Nigeria in 1min: Economic, Business and Financial Headlines – 050219

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Tuesday February 05, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

At N947bn, Nigeria’s Non-oil Revenue Drops By 17% - At a total of N946.90 billion, the federal government’s non-oil revenue was below the proportionate quarterly budget estimate of N1.401 trillion, the Central Bank of Nigeria (CBN) has disclosed. Source Thisday Read More

FG Disagrees With IMF On Economic Growth Forecast - The Minister of Budget and National Planning, Senator Udo Udoma, has said the nation’s economy will grow by 3.01 per cent this year, compared to a forecast of two per cent by the International Monetary Fund. Source Punch Read More

Power Generation Increased By 100% In Three Years – Fashola The Minister of Power, Works and Housing, Babatunde Fashola, has stated that power generation in Nigeria increased by 100 per cent within a space of three years. Source Punch Read More 

NUPENG, PENGASSAN urge Buhari to Accelerate PIB assent-The leadership of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association (PENGASSAN) has again appealed to President Muhammadu Buhari to accelerate the final executive assent to the entire Petroleum Industry Bill (PIB). Source Guardian Read More 

FG Hopeful of Improved Growth on Coordinated Fiscal, Monetary Policies-The Minister of Budget and National Planning, Senator Udoma Udo Udoma is optimistic that the Nigerian economy will continue to maintain its recovery in 2019 as the real GDP growth is expected to increase from 0.8% in 2017 to 2.1% in 2018 and 3.01% in 2019, with the sustained implementation of the ERGP. Source Guardian Read More  

NECA begs NASS to Fast-Track Passage of 2019 Budget-Nigeria Employers’ Consultative Association, NECA, has warned that continued delay in the passage of 2019 federal budget is unhealthy for the nation’s economic recovery and pleaded with the National Assembly to speed up the passage to spur economic activities. Source Vanguard Read More

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PROSHARE MARKETS

Eight Financial Services Stocks Dominate the List of 28 Stocks You Should Not Touch - Out of the 169 listed companies on the Nigerian bourse, 28 quoted firms which represent about 17% of the stocks currently listed recorded no price movement as at December 31 2018 as against 37% of such stocks recorded in 2017. Source Proshare Read More

February 2019 FGN Savings Bonds Offer For Subscription - Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004. Source DMO Read More 

Afrinvest Stock Recommendation For The Week 040219 - The local bourse closed negative W-o-W as investors sold off bellwether stocks to capitalize on gains enjoyed in previous weeks. Source Afrinvest Read More 

Bond Market Closed On A Bullish Note With Increased Demand Seen On Most Maturities - The money market rate decreased last week as the Overnight rate (OVN) and Open Buy Back (OBB) fell to 11.86% and 11.07% respectively. Source Anchoria AM Research Read More 

Buoyant Liquidity Level Spurs Buying Interest as Average Yield Compresses to 13.2%WoW - The Treasury bills (’’T-Bills’’) secondary market sustained its bullish run last week on the back of the buoyant system liquidity – N680.0bn long as at Thursday largely due to OMO and T-Bills maturities (N445.5bn) as well as FAAC allocations (N310.0bn). Source Afrinvest Research Read More 

Equities Market Opens The Week Positive as NSEASI Inches Up By 0.35% - Equities market closed today on a positive note, as NSEASI appreciated by +0.35% to close at 30,745.05basis points as against +0.26% appreciation recorded previously. Source Proshare Read More

FG Offers 2, 3-Year Saving Bonds For February - The Federal Government has offered for subscription two-year saving bonds at 12.05 per cent and three-year savings bond at 13.05 per cent per annum, the Debt Management Office (DMO) has said. Source Thesun Read More

Capital Market Needs Investment Attraction Initiatives — SEC - The Securities and Exchange Commission has said the capital market needs initiatives that will help attract and retain investments. Source Punch Read More 

CBN Denies Arbitrage in FX Market-The Central Bank of Nigeria (CBN) on Monday said there is no room for arbitrage opportunities in the foreign exchange(FX) market.Source Thisday Read More


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PROSHARE BUSINESS 

NSE Announces Executive Appointments for Its Listing and Trading Businesses - The Nigerian Stock Exchange (“The NSE” or “The Exchange”), today, announced the appointment of Mr. Jude Chiemeka and Mr. Olumide Bolumole to its Executive Management Team. Mr. Olumide Bolumole joins NSE as Divisional Head, Listing Business while Mr. Jude Chiemeka joins as Divisional Head, Trading Business. Source NSE Read More

CBN, Dangote, Kano Govt Partner To Localise Tomato Production - Kano—The Central Bank of Nigeria, CBN; Dangote Group of Companies and Kano State government are partnering to localise the production of tomatoes in Nigeria and discourage importation of the product. Source Vanguard Read More

 

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PROSHARE TECHNOLOGY

Lava Launches Operations With High Quality Affordable Devices - After entering the African mobile market through Egypt, Lava the fastest growing Indian mobile phone has launched its operations in Nigeria with a promise to deliver valuable and reliable yet affordable mobile technology to the market and community. Source Lava Africa Read More

 

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