Global Economy –Rundown:
Details of the ratified US China phase one trade resolution revealed that, China has pledged to purchase additional $200 Billion of US goods and services over the next two years and United States compensating side of the deal would be the reduction of tariffs to 7.5% from 15% on imported Chinese products to the tune of $120 Billion, this bring some level of relief to manufacturers, whose goods were previously note competitive.
Domestic Economy –Rundown:
According to the recent Debt data computed as at September, 2019 the Nation’s debt profile inched up by 2.02% from N25.7trillion recorded as at 30th September, 2018 to N26.22trillion. While the sum of N0.802Billion was the domestic debt issued for the year from the budgeted sum of N1.61trillion, as 2019 Budget was ratified late in the year and the international element could not be issued because of the change in Government budgetary calendar that now commence from January 1st.