff increment. Click here for more

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