Tinubu extends 2023 supplementary budget to March
President Tinubu gave an extension for the 2023 supplementary budget until March 2024, confirmed by Speaker Tajudeen Abbas.
This move, disclosed at the Abuja presidential villa, runs concurrently with the 2024 appropriation until March 31.
The president also sanctioned the securitization of the N7.3 trillion Ways and Means debt, marking an end to this method of borrowing, assuring it’s the last occurrence.
Notably, the supplementary budget signing sparked public outcry over several allocations, including residential quarters’ renovations for the president and vice president in Abuja.
Weather forecast: Sunny North, hazy South; Thunderstorms in coastal areas
According to the Nigerian Meteorological Agency, a sunny and hazy atmosphere is expected over the North and North Central regions throughout the forecast period.
Moderate dust haze with horizontal visibility of 2–5 km is expected over the inland areas of the south and coastal cities, with prospects of isolated thunderstorms over parts of Lagos, Rivers, Bayelsa, and Delta states in the afternoon/evening period.
NACCIMA calls for collaborative efforts to boost economic growth
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, led by Dele Oye, encourages resilience amidst economic challenges.
Oye’s New Year message urges faith in Nigeria and emphasises fostering key sectors like agriculture, mining, and industry.
Highlighting diversification and collaboration for economic strength, Oye urges collective efforts for positive changes, aiming for progress and prosperity in 2024.
President Tinubu echoes commitment to enhance Nigeria’s business environment.
Foreign companies increase NGX investment to N71.4bn
Foreign transactions on the Nigerian Exchange Limited surged by 113.94 percent to N71.37 billion in November from N33.36 billion in the previous month.
The Foreign Portfolio Investment Report highlighted a consistent drop in foreign participation in the market since 2020.
November’s data revealed a significant improvement in total foreign transactions to N363 billion, while domestic transactions stood at N2.871 trillion. Foreign inflows totaled N157.32 billion against outflows of N205.43 billion.
Bitcoin climbs above $45,000 for first time since April 2022
Bitcoin surged above $45,000, hitting its highest since April 2022, on the promise of potential approval for spot bitcoin ETFs.
The cryptocurrency soared 154 percent in 2023, reaching $45,488. Ether, linked to the Ethereum network, also rose to $2,376.
Investors hope to pivot on U.S. regulators endorsing spot bitcoin ETFs, with signs pointing to potential approval in early January.
Anticipation of interest rate cuts and recovery from 2022 crypto-market setbacks bolster this optimistic outlook.