Business Planning

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Business Planning

Global growth to slow amid trade tensions – OECD

France, March, 18, 2025 – Global growth is expected to slow due to “trade barriers” and “increased geopolitical and policy uncertainty,” the Organisation for Economic Cooperation and Development (OECD) said Monday. Growth is projected to slow to 3.1% in 2025 and 3.0% in 2026, with the Paris-based policy forum lowering its projections from 3.3% for both this year and next. “Increasing trade restrictions will contribute to higher costs for both production and consumption. It remains essential to ensure a well-functioning, rules-based international trading system and to keep markets open,” OECD …

Business Planning

Trump’s tariffs will slow China’s economy, impede global trade – OECD

Beijing, March 18, 2025 – Chinese economy is seen to grow 4.8 per cent this year, with any decline in demand felt across multiple industries and regions China’s economy is set to slow further as a result of new tariffs imposed by US President Donald Trump, with global repercussions, the Organisation for Economic Cooperation and Development said on Monday. According to the OECD’s latest outlook, the Chinese economy will likely grow by 4.8 per cent this year before slowing to a 4.4 per cent clip in 2026. The organisation attributed …

Business Planning Foreign

Trump’s trade wars will hit Americans hardest – analysis

Washington, March 17, 2025 – Donald Trump’s escalating trade war will hit the president’s supporters the hardest, according to a new analysis. The president has beefed up the tariffs as part of his effort to reshape America’s trading partnership with the world. The retaliatory tariffs target industries in swing states that employ 9.5 percent of people in Wisconsin, 8.5 percent of people in Indiana and 8.4 percent of people in Iowa.  Experts say industries hit by retaliatory tariffs are likely to sell fewer goods on foreign markets, which could lead …

Business Planning Oil and Gas

IPMAN denies opposing recent drop in petrol price

Lagos, March 16, 2025 – The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied a report that it opposed the recent drop in the price of petrol from the Dangote Refinery and the Nigerian National Petroleum Corporation Limited. The association made the denial on Sunday in a statement issued by its National Vice President, Hammed Fashola. It said it had never opposed the recent fuel price reduction resulting from full deregulation of the downstream sector, stressing that the association had long canvassed for full deregulation of the Nigerian oil …

Business Planning

Tinubu economic policies driving exports, boosting trade surplus – TMV

Abuja, March 14, 2025 – The Tinubu Media Volunteers (TMV) has described the rise in Nigeria’s exports in the last one year as yet another manifestation of the efficacy of the economic policies of the President Bola Tinubu administration. This, according to the group, is clear from the progressive rise in trade surplus between the fourth quarter of 2023 and that of 2024. In a statement signed by its Chairman Chukwudi Enekwechi and Secretary Shedrach Sunday, TMV noted that the latest foreign trade report from the National Bureau of Statistics …

Business Planning General News Money market

UK economy shrinks in January below expectations

London, March 14, 2025 – Britain’s economy unexpectedly shrank in January, official data showed Friday, piling more pressure on the Labour government ahead of its Spring Statement on the economy. Gross domestic product contracted 0.1 percent in the month after GDP rose 0.4 percent in December, the Office for National Statistics (ONS) said in a statement. Britain’s finance minister Rachel Reeves is expected to make billions of pounds of spending cuts, including to welfare, in the government’s Spring Statement on March 26, a follow-up to her inaugural budget last October, …

Business Planning

Musk’s Tesla raises concern over Trump tariffs

Washington, March 14, 2025 – Elon Musk’s electric carmaker Tesla has warned it and other US exporters could be harmed by countries retaliating to Donald Trump’s trade tariffs. Musk is a close ally of the US president and is leading efforts to reduce the size of the federal government. But in an unsigned letter addressed to the US trade representative, Tesla said while it “supports” fair trade it was concerned US exporters were “exposed to disproportionate impacts” if other countries retaliated to tariffs. The letter was dated the same day …

Business Planning

China remains Nigeria’s dominant trading partner

Lagos, March 10, 2025 – China remains Nigeria’s dominant trading partner since 2024, particularly on the import side, with a significant share of Nigeria’s total imports.  India, the USA, Belgium, and The Netherlands followed in terms of trade volume. According to the Nigeria Bureau of Statistics (NBS), the trade volume between China and Nigeria exceeded $20 billion in 2024.  Nigeria recorded a N3.4 trillion trade surplus against China in the fourth quarter of 2024 The most traded commodities during the first and second quarters of 2024 included motor spirit ordinary, …

Business Planning Money market

FG to ensure Nigeria becomes top investment destination

Lagos, March 6, 2025 – The federal government is committed to ensuring that Nigeria once again becomes a top investment destination. President Bola Tinubu said this while laying the foundation for the new 40-storey headquarters of the FirstBank Group in Eko Atlantic City in Lagos on Wednesday. The president, who was represented by Vice President Kashim Shettima, said his administration was fostering an environment where significant investment and transformative projects could thrive through bold economic reforms. He said that his administration was also committed to exploring strategic public-private partnerships and …

Business Planning Foreign Money market

Trump says Musk to uncover billions in ‘fraud and abuse’ at US Pentagon

Washington, Feb. 10, 2025 US President Donald Trump has said he expects his ally Elon Musk to find billions of dollars of fraud and abuse at the Pentagon, after he was tasked with leading an audit to slash the size of the US federal workforce. “We’re going to find billions, hundreds of millions of dollars of fraud and abuse,” Trump said of the largest federal department in an interview with Fox News, an excerpt of which was aired on Sunday morning. “And, you know, the people elected me on that.” …