Nigeria in 1min: Economic, Business and Financial Headlines – 140119


Monday January 14, 2019 / 7:00 AM / Proshare News



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Non-oil Exports Provisionally At US$0.38bn in October 2018 - The latest monthly Economic Report from the CBN puts non-oil exports provisionally at US$0.38bn in October, indicating a rise of 46% m/m and 69% y/y. Source FBNQuest Research Read More 

Unfavourable Weather Conditions in Brazil Could Prop up Sugar Prices in the Near Term - Brent climbed back above $60pb ($60.84pb) after staying below that level since November 2018. Source FDC Read More 

A Spike in Inflation Rate – Any Monetary Policy Response? -  FSDH Research expects the December 2018 inflation rate (year-on-year) to rise to 11.69% from 11.28% recorded in November. Source FSDH Research Read More

The Oil Bull Market Is Back - Oil is officially back in a bull market as confidence grows over both the strength of the global economy and the willingness of OPEC+ to adhere to its production cut agreement. Source Oilprice Read More 

NPDC Seeks N967bn To Develop 416 Million Barrels Of Oil - The Nigerian Petroleum Development Company is making efforts to raise $3.15bn through third party financing to develop the country’s oil and gas reserves from Oil Mining Lease 13. Source Punch Read More 

FG Budgets N80bn For New Railway Projects’ Counterpart Funds - In continuation of its railway modernization drive and to connect all state capitals to railway, the Federal Government has proposed N80bn for seven railway projects across the country. Source Dailytrust Read More 

FG Proposes N1.9trn Deficit In 2019 Budget - As part of efforts to address the budget deficit, the Federal Government has proposed 3.07 percent reduction from N1.95 trillion in 2018 to N1.895 trillion this year. Source Sun Read More 

NIA Launches USSD Code To Track Fake Motor Insurance Paper - The Nigerian Insurers Association (NIA) has taken bold steps in the fight against fake motor insurance policy in Nigeria as it launched the Unstructured Supplementary Service Data (USSD) code *565*11# that would enable motorists verify the authenticity of their insurance policies. Source Guardian Read More 


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Registrars To Give Periodic Report On e-Dividend Progress —SEC - In an effort to ensure that more investors keyed into the e-dividend initiative and also make the registration more seamless, the Securities and Exchange Commission, SEC, has directed Registrars to provide periodic update on investors’ e-dividend registration status. Source Vanguard Read More


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What To Expect From The Markets This Week – 140119 - In November 2018, after a series of industrial actions by organised labour, the tripartite minimum wage committee led by the FG proposed a new minimum wage of N30,000/month (currently at N18,000/month).  Source Proshare Read More

Investors Gain N116.71bn as NSEASI Inches Up Further By 1.06%; Dips By -2.64% WoW-Equities market closed today on a positive note, as NSEASI appreciated by +1.06% to close at 29,830.70 basis points as against +0.62% appreciation recorded previously. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced during the Week Ending 110119 - The equities market recorded mixed performance – the listed equities market recorded -2.64% loss WoW while the NASD OTC also went up by +0.39% WoW. Source Proshare Read More 

Funding Rates Moderate Slightly as CBN Holds off on OMO - The Bond market remained relatively flat in today’s session, except for some buys on the 22s and 26s which compressed yields marginally by c.1bp on average. Source Zedcrest Capital Read More 

NASD OTC Market CAP Increased By 3.20% to N540.56bn - As at close of trade week on 11 January 2019, market Capitalisation increased to 540.56 billion from last week's previous 520.89 billion, which shows a 3.20% increase in Capitalisation. Source NASD Read More 

CBN Injects $263m, CNY 39m Into Retail SMIS - The Central Bank of Nigeria (CBN) on Friday, January 11, 2019, injected the sum of $263m into the Retail Secondary Market Intervention Sales (SMIS), being its first intervention in that sector this year. Source CBN Read More  

Abraaj To Convert $10m Loans In C&I Leasing To Equity - C &I Leasing has announced plans by Abraaj Group, managers of the Aureos Africa Fund, to convert its $10 million loan stock to the company to equity. Source Vanguard Read More 


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Meristem Emerges First Nigerian Indigenous GIPS Compliant Asset Management Firm - Meristem Asset Management has emerged as Nigeria’s first indigenous asset manager to meet the stringent Global Investment Performance Standard (GIPS). Source Proshare Read More


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How FirstBank Is Making Customers Stay Connected through Its e-Channels - FirstBank Agent banking was launched towards the end of 2017. The bank recruited Firstmonie Agents and empowered them to carry out basic financial services within their vicinity. . Source FBN Read More

Election Year: Boom for Insurance? - An entirely new vista, the 2019 general elections present the greatest opportunity for the insurance industry to sell insurance to Nigerians and achieve, if not surpass its target of N1 trillion Gross Premium Written (Turnover) by 2020. Source  Ekerete Ola Gam-Ikon Read More

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