As Nigeria works to execute its ambitious N54.9 trillion 2025 budget, economic analysts are raising concerns over the potential impact of former U.S. President Donald Trump’s energy policies. His focus on ramping up fossil fuel production through the “Drill Baby Drill” initiative could lead to an oversupply in global oil markets, driving down crude prices […]
Optimism Amid Concerns: Nigerian Businesses Expect Naira Depreciation – CBN Report Nigerian businesses anticipate further depreciation of the naira this month and into the first quarter of 2025, according to the Central Bank of Nigeria’s (CBN) Business Expectations Survey Report for November 2024. While businesses remain optimistic about the broader macroeconomic environment, they hold mixed […]
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The Nigerian Naira has experienced a significant drop in the parallel market, depreciating to N1,668 per dollar, compared to N1,600 per dollar the previous day. This marks a noticeable decline in the currency’s value within the informal trading segment. Conversely, in the official foreign exchange market, the Naira showed signs of recovery, appreciating to N1,534.6 […]
