The IMF revised downward its 2024 economic growth projection for Nigeria to 3.0% from the 3.1%
Global Macro Highlights US Fed have decided to maintain its key interest constant at a 23 year high of 5.25% to 5.50% In the US, the Federal Reserve (US Fed) have decided to maintain its key interest constant at a 23 year high of 5.25% to 5.50% at its last monetary policy meeting citing that […]
Nigeria crude oil production for October 2023 declined marginally to 1.56mbpd
Global Macro Highlights UK economy showed no growth QoQ in Q3:2023 The Office for National Statistics reported that the UK economy showed no growth QoQ in Q3:2023 as GDP remained unchanged during the period, following a 0.2% increase in Q2:2023. However, on a YoY basis, GDP advanced by 0.6%. We note that the persistence of […]
The Senate approved a 2023 supplementary budget of NGN2.17 trillion with a deficit of NGN6.25 trillion
Global Macro Highlights US Federal Reserve chose to keep the federal funds rate The US Federal Reserve chose to keep the federal funds rate at 5.25%-5.5%, which remains its highest level in 22 years. During the previous month, the unemployment rate climbed to 3.9%, reaching its highest point since January 2022 and nonfarm payrolls saw […]
The London court ruled in favor of the Nigerian Government
Global Macro Highlight U.S. economy grew by an impressive 4.9% YoY According to a report by the United States Bureau of Economic Analysis, the U.S. economy grew by an impressive 4.9% YoY and 1.2% QoQ, representing the most substantial growth observed since Q4:2021. This surge was driven by increased government and consumer spending (a result […]