Nigeria in 1min: Economic, Business and Financial Headlines – 280219


Thursday February 28, 2019 / 7:00 AM / Proshare News



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INEC Declares Buhari Winner of Keenly Contested 2019 Presidential Polls - The Independent National Electoral Commission early this morning declared President Muhammadu Buhari, the candidate of the All Progressives Congress Party as the winner of Nigeria’s 2019 Presidential elections. Source Proshare Read More 

No More Secret Deals - Why a decision in Ukraine this week could change how communities rich in oil, gas, and minerals shape their own destiny. Source Ian Gary* Read More 

Post-election Outlook - President Buhari Emerges Victorious; What Next? - President Muhammadu Buhari has emerged victorious in the 2019 presidential elections— one of the most keenly contested since the beginning of the Fourth Republic in May 1999— winning a total of 15.2 million votes compared to the 11.3 million votes of his main challenger, Atiku Abubakar. Source CardinalStone Research Read More 

Implications of The APC Victory - This morning’s announcement of election results saw the All Progressives Congress (APC) of President Muhammadu Buhari retain the presidency, defeating the challenge from the Peoples Democratic Party (PDP) of Atiku Abubakar. Source Coronation Research Read More 

The $32 Trillion Push to Disrupt the Entire Oil Industry - Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Source Read More 

NPL and Its Effects on Banking Stability: Evidence From National and INTL Licensed Banks in Nigeria - Nonperforming loans (NPLs) and Banking system stability nexus continues to gain more research attention, especially after the 2008/2009 global financial crisis (GFC) that led to credit crisis in most economies. Eonomies that were running on a booming banking sector during pre-crisis period were forced to a sudden credit growth halt in 2008 (IMF, 2012). Source CBN Read More 

Policy Trilemma and Interest Rate Behaviour in Nigeria - Policy makers face trade-off in dealing with exchange rate management, monetary independence and concerns about capital mobility simultaneously. This study empirically examines the effects of Nigeria’s trilemma policy path on interest rate using data spanning from 1997:Q1 to 2017:Q3. Source CBN Read More

How The Media Covered The 2019 Nigeria Presidential Elections - It was a major election with both Foreign and Local Media giving massive coverage of the event. Source Proshare Read More

Debts Exceed Statutory Revenues In 32 States, Says FRC - The consolidated debts of 32 states of the federation exceeded their gross statutory revenues in 2017, a report of the Fiscal Responsibility Commission has shown. Source Punch Read More

Nigeria Loses $18b Yearly To Illicit Financial Flows - The Nigeria Extractive Industries Transparency Initiative (NEITI) has said $18 billion of revenue expected to address the nation’s under-development is diverted yearly in illicit financial flows (IFFs). Source Guardian Read More

How N14.5bn Diversion Controversy Affects Nigeria’s Export Project - The Federal Government’s ‘Made in Nigeria for Export’ (MINE) project has suffered a huge setback following a controversy surrounding alleged plans to divert N14.5 billion from the N20 billion released for its implementation. Source Dailytrust Read More


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FMCG Sector Update -Weaker Volumes, Slower Investments, Elevated Vulnerabilities - Unarguably, Nigeria’s robust demographics, with an estimated population size of 197.0m people accounting for 18.3% of Sub-Saharan African population, remains a strong fundamental attraction to the FMCG sector. Source Afrinvest Research Read More 

Status Report on Union Dicon Salt Plc - In 2014, Union Dicon Salt Plc (Union Dicon or the Company) announced CBO Capital Partners (CBO Capital) as the new core investor and a significant minority shareholder in the Company, affording CBO Capital the right of Management Contract to turn the Company around. Source NSE Read More 

Domestic and Foreign Portfolio Participation in Equity Trading – December 2018 - On a monthly basis, The Nigerian Stock Exchange polls trading figures from major custodians and market operators on their Foreign Portfolio Investment (FPI) flows. Source NSE Read More 

Dangote Cement Declares N390.33bn PAT in 2018 Audited Results; Proposes N16.00k Final Dividend - Although DangCem’s 2018 PBT of N300.8bn came in behind consensus 2018 PBT forecast of N313.2bn, its PAT of N388.4bn surprised positively relative to consensus PAT forecast of N228.0bn. Source NSE With FBNQuest Research Read More 

Investors Respond to Nigeria’s General Elections Outcome; NSEASI Dips By -0.71% - Equities market closed today on a negative note, as NSEASI depreciated by -0.71% to close at 32,244.24basis points as against -0.69% appreciation recorded previously. Source Proshare Read More 

MCG-JSE Joint Media Release: MultiChoice Group lists on the Johannesburg Stock Exchange (JSE) - MultiChoice Group brings leading local and international entertainment and sport content to around 14-million households in 50 African markets, providing viewers with access to content from 8 out of 10 major international studios. Importantly, MCG is differentiated by its production of over 4,500 hours of local content in 10 studios across Africa. Source Naspers Read More 

VFD Group Goes Public, Targets N5bn Bonds - VFD Group has announced its conversion from a company limited by liability to a public company.The Group Managing Director/Chief Executive Officer, VFD Group Plc, Mr Nonso Okpala, stated that the conversion took effect immediately, following the company’s successful raising of N2.8bn through a public offering that saw the number of shareholders increase from 50 to over 120. Source Punch Read More


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Nigeria’s Dangote Tops a Very Short List of African Billionaires - Aliko Dangote’s $17 billion net worth makes the Nigerian the richest person in Africa and the only member of the Bloomberg Billionaires Index from one of the 60 poorest countries. Source Bloomberg Read More 


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Ehimuan-Chiazor: Nigerians Need Affordable Broadband to Access Video Ads - As Google, we collect lots of data and we understand the trends and best practices around video ads and we try in our own way to share with people, some of the trends and developments of the top performance of video ads on YouTube. To answer your question, I will like to look at video as a theme and what video really means to Nigerians and how some short video ads have helped in shaping consumers’ choice of preference. Source Thisday Read More


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LSETF Records 41.7% Of Planned MSMEs Funding – The Lagos State Employment Trust Fund (LSETF) posted 41.7 percent effectiveness in the funding of micro, small and medium enterprises (MSMEs) in the state by 2018, a report of Social Impact Assessment (SIA) of activities of the Fund between 2017 and 2018 has revealed. Source Vanguard Read More 


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