Business
Nigeria, Africa Urged To Leverage Trump’s Victory For Economic Boost
Nigeria and other African nations could benefit from the re-election of former U.S. President Donald Trump by leveraging U.S. mineral resources for their economic growth, according to energy analyst, Yemi Adeoye.
Speaking on TVC News on Monday, Adeoye, who is also the CEO of BIZTELLERS, emphasized the potential for Nigeria to position herself strategically in the global mineral market.
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“If Trump secures a second term, there’s an opportunity here for African countries, particularly Nigeria, to tap into U.S. mineral resources. This could significantly bolster our economic development,” said Adeoye.
He noted that a renewed Trump presidency might present unique trade and investment opportunities that Nigeria could utilize for substantial growth.
Adeoye also addressed the potential implications for Nigeria’s oil sector, highlighting the need to adapt in a changing global energy landscape. “Under a second Trump administration, the future of the oil market may shift. It’s crucial for Nigeria to diversify and leverage other resources, ensuring we remain competitive in an evolving industry,” he explained.
The CEO stressed that African nations should not remain passive but should seek collaborative ventures that could benefit their economies directly. “Now is the time for us to strategically position ourselves, both in terms of mineral resources and in fostering partnerships that will promote sustainable development,” Adeoye added.
He urged Nigerian leaders to closely monitor global economic policies and seek avenues to secure mutually beneficial agreements with the United States, regardless of the election outcome.
The Nigerian Economic Summit Group (NESG) has projected that the country has the potential to achieve a 5.5% growth in Gross Domestic Product (GDP) if critical policy reforms are sustained.
This was disclosed on Thursday during the launch of the NESG’s 2025 Macroeconomic Outlook report.
Speaking at the event, the Chief Economist and Director of Research & Development at NESG, Dr. Olusegun Omisakin, highlighted the need for more efficient policy implementation to unlock Nigeria’s economic potential.
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“We believe at the optimal level, if we embark on more efficient policy reforms, the Nigerian economy has the potential, the GDP to end up at 5.5 per cent, and we believe that this is achievable,” Omisakin stated.
More to follow……….
The Central Bank of Nigeria (CBN) has announced the release of the Nigerian Foreign Exchange (FX) Code, a set of guidelines designed to promote ethical conduct among authorized dealers in the country’s FX market.
In a statement, the apex bank disclosed that the official launch of the Code would take place on Tuesday, January 28, 2025, at the CBN Head Office Auditorium in Abuja.
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“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market,” the statement read.
The introduction of the FX Code is expected to enhance transparency, accountability, and professionalism within Nigeria’s foreign exchange ecosystem, aligning it with global best practices.
The event is anticipated to attract key stakeholders in the financial and banking sectors, as well as representatives from authorized FX-dealing institutions across the country.
The 47th President of the United States, Donald Trump attracted up 3 trillion dollars in investments into the country’s economy in his first full day at work.
This was gleaned from the verified handle of the POTUS on micro-blogging site, X, on Wednesday.
Biztellers reports that the POTUS is focused ensuring at least $1 trillion investment daily for the first seven days of his return to the White House, which would be driven by key clearly identified areas, including artificial intelligence.
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President Trump wrote, “In total, before the end of my first full business day in Washington and the White House, we’ve already secured nearly $3 trillion of new investments in the United States.
“And probably, that’s going to be six or seven by the end of the week.”
In a short video clip accompanying the statement, President Trump assured that the surge in investments would likely hit $7 trillion within his first seven days as the 47th POTUS.
He highlighted that artificial intelligence had proven to be an area lots of willing entrepreneurs had shown much appetite for.
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