Nigeria in 1min: Economic, Business and Financial Headlines – 140219

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 Thursday February 14, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

Total Value of Capital Importation into Nigeria Stood at $16,812.47m in 2018 – NBS - The total value of capital importation into Nigeria stood at $2,140.08 million in the fourth quarter of 2018. This represents a decrease of 25.05% compared to Q3 2018 and 60.24% decrease compared to the fourth quarter of 2017.  Source NBS Read More

Oil Market Tightens On OPEC Cuts – Oil prices jumped during early trading on Tuesday on news that OPEC had sharply cut output in January. Source Oilprice Read More

What will Drive Nigeria’s Economy in 2019 - Dr. Doyin Salami - Speaking at the NASD OTC Securities Exchange 2019 Business Breakfast meeting in Lagos, economist Dr. Doyin Salami gave insights into what will drive the Nigerian economy in 2019. Source Proshare Read More

FG To Auction Another N150bn Bond February 20 - A circular by the DMO on Wednesday, showed the breakdown of the figure to include a N50bn five-year reopening bond that would mature in April 2023 and be offered at 12.75 per cent and another N50bn seven-year reopening bond to mature in March 2025 and be auctioned at 13.53 per cent. Source Punch Read More

Nigeria’s Daily Oil Production Falls To 1.99 Million Barrels - The nation’s crude oil production including condensate fell to 1.999 million barrels per day in January from 2.081 million bpd in December, according to the Ministry of Petroleum Resources. Source Punch Read More

Nigeria’s Four Seasons of Lavishness with N15.46 Trillion Excess Crude Fund - In the last fifteen years, the Nigerian government has spent at least $107.4 billion (the equivalent of N15.46 trillion) from the Excess Crude Account (ECA) under the administrations of Olusegun Obasanjo, Umaru Musa Yar Adua, Goodluck Jonathan and incumbent President Muhammadu Buhari. Source Premium Times Read More

 

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PROSHARE MARKETS

Investors Lose N18.05bn As Market Sentiment Turns Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.15% to close at 32,413.92basis points as against +2.14% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +3.13%.  Source Proshare Read More

The Capital Market: Facing Uncertainty and Grabbing Opportunities - Nigeria’s capital market went through 2018 with a deep sense of uncertainty as fiscal and monetary policies conspired to keep manufacturers under pressure and put a fist over retailer profits as corporate Nigeria saw a significant earnings dip. Source Proshare Read More

Konga Seeks $3.5bn Value in New York IPO - Konga, a Nigerian e-commerce group, is planning an Initial Public Offering on the New York Stock Exchange by 2020, which will see the business valued at $3.5bn, according to information gathered from sources familiar with the listing. Source Punch Read More

 

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PROSHARE BUSINESS 

FG, Dangote Flags off Reconstruction of Ofeme Community Road Network - Federal Government and Dangote Industries Limited, yesterday, flagged off the reconstruction of the roads and bridges at Ofeme Community in Abia State. Source Vanguard Read More

 

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PROSHARE TECHNOLOGY

Meristem Launches Zedd, An AI Personal Investment Advisor - Foremost investment firm Meristem just launched an artificial intelligent solution, Zedd. The AI technology-driven bot interacts with users in a human-like pattern to onboard prospective investors while offering more personalized services to clients. Source Meristem Read More

Local Funding Slows as Tech Startups Raise $95m Offshore - Nigeria’s sluggish economic landscape is fast founding expression in the information and communications technology (ICT) sector, as there appears to be a pause in local funding and investments into indigenous startup companies. Source Guardian Read More 

 

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