What To Expect From The Markets This Week- 190318


Saturday, March 17, 2018 08:00 AM / Proshare


Economic Dashboard

 Proshare Nigeria Pvt. Ltd.

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From the Editor’s Desk

Recent information from the Debt Management Office, showed an uptick in total government borrowings from N17.189 trillion at the end of November 2017 to N18.376 trillion at the end of 2017; reflecting a 6.5% and 26% increase when compared to the previous month and year. 

This new development results into an increase in total government debt to gross domestic product (GDP) ratio from o.1411 to 0.159; thus, sustaining the trend of government debt growing faster than GDP. However, the present debt dynamic is largely a product of government slant toward more external debt.

Fig: Total Public Debt  

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Source: DMO


In accordance with government policy to explore more external debt funding in attempt to claw back on the growth of debt recurrent expenditure, external debt rose from N3.479 trillion in December 2016 to N5.781 trillion, thus reflecting a 66% increase in same. 

The increase in external debt stands at 2% of GDP, at the same time making it 31.4% of government total debt mosaic: evidently tilting closer to the 40% target. However, government domestic debt rose from N11.058 trillion to N12.589 trillion, thus reflecting a 13% increase in government domestic debt.  At the same time, the total state debt rose faintly from N2.822 trillion at the end of 2016 to N3. 348 trillion in 2017, underlining an 18.26% increase in total state debt. 

Holistically, the total public debt rose from N20.373 trillion in November 2017 to N21.725 trillion at the end of 2017, thus reflecting a 6.67% and 33% compared to the previous month and an annual basis.  The asset ratio still remains below the individual global threshold of o.4. At the same time, external debt to asset ratio remains below the 2017 sustainable indicator of 0.053. However the possibility of growth in external debt still outpacing GDP growth coupled with the inherent high concentration of export revenue from oil; certainly threatens the 2018 liquidity indictor of 6.1%.    

Monday, March 19, 2018

The 7th Quarterly Presidential Business Forum for Private Sector Stakeholders will hold today in Abuja, while the Nigerian Stock Exchange on behalf of the African Development Bank (AfDB) African Financial Markets Integration program (AFMI) will today facilitate an engagement forum with the buy-side community of the Nigerian Capital Market. 

Total Nigeria Plc will be marked down from today haven declared a dividend of N14.00.

Tuesday, March 20, 2018

The National Bureau of Statistics will today release the 2017 Report on JAMB Admitted Candidates by States & Gender within Faculty, while Executives of the Institute of Directors (IoD) Nigeria will visit the Exchange to sound the Closing Gong. 

The Securex West Africa Event will commence today in Lagos, while the Real Estate Developers Association of Nigeria (REDAN) commences its Building Expo today in Abuja with the theme “Enhancing Real Estate Development Through Collaborative Effort”, and the Nigerian Institution of Estate Surveyors and Valuers will commence her 48th Annual Conference and AGM themed “Real Estate and Infrastructure as Drivers of National Economic Development”. 

The #NEITISYMPOSIUM on “Next Steps on PIGB and the Oil Sector will hold today via Twitter, KPMG holds its Tax Twitter Chat focusing on the topic “Countdown to filing individual tax returns in Nigeria: Matters Arising”. 

The Scrum Alliance Certification Workshop powered by The Agile Advisor will commence today, while a Policy Hackathon powered by i4Policy will hold today in Lagos, and Tech-Women Mentors (from Twitter, Netflix, LinkedIn, Mozilla, US Navy, Northgate, Fairrer Samani,  Autodesk, Juniper Networks) will be hosted to facilitate a professional development workshop at the Covenant University, with the topic “The Future of STEM: Why women belong here!”

Wednesday, March 21, 2018

The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), will be conducting a bond auction today, while the National Bureau of Statistics will today release the 2017 Report on Road Transport, and the Centre for Financial Journalism holds its Bullion Lecture. 

WAAW foundation in partnership with Enspire incubator will host a two day 3D Modelling & Printing Workshop today in Abuja, while the 13th General Assembly/Official Launch of West African Tax Administration Forum (WATAF) will commence in Abuja. 

Medview Airline Plc will be marked down from today haven declared a dividend of N0.03k.

Thursday, March 22, 2018        

The Nigeria - South Africa Chamber of Commerce (NSACC) will hold its Breakfast Meeting today with the topic “The Manufacturing Sector as the Spring Board to Nigeria’s Economic Growth”, while the Lagos Business School holds an Employee Engagement Challenge, and the Nigerian Export Promotion Council (NEPC) holds a workshop on Leveraging E-Commerce for International Trade in Lagos. 

The 7th Innovention Series powered by Verdant Zeal will hold today in Lagos, while the African Centre for Media & Information Literacy holds a town hall meeting on “WhistleBlowing and the Fight against Corruption in Nigeria” in Imo State, and the National Association of Nigeria Travel Agencies (NANTA) commences its 42nd Annual General Meeting in Port Harcourt. 

The Institute of Chartered Accountants of Nigeria (ICAN) Board of Taxation and Fiscal Policy Management Faculty will hold a One Day Seminar today themed “Tax Planning and Compliance in the Era of Transparency and Global Cooperation”, while Website Magazine will today host a Webinar to present its Webinar Benchmarks Report: 2018. 

Friday, March 23, 2018

The Nation Building Workshop organized by Apostles In The MarketPlace (AiMP) will hold today in Lagos, while the CIBN training on Corporate Governance & Board Management holds, and Aisha Yesufu, CEO, TheCitizensHub (Abuja) shares practical insights and innovative tools at #TecHerMeets. 

The AfricLearn Launch will hold today in Lagos, while #TheShiftConference tagged "MOMENTUM | Taking Territories" holds in Ado-Ekiti; and the Funding Space in collaboration with Bank of Industry and Afrigrants will today holds a Seminar themed a “Time is Now; Enhancing Rural & Urban Women’s Access to Finance” 

United Capital will hold its Annual General Meeting today in Lagos.

Saturday, March 24, 2018

The Young Leaders Connect Conference will hold today in Lagos.


 Check out our Events Calendar for event details and follow us on Web, TV, APP and Social Media for updates as the week unfolds. Yours to Serve!

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