Global Market News

Japan exports rebound on China chipmaking demand but Trump tariff risks loom "” Reuters

Japan's exports expanded faster than expected in October, led by a pick-up in chip equipment demand in China, though fears persist over potential U.S. protectionist trade policies that could hamper future shipments. Click here for more.

Asian shares cautious before Nvidia result, dollar gives back gains "” Reuters

Asian shares were cautious on Wednesday as investors looked ahead to earnings results from AI darling Nvidia where the risk of disappointment is high, while the dollar gave back a little of its recent bumper gains. Click here for more.

Macroeconomic News

Private Sector Credit Surged 30% YoY to N75.85tn in September"” This Day

Nigeria's private sector credit expanded significantly in the first nine months of 2024, reaching N75.85 trillion in September, a 30 per cent year-on-year increase from N59.51 trillion in September 2023. Click here for more.

Oil reserves plunge by 50bn barrels as investments shrink "” Punch

The Nigerian Upstream Petroleum Regulatory Authority says the country's oil reserves declined by 50 billion barrels over 14 years. According to the NUPRC, oil reserves shrank from 38 billion barrels to 37.50 billion barrels between 2008 and 2023. Click here for more.

Minimum wage hike to swell FG's personnel, pension costs by N3.57trn in 2025 "” The Sun

The Federal Government has projected a notable rise in personnel and pension costs for 2025, primarily driven by the implementation of the new minimum wage. Click here for more.

Dangote refinery begins fuel export to W'African countries "” Punch

The Dangote Petroleum Refinery has begun the export of refined petroleum products to neighbouring West African countries, a sign to traders that the mega-refinery's operations could soon potentially shake up regional fuel markets. Click here for more.

Senate to approve Tinubu's $2.2bn loan request today "” Punch

The Senate will approve the $2.2bn (about N1.77tn) loan request of President Bola Tinubu today (Wednesday). This request, submitted by the President, is part of the external borrowing plan outlined for implementing the N28.7tn 2024 budget. Click here for more.

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