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Nigeria in 1min: Economic, Business and Financial Headlines – 050319

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 Tuesday March 05, 2019 / 7:00 AM / Proshare News

 

 

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PROSHARE ECONOMY

Nigerian Economy Post-Elections;Till 2023? - Following the conclusion of the closely contested 2019 elections and the re-emergence of Muhammadu Buhari as President of the Federal Republic of Nigeria, with a fresh 4-year mandate beginning on the 29th of May 2019. Source Afrinvest Research Read More  

Nigeria’s Foreign Trade Figures Decline 5% QoQ in Q4 2018 - Nigeria’s foreign trade figures declined 5.01% between Q3 2018 and Q4 2018; the recently released trade statistics released by the National Bureau of Statistics (NBS) showed that trade values slumped between Q3 and Q4 2018, but rose 42.9% between Q4 2017 and Q4 2018. Source Teslim Shitta-Bey/Proshare Research Read More 

Policies to Increase National Disposable Income – FSDH - If an individual, business, government or, by extension, a country wants to increase its spending and savings power, there must be a plan to increase the ability to generate income. Source FSDH Research Read More 

African Development Bank Holds Dialogue with Egyptian Government - An African Development Bank Group delegation, led by Dr. Khaled F. Sherif, Vice-President, Regional Development, Integration and Business Delivery, has arrived in Cairo for a four-day dialogue mission with the Egyptian Government beginning Monday. Source AFDB Read More 

Saudi’s $100bn Investment in India Threatens Nigeria’s Oil Export - In the wake of growing uncertainty in the price of crude oil, Nigeria faces the challenge of losing its market in Asia as Saudi Arabia has concluded plans to invest $100 billion in India, Nigeria’s major oil importer, thus threatening future importation of the country’s crude by India. Source Thisday Read More

NNPC Loses N228.1bn Revenue as Refineries Remain Dormant The Nigerian National Petroleum Corporation lost revenue of N228.1bn between April and November 2018, a period of about seven months, as its refineries continued to perform poorly, the latest industry data revealed. Source Punch Read More

Shell Rules Out Force Majeure on Oil Export after Nembe Fire - Royal Dutch Shell has disclosed that it does not have plans to declare force majeure on Bonny Light exports after a fire in an area around a key pipeline. Source Vanguard Read More

Finally, NERC Arbitrates on NBET’s Management Crisis - After months of upsetting internal management crisis at the Nigerian Bulk Electricity Trading Plc (NBET), a government-backed bulk power purchaser in Nigeria’s privatised electricity market, the Nigerian Electricity Regulatory Commission (NERC) last week moved in to use its regulatory power to stop the situation from further deteriorating. Source Thisday  Read More


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PROSHARE REGULATORS

Currency In Circulation Drops By N189.33bn In One Month - Currency in circulation dropped by N189.33bn to N2.139tn at the end of January 2019 from N2.329tn as of December 2018, according to the Central Bank of Nigeria. Source Punch Read More

 

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PROSHARE MARKETS

Money Market Rate Increased As Overnight Rate fell To 17.42% - The money market rate increased last week as the Overnight rate (OVN) and Open Buy Back (OBB) fell to 17.42% and 16.33% respectively. Source Anchoria Research Read More 

March 2019 FGN Savings Bonds Offer For Subscription - Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004. Source DMO Read More 

Afrinvest Stock Recommendation for The Week 040319 - The bearish run in the domestic equities market was sustained last week as investors sold off in bellwethers – ZENITH, NESTLE and GUARANTY. Source Afrinvest Research Read More 

Dangote Cement Plc - Still On an Upward Trajectory - Dangote Cement Plc recently released its FY’18 results, which showed that top line grew by 11.9% to N901.2 billion, in line with our estimates (+3.4% deviation). Source CardinalStone Research Read More 

Investors Gain N112.88bn as Market Opens the Week on A Positive Note - Equities market closed today on a positive note, as NSEASI appreciated by 0.95% to close at 32,129.94basis points as against 0.34% appreciation recorded previously. Source Proshare Read More 

The February 2019 Nigerian Capital Market Service Report – Proshare - Nigeria’s Equities Market closed the month of February 2019 in green as NSEASI inched up by +3.81% as against -2.78% loss recorded in the month of January 2019 while the NASD USI closed in red with -0.95% loss recorded at the end of the month under review as against +0.21% gain in January 2019.Source Proshare Research Read More

Investors Panic as CBN Cuts off Long Tenor OMO Offering - The FGN Bond Market traded on a mixed note, with yields compressing on the shorter end of the curve, in tune with decline in long tenor T-bill Yields. Source Zedcrest Capital Read More

Another Merger Benefit as Diamond Bank Introduces PayDay Loan - PayDay Loan is an instant salary advance service available to all customers who have their salary accounts in Diamond Bank. Source Diamond Bank Read More

 

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PROSHARE BUSINESS 

China to Slash Taxes, Boost Lending to Shore up Slowing Economy-China will cut billions of dollars in taxes and fees, increase infrastructure investment, and step up lending to small firms as the government boosts stimulus to shore up an economy growing at its slowest pace in almost 30 years. Source Reuters Read More


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PROSHARE TECHNOLOGY

How Drones Will Impact Businesses - At the February edition of the Nigeria-South Africa Chamber of Commerce Breakfast meeting, the focus of discourse was “Leveraging Emerging Technology For Improved Business Performance”. Source Proshare Read More

Nigerian, Canadian Firms in N7.2b Telecoms Infrastructure Deal - Nigerian firm, Pan African Towers (PAT) Limited, has entered into a N7.2 billion ($20 million) telecoms infrastructure investments deal with Canadian firm, Watt Renewable Corporation. Source Guardian Read More


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