Nigeria in 1min: Economic, Business and Financial Headlines – 170719

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Wednesday, July 17, 2019 / 06:35 AM / By News Aggregator / Header Image Credit: WebTV

 

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PROSHARE ECONOMY 

The CBN Pushes The Growth Pedal - We are accustomed to the Central Bank of Nigeria (CBN) limiting Naira liquidity for fear of upsetting the foreign exchange market. Now the CBN is unafraid of liquidity and is pushing growth – for now. Fixed income rates are falling. Source Coronation Research Read More 

Headline Inflation Bucked Its 2-Month Rising Trend in June - Contrary to expectations, the headline inflation for the month of June declined more than anticipated by 0.18% to 11.22%, reversing the rising trend that commenced in Q2. Just like headline inflation, all other subindices declined. Source FDC Read More

Nigeria’s Total Public Debt Stood At N24.97trn in Q1 2019 - NBS - Nigerian States and Federal Debt Stock data as at 31st March 2019 reflected that the country's total public debt portfolio stood at N24.95trn. Source NBS Read More

Sugar Prices To Trend Upward Due To Lower Output From Thailand - Global sesame seed consumption is rising exponentially due to its health and nutritional benefits. Nigeria is the largest producer in SSA and fourth in the world. It produces 550,000mt of sesame seeds a year, generating over $750 million in revenues. Source FDC Read More

Infrastructure Deficit May Cost Nigeria $878 Billion By 2040 - It has been projected that government’s continued neglect of the nation’s infrastructural development would lead amount to a huge deficit of $878 billion by the Year 2040. Besides, successive governments in the last 40 years have neglected its development. Source Guardian Read More 

 

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PROSHARE MARKETS

NSEASI Dips Further By -0.49% As Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by 0.49% to close at 28,200.88 points as against 0.79% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -10.28%. Source Proshare Markets Read More

CBN Intervenes In Forex Market With $210m - The interbank segment of the Foreign Exchange Market has received a fresh boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, July 16, 2019. Source CBN Read More 

 

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PROSHARE BUSINESS

NSE Inducts 46 Newly Authorized Dealing Clerks - The Nigerian Stock Exchange (NSE) on Monday, July 15, 2019, inducted 46 recently qualified Dealing Clerks charging them to uphold the highest level of ethics and sense of responsibility. Source NSE Read More

Lagarde Formally Resigns Appointment At IMF - In a statement released on Tuesday, Lagarde said her resignation will be effective from September 12. The 63-year-old was appointed to lead the Bretton Wood institution in 2011, but got re-elected for a second term in 2016. Source Thesun Read More

Inflation Gap a Reminder to Nigeria That Egypt Got It Right - One of the clearest signs that Egypt is starting to reap the economic benefits of a currency float almost three years ago came last week. Nigeria, which took a different path when faced with similar problems, is still struggling. Source Bloomberg Read More

MAN Outlines Safeguards For Post- AfCFTA Ratification - Local manufacturers have outlined some of the pre-conditions and safeguards given to the Federal Government as part of measures to maximise the potential benefits of the African Continental Free Trade Area (AfCFTA) deal, having signed the agreement. Source Guardian Read More

Smallholders’ Farmers Get FG’s N120bn Loan - A total of 720,000 small-holder farmers have received credit facility totalling N120.6bn through the Central Bank of Nigeria’s Anchor Borrowers’ Programme, Vice-President Yemi Osinbajo has said. The Vice President also hinted about the government’s plans to extend more agricultural credit to farmers in the South to encourage more people to engage in mechanised farming. Source Punch Read More

 

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PROSHARE TECHNOLOGY  

Nigeria Is Almost Ready For 5G Technology, NCC Says - With more than 33 percent broadband penetration, hundreds of kilometres of fibre cables laid across the country, about five Infrastructure Companies (Infracos) licensed and a 70 percent broadband target in few years’ time, Nigeria is almost ready for the latest telecom technology – 5Generation, the Nigerian Communications Commission (NCC) has said. Source Dailytrust Read More


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