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Nigeria in 1min: Economic, Business and Financial Headlines – 010118

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January 01, 2018 9:10 AM / Proshare News 

PROSHARE ECONOMY

2018 Outlook on the Nigerian Economy: The Need for an Even Keel - The Nigerian economy exited a negative territory in 2017 as Gross Domestic Product (GDP) grew by o.55% in the second quarter of 2017. Source Proshare Read More 

What To Expect From The Markets This Week- 010118 - With leading indicators such as the purchasers manufacturing index, external reserve, nominal currency and dip in inflation all culminating to an exit from recession. Source Proshare Read More 

Nigerian States and Budget 2018 - In  this special  review of  36 States of the federation, Proshare Economy brings you the preparedness for 2018, through the budget figures that have been presented. Source Proshare Read More 

Understanding the Q3 2017 Unemployment and Underemployment Numbers - Source Proshare Read More 

FG mopped up N3trillion with TSA -Adeosun - The Federal Government has so far mopped up over N3 trillion as revenue accruals since the policy of Treasury Single Account commenced, the minister of Finance, Mrs Kemi Adeosun has said. Source Daily Trust Read More 

FG saves N30bn from MDAs’ payroll audit - The Federal Government has said it has saved a total of N30bn through an audit of its 181 Ministries, Departments and Agencies conducted by the Presidential Initiative on Continuous Audit. Source Punch Read More 

FG, states, LGs got N5.7tn allocation in 11 months - Between January and November this year, the Federation Account Allocation Committee shared a total of N5.74tn to the three tiers of government. Source Punch Read More 

Niger Gets N21.7bn from FG in Two Months - The Niger State government has raked in an unprecedented N21.7 billion from the federal government in the last couple of months. Source Thisday Read More 

IMF shuts inefficient $24b refinancing window - The International Monetary Fund (IMF) has resolved to close down its own refinancing platform- General Arrangements to Borrow (GAB), worth $24 billion. Source Guardian Read More 

External reserves appreciate by $10.5bn, Oil closed 2017 at $66.8/b - The external reserves have appreciated by about $10.5billion in the year 2017, according to the figures by the Central Bank of Nigeria. Source Daily Trust Read More 

Chamber of Commerce forecasts 3-4% GDP growth, 13% inflation for 2018 - The Lagos Chamber of Commerce and Industry (LCCI) has predicted a Gross Domestic Product (GDP) growth rate of between three and four per cent for 2018. Source Daily Trust Read More 

Nigeria’s federal account allocations rebound to 3-year high - Nigerian federal account allocations hit a three-year high in the eleven months through 2017, according to data compiled by BusinessDay, in what is a potential boost for government at all three levels faced with a biting revenue crisis. Source BUSINESSDAY Read More 

World Bank rates Nigeria Public Private Partnerships high - Nigeria is one of the top four leading voices in Public Private Partnerships (PPP) in the 2017 ranking of the World Bank Group (WBG). Source THE NATION Read More 

FG bars Egina boats from Nigerian waters over indebtedness - Federal Government has suspended, with immediate effect, the Engina Floating Production Storage and Offloading (FPSO), which is due to arrive Nigeria in January 2018 from accessing the Nigerian waterways. Source THE SUN Read More 

PenCom seeks funding to tackle pension payment delay - The National Pension Commission has said it is important to address the issue of delay in payment of pensions to retirees under the Contributory Pension Scheme. Source Punch Read More 

2018 budget: Bauchi allocates 18.8% to education, 15.23% to health - The Bauchi State Government has allocated 18.8 per cent which amounts to N31.5 billion to education and N25.5 billion to the health sector, representing 15.23 per cent of the 2018 proposed budget of N167 billion. Source Daily Trust Read More 

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PROSHARE MARKETS

Market Closes the Year on a Positive Note; NSEASI Records 42.30% Gain in 2017 - Equities market closed today on a positive note, as NSEASI appreciated by +0.66% to close at 38,243.19 basis points as against +0.27% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +42.30%. 2015 Source Proshare Read More 

NASD Relaunches BITs Trading Platform - NASD OTC has re-launched its proprietary trading system, the Bilateral Interdealer Trading System (BITs) to enhance the flexibility and dynamism of the OTC Market. Source Proshare Read More 

New Listings and Delistings in 2017 - The listing of new companies on an Exchange has one of the measurable ways to gauge the growth of such Exchange. Source Proshare Read More 

DANGSUGAR, INTBREW Top Gainers as MORISON, JAIZBANK Top Losers in 2017 - Nigerian stock market recorded an improved performance in 2017. The benchmark indicator, NSEASI, closed the year with +42.30% gain compared to -6.17% and -17.36% losses recorded in 2016 and 2015 respectively. Source Proshare Read More 

Trading Statistics in 2017 – TRANSCORP, UBA Top Market Volume - Trading activities in the Nigerian equities market closed the year 2017 with +42.30% gain as against -6.17% and -17.36% losses recorded in 2016 and 2015 respectively. Source Proshare Read More 

NEITI: Nigeria’s Oil Revenues Plunged by 55% to $24.8b in 2015 - Nigeria’s oil and gas revenues plunged from $54.5 billion in 2014 to $24.8 billion in 2015, while the country’s oil production fell from 798 million barrels in 2014 to 776 million barrels in 2015 Source Proshare Read More 

10 modular refineries getting ready – Osinbajo - According to his Special Assistant on Media and Publicity, Mr Laolu Akande, the 10 modular refineries were located in five out of the nine states in the Niger Delta region Source Vanguard Read More 

Kaduna refinery idle for four months, loses N14.4bn - One of the nation’s refineries, Kaduna Refining and Petrochemical Company, did not process any crude oil from June to September this year and made a loss of N14.43bn within the period. Source Punch Read More 

DPR Shuts down 23 Filling Stations in Benin - For alleged sharp practices, the Department of Petroleum Resources (DPR) in Benin City has disclosed that since the fuel scarcity began, it has sealed a total of deal 23 filling stations in Edo State. Source Thisday Read More 

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PROSHARE BUSINESS

Proshare WebTV Top 10 Videos: 3 Categories  - WebTV Nigeria’s leading online Television platform, has carved a niche for itself in covering the economy, financial market and the business space. Source Proshare Read More 

Full Transcript: President Buhari’s New Year Address - I join my fellow citizens this morning to welcome and celebrate the New Year 2018. This year promises to be pivotal in our quest for CHANGE. Source Proshare Read More 

Singapore GDP Grew 3.5% in 2017, Prime Minister Lee Says - Singapore’s economy expanded 3.5 percent this year, more than double the initial government forecast as the country benefited from the global economic upswing, Prime Minister Lee Hsien Loong said in his New Year message Sunday. Source Bloomberg Read More 

A Guide to Mideast Markets in 2018 - For as long as Gulf economies rely on oil, crude will be a factor in determining how investors trade regional markets. But right now, politics is king. Source Bloomberg Read More 

Egypt to keep customs exchange rate at 16 pounds in January - Egypt will keep its customs exchange rate steady at 16 pounds per dollar for January, the finance ministry said on Sunday. Source Reuters Read More 

Namibia's foreign reserves hit five-month low in Nov -central bank - Namibia’s stock of foreign reserves declined at the end of November to a five-month low of 28.5 billion Namibian dollars ($2.31 billion), according to central bank monetary and banking statistics seen by Reuters on Sunday. Source Reuters Read More 

South Africa fuel prices to fall in January because of rand gains - The retail price of petrol and the wholesale price of diesel in South Africa will fall Wednesday because the rand has strengthened, the energy department said on Friday. Source Reuters Read More

IMF sees Gabon GDP growth at 0.8 pct in 2017, rising to 2.7 pct in 2018 - The International Monetary Fund sees Gabon’s economy growing at 0.8 percent in 2017, down from an earlier forecast of 1 percent, but expects growth to rebound to 2.7 percent next year due to recovering oil prices, it said late on Thursday. Source Reuters Read More 

Kenyan inflation falls to 4.5 percent in December -  Kenya’s year-on-year inflation fell to 4.5 percent in December from 4.73 percent the month before, the statistics office said on Friday, reaching its lowest level for nearly five years. Source Reuters Read More 

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PROSHARE TECHNOLOGY

Telecom subscribers spent N2.4trn on internet data in 2017 - Telecoms subscribers in Nigeria spent over N2.346trn on internet data last year, analysis of mobile users’ average data usage per month has shown. Source Daily Trust Read More 

Goldman Sees Crypto, Credit Shadowing Robust 2018 U.S. Economy - Financial imbalances including those in credit markets and cryptocurrencies will shadow an otherwise robust 2018 U.S. economy, said Goldman Sachs Group Inc. economist Jan Hatzius. Source Bloomberg Read More 

Ripple's 53% Surge Makes It the Second-Biggest Cryptocurrency - A new contender just moved into second place in the race to catch bitcoin. Source Bloomberg Read More 

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