Global Market News

Stocks, dollar eye weekly rise on Trump's tariff backdown"” Reuters

Asian stock markets headed for a second straight week of gains on Friday and the dollar for its first weekly rise in more than a month as investors have welcomed an apparent softening of the White House stance on China, despite no signal of detente. Click here for more.

Oil prices set for weekly loss on potential for more global supply"” Reuters

Oil prices edged higher on Friday but were on track for a weekly loss as a potential OPEC+ output increase and a possible ceasefire in the Russia-Ukraine war may raise supply at the same time conflicting U.S. tariff signals limit the demand outlook. Click here for more.

Macroeconomic News

World Bank projects 3.6% economic growth for Nigeria"” Punch

The World Bank has projected that Nigeria's economy will grow by 3.6 per cent in 2025, building on an estimated expansion of 3.4 per cent in 2024, as key macroeconomic reforms begin to stabilise the business environment. Click here for more.

FX inflows rise on non-oil export push"” Punch

Nigeria's efforts to wean itself from over-reliance on oil revenue appear to be gaining traction. The Nigerian Export Promotion Council recently reported that the country's non-oil exports increased by 20.79 per cent in value, reaching $5.456bn in 2024, up from $4.5 bn the previous year. Click here for more.

Investments in manufacturing sector crashed by 35% "" MAN"” Punch

A report by the Manufacturers Association of Nigeria has revealed that investments in the manufacturing sector contracted by 35.3 per cent in 2024. The sector endured a sharp contraction in real investment in the past year, as finance costs of N1.3tn elevated by the country's harsh macroeconomic environment forced manufacturers to scale back expansion plans. Click here for more

Nigeria in talks to rejoin JPMorgan Index"” Punch

Nigeria has begun formal discussions with JPMorgan to re-enter its Government Bond Index for Emerging Markets, almost 10 years after the country was removed over concerns about FX transparency and market liquidity. Click here for more.

FG eyes steel import reduction with Ogun plant"” Punch

The Federal Government has taken a bold step to slash Nigeria's $4bn annual steel import bill with the groundbreaking of a $400m Stellar Steel Plant owned by Inner Galaxy Group in Ogun State. The Minister of Steel Development, Prince Shuaibu Audu, who performed the official groundbreaking ceremony of the steel plant, said the move is aimed at revitalising the country's steel sector and reducing dependence on imports. Click here for more

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