Nigeria in 1min: Economic, Business and Financial Headlines - 240120


Friday, January 24, 2019 / 7:00 AM / By News Aggregator / Header Image Credit: @ProfOsinbajo


Click Here To Read Latest News Updates



Average Intercity Fare Increases By 1.43% MoM To N1, 666.57 In December 2019 - The Transport fare Watch report for December 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 

NSR H1 2020 (11) - Fixed Income - Liquidity Surfeit to Keep Yields Subdued - In this morning's cut-out of our core strategy document - The Nigeria Strategy Report, we look at the major themes that dominated the fixed income space over H2 2019 and delineate our outlook over 2020. Source ARM Research Read More 

MPC Preview: Dovish Stance but Hawkish Actions - Regardless of one's position on the Central Bank of Nigeria (CBN) heterodox policies, the CBN did achieve a handful of objectives in 2019. Private sector credit expanded to N16.8 trillion as at November 2019, increasing by 1.6 trillion and N1.7 trillion when compared to January and June 2019 respectively. Source NOVA Merchant Bank Read More 

FG Pumps N1.7tn Into Privatised Power Companies - Despite privatising the power sector, the Federal Government has spent over N1.7tn on the sector in the last three years, an interim report submitted to the National Economic Council indicated on Thursday. Source Punch Read More 

FG to Borrow N2tn from N10tn Pension Fund - The National Economic Council (NEC) thursday in Abuja announced the resolve of the federal government to borrow N2 trillion from the current N10 trillion pension funds to finance the development of infrastructure. Source Thisday Read More 


Click Here to Read More News on Economy


Proshare Nigeria Pvt. Ltd.


NCM2020 (4) - Africa's Projected 4% Growth Is Insufficient To Make A Dent - Africa's macroeconomic performance has taken a different shift from consumption-driven economies to more investment driven economies. The most recent data showed that consumption's contribution to real GDP growth declined from 55% in 2015 to 48% in 2018 while investment's contribution increased from 14% to 48%. Source Proshare Read More

Jumia: To Stay or Go? Early Investors In A Dilemma - Investors in Africa's closest thing to Amazon are in a dilemma as to whether to sweat a recovery in the company's stock price or dump the stock and count their losses. Their concerns are understandable as the company's share price has dropped on the New York Stock Exchange (NYSE) from a 52-week high of US$49.77 in May 2019 to a more recent US$8.13, representing a value loss of US$41.00 or -83.66%. Source Managing Editor, Teslim Shitta-Bey Read More 

NSE Rolls Out Interpretative Guidance To Promote Understanding Of Securities Lending - The recently released Securities Lending and Borrowing report from The Nigerian Stock Exchange ("NSE" or "The Exchange") shows that a total of 20.8 million shares are available to the investing public for lending. Source NSE Read More 

Investors Gain N68.55bn As NSEASI Inches Up By 0.45% Amid Flat Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.45% to close at 29,591.29 points as against -0.02% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +10.24%. Source Proshare Markets Read More 

Summary of FGN Bond Auction Results For January 2020 - 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 

January 2020 FGN Bond Auction Oversubscribed - The January 2020 FGN Bond Auction by Debt Management Office (DMO) which took place on Wednesday, January 22, 2020 was oversubscribed by more than 300%. Source DMO Read More 

Afreximbank Shareholders Invest $500m In New Equity - A statement released by the bank yesterday indicated that the shareholders, including the Federal Republic of Nigeria and the Arab Bank for Economic Development in Africa, invested $200 million in shares and $300 million in callable capital, bringing the total value of new shares issued by the bank in 2019 to $500 million. Source Dailytrust Read More 


Click Here to Read More News on Markets


 Proshare Nigeria Pvt. Ltd.



Jumia Appoints Juliet Anammah As Chairwoman Nigeria Office and Head Institutional Affairs for Africa - Jumia Group, a leading e-commerce company in Nigeria and Sub-saharan Africa, has appointed Mrs. Juliet Anammah as the new Chairwoman of the Nigeria Office and Head, Institution Affairs for Africa Operations. Source  WebTV Read More 

CBN Announces the Appointment and Redeployment of Directors - A statement from the CBN on Thursday said Mr. Yusuf Philip Yila, a Director with the bank and the Managing Director, NIRSAL Microfinance Bank (NMFB), has been redeployed to the position of Director, Development Finance Department, with effect from Friday, January 24, 2020. Source CBN Read More

Nigeria Records Decline In Agro Export Rejection - The number of queries and rejection cases of exported agricultural produce from Nigeria has been witnessing a steady decline, the Nigerian Agricultural Quarantine Agency and farmers have said. Source Punch Read More 

State Governors Agree To Address Right Of Way Impasse - State governors under the auspices of the Governors' Forum (NGF), have resolved to address the lingering issue of Right of Way (RoW) charges, to deepen broadband penetration in the country, and promote a Digital Economy for a Digital Nigeria. Source Guardian Read More 

Oil Rebounds, But Markets 'Twitchy' Over China Virus Impact On Demand - Oil prices edged up on Friday, helped by a decline in U.S. crude stockpiles, but were on track for to fall up to 5% for the week on worries that the China coronavirus that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects. Source Reuters Read More


Click Here To Read More News on Business


 Proshare Nigeria Pvt. Ltd.



2020: Nigeria Optimistic To Retain Position As Africa's Fintech Leader - There is growing optimism that Nigeria will retain its leadership position as the preferred Fintech Investment destination in Africa in 2020. In 2019, the country attracted Fintech investments worth US$400m. Source WebTV Read More 

Broadband Penetration Set to Improve; Internet Subscriptions Stood At 125.7m In December 2019 - The latest data released by the NCC, the industry regulator, show that internet subscriptions stood at 125.7 million in December, representing y/y growth of 13%. The figure implies density of 63% in a population estimated at 198 million, placing Nigeria well above the African average of around 16% as indicated by McKinsey. Source FBNQuest Research Read More 


Click Here to Read More News on Technology


Proshare Nigeria Pvt. Ltd.



NSE Lotus Islamic Index Dropped By -17.87% In 2019 - Tumbling market indicators affected other sectors like the  NSE Consumer Goods Index, which dipped -20.83%, the NSE Main Board which declined by -20.00% and the NSE Insurance Index and the NSE Premium Index that also fell -0.52% and -3.59% respectively. Source WebTV Read More


Click Here to Read More News on Finance



Proshare Nigeria Pvt. Ltd. Proshare Nigeria Pvt. Ltd.

Click Here To Watch More Videos 

Related News

1. What To Expect From The Markets This Week- 200120

2. Nigeria in 1min: Economic, Business and Financial Headlines - 200120 

3. Nigeria in 1min: Economic, Business and Financial Headlines -210120

4. Nigeria in 1min: Economic, Business and Financial Headlines - 220120

5. Nigeria in 1min: Economic, Business and Financial Headlines - 230120

Related News