Nigeria in 1min: Economic, Business and Financial Headlines – 100419

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Wednesday, April 10, 2019 / 06:35 AM / By News Aggregator / Header Image Credit: @AsoRock

 

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PROSHARE ECONOMY

Nigeria: Macro-Economic Update On FX and Inflation - March 2019 - The balance of flows at the Investors and Exporters Window (IEW) turned to a positive of $372million in the month of March, from a net outflow of $208 million in February. Source ARM Research Read More

Brent Breaks $70 On Libya Violence - OIR 090419 - Oil prices hit a five-month high on Monday, with WTI surging above $64 per barrel and Brent topping $71. “The mood is increasingly turning bullish, but several feedback loops are about to start spinning that stand in the way of a prolonged oil rally,” Norbert Ruecker of Swiss bank Julius Baer told Reuters. Source Oilprice Read More

Lagos State Has The Highest Debt Profile  in 2018 - NBS - Nigerian States and Federal Debt Stock data as at 31st December 2018 reflected that the country's foreign and domestic debts stood at $25.27bn and N16.63trn respectively.  Source NBS Read More

FG Failed To Implement N734.53bn Capital Budget In 2017 –FRC - The Federal Government failed to implement capital budget worth N734.53bn in 2017, the Fiscal Responsibility Commission has said. This means that the government failed to implement 33.78 per cent of the N2.17tn capital budget which was passed for 2017 by the National Assembly. Source Punch Read More

Senate Approves MTEF, Gets 2019 Budget Report Thursday - The Senate on Tuesday approved the 2019-2021 Medium Term Expenditure Framework and Fiscal Strategy Paper after considering the document for 155 days. Source Punch Read More

 

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PROSHARE MARKETS

The Global Economy: A Delicate Moment - A year ago, economic activity was accelerating in almost all regions of the world. One year later, much has changed. Source IMF Blog Read More 

Sell Pressure Persists as NSEASI Dips By -0.04% Amid Positive Market Breadth - Equities market closed today on a negative note, as NSEASI depreciated by 0.04% to close at 29,149.46points as against 1.53%  depreciation recorded previously. Source Proshare Read More 

Bond Yields Trend Higher Following Selloff on Mid and Long Tenors - The FGN Bond market traded on a bearish note, with yields rising higher by c.10bps on the day following some selloff mostly on the 2027s and 2036s towards the close of trading, with yields on both maturities traded as high as 14.75%. Source Zedcrest Capital Read More 

Again, CBN Boosts Forex Market with $210m - The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market in continuation of its sustenance of liquidity in that segment of the market.  Source CBN Read More 

Wema Bank Plc FY 2018 Conference Call and Earnings Presentation - The Key Takeaways - Wema Bank Plc held its FY 2018 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals. Source Proshare Read More

 

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PROSHARE BUSINESS 

Customs Generate N65.5bn From Three Commands In Q1 - The Ports and Terminal Multi-purpose Limited, Command, Lagos; Port Harcourt Area 11 Onne Command, and the Ogun Area Command of the Nigeria Customs Service generated  a total of N65.5bn revenue in the first quarter of 2019. Source Punch Read More

Sale Of New Vehicles Drops By 400 Per Cent In 5 Years - The situation, according to experts, could become much worse as there is a web of uncertainty over the status of the Nigerian Automotive Industry Development Plan Bill passed into law in 2017. Source Dailytrust Read More

 

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