By Kayode Sanni-Arewa

President Bola Tinubu extends his heartfelt congratulations to President Donald Trump on his re-election as the 47th President of the United States of America.

President Tinubu looks forward to strengthening the ties between Nigeria and the United States amid the complex challenges and opportunities of the contemporary world.

Bayo Onanuga, Special Adviser to the President, (Information & Strategy) in a statement quoted President Tinubu as saying “Together, they can foster economic cooperation, promote peace, and address global challenges that affect citizens of both countries.

According to President Tinubu, Trump’s victory reflects the trust and confidence the American people have placed in his leadership.
He congratulates them on their commitment to democracy.

President Tinubu believes that, given President Trump’s experience as the 45th president of the United States from 2017 to 2021, his return to the White House as the 47th president will usher in an era of earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.

Acknowledging the United States’ influence, power, and position in determining the trend and course of global events, the Nigerian leader trusts that President Trump will bring the world closer to peace and prosperity.

By Kayode Sanni-Arewa

World leaders from a different nations have taken to social media to congratulate Donald Trump for winning the 2024 Presidential Election.

Trump has secured the required 270 electoral college votes for victory, while winning at least four of the key swing states with Arizona, Nevada and Michigan likely to fall his way in the coming hours and days.

While his Democratic opponent Kamala Harris has not formally conceded defeat, Trump told supporters at Republican party headquarters he had won.

Trump has all but confirmed his place as the next President of the United States, with a number of outlets projecting he will secure the 270 electoral college votes needed for victory.

“Congratulations to President Donald Trump on his election victory,” he said.

“Australians and Americans are great friends and true allies.

Israeli Prime Minister, and long-time Trump backer, Benjamin Netanyahu was even more profuse with his congratulatory message, branding it “a huge victory”.

“Congratulations on history’s greatest comeback!” he said in a statement on X.

“Your historic return to the White House offers a new beginning for America and a powerful recommitment to the great alliance between Israel and America. This is a huge victory!”

By Kayode Sanni-Arewa

The United States dollar has surged as Republican Donald Trump surged to win back the White House in the presidential race.

Bitcoin is also at a record high as traders bet on potential tax cuts, tariffs, and rising inflation under Trump.

The result of the election is expected to have a major impact on the global economy.

The Republican Party has also taken control of the Senate but there are still votes left to count.

The dollar has soared by around 1.5% against a host of different currencies, including the pound, euro and the Japanese yen.

Meanwhile, the value of Bitcoin jumped by $6,000 (£4,645) to a record high of $75,371.69, surpassing the previous high of $73,797.98 in March this year.

In Japan, the benchmark Nikkei 225 stock index ended the session up by 2.6%, while Australia’s ASX 200 closed 0.8% higher.

Experts are predicting a turbulent day for the financial markets as a response to global uncertainty and Trump’s potential plans for the economy.

“Many of his measures will be inflationary and likely to lead to a rise in bond yields, putting pressure on the Federal Reserve in its quest to bring interest rates down,” BBC quoted Lindsay James, investment strategist at Quilter Investors, as saying.

Trump has pledged to make the U.S. the “bitcoin and cryptocurrency capital of the world”.

He plans to put billionaire Elon Musk in charge of an audit of governmental waste.

The major U.S. stock indexes also look likely to open sharply higher. That came after the Dow Jones Industrial Average, S&P 500, and Nasdaq all closed more than 1% higher on Tuesday.

Tesla’s Frankfurt-listed shares rallied over 14% at the open on Wednesday. Elon Musk, Tesla’s top shareholder, has supported Trump throughout his electoral campaign.

Trump has said he would dramatically increase trade tariffs, especially on China, if he became the next U.S. president.

“Trump’s global trade policies are causing particular angst in Asia, given the strong protectionist platform on which more aggressive tariffs on imports into the US have been pledged,” said Katrina Ell, director of economic research at Moody’s Analytics.

The former president’s more isolationist stance on foreign policy has also raised questions about his willingness to defend Taiwan against potential aggression from China.

The self-ruling island is a major producer of computer chips, which are crucial to the technology that drives the global economy.

Meanwhile, Trump’s tax-cutting agenda has also been broadly welcomed by big American companies.

“If Trump gets elected, we should see pro-business policies and tax cuts, in turn possibly driving up inflation and less rate cuts,” said Jun Bei Liu, portfolio manager at Tribeca Investment Partners.

However, not all indexes have reacted positively to the potential of a Trump victory.

In mainland China, the Shanghai Composite Index ended the day down 0.1%, while Hong Kong’s Hang Seng was down by around 2.23%.

Investors also have other key issues to focus on this week.

On Thursday, the U.S. Federal Reserve is due to announce its latest decision on interest rates.

Comments from the head of the central bank, Jerome Powell, will be watched closely around the world.

On Friday, top Chinese officials are expected to unveil more details about Beijing’s plans to tackle the slowdown of the world’s second-largest economy