Nigeria in 1min: Economic, Business and Financial Headlines – 220119


 Tuesday January 22, 2019 / 7:00 AM / Proshare News



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African Markets Still Depressed - Africa stock markets in 2018 generally slid downwards as global economic headwinds adversely affected commodity exports and fiscal revenues. West and South African economies broadly dipped as East African economies gave mixed outlooks. Source Proshare Read More 

Review of Key Developments in the Nigerian Economy Week 3 of 2019 - It was an eventful third week of Nigerian Economy and we present the key developments that occurred during the week. Source Proshare Read More 

NSR H1 2019 (7) - Monetary Policy - Maintaining the Narrative - In our H2 18 strategy outlook, we outlined our expectation for a halt in the downtrend in OMO rates as apprehension towards budding system liquidity and capital reversal threatens FX stability. Source ARM Research Read More 

2019 World Economic Outlook - A Weakening Global Expansion - The global expansion has weakened. Global growth for 2018 is estimated at 3.7 percent, as in the October 2018 World Economic Outlook (WEO) forecast, despite weaker performance in some economies, notably Europe and Asia. Source IMF Read More 

January 2019 MPC: 5 Key Things To Watch - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) is holding its two-day meeting (January 21st and 22nd, 2019) to take decisions on the nation’s interest rate, money supply, and inflation rate amongst other macroeconomic indicators. Source Proshare Read More 

New Minimum Wage: FG May Increase Tax Rates, To Introduce New Ones In 2019 –PwC - The Federal Government may be compelled to increase tax rates or introduce new ones in 2019 as part of strategies to meet its financial obligations under the new minimum wage. Source Sun Read More 


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SEC, NIPC Collaborate to Attract Investors -The Securities and Exchange Commission has restated its commitment to partner with relevant government agencies and the private sector to attract more investments to the country in a bid to further boost the economy. Source SEC Nigeria Read More

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Why Private Investment Works and Government Investment Does Not - In 2011, a solar power company called Solyndra declared bankruptcy. A company going bankrupt is not news. Source Prager University Read More

Global Market in Tumbles - Global stock markets generally fell in 2018 as a shrinking global economy, heightened tensions amongst leading trading partners in America, Asia and Europe and festering political anxiety in a number of emerging markets has led to slower economic growth rates and tumbling stock prices worldwide. Source Proshare Read More 

Money Market Rate Decreased as Overnight Rate fell to 16.17% -The money market rate decreased last week as the Overnight rate (OVN) and Open Buy Back (OBB) fell to 16.17% and 15.33% respectively. Source Anchoria AM Research Read More 

NSE, Afrinvest Launch Factor Equity Indices to Optimize Investors Returns -The Nigerian Stock Exchange (“the Exchange” or “NSE”), a multi-asset exchange & index provider, and Afrinvest Securities Limited (“ASL”), a leading capital market research and securities execution platform, are pleased to announce the launch of two new factor indices. Source NSE Read More 

Afrinvest Stock Recommendation for The Week 210119 -The domestic equities market maintained a bullish performance last week as the All Share Index gained 3.9% W-o-W to settle at 31,005.17 points while YTD loss moderated to -1.4%. Source Afrinvest Research Read More 

Nigerian Stock Market Opens the Week On A Negative Note as NSEASI Dips By -0.88% -Equities market closed today on a negative note, as NSEASI depreciated by -0.88% to close at 30,732.72 basis points as against +1.38% appreciation recorded previously. Source Proshare Read More 

Refinery: FG Will Source Forex from Dangote – CBN Gov -The Federal Government will soon start sourcing foreign exchange (forex) from Dangote Group, as soon as the latter's refinery, petrochemicals and fertilizer projects come on stream. Source News Read More 

Offshore Demand Keeps T-bill Yields Moderated as Funding Rates Soar - The Bond market remained slightly bearish opening the week, with yields expanding by c.7bps on average following slight selloff on the 20s and 27s. We also noticed slightly improved offers on the short and mid tenors. Source Zedcrest Capital Read More 


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Proshare’s 2018 Review and 2019 Outlook Page Now Live - As 2019 unfolds, insights into past events help one plan ahead for future events. While, analysts, researchers, corporates, small & medium scale enterprises and investors anticipate Nigeria’s General Election in February 2019, various predictions have been made and many seek to know what to expect in order to plan ahead. Source Proshare Read More 

TVC News Flies High at the NMMA, Wins Best TV Station of the Year - For its invaluable contribution towards the deepening of Nigeria’s broadcasting industry, TVC News, a member of TVC Communications, was awarded the NBC Prize for the “Best Television Station of the Year” at the 26th Nigerian Media Merit Awards (NMMA). Source TVC Station Read More 

Samsung Invests $400m In Nigeria’s Oil & Gas Sector - Global shipbuilding firm, Samsung Heavy Industries (SHI) has committed over $400 million as tax revenue and investment in Nigeria’s oil and gas sector. Source Dailytrust Read More  

PM May Tries To Tweak Defeated Brexit Plan, Refuses To Rule Out No-Deal - British Prime Minister Theresa May sought to break the parliamentary deadlock over Brexit on Monday by proposing to seek further concessions from the European Union on a plan to prevent customs checks on the Irish border. Source Reuters Read More

China's Fourth Quarter GDP Growth Dented By Services, Agriculture Despite Construction Rebound - Weakness in the service and farm sectors slowed China’s economic growth in the fourth quarter, despite a strong pickup in construction activity, official data showed on Tuesday. Source Reuters Read More

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Facebook’s WhatsApp Fights Fake News by Curbing Message Forwarding-Facebook Inc.’s WhatsApp messaging service is limiting users’ ability to forward content, seeking to curtail ways the popular platform allows the spread of misinformation and sometimes has led to violence. Source WSJ Read More

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Nigerian Universities Should be at the Forefront of Producing Patents - Prof Ibidapo Obe- Nigerian Universities have been challenged to produce patents which will increase their value in research and development, and position them as competitive institutions of learning globally. Source Proshare Read More

8.41m Workers Join New Pension Scheme - No fewer than 8.41 million workers from both public and private sectors have now joined the new pension scheme known as the Contributory Pension Scheme (CPS). Source Leadership Read More 

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