Dear All,
Global growth has outpaced expectations in the past two years, driven by strong private and government spending, as well as improved supply chains. We anticipate continued growth in 2025, supported by a recovery in consumer spending.
In Nigeria, we foresee increased oil production, backed by improved security and reforms, alongside the resumption of local refineries. While inflation is expected to moderate, monetary easing isn’t anticipated until late 2025.
For the equities market, we maintain a cautiously optimistic outlook for 2025, driven by improved macro conditions and corporate performance. The fixed income market should remain attractive, with yields potentially moderating if inflation tapers and policies ease.
Kindly find attached our full outlook report detailing our expectations and projections.
Regards,
