Author: Ogochukwu Ndubuisi

World Bank Projects Steady Global Growth in Spite of Uncertainties The World Bank says the global economy is showing greater resilience than earlier anticipated, in spite of persistent trade tensions and policy uncertainty. The bank said this in its latest Global Economic Prospects report, released on Tuesday, which projects global growth to remain broadly steady over the next two years. According to the report, global growth is expected to ease to 2.6 per cent in 2026 before rising slightly to 2.7 per cent in 2027, representing an upward revision from its June 2025 forecast. It said that the improved outlook…

Delta Govt. Boosts MSMEs with N1bn Revolving Loan Delta Government on Tuesday released the sum of one billion naira revolving loan to boost Micro, Small and Medium Enterprises (MSMEs) in the State. The Delta Government approval of the released was consolidated with a Memorandum of Understanding (MoU) signed with the Bank of Industry (BoI) for management of the fund. Gov. Sheriff Oborevwori, while addressing the audience during the ceremony at Government House, Asaba, said the initiative was a major milestone in his administration’s quest for inclusive growth and sustainable economic development under the M.O.R.E Agenda of his administration. Oborevwori said.…

Cooling US Core Inflation Strengthens Case for Fed Rate Cuts Cooling core inflation is strengthening the case for interest rate cuts, as the latest US price data points to easing price pressure across the world’s largest economy, warns the CEO of global financial advisory organisation deVere Group. The comments from Nigel Green follow today’s release of the December Consumer Price Index, which showed core inflation rising by just 0.2% on the month and 2.6% on an annual basis — both readings coming in below market expectations. The softer outcome reinforces growing evidence that underlying inflation pressures continue to moderate. Headline…

Lithium, Gold Plants Position Nigeria as Africa’s Minerals Hub – Alake The Minister of Solid Minerals Development, Dr Dele Alake, says new lithium processing and gold refining plants are positioning Nigeria as Africa’s leading minerals hub. He said the projects signal Nigeria’s shift from raw mineral exports to value-added processing, boosting revenue, jobs and competitiveness within the global mining industry. Alake spoke during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Mr Ibrahim Al-Khorayef, ahead of the Future Minerals Forum in Riyadh. The forum is scheduled to hold from Jan. 13 to Jan. 15, bringing together global…

Ugandan President, Museveni, Seeks 7th Term After 4 Decades in Power When Yoweri Museveni seized power in Uganda in 1986, he said “the problem of Africa in general and Uganda in particular is not the people but leaders who want to overstay in power.” The 81-year-old president and former rebel is seeking a seventh term in office on Thursday after nearly four decades leading the East African nation, the vast majority of whose citizens have never known any other leader. Museveni came to power on a wave of optimism after leading insurgencies against autocratic governments. That goodwill was soon squandered…

Trump Says Nations Doing Business With Iran Face 25% Tariff on U.S. Trade President Donald Trump said any country doing business with Iran would face a tariff rate of 25 per cent on any trade with the U.S.. Trump’s threat is coming as Washington weighs a response to the situation in Iran which is seeing its biggest anti-government protests in years. “Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25 per cent on any and all business being done with the United States of America,” Trump said in a post on…

Money Market Rates Diverge, DMBs Placements Decline The money market rates diverged amidst strong liquidity levels in the financial system as data showed deposit money banks’ (DMBs) placements with the Central Bank of Nigeria (CBN) declined.  Intermarket liquidity reduced with marginal adjustment on funding costs, reflecting excess funding levels with near zero borrowing activity from the Apex Bank. Broadstreet reported that the liquidity level in the financial system opened the new week with a balance of N1.47 trillion, reflecting an improvement of N49.19 million from the previous close. This increase was primarily driven by the N617.81 million primary market inflow,…

Champion Breweries Secures SEC Approval for ₦42bn Public Offer Champion Breweries Plc has secured approval from the Securities and Exchange Commission to raise ₦42 billion through a public offer of ordinary shares priced at ₦16 each. The company disclosed the approval in a corporate filing with the Nigerian Exchange Ltd., confirming regulatory clearance to proceed with the offer. Under the offer, Champion Breweries is issuing 2.625 billion ordinary shares at ₦16 per share to investors. The statement said the offer is open to both institutional and retail investors and is designed to strengthen the company’s capital base. Champion Breweries said…

Oyedele Addresses KPMG’s ‘Errors’ in Nigeria Tax Laws In reaction to KPMG’s major errors notifications, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has clarified the policy intent behind Nigeria’s newly gazetted tax laws. The clarification comes after KPMG Nigeria’s report, which flagged potential errors, gaps, and inconsistencies in the newly gazetted tax laws. The tax firm had raised concerns over taxation of shares, dividend treatment, non-resident obligations, and foreign exchange deductions, warning that these could affect businesses and taxpayers. In a statement issued on Saturday, Oyedele insisted that most issues highlighted were a significant…

Russia Deploys Nuclear-Capable Oreshnik Missile in Attack on Ukraine At least four people were killed and 19 others injured in Kiev after Russia pummelled Ukraine with missiles and drones overnight, using its nuclear-capable Oreshnik missile to target western Ukraine. Kiev Mayor Vitali Klitschko said on Friday that a doctor was among the dead, while four medical workers were injured. Critical infrastructure had been hit in the attack, and some parts of the city were without power or water, he wrote on Telegram. The Russian Defence Ministry said on Telegram that the strikes were carried out in response to an alleged…