Nigeria in 1min: Economic, Business and Financial Headlines – 180119

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Friday January 18, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

Coronation Research Issues 2019 Economic Outlook for Nigeria; A Tale of Two Halves - In its 2019 economic outlook report titled “A Tale of Two Halves”, Coronation Research – industry-leader and a subsidiary of Coronation Asset Management Limited – believes the narrative for the Nigerian economy in 2019 is largely hinged around the performance of oil. Source Coronation Research Read More

Ship Acquisition in Nigeria - There is hardly any effective discussion of ship acquisition without making recourse to ship finance. Source Brickstone Read More 

Key Development Considerations - Modular Refinery Development - Recent attempts made in driving the growth of refineries through private investment notwithstanding, Nigeria still has a long way to go in establishing refineries that are capable of producing at full potentials. Source Brickstone Read More 

NSR H1 2019 (5) - Currency - A Test Of Nerves And Resilience - In our H2 18 Nigeria Strategy Report, we modeled the impact of capital flight and lower portfolio flows due to political uncertainty, and thus projected a $1.9 billion drawdown in the external reserve over the 2nd half of 2018 relative to a $7.8 billion accretion recorded in H1 18. Source ARM Research Read More 

Afrinvest Economic and Financial Market: 2018 Review and 2019 Outlook - On the Precipice - The year 2017 seemed to herald a resurgence of the Nigerian economy as exports recovered and investor confidence was restored in the FX market following the introduction of the I&E window. Source Afrinvest Research Read More 

World Bank Launches $50bn For Climate Change - The World Bank Thursday, unveiled its approved Action Plan on Climate Change Adaptation and Resilience covering a period of five years. Source Sun Read More 

Minimum Wage: Revenue Sharing Formula for Review - Governors seem to be making progress in their age-long battle for a new revenue formula. Source The Nation Read More

Nigeria, Brazil Seal $1.1b Agriculture Project Deal - The Federal Government is shopping for $1.1 billion to implement the Nigeria-Brazil Cooperation Project Agriculture “Green Imperative,” Finance Minister Hajia Zainab Ahmed, said yesterday. Source TheNation Read More


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PROSHARE REGULATORS 

We’ll achieve 80% financial inclusion target by 2020 – CBN - The Central Bank of Nigeria on Thursday expressed optimism that the 80 per cent financial inclusion target, which was set by the Federal Government in 2012, would be achieved. Source Punch Read More 

 

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PROSHARE MARKETS

Mixta Real Estate Plc: Listing of N2,961,000,000 Guaranteed and N2,320,000,000 Secured Bonds - Mixta Real Estate Plc’s N2,961,000,000 16.50% (Series II), Tranche A Senior Guaranteed Fixed Rate Bond Due 2023; and N2,320,000,000 17.75% (Series II), Tranche B Senior Secured Fixed Rate Bonds Due 2023, issued under the N30,000,000,000 Medium Term Note Programme were on Wednesday, 16 January 2019 listed on The Exchange. Source NSE Read More 

Forte Oil Plc Holds Extraordinary General Meeting on February 7th, 2019 - Notice is hereby given that an Extraordinary General Meeting (“EGM") of Forte Oil Plc. (“the Company”) will hold at the Bespoke Event Centre, Lekki- Ajah Expressway, Lagos on 7th of February, 2019 at 10.0oa.m, to consider, and if thought fit, to pass, with or without amendment, the following resolutions of the Company. Source NSE Read More  

Investors Gain N45.69bn as Market Sentiment Remains Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.40% to close at 30,583.21 basis points as against +1.07% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.70%. Source Proshare Read More 

Bond Yields Break Key Support as Offshore Inflows Push I and E Rate to 4-Month Low - Interests in the bond market were largely focused on the mid tenors (27s and 28s) which were significantly compressed by c.16bps and c.30bps respectively, with the 27s breaking the 15% support to trade at a low of 14.80% whilst the 28s reached a low of 15.00%. Source Zedcrest Capital Read More 

 

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PROSHARE BUSINESS 

 FG Extends CAC Registration Incentive Deadline By 3 Months - The Federal Government has extended the Corporate Affairs Commission (CAC) Registration Business Incentive Strategy (BIS) by three months, the Acting Registrar General of the commission, Azuka Azinge, has said. Source Dailytrust Read More 

The Panic Surrounding Brexit Can Be Found in U.K. Bond Markets - The pound may have been relatively calm in recent weeks, but U.K. bond markets are seeing signs of Brexit-induced distress. Source Bloomberg Read More

U.S. Government Shutdown Seen Causing Minor Hit to Broad Economy - The U.S. government shutdown is causing some real pain, but economists are largely brushing off the risk to the expansion. Source Bloomberg Read More

The U.S. and China Are Hatching a Plan to Reopen Chicken Trade - U.S. and Chinese trade officials are in talks to reopen China’s market to U.S. chicken exports as they seek to forge a new trade deal, according to people familiar with the discussions. Source WSJ Read More


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PROSHARE TECHNOLOGY

Introducing The Africa Fintech Network - Stakeholders are in agreement that there is the urgent need to fast-track development and strategic coordination of fintech innovations in Africa and ensure African societies benefit maximally from its abundant resources. Source Fintech Read More

In 5G Play, Vodafone and IBM Link up Cloud Systems for Business - Vodafone is teaming up with IBM to offer businesses a way to link different cloud computing systems to support the next wave of digital advances, such as machine learning, on super-fast fifth-generation telecoms networks. Source Reuters Read More

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