Global Market News

Asia stocks gain, much riding on China stability efforts"" Reuters

Asian stocks firmed on Wednesday as investors waited to see if Beijing's increasingly frantic efforts to prop up its sagging share markets would actually work, while bonds enjoyed a reprieve from recent selling. Click https://www.reuters.com/markets/global-markets-wrapup-1-2024-02-07/ for more

Oil ticks up on lower-than-expected rise in U.S. crude stocks "" Reuters

Oil edged higher for a third straight day on Wednesday after industry data showed U.S. oil stocks grew less than expected and the U.S. sharply cut its forecast for the country's oil output growth, easing concerns about potential oversupply. Click https://www.reuters.com/markets/commodities/oil-edges-up-smaller-us-output-growth-estimates-2024-02-07/ for more

 Macroeconomic News

CBN's Forex Reforms Trigger $844m Single Day Trade, Highest In 19 Months"" Leadership

Turnover in Nigeria's foreign exchange market jumped to $844 million on February 3, the highest dollar trade since June 2, 2022, according to data compiled by the FMDQ Securities Exchange Ltd. Click https://leadership.ng/cbns-forex-reforms-trigger-844m-single-day-trade-highest-in-19-months/ for more.

Dangote to list refinery, fertiliser companies ""NGX Group chair "" Punch

The Chairman of Nigerian Exchange Group, Dr Umaru Kwairanga, has disclosed that two companies in the Dangote Industries Group will be listed on the exchange soon. Click https://punchng.com/dangote-to-list-refinery-fertiliser-companies-ngx-group-chair/ for more.

BoI, IFC Deepen Access To Finance, Export Credit"" Leadership

The Bank of Industry (BoI) and the International Finance Corporation (IFC) have partnered to improve access to finance and export credit to boost Nigeria's industrialisation drive. Click https://leadership.ng/boi-ifc-deepen-access-to-finance-export-credit/ for more.

NNPCL differs as marketers fear fuel queues spread "" Punch

Oil marketers have expressed fears that there might be scarcity of petrol if the Nigerian National Petroleum Company Limited fails to make the product available to depot owners and other dealers. Click https://punchng.com/nnpcl-differs-as-marketers-fear-fuel-queues-spread/ for more

Credit to Government, Private Sector Up 49.77% to N62.5tn YoY"" ThisDay

The Central Bank of Nigeria (CBN) has disclosed that banks' credit to the economy rose by 49.77 per cent Year-on-Year (YoY) to N62.52 trillion in December 2023 from N41.74trillion reported in the corresponding period of 2022. Click https://www.thisdaylive.com/index.php/2024/02/07/credit-to-government-private-sector-up-49-77-to-n62-5tn-yoy for more.

Nigerians spent $98bn on foreign trips, education in 10 years "" CBN "" Punch

Nigerians' spending on foreign education, healthcare and personal travels gulped over $98bn in 10 years, according to the Central Bank of Nigeria data. Click https://punchng.com/nigerians-spent-98bn-on-foreign-trips-education-in-10-years-cbn/ for more.



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