Nigeria in 1min: Economic, Business and Financial Headlines – 040119

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 Friday January 04, 2019 / 7:00 AM / Proshare News 

 

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PROSHARE ECONOMY

Q1,2019: Key Political-Economic Developments to Watch in Nigeria-As the year 2019 begins we take a look at major events to watch that cover the socio-political space, financial market, economy and business environment. Source Proshare Read More 

China Taking First Steps To Pay For Oil In Yuan This Year - China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters, a key development in Beijing’s efforts to establish its currency internationally.  Source Reuters Read More 

Chinese Consumers Tighten Their Belts and the World Feels the Squeeze - The Chinese consumer, a previously reliable driver of economic growth, is under stress, threatening to deepen a broad slowdown in China’s economy that is rattling global markets. Source WSJ Read More 

OPEC Supply Cap Dampens Egina First Oil Euphoria - Nigeria’s daily crude oil production will rise by 200,000 barrels per day (bpd) from February when the first cargoes from Total’s newly producing offshore Egina Floating Production Storage and Offloading (FPSO) which hit first oil on December 29, 2018, comes into the market, lifting output above 2 million bpd, and pushing the country’s output past the Organisation of Petroleum Exporting Countries (OPEC) quota. Source Businessday Read More 

FG Proposes To Spend N2.26tn On Debt Servicing - The government had proposed to spend N2.01tn on debt servicing in 2018. This means that the proposal for debt servicing in 2019 is 12.44 per cent higher than what was proposed for the same purpose in 2018. Source Punch Read More

 

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PROSHARE MARKETS

NSEASI Dips Further By -0.96%; Closes Below 31,000bpts-Equities market closed today on a negative note, as NSEASI depreciated by -0.96% to close at 30,771.32 basis points as against -1.15% depreciation recorded previously. Source Proshare Read More

NSE Lists Expanded CCNN Shares as Market Value Hits N254bn-The market value of the Cement Company of Northern Nigeria (CCNN) having gained 110 per cent at the close of trading on December 31, 2018 increased to N254,983,918,740.40 billion shortly after the merger with BUA Group’s Kalambaina Cement Company Limited was approved by the regulators and 13.1bn shares of expanded CCNN were listed on the NSE. Source BUA Group Read More

T-Bills Market Trades Bearish as Market Players Anticipate Retail FX Funding - The Bond Market compressed marginally by c.3bps in today’s session, following slight interests on the 26s, 27s and 37s. Yields however remained much unchanged on other maturities. Source Zedcrest Capital Read More


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PROSHARE BUSINESS  

 Nigeria Not Losing N600bn Through Telecom Industry - Nigeria is not losing N600billion revenue through the telecom industry as alleged by Femi Falana (SAN), the Nigerian Communications Commission (NCC) has said. Source Leadership Read More


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PROSHARE TECHNOLOGY

FG Orders All Government Agencies to Demand NIN from Citizens-The Federal Government  has ordered all agencies providing services listed under Section 27 of the NIMC Act and Section 1 of the Mandatory Use of the National Identification Number Regulations 2017 to demand the NIN from citizens or legal residents before offering them any service with effect from January 2, 2019. Source NIN Read More 

Internet Subscriptions Stood At 108.5m in November 2018; Up By 14%-The latest data released by the NCC, the industry regulator, show that internet subscriptions stood at 108.5 million in November, representing y/y growth of 14%. Source FBN Quest Research Read More

FirstBank Reinforces Financial Inclusion With New Market Activations-Responding swiftly to a changing financial services environment, First Bank of Nigeria has taken its financial inclusion campaign to 14 new markets in the three states of country, namely; Bayelsa, Cross River, and Delta States. Source First Bank Read More

 

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PROSHARE MSME

The Tony Elumelu Foundation Opens Applications for 5th Cycle of $100m Entrepreneurship Programme-The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs. Source TEF Read More

 

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