Nigeria in 1min: Economic, Business and Financial Headlines - 230819

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Friday, August 23, 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @SECNigeria


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PROSHARE ECONOMY

Cost-reflective Electricity Tariffs Set To Take Effect in July 2020 - The Nigerian Electricity Regulatory Commission (NERC) has revised its Multi Year Tariff Order (MYTO) to reflect expected changes in key variables for 2019 and beyond. Source CardinalStone Research Read More

Average Prices of 1kg of Tomato Decreased YoY By -39.74% to N203.55 in July 2019 - NBS - Selected food price watch data for July 2019 reflected that the average price of 1 dozen of Agric eggs medium size decreased year-on-year by -0.73% and month-on month by -5.45% to N468.31 in July 2019 from N495.32 in June 2019. Source NBS Read More

Average Fare Paid By Commuters For Intercity Journey Increased By 0.76% MoM in July 2019 - The Transport fare watch report for July 2019 covers the following categories namely bus journey within the city per drop constant route ; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport. Source NBS Read More

Strength From Abroad: The Economic Power of Nigerians in Diaspora - Official records indicate that there are 1.24 million migrants from Nigeria in the diaspora (United Nations, 2017). This figure is likely to be higher in 2018 and 2019 with the recent trend in migration from the country. Source PwC Nigeria Read More

NECA Urges Ministers To Partner Private Sector - The Nigeria Employers Consultative Association has called on the newly inaugurated ministers to work with the organised private sector in order to fast-track the nations economic growth. This call came on the heels of the inauguration of the new Federal Executive Council on Wednesday by President Muhammadu Buhari. Source Punch Read More

FG, States, Lgs Shared N770 Billion For July - The Federal Government, states and local councils have shared a total of N769.523 billion from the federation account for the month of July. In a communique at the end of the Federation Accounts Allocation Committee (FAAC) meeting yesterday in Abuja, the Minister of Finance, Zainab Shamsuna Ahmed, said the amount was made up of revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue.  Source Guardian Read More

Government Moves To Recover N614b Loan From States - The Federal Government has apparently begun moves to recover the N614 billion budget support loan it gave to 35 states of the federation. Minister of Finance, Budget and National Planning Zainab Ahmed gave the indication yesterday while briefing State House correspondents following the National Economic Council (NEC) meeting in Abuja. Source Guardian Read More


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PROSHARE REGULATORS

NSE Defers Effective Date of The Rules On Release Calendar For Regulatory Announcement - The earlier announced effective date of the Rules on Release Calendar for Regulatory Announcement and Filings of Listed Companies i.e., Monday, 2 September 2019, has been deferred until further notice. Source NSE Read More

NSE Publishes Derivates Market Rulebook - The Nigerian Stock Exchange (The Exchange or the NSE) is a Securities Exchange and a Self-Regulatory Organisation (SRO) under the Investments and Securities Act (ISA) and is registered as such by the Securities and Exchange Commission (SEC). Source NSE Read More


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PROSHARE MARKETS

Summary of FGN Bond Auction Results For August 2019 - Auction Result for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 14.55% FGN APR 2029 (Re-opening 10-Year Bond) & 14.80% FGN APR 2049 (Re-opening 30-Year Bond). Source DMO Read More

MTNN Grows Market CAP By N753bn Since Listing; DANGCEM Still The Most Capitalized Stock - A quick review of the top five (5) most capitalized stocks listed on the NSE reflected that DANGCEM is still the most capitalized with N2.83trn Market CAP as at August 21st, 2019. Source Proshare Research Read More

Investors Gain N134.62bn As NSEASI Inches Up Further By 1.01% - Equities market closed today on a positive note, as NSEASI appreciated by +1.01% to close at 27,629.66 points as against +1.09% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -12.09%. Source Proshare Markets Read More

JUMIA Q2 2019 Result: Strong Growth Of Topline Drivers As Gross Profit Increases By 94% - Jumia Technologies AG (NYSE: JMIA) (Jumia or the Company) announced today its financial results for the quarter ended June 30, 2019. Source Jumia Read More


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PROSHARE BUSINESS

Markets Doubt Fed's Ability To Defend Economy, Spur Inflation - The U.S. Federal Reserve wanted to do two things when it cut rates for the first time in a decade last month: Support the economy and spark inflation expectations. Source Reuters Read More


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PROSHARE MSME

Unity Bank, Signal Alliance Host SME Clinic - Unity Bank has held the maiden edition of SME Clinic in conjunction with Signal Alliance and Businessday. The event was part of a collaborative initiative to consistently promote Small & Medium Enterprises (SMEs) in the country. The  SME clinic was designed to boost SMEs operators in leveraging effective branding and marketing strategy expected to play key role in creating added value for products and making start-ups become  big brand enterprise. Source TheNation Read More


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