Nigeria in 1min: Economic, Business and Financial Headlines – 080219

 Friday February 08, 2019 / 7:00 AM / Proshare News

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PROSHARE ECONOMY

Bank of America: Oil Demand Growth to Hit Zero Within a Decade - By 2030, oil demand could hit a peak and then enter decline, according to a new report. Source Oilprice.com Read More 

FGN Announced Plan to Prohibit the Importation of Tomato Paste into Nigeria - The FGN announced a plan to prohibit the importation of tomato paste into Nigeria as from December as part of its import substitution and diversification strategy. Source FDC Read More 

Prices Take An Inch Back - The Pentad Urban Retail Price Tracker - Our Urban Retail Price Tracker – the PURP index – recorded a modest pace of price increase of 0.42% MoM to 111.3 pts in January (vs 0.45% MoM in December). Source ARM Research Read More

World Food Prices Rise In January: U.N. FAO - World food prices rose in January, buoyed by a rebound in dairy prices and stronger showings for vegetable oils and sugar, the United Nations food agency said on Thursday. Source Reuters Read More

ASUU Suspends Strike, Asks Lecturers To Resume Tomorrow - The Academic Staff Union of Universities, ASUU, has officially suspended a strike it commenced three months ago. Source Premiumtimes Read More

TCN Raises $1.62bn For Power Transmission, Says Distribution Lagging - The Transmission Company of Nigeria said on Thursday that it had raised a total of $1.623bn for power transmission projects across the country. Source Punch Read More

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PROSHARE REGULATORS

N8.63tn Pension Fund Assets Not Under Threat – Pencom DG - The acting Director-General, National Pension Commission, Aisha Dahir-Umar, on Thursday, said that the Pension Fund Assets which stood at about N8.63tn as of December last year was not under any form of threat as being widely speculated. Source Punch Read More

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PROSHARE MARKETS

The January 2019 Nigerian Capital Market Service Report – Nigerian Stock Market closed the month of January 2019 in red as NSEASI dipped by -2.70% as against +1.80% gain recorded in the month of December 2018 while the NASD USI closed in green with +0.21% gain recorded at the end of the month under review.  Source Proshare Read More

NSEASI Inches Up By 1.98% As YTD Returns Turns Positive  - Equities market closed today on a positive note, as NSEASI appreciated by +1.98% to close at 31,433.49basis points as against +0.16% appreciation recorded previously. Source Proshare Read More

NAFEX Rate Appreciates to Six Month High Amid Renewed FPI Inflows - The Bond market traded on a significantly bullish note with yields compressing by further by c.9bps, following increased demand on the mid to long end of the curve from both local and offshore investors. Source Zedcrest Capital Read More

Oil and Gas Sector – SEPLAT Tops on EPS and PAT Margin - A quick review of the EPS ratio of the oil & gas sector reveals that SEPLAT tops and closely followed by TOTAL and MOBIL while MRS and JAPAULOIL lead otherwise with negative EPS. Source Proshare Read More

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PROSHARE BUSINESS 

PEBEC Holds Lagos Stakeholders Forum, Reports 140 Business Reforms in Three Years - The Presidential Enabling Business Environment Council today informed the Nigerian business community in Lagos, that it has achieved 140 reforms in the business climate in the last three years. Source Proshare Read More

Pimco Says Emerging-Market Euphoria May Live On as Bears Surface - Pacific Investment Management Co. says there are still plenty of reasons to buy emerging markets, even as some of the world’s largest banks warn the rally may fizzle. Source Bloomberg Read More

NCR Registers 551 Microfinance Banks, 21 Dmbs, Others To Increase Lending, Inclusion - The National Collateral Register (NCR), registered about 628 financial institutions, including 551 Micro Finance Banks (MFBs), and 21 Deposit Money Banks (DMBs), as at December 31, 2018. Source Guardian Read More

FIRS Goes After 85,000 Millionaire Tax Debtors - The Executive Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, has said that the Service, in collaboration with other stakeholders like the Nigeria Police Force, will this year go after wealthy tax defaulters. Source Punch Read More

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PROSHARE TECHNOLOGY 

60 Million Nigerians Enjoy Broadband Internet – NCC - Sixty million Nigerians now enjoy broadband Internet, the Executive Vice-Chairman, Nigerian Communications Commission, Prof Umaru Danbatta, has said. Source Punch Read More

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