Nigeria in 1min: Economic, Business and Financial Headlines – 210119

Monday January 21, 2019 / 7:00 AM / Proshare News 

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PROSHARE ECONOMY

Surviving Uncertain Times in the Nigerian Financial Market - Uncertainty and gloom has been at the heart of the global economy in 2018 and with sabres rattling and fists pounding it is likely to shape the outcome of world markets in 2019. Source Proshare Read More 

Average Price of 1kg of Tomato Decreased By -7.76% MoM to N294.36 - Selected food price watch data for December 2018 reflected that the average price of 1 dozen of Agric eggs medium size decreased year-on-year by -5.55% and month-on month by -2.26% to N466.97 in December 2018 from N477.76 in November 2018. Source NBS Read More 

Avoidable Oil and Gas Revenue Losses: Breaking the Election Cycle - Like most developing democracies, election periods in Nigeria are typically associated with uncertainties, which generally impede business decisions and slow down economic productivity. Source PwC Read More 

Evaluating Agriculture Finance in Nigeria: Towards The US$1trn African Food Market By 2030 - To maintain its share of the continent’s agriculture GDP by 2030, Nigeria will need to grow its agriculture sector revenues by a compounded annual growth rate (CAGR) of 4.7% annually. Source PwC Read More 

Arid Weather Conditions in Ivory Coast Could Result in Increased Cocoa Prices - Brent is now at $61.27pb, 0.08% lower than yesterday’s price of $61.32pb. However, the weekly trend has been largely positive compared to a bearish December when the average oil price fell to $57.67pb. Source FDC Read More 

Stakeholders at 3rd Vanguard Discourse Harp on Target Driven Human Development Policy - One of Nigeria’s leading print media groups Vanguard Newspapers, today hosted the third edition of its economic discourse in Lagos. Source Proshare Read More 

African Economic Outlook 2019: Growth Projected To Accelerate To 4pct in 2019 – AfDB - This year’s African Economic Outlook examines recent macroeconomic developments and the outlook in Africa, focusing on the implications of external imbalances for growth and the financial and monetary challenges of integration (chapter 1). Source AfDB Read More 

NBCC To Host 2019 Economic Outlook on January 24 - Nigeria’s foremost business group the Nigeria-British Chamber of Commerce is set to host its first breakfast meeting for the year on  Thursday January 24th, 2019. Source Proshare Read More 

NSR H1 2019 (6) - Nigerian Inflation - Boiling Below The Surface - In our H2 18 NSR, we posited that the absence of potential increase in pump prices of premium motor spirit (PMS) and electricity tariff as well as mild moderation in food inflation will drive a downward trend in inflation over H2 2018. Source ARM Research Read More 

5 Key Takeaways from the Nigeria’s December 2018 Inflation - The December, 2018 consumer price index (CPI) latest report released by the National Bureau of Statistics, (NBS) showed an increase by 11.44% which is 0.16% points higher than the 11.28% rate recorded in November 2018. Source Proshare Read More 

FAAC Disburses N812.76bn in December 2018 – NBS - The Federation Account Allocation Committee (FAAC) disbursed the sum of N812.76bn to the three tiers of government in December 2018 from the revenue generated in November 2018. Source NBS Read More 

The 10-Year Challenge and a Comparative Snapshot of Nigeria’s Key Economic Indicators - As the 10 year challenge continues to dominate the social media platforms, with people posting pictures comparing their looks far beyond with 2019, we also captured in a snapshot some of the key economic indicators from 2008 till 2018. Source Proshare Read More

MPC: Considerations and Policy Options: Keeping Policy Rates at Current Levels is Still Prudent - Although the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has kept the policy rates at the current levels since July 2016, FSDH Research believes maintaining rates is still advisable.  Source FSDH Read More 

Oil Rises On Trade Deal Hopes - Oil prices rose on Friday afternoon on trade deal progress and falling OPEC crude oil production in December 2018. Source Oilprice Read More 

55% Of Electricity Consumers Lack Meters — NERC - More than five years after the nation’s power sector was privatised, 55 per cent of electricity consumers are still being subjected to estimated billing. Source Punch Read More55% of electricity consumers lack meters — NERC - More than five years after the nation’s power sector was privatised, 55 per cent of electricity consumers are still being subjected to estimated billing. Source Punch Read More 

CBN May Increase Items On Forex Restriction List To 50 - The Central Bank of Nigeria may increase the items on the foreign exchange restriction list from 42 to 50 in order to boost local production and stimulate the export market. Source Punch Read More

Analysts Rule Out Interest Rate Cut as MPC Meets - As the Central Bank of Nigeria’s Monetary Policy Committee (MPC) commences its first meeting in 2019 today, financial market analysts have ruled out the possibility of a cut in interest rate,  on the eve of the country’s general election. Source Thisday Read More

Merkel to Attend Davos and Discuss Europe, Africa, AI - German Chancellor Angela Merkel will give a speech to the annual World Economic Forum in Davos next Wednesday, before holding discussions on artificial intelligence and Europe the same day, her spokesman said on Friday. Source Reuters Read More

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PROSHARE MARKETS

NEM Insurance Announces Investment By AFIG Funds -NEM Insurance Plc (“NEM” or the “Company”), a leading insurance group in Nigeria announced that Advanced Finance and Investment Group (“AFIG Funds”), a leading African private equity fund manager has, through AFIG Fund II, completed an investment in the Company, by acquiring 29.9% of the Company’s shares from some existing shareholders of the Company (the “Transaction”). Source NSE Read More 

Nigeria’s Equities Market Closes the Week Green as NSEASI Inches up by 3.94% WoW - Equities market closed today on a positive note, as NSEASI appreciated by +1.38% to close at 31,005.17 basis points as against +0.40% appreciation recorded previously. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 180119 - The equities market recorded mixed performance – the listed equities market recorded +3.94% gain WoW while the NASD OTC went down by -0.79% WoW. Source Proshare Read More 

What To Expect From The Markets This Week – 210119 - In a positive turn of events, the ASI recorded positive performances every day of this week for the first time since July 2017 leading to a 394bps gain w/w. Source Proshare Read More 

Bond Yields Retrace Slightly, as Demand Pressures Wane - The Bond market traded on a quieter note in today’s session, with yields retracing by c.5bps avg. from its previous day’s rally. Source Zedcrest Capital Read More 

Access Bank Seeks Regulatory Approval In Respect Of A Proposed N15bn Green Bonds Issuance - Our attention has been drawn to certain reports relating to Access Bank Plc planning to sell N150bn green bonds by 2021. Source NSE Read More 

NASD USI Moved Up By 0.26% WoW - As at close of trade week on 18 January 2019, market Capitalisation increased to ₦541.99 billion from last week's previous ₦540.56 billion, which shows a 0.26% increase in Capitalisation. Also the USI for the week ending 18 January, 2019 recorded a increase from 752.42 points to 754.40 points. Source NASD Read More

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PROSHARE BUSINESS 

Reps Pass Companies and Allied Matters Act Re-enactment Bill -The House of Representatives on Thursday passed the Companies and Allied Matters Act 2018 through the Committee of the Whole. Source The Nigerian Lawyer Read More 

The FRCN Nigerian Code of Corporate Governance 2018 - Sections 11c and 51c of the Financial Reporting Council of Nigeria Act confer upon the Council, the powers to ensure good corporate governance practices in the public and private sectors of the Nigerian economy and to issue the code of corporate governance and guidelines. Source FRCN Read More 

Ecobank Transnational Incorporated Announces the Appointment of Arunma Oteh to Its Board of Director - Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has appointed Ms. Arunma Oteh to its Board of Directors as a Non-Executive Director. Source NSE Read More 

Bank Investors Look Beyond Trading Revenue to Deliver Strong Gains-Wall Street trading desks had a horror-show fourth quarter that dragged on bank results. But investors in big-bank stocks focused instead on gains in lending businesses and improving sentiment around the U.S. economy. Source WSJ Read More

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PROSHARE TECHNOLOGY

Five Key Takeaways from the Recent CBN National Financial Literacy Conference - Worried by the slow pace with which Nigerians have adopted financial services in rural areas and amongst micro, small, and medium-scale enterprises. Source Proshare Read More

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