Weekly Market Review: January 2025, Edition 3
Prologue As Nigeria gradually settles into the year 2025, the financial markets are at a critical juncture, shaped by record inflation, elevated interest rates, and an evolving macroeconomic landscape. With inflation climbing to an all-time high of 34.80% in December 2024—contrary to expectations of a slight decline—individuals and businesses alike are keenly observing how monetary […]
Weekly Market Review: January 2024, Edition 2
Prologue As the financial markets anticipate the release of Nigeria’s inflation report for December 2024, there is a growing discourse on how this data may shape the Central Bank of Nigeria’s (CBN) policy direction at the forthcoming Monetary Policy Committee (MPC) meeting (scheduled for 27th and 28th of January 2025). Given the delicate state of […]
Weekly Market Review: January 2025, Edition 1
Prologue While addressing the country on January 1, 2025, President Bola Ahmed Tinubu reiterated his administration’s steadfast resolve to curb inflation, targeting a significant reduction from 34.60% to 15% by the close of 2025. The target underscores the administration’s focus on restoring economic stability and alleviating Nigeria’s rising cost of living—as inflation control remains critical […]
Weekly Market Review: December 2024, Edition 5
Prologue As inflation continues to present a persistent and formidable challenge in Nigeria, analysts suggest that the Federal Government could potentially achieve a return to single-digit inflation in the upcoming year. However, this would be contingent upon attracting a significant influx of Foreign Direct Investments (FDIs) into the country. One particularly optimistic proposal highlights that […]
Weekly Market Review: December 2024, Edition 4
Prologue The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) was without a doubt the most impactful decision maker for the Nigerian economy in 2024. At all its meetings this year, the Monetary Policy Rate (MPR) was hiked along with several adjustments to other monetary policy tools (including the Cash Reserve Ratio […]
Weekly Market Review: December 2024, Edition 3
Prologue Nigeria’s monetary authorities have gone far and beyond to address the country’s inflation and foreign exchange problems and, thankfully, positive results have started to show. The Monetary Policy Rate (MPR) has been pushed up a whole 875 basis points since the start of 2024 along with many complementing measures that have been instituted to […]
Weekly Market Review: December 2024, Edition 2
Prologue Last week, Nigeria conducted a successful Eurobond auction, the first issuance since 2022, and it was a revelation of overwhelming investor confidence in the country’s macroeconomic policies. The auction received a total subscription above $9 billion, significantly exceeding the $2.2 billion issued. Analysts believe this strong demand reflected support from a broad array of […]
Weekly Market Review: December 2024, Edition 1
Prologue On Tuesday, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) made its latest policy decision, announcing a 25 basis points hike in the Monetary Policy Rate (MPR)—from 27.25% to 27.50%. This brings the MPR increases to a total of 875 basis points since Governor Olayemi Cardoso took office. The recent […]
Weekly Market Review: November 2024, Edition 4
Prologue Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, recently clarified that the current Finance Act will be rendered ‘null and void’ once the proposed Tax Reform Bills are passed into law by the legislative and executive branches of the government. This statement was made during a stakeholder session […]
Weekly Market Review: November 2024, Edition 3
Prologue The recent increase in Nigeria’s foreign reserves, which have risen above $40 billion as of November 13, 2024, signifies a positive shift in the country’s economic outlook. This growth from approximately $33 billion at the beginning of the year and around $38 billion just a month ago reflects improved financial stability and resilience against […]
