Nigeria in 1min: Economic, Business and Financial Headlines - 150120

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Wednesday, January 15, 2020  / 06:45 AM / By News Aggregator / Header Image Credit: @dabiodunMFR

 

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PROSHARE ECONOMY 

Small Decline in the Current-Account Deficit Q3 2019 - Nigeria's current-account deficit narrowed in Q3 from a revised -3.3% of GDP the previous quarter to -2.3%. The narrowing was the result of a stronger performance on trade.  Source FBNQuest Research Read More 

Global Economic Slowdown Pressured Commodity Performance in 2019 - Globally, commodity prices have witnessed wide fluctuation as the combined effects of trade wars, geopolitical tensions and the global economic slowdown pressured commodity performance in 2019.  Source AFEX Read More 

NSR H1 2020 (4) - Commodity Prices - Contrasting Fortunes for Global Soft Commodity Market - Over the 2018/19 market year, the S&P GSCI Agricultural index declined 3.31%. In line with our expectations, wheat which makes up 21.14% of the index, was down over its market year (MY). Moderation in wheat prices (-2.94%) outweighed the uptick in sugar prices (+2.89%) as sugar accounts for 19.45% of the S&P GSCI index. Source ARM Research Read More 

NSR H1 2020 (3) - Global - After a Slowdown in 2019, 2020 Growth Receives a Timely Boost - Over 2019, global growth is poised to moderate to 3% (FY18: 3.6% YoY) stemming from a slowdown in both advanced and emerging markets. In the advanced economies, the effect of the US-China trade war on external sector and domestic demand, as well as dampened business investment in the U.K borne out of BREXIT uncertainty, forms the basis for a slowdown.  Source ARM Research Read More 

NSR H1 2020 (2) - Crude Oil - Tug of War; the Bears Win - At the start of H2 2019, we had an average Brent crude oil price base-case forecast of $59/bbl., which was lower than the HI 2019 average price of $66/bbl. Our forecast was hinged on our expectation for an expansion in the markets surplus position of 63kbpd (H1 19: 19kbpd) as the US ramped up crude production and compliance levels by some members of the OPEC+ dwindled. Source ARM Research Read More 

Transportation Investments and Diversification of Nigerian Economy - Located in West Africa along the Atlantic Ocean's Gulf of Guinea, Nigeria is a country whose land borders are Benin to the west, Cameroon and Chad to the east and Niger to the north. Source Read More 

The 4th Mainland Bridge in Lagos: What Has Gone Wrong and Why - Africa Finance Corporation (AFC) were approached by the Pastor Iluyomade who owns a company called Visible Assets, in partnership with Access Bank. An MoU was signed between all these parties and Lagos State Government (LASG) in March 2016 to be valid for six months.  Source Read More 

Small Decline in the Current-Account Deficit Q3 2019 - Nigeria's current-account deficit narrowed in Q3 from a revised -3.3% of GDP the previous quarter to -2.3%. The narrowing was the result of a stronger performance on trade. Our chart shows some marked swings because the Nigerian national accounts are not seasonally adjusted. Source FBNQuest Research Read More 

Oil Traders Obsess Over Weak Demand and Oversupply - OIR 140120 - Oil prices erased all of the gains accrued after the U.S.-Iran clash, and prices have even fallen below levels seen prior to the Soleimani assassination. With war apparently off the table, at least for now, the market has shifted its sights back to weak demand and oversupply. Source Oilprice Read More

World Bank Lists 40 Economies With Reforms On Women Empowerment -  The regulatory environment for women's economic participation has improved over the past two years, but Nigeria is missing mention among 40 countries that enacted 62 reforms that will help women. Source Guardian Read More

Buhari Inaugurates Lagos-Ibadan Railway In May, Says Amaechi - The Minister of Transportation, Rotimi Amaechi, on Tuesday said the President, Major General Muhammadu Buhari (retd.), could inaugurate the Lagos-Ibadan railway in May.Am aechi, who said this on a live television programme monitored in Abuja, noted that the Federal Ministry of Transportation had been working hard to see that the project was set for inauguration in April. Source Punch Read More


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PROSHARE MARKETS 

NSE Targets 2020 To Launch Growth Board - The Nigeria Stock Exchange has targeted the year 2020 to achieve the launch of its Equity Growth Board. The Growth Board represents a group of small to medium-sized companies listed, or with prospects of listing, on the Exchange that exhibit the potential for fast growth in their share values as a result of fast-paced turnover and earnings growth usually not lower than 15% per annum. Source WebTV Read More 

Treasury Bill Auction Holds On Wednesday Jan 15th, 2020 - A primary auction of Nigerian Treasury Bills will take place on Wednesday, January 15th, 2020. Source Arthur Stevens Asset Mgt Read More 

Investors Lose N180.76bn As NSEASI Halts Uptrend; Dips By -1.18% - Equities market closed today on a negative note, as NSEASI depreciated by -1.18% to close at 29,283.15 points as against +0.74% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +9.09%. Source Proshare Markets Read More 

NSE Targets 2020 To Launch Growth Board - The Nigeria Stock Exchange has targeted the year 2020 to achieve the launch of its Equity Growth Board. The Growth Board represents a group of small to medium-sized companies listed, or with prospects of listing, on the Exchange that exhibit the potential for fast growth in their share values as a result of fast-paced turnover and earnings growth usually not lower than 15% per annum. Source WebTV Read More 

DMO To Raise N510bn From Bonds In Q1, 2020 - The debt office in its bond issuance calender for the first quarter of the year said it plans to raise the funds from reopening of previous bonds. According to the calendar, between N135 billion and N165 billion is expected to be raised from the reopening of the 12.75 per cent FGN APR 2023 five year bond within three months. Source Leadership Read More


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PROSHARE BUSINESS 

AfCFTA Will Industrialize Africa - Kunle Elebute - The Africa Continental Free Trade Agreement (AfCFTA), if well implemented, has the potential of Industrializing the continent. Mr. Kunle Elebute, Senior Partner KPMG Nigeria and Chairman of KPMG Africa, made the statement at the closing ceremony of the 5th Africa Academy of Management Conference in Lagos. Source WebTV Read More 

Lekoil's Shares Suspended from AIM Market After Revealing $600,000 Alleged Scam - Lekoil, a London-listed Nigerian company has had its shares suspended after revealing alleged scam relating to a $600,000 it gave as consultancy to a company that promised to help arrange loan from Qatari Investment Authority (QIA). Source The Guardian Read More

China To Ramp Up U.S. Buys Under Trade Deal, But Skeptics Question Targets - China has pledged to buy almost $80 billion of additional manufactured goods from the United States over the next two years as part of a trade war truce, according to a source, though some U.S. trade experts call it an unrealistic target.  Source Reuters Read More

FG Hopeful Of Ajaokuta's Resuscitation By 2022 After Spending $6bn - Barring unforeseen circumstances, the Federal Government is hopeful that the Ajaokuta Steel Mill will become operational by 2022, after many decades of inactivity and over $6 billion in investment. Source Guardian Read More

Reps Ask NERC To Suspend Electricity Tariff Hike - The House of Representatives Committee on Power has asked the National Electricity Regulatory Commission (NERC) to suspend the planned increase in electricity tariff. Source Leadership Read More

Lekoil Shares Suspended After Qatari Loan Queried - London-listed oil producer Lekoil on Monday said it had fallen victim to an alleged fraud after paying a middleman to facilitate a bogus loan agreement from one of the world's largest sovereign wealth funds. Source FT Read More


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PROSHARE FINANCE

How Takaful Will Deepen Insurance Industry In 2020 - Ekerete Ola-Gam Ikon - In a recent interview with WebTV management expert and consultant on insurance Mr. Ekerete Ola Gam shared his perspective on the four Takaful Insurance licensed by the National Insurance Commission (NAICOM) and the 2020 outlook for the industry in Nigeria.  Source WebTV Read More

 

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