| All One Min News |    2526 VIEWS  |
| All One Min News | |
| 2526 VIEWS | |
 |
Monday, May 25, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: @NCDCgov
COVID-19 Health Updates
Click Here To Read Latest News Updates
PROSHARE ECONOMY
N1.33trn Generated As IGR in 2019 - NBS - The National Bureau of Statistics Published Internally Generated Revenue at State level for Fourth Quarter and Full Year 2019. The 36 states and FCT IGR figure hits N1.33trn in 2019 compared to N1.17trn recorded in 2018. This indicates a positive growth of 20.92% year on year. Source NBS Read More
Natural Gas: Demand Pressure and Price Plunge hit LNG Revenue - Much has been discussed about the impact of the COVID-19 pandemic on the global economy as well as the Nigerian economy. In addition, the impact on crude oil market has been well documented over the past 2 months. However, the dynamics of the Liquified Natural Gas (LNG) market seems to have fallen under the radar. Source CSL Research Read More
COVID-19, Global Oil Price and The Nigerian Economy - The outbreak of COVID-19 in China dampened China's economic outlook for the year 2020. Efforts to contain the spread of the virus has led to widespread movement restrictions and shutdown of industrial activities. The effect is evident in China's Manufacturing Purchasing Managers Index (PMI), which slipped below the sectoral expansion benchmark of 50 points to 35.7 points in February 2020. Source NESG Read More
Oil and Gas Industry Update - The global oil and gas industry has had a rocky start to 2020, having been hit by several challenges - the most significant of which is the effect of the COVID-19 pandemic on crude oil demand and the sharp decline in crude oil prices. Source KPMG Nigeria Read More
FIRS Establishes Large Tax Office (Non-oil) in Apapa - The Federal Inland Revenue Service (FIRS) has announced the establishment of a Large Tax Office (LTO) (Non-Oil) in Apapa, Lagos ("Apapa LTO") to promote voluntary compliance and ease of paying taxes. Source KPMG Nigeria Read More
Ahead of Tomorrow on WebTV: Discussions on Discourse on Nigeria's Economic Growth Trajectory - Akpan H. Ekpo has a B A(Hons) degree in Economics from Howard University in Washington, D.C., USA and a PhD in Economics from the University of Pittsburgh, Pittsburgh, Pennsylvania, USA. He has received post-doctoral training at Harvard and Oxford Universities as well as the World Bank Development Institute. He has been a member of various Presidential Economic Management teams in Nigeria. Source WebTV Read More
Can Legal
Marijuana Be The New Oil? - Attempts to
achieve export revenue broadening has proved almost futile for Nigeria. Cocoa
for example only fetches a paltry $0.5bn (1% of exports). This is why
exploiting a fast growing legal Cannabis market is considered to be one of many
new creative ideas on revenue diversification. Source FDC Read More
COVID-19: Lessen Workers- Pains With Job Security, Full Wages, NLC Tells Govt - Nigeria Labour
Congress, NLC, has pleaded with governments at all levels of government to
lessen workers' pains over the COVID-19 pandemic by ensuring job security and
payment of full salaries. Source Vanguard Read
More
Many States Will Struggle
With Salary Payments - NESG - Many states in the country will find it difficult
to pay salaries of workers this year as the Federal Government's revenue
projections will be unmet, the Nigerian Economic Summit Group has said. The
NESG, a private sector-led think-tank, said the fiscal effect of the fall in
crude oil price would be enormous with severe sectoral implications for the
country. Source Punch Read
More
Oil, Gas Revenue Dropped by
N425.52bn in Q1 - Minister - The country's revenue from oil and gas dropped by
N425.52bn in the first quarter of 2020 to N940.91bn, Minister of Finance,
Budget and National Planning, Zainab Ahmed, said on Friday. She disclosed this
in her presentation at the National Economic Council's first virtual meeting,
according to a statement by the Senior Special Assistant to the Vice President
on Media and Publicity, Laolu Akande. Source Punch Read
More
Average Prices of PMS, AGO, HHK and Cooking Gas - April 2020 - Average price paid by consumers for premium motor spirit (petrol) decreased by -10.34% year-on-year and month-on-month by -10.01% to N130.84 in April 2020 from N145.40 in March 2020. States with the highest average price of premium motor spirit (petrol) were Jigawa (N140.57), Borno (N140.50) and Taraba (N140.44). Source NBS Read More
Click Here to Read
More News on Economy
PROSHARE MARKETS
What To Expect From The Markets This Week - 250520 - Japan's GDP growth recorded its second consecutive quarterly decline in Q1-20, as the economy effectively nosedived into recession - the country's first recession since 2015. Specifically, the preliminary data showed that Q1-20 growth declined by 0.9% q/q (Q4-19: -1.9% q/q). When annualized, the figure comes to -3.4% q/q, slightly above the consensus estimate of -4.6% q/q. Source Proshare Content Read More
Rising
Inflation And Impending Sukuk Supply Weigh On Bond Trading Activity - It was another fun day for bond bulls, as activities picked
up on the bonds offered at the previous day's auction shrugging off April 2020
inflation figures which dropped today. The 2023s and 2050s were the most actively
traded papers, trading lower the auction stop rates (20bps and 8bps
respectively). Source Zedcrest Capital Read
More
Dangote Cement Plc Q1'20 Unaudited Results - Huge Pan African Loss Masks Strong Domestic Numbers - Dangote Cement Plc (NGSE:DANGCEM) reported a combined profit after tax (PAT) of N60.6 billion (0.6% YoY) in its Q1'20 unaudited results. Despite a robust performance in Nigeria, growth in joint PAT was pegged back by a more than two-fold increase in after tax loss to N48.1 billion in the Pan African operations. Source CardinalStone Research Read More
COVID-19: Zedcrest Group Donates Ventilators and Face Masks to Kano State Government - Kano State's response to the Coronavirus Disease (COVID-19) outbreak received a boost on Thursday, May 21, 2020 as new-age financial solutions powerhouse, Zedcrest Group donated 10 ventilators and 1,500 KN95 face masks to the State government. Source Zedcrest Read More
A Highly Successful Auction for the DMO in May 2020 - The DMO can view the outcome of this week's FGN bond auction with satisfaction. It offered N60bn, raised N296bn (US$770m) on a competitive basis and attracted a total bid of N426bn. Marginal rates moved between 20bps higher for the five-year and 30bps lower for the 15-year. This was the first auction since the DMO's domestic funding target for 2020 was formally raised from N750bn to N1.60trn (Good Morning Nigeria, 18 May 2020). Source FBNQuest Research Read More
Investors Gain N694.91bn WoW as NSEASI Inches Up by 5.59% to Close the Week Positive - Equities market closed today on positive note, as NSEASI appreciated by +1.80% to close at 25,204.75 points as against +1.25% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.10%. Source Proshare Markets Read More
Currencies in Africa: South African rand leads laggards - The outbreak of COVID-19 is expected to halt global growth which has maintained a positive trend over the last 10 years. According to the IMF, the impact of the world-wide lockdown is estimated to result in 3.0% decline in global GDP as the strength of even the most stable economies around the world is put to the test. Source United Capital Research Read More
Benefits of
Crowdfunding as a Source of Capital - In our newsletter last week, we continued our series on Crowdfunding and
highlighted the importance of regulating Crowdfunding as a source of capital
for Start-ups and the possible consequences if the space is left unregulated.
Click here to read more. Source NASD Plc Read
More
Corporate
Earnings For The Week Ending 220520 - 12 in All - Eight (8) out of the Twelve (12) firms declared growth in
revenue. BUACEMENT records 47% growth in earnings to emerge as the firm with
highest growth in earnings while DNMEYER records 19% negative growth in
earnings to emerge as the firm with the least growth rate. BUACEMENT tops with
the highest PAT figure while TRANSCOHOT declared the least with a loss. Source Proshare
Research Read
More
Market Review
and Round-Up of Corporate News Announced During The Week Ending 220520 - The equities market recorded mixed performance - the listed
equities market, NSEASI, recorded +5.59% gain WoW while the NASD OTC also
closed negative with -0.78% loss. Source Proshare Markets Read
More
Drab Trading
Activity As The Markets Reacted To Low System Liquidity - The FGN bond market continued its bullish run to end the
week, as interest shifted away from auction bonds to other papers offered at
attractive levels. We noted slight buy pressure not only on short-dated
maturities (2023s & 2026s) but also on duration extended bonds papers
(2029s and 2049s). Source Zedcrest Capital Read
More
Ardova Plc Q1'20 Unaudited Results - Base Effect Magnifies Earnings Weakness - Ardova Plc (NGSE: ARDOVA) has announced an 85.0% YoY decline in EPS to N0.38/share in its unaudited Q1'20 results. The decline in earnings was magnified by a base effect driven by the huge one-off disposal gain of N2.7 billion recorded in Q1'19. On adjusting for the one-off gain, normalised EPS would be lower by 24.0% YoY. Source CardinalStone Research Read More
Click Here to Read
More News on Markets
PROSHARE BUSINESS
Bank NPLs (7) - Technical Analysis on Banks' NPLs - Profitability - Access Bank had an upward trending PBT between 2009 and 2014. Access bank's highest PBT between 2009 and 2014 was N52.02bn recorded in Q4 2014, while it recorded losses of N10.64bn and N3.9bn in Q3 2009 and Q4 2009 respectively. Source Debtors Africa Read More
NBCC to host
Sessions on Bilateral Relationship, Winning at Business and Real Estate Post
COVID-19 - The Nigerian-British Chamber of Commerce will in
the coming week host various sessions focused on Bilateral Relationship,
Winning at Business and the Real Estate Sector Post Covid-19. Source NBCC Read More
Bank NPLs (9) - Technical Analysis on Banks' NPLs - Liquidity Ratio - Access Bank liquidity ratio recorded in Q4 2019 was +46.4%. In the period under review, Access Bank recorded its highest liquidity ratio of +46.4% in Q4 2019 while its lowest liquidity ratio of +28.2% was recorded in Q2 2019 (see Chart 71). Source Debtors Africa Read More
Dozens of Chinese Companies Added to U.S. Blacklist in Latest Beijing Rebuke - The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China's military. Source Reuters Read More
Japan To End Tokyo's State Of Emergency, Eyes Fresh
$930 Billion Stimulus - Japan will
lift a state of emergency for Tokyo and remaining areas still facing
restrictions on Monday, while the Nikkei reported a plan for new stimulus worth
almost $1 trillion to help companies ride out the coronavirus pandemic. Source Reuters
Read
More
FG Inaugurates NPA, NIMASA Boards Three Months After - Three months after appointing the governing boards
of the Nigerian Ports Authority and the Nigerian Maritime Administration and
Safety Agency, the Federal Government on Friday inaugurated the boards. While
inaugurating the boards of the two government agencies, the Minister of
Transportation, Mr Rotimi Amaechi, called for harmonious working relationship
among its members. Source Punch Read
More
Click
Here To Read More News on Business
PROSHARE TECHNOLOGY
CBi Nigeria to host Webinar focused on Nation Building and Data Management - With the extension of the easing of the lockdown, please ensure you are taking responsibility for your health by keeping safe and abiding by the guidelines of the NCDC, the Federal and State Governments. Source CBi Nigeria Read More
Ahead of Tomorrow on WebTV: Discussions on Deepening Innovation and Technology In Nigeria - Nsikak John has extensive experience supporting African Fintech Startups across Incubation, Venture acceleration, and Consulting. As a Strategy and Innovation leader he has spearheaded the development of an array of mission-critical "disruptive" solutions within the African Tech Space. Source WebTV Read More
Click Here to Read
More News on Technology
PROSHARE FINANCE
Deploying Islamic Finance To Support MSMEs And Vulnerable Nigerians - Babayo Saidu - Islamic Finance if deployed effectively can support the growth and development of Micro, Small and Medium Enterprises and have a far-reaching effect on the poor and vulnerable in the country. Mr. Babayo Saidu, the Chief Operating Officer of SunTrust Bank Nigeria Limited, made the remark while speaking on WebTV's Islamic Finance Weekly program. Source WebTV Read More
FSDH Webinar: Sanwo-olu, El-Rufai, Obaseki Speak On COVID-19 Pandemic and Local Realities - As Global economies begin to explore the options of gradually reopening after several months of COVID-19 induced lockdown, the FSDH Group made up of FSDH Holding Company, FSDH Merchant Bank, FSDH Asset Management, FSDH Capital and Pensions Alliance Limited, hosted a webinar which provided an opportunity for three state Governors H.E Mr Babajide Sanwo-olu (Lagos), H.E Mallam Nasir El-Rufai (Kaduna) and H.E Godwin Obaseki (Edo) shared their perspectives on "Global Pandemic: Local Realities and Peculiarities". Source Ottoabasi Abasiekong for WebTV Read More
Insurance Companies'll
Record Increased Claims From COVID-19 - NIA Chairman - The pandemic
has affected the industry generally from two perspectives. Number one
perspective is that insurance cannot operate in isolation. Since the economy is
not expanding, that means insurance which is part of the larger economy will
equally suffer from that. Source Punch Read
More
Click Here to
Read More News on Finance
WATCH LATEST VIDEO ON PROSHARE WEBTV
Click Here To Watch More Videos
Related News
Signup with Facebook
Signup with Twitter
