Nigeria in 1min: Economic, Business and Financial Headlines - 161219

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Monday, December 16, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @dabiodunMFR

 

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PROSHARE ECONOMY 

Nigeria's Merchandise Trade Grew In Q3 2019 With Higher Exports And Lower Imports - The value of Nigeria's total trade stood at N9,187.6billion in Q3,2019 representing 6.77% increase over the value recorded in Q2,2019 and 1.33% increase relative to Q3, 2018. Source NBS Read More 

Oando Plc Announces the Successful Signing of Two Gas Supply Agreements with NLNG - Oando PLC (referred to as "Oando" or the "Group"), Nigeria's leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, through its upstream subsidiary, Oando Energy Resources, today announced the successful signing of two Gas Supply Agreements (GSA) with the Nigeria Liquefied Natural Gas Ltd (NLNG).Source Read More

The Oil Bulls Are Back Despite Bearish Fundamentals - OIR 131219 - Oil jumped on Friday after the UK election and the announcement of a "Phase One" trade deal between the U.S. and China. Both issues offered some certainty to investors. In early trading on Friday, WTI was at about $60 per barrel, a three-month high. Source Oilprice Read More

Weekly Economic and Financial Commentary - Week Ended Dec 13, 2019 - The bulls resurfaced in the NTB market, with average yield declining 101bps to close the week at 6.28% amid pent up system liquidity. The lower yields stemmed from increased demand across tenors, with the short-tenor bills declining the most by 140bps WoW. Source ARM Read More

The Ease of Getting Credit Reforms in Nigeria - Nigeria rose 15 places in the World Bank Doing Business Report 2020 to 131st position out of 190 countries surveyed. This means that Nigeria has advanced by 38 places over the last three years since 2016 when it was 169th on the global ranking. Source Ajibola Alfred Read More

Nigeria's Long Term Economic Development Strategy: A Primer on Re-Orientation and Coordination - This was written with the hope that Nigeria will soon embark on the development of a long-term economic blueprint to serve as a guide and provide focus in shaping the future of Nigeria from hereon. Source Ajibola Alfred Read More

NNPC Posts N5.2bn Surplus - The Nigerian National Petroleum Corporation on Sunday announced a trading surplus of N5.2bn for August, reflecting an increase of 22 per cent when compared with the N4.26bn surplus posted in July. Source Punch Read More

Dangote Refinery'll Help Nigeria Save $10bn Forex - Minister - The Minister for Finance, Budget and National Planning, Mrs Zainab Ahmed, said on Sunday that the refinery being built by Dangote refinery in Lagos would help the country save N10bn foreign exchange when completed. Source Punch Read More

 

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PROSHARE MARKETS 

What To Expect From The Markets This Week- 161219 - There were positive returns recorded in several markets across the globe, as U.S.-China trade hopes and an election win for Britain's 'Brexit'-backing Conservative Party, cleared two of the clouds on the global investment horizon. Source Proshare Read More 

Investors Lose N154.12bn WoW As NSEASI Dips By -1.19% To Close The Week Negative -  Equities market closed today on a negative note, as NSEASI depreciated by -0.13% to close at 26,569.80 points as against +0.51% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.57%.  Source Proshare Markets Read More 

SSA Growth Story: Unsynchronized - The economic growth in Sub-Saharan Africa (SSA) region remained positive in 2019, though, dragged by the weak growth posted by regional heavyweights Nigeria, South Africa, and Angola. Source United Capital Research Read More 

NASD OTC Market CAP Increased By 0.14% WoW To Close At N498.04bn - As at close of trade week on 12 December 2019, market Capitalisation increased to N498.04 billion from last week's previous N497.33 billion, which shows a 0.14% increase in Capitalisation. Also the NSI for the week ended 12 December 2019 recorded an increase from 692.24 points to 693.22 points. Source NASD Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 131219 - The equities market recorded mixed performance - the listed equities market recorded -1.19% loss WoW while the NASD OTC recorded +0.14% gain WoW. Source Proshare Read More 

Naira Depreciation To Persist As Reserves Drops To 2yr Low - In the I&E window, the indicative exchange rate rose to N363.49 per dollar, last week from N363.14 per dollar the previous week, representing 35 kobo depreciation for the naira. Meanwhile, closing exchange rate of N363.49 per dollar represents the highest since August 8th, when the I&E window closed at N363.44 per dollar. Source Vanguard Read More 

Nigeria's Investment Funds Hit N993b - Total net asset of collective investment schemes and funds in Nigeria has risen by N348 billion to N993 billion, an increase of about 54 per cent in a year. Official reports coordinated by Nigeria's apex capital market authority, Securities and Exchange Commission (SEC), indicated increasing recourse to formal fund management by Nigerians but most Nigerians appeared to favour less risky, interest-yielding fixed-income financial assets. Source TheNation Read More

 

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PROSHARE BUSINESS 

Sanctity of Contracts, Key To Attracting Capital Investments Into Nigeria - Soji Apampa - At the recent Convention on Business Integrity Regulatory Conversations 5.0 in partnership with Action Aid UK with the theme "National Integrity Barometer: A Roadmap For 2020", Mr. Soji Apampa, the CEO of the Convention on Business Integrity, CBi Nigeria gave his thoughts on the subject "Sanctity of Contracts as a Critical Driver of Foreign Capital Investments Into the Nigerian Economy." Source Proshare Read More 

Proshare's Olufemi Awoyemi Receives 2019 Institute of Service Excellence Award- Chairman of Proshare Nigeria Limited, Mr. Olufemi Awoyemi, FCA, a financial information entrepreneur and analyst, has recently been honoured with an award by the Institute of  Service Excellence and Good Governance, Nigeria. Source Institute of Service Excellence Read More

Bankers' Committee Tackles Cyber Risks As Fraud Statistics Hit N18.94b - Speaking at the weekend at the 2019 Bankers' Committee retreat in Ogere, Ogun State, CBN Governor Godwin Emefiele urged banks to invest in technology to tackle fraud and reduce revenue losses to fraudsters. Source TheNation Read More 

U.S. Exports To China To Nearly Double In 'Totally Done' Trade Deal: Lighthizer - The "phase one" U.S.-China trade deal will nearly double U.S. exports to China over the next two years and is "totally done" despite the need for translation and revisions to its text, U.S. Trade Representative Robert Lighthizer said on Sunday. Source Reuters Read More 

Abu Dhabi's Go-To Man Builds $229 Billion Fund for Post-Oil Era - For an Emirati who's not a member of Abu Dhabi's ruling royal family, Khaldoon Al Mubarak is remarkably influential. Photos of him with Barack Obama and Donald Trump decorate his desk. Around the time of our interview with him in October, he'd hosted Russian President Vladimir Putin and caught up with former U.S. Secretary of State John Kerry and retired U.S. Army General David Petraeus. Source Bloomberg Read More

 

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PROSHARE FINANCE

Total Pension Assets Rise To N9.8tn - According to the commission, a total of N6.91tn or 70.43 per cent of the funds has been invested by the Pension Fund Administrators in the Federal Government of Nigeria's securities, including FGN bonds, treasury bills, agency bonds, Sukuk bonds and green bonds. Source Punch Read More 

 

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