2025 global economic outlook: Experts optimistic but guarded in face of volatility
Post AMUGE
December 16, 2024
Onome Amuge The global economy is expected to maintain a steady growth trajectory in 2025, underpinned by lower inflation and wage growth, resulting in increased real income, and heightened business confidence due to lower interest rates, according to a recent projection by Cordros Securities analysts. However, while the economic outlook appears promising, the analysts cautioned […]
Nigeria issues N1tn Sukuk Bond for 124 road projects across six zones
Post AMUGEDecember 13, 2024
Onome Amuge The Securities and Exchange Commission (SEC), recently confirmed that the federal government, has since 2017, issued six Sovereign Sukuk worth a total of N1.1 trillion ($657.6 million), earmarked to finance 124 federal road projects spanning over 5,820 kilometres across all six geopolitical zones in the country. Emomotimi Agama, the SEC director general made […]
Tantalizer, Conoil lead NGX rally as investors pocket N152bn
Post AMUGEDecember 12, 2024
Onome Amuge The Nigerian equities market maintained its bullish run on Thursday, December 12, 2024, as investors pocketed N152 billion profit, thanks to a surge in the share prices of several blue-chip stocks on the Nigerian Exchange Group (NGX). This is as Tantalizers, Conoil, and Custodian experienced notable gains in their share prices, fueling investor […]
Nigeria’s money supply soars by 48% to record N107.7trn in 2024 -CBN
Post AMUGEDecember 12, 2024
Onome Amuge The Central Bank of Nigeria (CBN) has released its October 2024 Money and Credit Statistics, revealing a major fluctuation in Nigeria’s broad Money Supply (M²). Data shows that the M² expanded 48.3 percent year-over-year (YoY) to N107.7 trillion, up from the N72.6 trillion recorded in October 2023. The growth continued for six consecutive […]
Blackout again as national power grid suffers 12th collapse in 2024
Post AMUGEDecember 11, 2024
Onome Amuge Nigeria’s power grid suffered yet another setback on Wednesday as it collapsed for the 12th time in 2024, plunging the nation into darkness and adding to the growing list of blackouts this year. Prior to the latest incident, data from the nation’s electricity sector had announced 11 previous grid collapses between January to […]
Nigeria risks nationwide blackout as NMDPRA halts gas supply to GenCos Over N2trn debt
Post AMUGEDecember 11, 2024
Onome Amuge The Nigerian electricity sector is on the brink of a crippling blackout following the directive issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to gas producers, mandating them to stop supplying gas to generation companies (GenCos) that are in arrears for gas purchases. NMDPRA stated that the debts owed by […]
Oil prices climb amid China’s monetary policy adjustments
Post AMUGEDecember 11, 2024
Onome Amuge Crude oil traded higher on Wednesday, driven by market speculation that the world’s largest oil importer, China, is on track for a boost in demand due to Beijing’s recent monetary policy easing, which aims to spur economic growth. Prices of Brent crude futures rose by 24 cents, or 0.3 percent, to $72.43 a […]
Political, economic issues top Nigerians’ Google news search in 2024
Post AMUGEDecember 10, 2024
Onome Amuge L-R: Diipo Ayo-Adeusi, creative director, King & Consort; Grace Abanyam, founder, Rebel by Gracie; Olumide Balogun, director, West Africa, Google; Tola Okodugha, creative director, Studs n stones; Taiwo Kola-Ogunlade, communications and public affairs manager, Google West Africa at the Google Year In Search event on Tuesday 10th December 2024 Google has unveiled the […]
Inflation, raw material costs drag down manufacturer confidence in Q3’24
Post AMUGEDecember 10, 2024
Onome Amuge Nigeria’s manufacturing sector is facing a host of challenges, from rampant inflation and high raw material costs to government indifference and increased imports, which are starting to take a heavy toll on the industry. According to the recently released Q3 2024 edition of the Manufacturers’ CEO Confidence Index by the Manufacturers Association of […]
Tinubu’s governance faces efficiency test over tax reform goals
Post AMUGEDecember 9, 2024
CITN, NECA endorse bill, say it is beneficial to all Onome Amuge President Bola Tinubu rode to power on the wings of ambitious economic reforms that promised to lift the fortunes of Nigerians, yet his tenure has been marred by skyrocketing fuel prices, a weakening naira, and rising inflation, all serving as persistent reminders of […]