Nigeria in 1min: Economic, Business and Financial Headlines – 140319

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

 

 

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PROSHARE ECONOMY

Oil Prices Inch Higher On Venezuelan Crude Crisis – OIR 120319 - Today, we take a quick look at some of the critical figures and data in the energy markets this week. Source Oilprice.com Read More 

Cocoa Prices up by 0.82% Despite Forecasts of Robust Global Cocoa Production - The US trade deficit in 2018 is at a 10-year high of $621bn. Some contributing factors to this gap are the tariff wars and a possible overvalued US dollar. Source FDC Read More 

Buhari Second Term: Expectations for the Manufacturing Sector - With less than two months to the inauguration of the Muhammadu Buhari Administration for a second term in office, one sector of the Nigerian economy that will require urgent attention is manufacturing. Source Proshare Read More 

Nigeria, India to Expand $12bn Bilateral Trade - The Federal Government and the Government of India are working on ways to enhance the $12bn annual bilateral trade between both countries in a way that will focus on investment. Source Punch Read More 

Exporters Earned $1.16bn From Non-Oil Business In Three Months - Total non-oil export earnings received through the banks in the last quarter of 2018 amounted to $1.16bn, representing an increase of 1.5 per cent and 85.9per cent above the levels in the preceding quarter and the corresponding quarter in 2017 respectively. Source Punch Read More 

Debt Profile Dominates Budget 2019 Debate in Senate - Nigeria’s rising debt profile was in focus yesterday when the Senate opened debate on the general principles of the 2019 Appropriation Bill. Most of the contributors asked the executive to exercise some level of caution on its borrowing plan in order not to return the country to a heavily indebted nation it exited in 2005 through Paris Club debt relief. Source TheNation Read More 

 

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PROSHARE REGULATORS

SEC’s Proposed New Rules and Amendments For E-dividends, Transmission of Shares, DCS etc - All comments and input should be forwarded by e-mail to the Secretariat, Rules Committee of the Commission, at rulescommittee@sec.gov.ng or by letter addressed to the Director-General, SEC, not later than two (2) weeks from date of publication. Source SEC Read More

 

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PROSHARE MARKETS

NOVA Merchant Bank Limited Declares N1.15bn in PAT, Continues to Focus on Scaling Its Business - NOVA Merchant Bank Limited declared a profit after tax of N1.15bn for the year ended 31st of December 2018, an increase from N510.6m in 2017, as it begins to reap the benefits of its investments in its operations, technology and people. Source NOVA Merchant Bank Ltd Read More 

2018 Africa Capital Markets Watch - Welcome to PwC’s Africa Capital Markets Watch 2018, our fourth annual publication examining both African debt capital markets (DCM) and equity capital markets (ECM) transactions, and fifth annual publication on ECM transactions. Source PwC Read More 

NSEASI Inches up By 0.15% Amid Negative Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by 0.15% to close at 31,360.28basis points as against 1.02% depreciation recorded previously. Source Proshare Read More

Nigerian Brewers – NB Tops on EPS, GUINNESS Tops on PE Ratio As INTBREW Records Negative ROE - In a recent review of a few ratios on three Nigerian brewers namely NB, GUINNESS and INTBREW, analysis revealed that NB topped on EPS with N2.45k, GUINNESS followed closely with N0.55k while INTBREW records a negative EPS of -N0.33k. Source Proshare Read More 

Robust Demand Sees Significant Drop in T-bills Yields at The PMA - The FGN Bond Market witnessed renewed interest from investors across the curve, even as little volume was traded during today’s session. Demand was notable at the mid-end (2027s) & long-end (2037s), as yields dropped lower by c.9bps on the average across the curve. Source Zedcrest Capital Read More


Access Bank Reacts To Fraud Charges Against Its CEO, Others - The management of Access Bank Plc, yesterday, reacted to a recent story about its CEO, Mr Herbert Wigwe, and three others being dragged before an Ogun State High Court by the Police Special Fraud Unit. Source Nairametrics Read More


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PROSHARE BUSINESS 

Nigeria’s Air Passenger Traffic Drops in Four Years - Nigeria’s aviation sector has witnessed a steady decline in air passenger traffic in the last four years, THISDAY’s investigation has revealed.Also, data obtained from Federal Airports Authority of Nigeria (FAAN), confirmed that growth in the aviation industry has been declining since 2015. Source Thisday Read More

MTN Nigeria’s Investment in Network Expansion Hits N2.5trn - The Chief Executive Officer, MTN Nigeria, Ferdi Moolman, Wednesday put the total value of investment made by the telecommunication company since its entrance into the Nigerian market at N2.5 trillion. Source Thisday Read More

Chevron, Dangote Fertilizer Sign 70mmscf/D Sale Agreement - The Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have signed a Gas Sale and Aggregation Agreement (GSAA) with Dangote Fertilizer Limited (DFL) and Gas Aggregation Company of Nigeria Limited (GACN) as the ‘aggregator’. Source Dailytrust Read More

 

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PROSHARE TECHNOLOGY

Jumia: African E-Commerce Platform Files For An Estimated $500m US IPO, Plans To List On The NYSE - Jumia, an African e-commerce platform backed by MTN and Rocket Internet, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. Source Renaissance Capital Read More

 

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PROSHARE FINANCE

Three-Storey Building Collapse in Lagos Island: 12 Feared Dead, Over 40 Rescued - A Three-storey building at 13 Massey Street, Itafaji, Lagos Island collapsed today in what can described as an unfortunate disaster, in Nigeria’s economic capital. Source Proshare Read More

 

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