Nigeria in 1min: Economic, Business and Financial Headlines – 191218

 Wednesday December 19, 2018 / 7:00 AM / Proshare News 

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PROSHARE ECONOMY

Nigerian Economy Gathers Momentum but Additional Policies Required to Achieve Broad-Based and Strong - The real Gross Domestic Product (GDP) report that the National Bureau of Statistics (NBS) published shows that the Nigerian economy gathered more momentum in Q3 2018 than in Q2 2018 and in the corresponding period of Q3 2017.Source Proshare Read More 

We See December 2018 Headline Inflation Rate At 11.8% YoY – FBNQuest - The latest report from the NBS has headline inflation y/y at 11.3% in November. This uptick is very modest compared with October, by just 2bps on this occasion. Source Proshare Read More 

Nigeria’s Water Melon Output Is Only 0.09% of Global Production - The consumption of water melon in Nigeria has increased sharply owing mainly to its health and nutritive qualities. However, Nigeria’s output is only 0.09% of global production i.e. 50,000-100,000 tonnes. Source Proshare Read More 

Oil Prices Crash To 1-Year Lows – OIR 181218 - We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. Source Proshare Read More 

IATA Forecasts $300m Loss For Nigeria, African Airlines In 2019 - The International Air Transport Association says African carriers including those in Nigeria are expected to report a $300m net loss in 2019 despite an expected global airline industry net profit of $35.5bn. Source Punch Read More

Foreign Reserves Gained $1.52bn In Four Weeks - The nation’s foreign reserves rose by $1.518bn from $41.523bn on November 22 to $43.041bn as of December 17, the latest figures from the Central Bank of Nigeria revealed. Source Punch Read More

Ogbeh: Farmers to Hold 40% of Bank of Agriculture - The Minister of Agriculure and Rural Development, Chief Audu Ogbeh, has disclosed that farmers will hold 40 per cent of total shares in the Bank of Agriculture (BoA) by the time its commercialisation is concluded by the Bureau of Public Enterprises (BPE). Source Thisday Read More

NNPC Moves To Acquire 30% Market Share In Petrol Retailing - The Nigerian National Petroleum Corporation (NNPC) is working on increasing penetration in the downstream sector to enable it capture 30 per cent of the retail market in the country. Source Guardian Read More 

Fed Govt Retains $60 Benchmark As Oil Dips To $58 - Brent declined 2.01 per cent to $58.41 a barrel yesterday on the back of global equity sell-offs and continued concerns that the Organisation of Petroleum Exporting Countries (OPEC)/non-OPEC cuts may not be enough to rebalance an oversupplied market. Source TheNation Read More 

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PROSHARE MARKETS

Lafarge Africa Plc Opens Rights Issue; To Raise N89.2bn - Lafarge Africa Plc (“Lafarge Africa”) hereby notifies The Nigerian Stock Exchange of the clearance by The Securities and Exchange Commission (SEC) to open its announced N89.2 billion Rights Issue. Source Proshare Read More

Nigerian Breweries Plc to Appeal the Edo State High Court Judgment of December 12th 2018 - Nigerian Breweries Plc (“the Company”), hereby confirms that an Edo State High Court (“the Court”) sitting in Benin City on the 12th of December, 2018 gave judgment against the Company in a suit filed by one Professor Ernest Izevbigie (“the Plaintiff’).Source Proshare Read More 

Investors Gain N74.93bn as NSEASI Inches up by 0.67% - Equities market closed today on a positive note, as NSEASI appreciated by +0.67% to close at 30,814.19 basis points as against -0.21% depreciation recorded previously. Source Proshare Read More 

DMO to offer N70bn FGN Bonds tomorrow as N100bn FGN Sukkuk Bond Offer Closes -The FGN Bond market remained relatively flat, except for slight sell on the 2027 bond, which was the most actively traded on the day, with yields marginally higher by c.6bps on the ticker. On the average, yields were however unchanged on the day. Source Proshare Read More

Diamond Bank Gains N4.40bn In Market CAP In Two Days - ACCESS Dips By -5.52% As DIAMOND Gains +9.62% - Two days after the news of the potential merger between ACCESS and DIAMONDBNK  was officially confirmed by the two parties involved, market sentiment towards ACCESS seems to be waning while sentiment towards DIAMONDBNK  firms up. Source Proshare Read More

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PROSHARE TECHNOLOGY

Spot Fake AI Companies Quickly – Look Out for the Fake AI Rebrand-We’ve seen a lot of what we call “fake AI rebrands” in the last 18 months, and I suspect that as long as AI is a buzzword, we will only see more and more of this. Source Proshare Read More 

35m Subscribers May Be Disconnected Over N180 Billion Debt Owed By Operators - The Nigerian Communications Commission (NCC) has granted disconnection approval to mobile network operators (MNOs) to disconnect owing colleagues over rise in interconnect debt and failure of the affected operators to pay. Source Guardian Read More 

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PROSHARE FINANCE

Unsettled Claims Now Unsettling Nigeria's Insurance Industry - Every insurance company has, at one time or the other, settled a claim in a way that excited the policyholder (claimant), broker/agent and their employees. Source Proshare Read More 

What Will 2019 Look Like for you as an Investor?-With the New Year in sight, it is normal for every investor including you to feel a bit of apprehension. Source Proshare Read More

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