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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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Business
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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