Nigeria in 1min: Economic, Business and Financial Headlines – 211218

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 Friday December 21, 2018 / 7:00 AM / Proshare News 

 

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PROSHARE ECONOMY

Nigeria’s Current Account Back Into Deficit In Q3 2018 - In Q3 2018 Nigeria’s current account returned to a deficit, equivalent to -2.9% of GDP, compared with a downwardly revised surplus of 4.4% the previous quarter. The explanation is not the usual slump in oil export earnings, rather a surge in imports to their highest level since Q1 2015. Source FBN Quest Read More 

Personal Statement By The MPC Member At The 121 MPC Meeting of Nov 21-22, 2018 - After two consecutive mild increases, headline inflation slowed, albeit weakly, in October 2018, reflecting a slight moderation in food inflation. The decline in food inflation more than compensated for the marginal increase in core inflation to produce the observed decline in the headline inflation. Source CBN Read More

Nigeria 2019 Outlook - As The Dominoes Fall - The major developments in the global scene—deteriorating Sino-American trade relations, increasing interest rates across large developed markets, and tightening commodity markets— represent bearish scenarios for Nigeria. Source Vetiva Read More 

OPEC Cuts Nigeria’s Oil Production Quota To 1.68 Million Bpd - Nigeria is expected to cut its crude oil production by 3.04 per cent to 1.685 million barrels per day for the first half of next year, as part of efforts by the Organisation of Petroleum Exporting Countries to reduce oversupply. Source Punch Read More 

Labour Gives FG December 31 Deadline to Submit Minimum Wage Report to N’Assembly -  The organised labour Thursday handed down December 31, 2018 deadline to the federal government to send the tripartite committee report on N30,000 minimum wage to the National Assembly. Source Thisday  Read More 

FAAC Shares N812.76bn To FG, States, LGs - The federal government, states and local governments have shared N812.76 billion as revenue for the month of November. Source Leadership Read More 

7 Key Takeaways from the Q3, 2018 Nigerian Unemployment Report - On Wednesday December 19, 2018 the National Bureau of Statistics released the report for Nigeria’s unemployment and under-employment rate for Q3, 2018. Source Proshare Read More 

Breakdown Of The 2019 FGN Budget Proposal - The Nigerian economy emerged from recession in Q2 2017, and the macroeconomic environment has stabilized and is recovering gradually. This has renewed confidence in the country’s growth prospects. Source Ministry of Budget & National Planning Read More 

 

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PROSHARE MARKETS

Summary of December 2018 FGN Bond Auction Results - Auction Result for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 13.53% FGN MAR 2025 (Reopening 7-Year Bond) & 13.98% FGN FEB 2028 (Re-opening 10-Year Bond). Source DMO Read More 

Access Bank To Hold An EGM On February 01 2019 To Seek Shareholders’ Approval on Potential Merger - An Extraordinary General Meeting of Access Bank PLC (“the Bank”) will hold at Balmoral Convention Centre, Federal Palace Hotel, 6 – 8 Ahmadu Bello Way, Victoria Island, Lagos on Friday, February 1, 2019 at 10.00 a.m.  Source NSE Read More 

NSEASI Pares Previous Day Loss; Inches Up By 0.32% - Equities market closed today on a positive note, as NSEASI appreciated by +0.32% to close at 30,802.90 basis points as against -0.35% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -19.46%. Source Proshare Read More 

Investors Look To Secondary Market To Fill Unmet Demand At Previous Day’s Auction - The FGN Bond market reacted positively to the low volumes sold at the previous day’s Bond auction. Yields compressed by c.11bps on the average across the Bond curve, as participants adjusted to accommodate the expected demand. Source Zedcrest Capital Read More 

Nasdaq and NSE Sign New Trading Technology Agreement - Extends Contract For An Additional Five Years - Nasdaq (Nasdaq: NDAQ) and The Nigerian Stock Exchange ("The Exchange" or "NSE") have announced that NSE, which services the largest economy in Africa, will continue leveraging Nasdaq’s matching engine technology for its equities and fixed income markets for an additional five years. Source Nasdaq & NSE Read More 

 

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PROSHARE BUSINESS  

PwC, Sigma Ratings Collaborate To Help Highlight Financial Crime Compliance And Business Integrity - PwC and Sigma Ratings Inc. yesterday announced the launch of a strategic relationship to bring innovative risk management services to companies around the world. PwC, Sigma Ratings Collaborate To Help Highlight Financial Crime Compliance And Business Integrity - PwC and Sigma Ratings Inc. yesterday announced the launch of a strategic relationship to bring innovative risk management services to companies around the world. Source PwC Read More

 

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PROSHARE FINANCE 

NAICOM Cancels State Insurance Producer Policy - NAICOM disclosed this in a circular on ‘Withdrawal of State Insurance Producer Operational Guidelines’, which was released by the commission on Thursday and signed by the Director, Policy and Regulation, Agboola Pius. Source Punch Read More 

Pencom To Enroll Additional 30m Nigerians In 5yrs - The nation’s pension scheme is targeting to enroll about 30 million Nigerians in the next five years, about 275 percent increase from current position. Source Vanguard Read More 

 

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