Nigeria in 1min: Economic, Business and Financial Headlines – 030918


Monday, September 3, 2018 / 7:50 AM / Proshare News



What To Expect From The Markets This Week - 030918 - The total number of individuals registered under the Pension Asset and Scheme Act stood at 8.13 million at the end of the second quarter of 2018, reflecting a 7.11% increase compared to the previous quarter. The rise in membership was largely due to an increase in state and private membership by 5% and 3%, respectively. Source Proshare Read more 

Manufacturing PMI Stands at 57.1% In August 2018 from 56.8% in July 2018 - The August 2018 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period August 9-17, 2018. Source Proshare Read more 

Weekly Economic and Financial Commentary – WE 31st August, 2018 - In the United States, the federal reserve’s preferred price index – Personal Consumption Expenditures (PCE) – rose 2.3% YoY in July (vs. 2.2% YoY in June), its fastest pace in six years, pushed by higher consumer spending and rising energy costs. Source Proshare Read more 

Nigeria’s Economic Outlook For September 27, 2018 - Conference Registration - Economic Associates (EA) will host a one-day conference on Nigeria’s Economic Outlook on Thursday, 27 September 2018 at Lagos Continental Hotel, Kofo Abayomi Street, Victoria Island, Lagos. Source Proshare Read more 

NCAA gets N14.3b from ticket sales - The Nigerian Civil Aviation Authority (NCAA) yesterday said N14.339 billion was generated from the mandatory Ticket Sales Charges (TSC) between January and August this year. Source Guardian Read more 

Vessels’ Traffic At Nigerian Seaports Drop By 2.3% In Q1 - Vessels call at the Nigerian ports have dropped in the first quarter of 2018 by 2.3 per cent according the performance report of the Nigerian Ports released by the Nigerian Ports Authority (NPA). Source Leadership Read more 

FG okays $1.3bn for Lagos-Ibadan Expressway, four other projects - The Federal Government has set aside $1.3bn (about N468bn) from the National Sovereign Investment Fund to finance five critical infrastructure projects. Source Punch Read more 

PFAs invest N11.36bn in infrastructure, eye airport projects - The Pension Funds Administrators have continued to raise their investments in infrastructure even as they move to extend their investment tentacles to the nation’s airports as assets under their management increase, NIKE POPOOLA reports Source Punch Read more 

Nigeria spends $2bn annually on honey importation - Nigeria spends over $2bn annually on the importation of honey, the Federal Government has said. Source Punch Read more 

Nigeria Loses N6.5trn To Absence Of National Shipping Line - The Nigerian economy has lost about $18 billion (N6.48 trillion) at prevailing rate of 360/$) in four years to domination of Nigerian shipping industry by foreigners due to absence of a national shipping line in the country. Source Leadership Read more

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Market Review and Round-Up of Corporate News Announced During The Week Ending 310818 - The equities market recorded positive performance – the listed equities market recorded -1.63% loss WoW while the NASD OTC also went down by -0.24% WoW. Source Proshare Read more 

Corporate Earnings for the Week Ending 310818 – ACCESS Declares N39.63bn PAT in Q2 2018 Results - All the firms declared growth in revenue as UBA records with 21% growth in earnings to emerge as the firm with highest growth in earnings Source Proshare Read more 

Bond Market Closes the Month Bearish as EM Pressures Persist - The Bond market closed the month on a bearish note, with continued selloffs pressuring yields higher by c.8bps across the curve. We witnessed the most selloffs on the 2026s which was sold off to 15.26%. Source Proshare Read more 

MTN Nigeria, Banks and CBN Action – An Update and Initial Commentary - During the week, MTN Nigeria was sanctioned by the Central Bank of Nigeria (CBN) over allegations of impropriety in the repatriation of funds from Nigeria. Please find below highlights of the story: Source Proshare Read more 

71 coys paid N797bn dividend in half-year 2018 - An analysis of the 71 companies that have so far declared dividend for both 2017 final dividend and interim dividend for half year 2018 has shown that a total of N797 billion was paid by the companies in the period under review. Source Daily Trust Read more

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Communiqué of the 58th Annual General Conference of the NBA - The 58th Annual General Conference of the Nigerian Bar Association (NBA) held at the International Conference Centre, Abuja, Nigeria from the 26th to the 30th Day of August 2018 under the theme “TRANSITION, TRANSFORMATION AND SUSTAINABLE INSTITUTIONS.” Source Proshare Read more 

China's TBEA to invest in 180 mln euro Gabon hydropower project - Gabon official - Chinese energy firm TBEA will invest in a 180 million euro ($209 million) hydropower project in Gabon alongside the West African country’s sovereign wealth fund, a Gabonese official said on Saturday. Source Reuters Read more 

Ghana Signs Accords With China Ahead of Summit in Beijing - Ghana signed eight cooperation agreements with China following talks between the two nation’s leaders in Beijing ahead of the Forum on China-Africa Cooperation that starts Monday. Source Bloomberg Read more 

China Selloff Casts Foreigners in Unusual Role as Market Bulls - A dismal year for China’s stock markets has given rise to an unusual situation: Foreign institutions seem more optimistic about prospects for the country than local investors. Source WSJ Read more 

Tunisia govt raises fuel prices, fourth hike this year - Tunisia’s government raised fuel prices on Saturday by about 4 percent, the fourth hike this year, in an effort to rein in its budget deficit and meet reforms requested by the country’s international lenders. Source Reuters Read more 

Algeria's energy earnings in first seven months of year halve trade deficit -customs data - Algeria’s energy earnings rose 15.23 percent in the first seven months of this year from the same period in 2017, reducing the trade deficit by 53.5 percent, official data seen by Reuters showed on Sunday. Source Reuters Read more 

China August manufacturing growth slows to 14-month low: Caixin PMI - China’s manufacturing activity grew at the slowest pace in more than a year in August, with export orders shrinking for a fifth month and employers cutting more staff, a private survey showed on Monday. Source Reuters Read more 

Oil falls on rising output from OPEC and United States - Oil prices fell on Monday amid rising supply from OPEC and the United States, outweighing concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November. Source Reuters Read more

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AfDB seeks $3.3bn for women, youth entrepreneurs - AfDB seeks $3.3bn for women, youth entrepreneurs - The AfDB which disclosed in a statement made available to our correspondent in Abuja on Sunday said this was in furtherance of Adesina’s conviction that the future of food in the world depended on what Africa could do with agriculture. Source Punch Read more

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Nigerian Online Trading Portals Ranking Report:5 Takeaways - Proshare Nigeria’s leading financial information and market intelligence hub, yesterday released the 2018 edition of the Nigerian Online Portal Ranking Report. Source Proshare Read more 

Nigeria to Sign MOU with China on $328m Funding of NICTIB Phase II  - As part of the six (6) day working visit of President Muhammadu Buhari to China this week, Nigeria will sign a memorandum of understanding, MOU valued at $328m for the funding of its National Information & Communication Technology  Infrastructure Backbone Phase II project. Source Proshare Read more

Customers Withdraw N3.17trn From ATMs In 6 Months -  The number of individuals with bank accounts in Nigeria have increased by 7.5 per cent as customers withdrew N3.17 trillion from 17,808 Automated Teller Machines across the country. Source Leadership Read more 

CBN cleared MTN, 4 banks to transact on now flagged CCIs in 2017 - The Certificate of Capital Importation (CCI) saga between the Central Bank of Nigeria (CBN) on one hand and MTN Nigeria limited and four banks on the other, seemed to have been settled early last year, according to a letter seen exclusively by BusinessDay. The letter from the CBN addressed to the chief executive officer (CEO) Source BUSINESSDAY Read more


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