Nigeria in 1min: Economic, Business and Financial Headlines – 180719

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Thursday, July 18, 2019 / 06:45 AM / By News Aggregator / Header Image Credit: 


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PROSHARE ECONOMY

Oil Falls Back As Iran Risk Factor Fades - OIR 160719 - Today, we will take a quick look at some of the critical figures and data in the energy markets this week. We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. Source Tom Kool for OilPrice.com Read More

Domestic Debt Service On A Plateau - The latest data from the DMO for Q1 2019 reinforces the impression that the FGN’s domestic debt service has settled on a plateau. The cost for the quarter was N34bn lower than in the year-earlier period and the burden over four quarters has started to stabilize. Interest paid on NTBs has eased as a result of externalization, and the cost overall due to a decline in borrowing costs.        Source FBNQuest Research Read More

FG Spent N610.2bn Servicing N13tn Domestic Debts In Q1 - Within a three- month period, covering January to March this year, the Federal Government spent the sum of N610.2bn paying interest on its domestic debts. The amount is contained in a report on the nation’s debt which was obtained from the National Bureau of Statistics on Wednesday. Source Punch Read More

AfCFTA: Nigeria’s Economy Fragile, Not Competitive, Says NECA -  The Nigeria Employers’ Consultative Association said on Wednesday that Nigeria took great risks by signing the controversial African Continental Free Trade Area Agreement. The Director-General, NECA, Mr Timothy Olawale, said this on Wednesday while fielding questions from the State House correspondents after the leadership of the association had met with President Muhammadu Buhari at the Presidential Villa, Abuja. Source Punch Read More

Economic Disruption – How The Energy Revolution Will Affect Nigeria - To understand the implications of the world’s changing energy demands, and the eventual change in geopolitics for Nigeria, we need to understand how our relationships with key economic partners like US, China, Europe and India will change. Source Sbmintel Read More

 

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PROSHARE MARKETS

Nigeria’s Cement Market Battles: Lafarge Africa Plc in Focus - As noted in our earlier report on Nigeria’s Cement Market Battles, the cement market in Nigeria is such that the companies have different regions which they serve. Although the effect of competitiveness is about to disrupt this trend, CCNN has its largest customer wallet share in the North while DANGCEM and WAPCO are more dominant in the southern part of the country. Source Proshare Read More

Bond Yields Trend Lower as Market Players Re-Invest Coupon Inflows - The FGN Bond market remained bullish with yields lower by c.7bps on the day as real money clients sought to re-invest coupon payments. Demand interests were focused on the mid to long end of the curve, where yields dropped by c.12bps. Source Zedcrest Capital Read More

How NSE Plans to Attract Key Listings in the Markets - The Divisional Head, Trading Business of the Nigerian Stock Exchange Mr. Jude Chiemeka  in a recent interview with Proshare WebTV, gave insight  into how the NSE is attracting more significant listings to the market. Source Proshare Read More

Investors Lose N77.04bn As NSEASI Dips By -0.56% - Equities market closed today on a negative note, as NSEASI depreciated by 0.56% to close at 28,042.80 points as against 0.49% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -10.78%. Source Proshare Read More

SEC, NFIU Sign Agreement To Tackle Capital Market Fraud - In a statement in Abuja, Acting Director General of SEC, Ms. Mary Uduk, said the collaboration was necessary in order to close ranks in the face of insider dealings, re-awakening of Ponzi schemes, cybercrime and other fraudulent activities that have engulfed the market in the last few years. Source Vanguard Read More 

 

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PROSHARE BUSINESS

With Rising Income Inequality, 100 Bank Customers Get 47% of Loan - Nigerian banks have high credit concentration risk, with 47 per cent of total industry loans having been extended to 100 large customers in the country, a report by Moody’s Investor Service has revealed. Source Thisday Read More

Report: Africa’s Emerging Agritech Market Worth Euro 5.3b - Africa’s emerging Agritech market is now valued at Euro 5.3 billion according to a new report by the Technical Centre for Agricultural and Rural Cooperation (CTA) and Dalberg Advisors. Cellulant’s Agrikore platform – an online marketplace for smallholder farmers, agricultural input and produce traders is tapping into the market. Source TheNation Read More

 

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PROSHARE TECHNOLOGY  

U.S. Lawmakers Challenge Facebook Over Libra Cryptocurrency Plan - U.S. lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, saying the company had not shown it could be trusted to safeguard the world financial system and consumers’ data. Source Reuters Read More

Nigeria, Ethiopia To Drive Africa’s Telecoms Subscribers’ Growth - This SSA growth is expected to be spearheaded by young African consumers as they become mobile users for the first time. Specifically, within this period, Nigeria, which currently has 174 million active telephone users, is expected to add 31 million new subscribers; Ethiopia 18 million; DRC 15 million; Tanzania 10 million, and Kenya nine million. Source Guardian Read More

 

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