What To Expect From The Markets This Week - 090718


Saturday, July 07, 2018 08:00 AM / Proshare Content


Nigeria: Economic Dashboard @ 060718


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From the Editor’s Desk                                        

During the week, we released the June 2018 Proshare Confidential Report which reviewed the recent data from the World Bank Poverty Clock. According to the Poverty Clock, Nigeria had in 2017 overtaken India as the country with the highest number of extreme poor individuals, as 86.99 million Nigerians are presently considered to have fallen within the extreme poverty line; which reflects a scenario where about 86.99 million Nigerians are living below $1.9 a day.

 Fig 1: Extreme poverty across Selected Countries

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Source: World Poverty Clock


Firstly, this captures the acute level of income inequality and the widening of the lower base of the pyramid which is presently witnessed in the country. Secondly, the weakness in qualitative indicators have become more accented due to the hysteresis emerging from the anti-clock wise movement in the cycle. Lastly, the lingering negative output gaps which has led to a below par performance in growth have failed to stall the haemorrhage experienced by per-capital income.    

Even though leading indicators such as GDP, inflation, exchange rate and Purchasing Managers’ index have begun to beam green light, it has failed to revive the social well- being of individuals. Therefore, there is an ongoing disconnect between leading indicators and social well- being. This disconnect is so vivid that 45.7% of Nigerians are considered extremely poor.       

Fig 2: Percentage living within Extreme Poverty

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Source: World poverty clock

In an attempt to provide measures on how best to address poverty, the study considered Ethiopia’s broad based approach and gradual transition to a private sector led economy.

Certainly, the implication of dampening in social well-being have come with dire consequences, as it further weakens the nation’s ability to improve its income drive. More so, the growing dependency ratio, crime and widening inequality put the socio-economic fabric of this country under severe pressure. At the same time, the dynamic forces the fiscal authority in a position to take on social intervention programs, thereby widening the fiscal deficit.

Thus, there is a need to address factors that hold back private capital formation, improve trade openness and open sectors currently under the government’s full control.  In reality pro-poor policies are palliatives that complement structural reform, since they cannot on their own provide long term solutions. More than ever before there is a need to address the growing structural distortions. The drawback from the Lua da Silva reform where pro poor polices took the front row ahead of structural reforms dented Brazil’s potential output. This we must avoid.     


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News Post:  Poverty Tracker and Nigeria: Raising The Red Flag

Read the Full Report HERE



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Monday, July 09, 2018 

The Biennial General Meeting of the Nigerian Institute of Architects, Abuja Chapter will kick start this day in Abuja, while the 12th International Conference and General Assembly of the Society for Peace Studies and Practice (SPSP) commences from this day in Abuja.


Presco Plc, Learn Africa Plc and the Initiates Plc will be marked down this day by the NSE; having declared a dividend of N2.00, N0.14k and N0.04k, respectively in the preceeding week.



Tuesday, July 10, 2018

The 48th Induction Ceremony of the Association of Accounting Technicians West Africa (AATWA) will kick start this day in Lagos, while the Lagos State Mindset Reorientation and Employability Skills Training for Unemployed Lagos State Youths commences on the same day.


The 2018 Nigeria Agrofood, Food & Agriculture Technologies Exhibitions will kick start this day in Lagos just as the third edition of the Annual National Organic Agriculture Business Summit holds in Lagos; while ACT Foundation holds its Breakfast Dialogue 2018 with the theme “Sustainable Impact in Africa”.


Wednesday, July 11, 2018

The Afreximbank Annual General Meeting (AGM) will commence this day in Abuja, just as NASD OTC Plc holds its AGM in Lagos.


Mr. Dele Momodu, publisher of Ovation Magazine, will this day launch three separate books to commemorate the 20th anniversary of MKO Abiola’s death.


What did we miss? 



Thursday, July 12, 2018           

The Fintech Association of Nigeria will this day hold its second Social Meet to mark its first (1st) year anniversary, while Next CFA's Startups Hangout holds on the same day in Lagos.  


Trans Nationwide Express Plc and Guinea Insurance Plc will this day hold their Annual General Meeting in Lagos and Benin, respectively.


The National Bureau of Statistics will this day release its AGO, LPG, HHK and PMS Price Watch Report for June 2018.



Friday, July 13, 2018           

Conoil Plc will hold its Annual General Meeting this day in Akwa Ibom, while the National Bureau of Statistics will this day release its CPI and Inflation Report for June 2018.



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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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Contact for Details:

For further information, enquiry or submission of information, kindly email market@proshareng.com and research@proshareng.com Tel: 0700PROSHARE (070077674273). We are waiting to hear from you!


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Latest Reports This Past Week

1.      Proshare Confidential Report – June 2018

2.     FDC’s LBS Executive Breakfast Meeting Report – July 2018



Latest Videos This Past Week

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View More Economy, Business, Finance, Investment, Creative Art Videos from WebTV Here


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Previous Week(s) Market Outlook  

1.      What To Expect From The Markets This Week - 020718

2.     What To Expect From The Markets This Week - 250618

3.     What To Expect From The Markets This Week - 180618

4.     What To Expect From The Markets This Week - 110618



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Read More - The Monthly Proshare CONFIDENTIAL   


1.       POCKET Economics: Addressing Income Inequality

2.      The Silent Drug Epidemic: A Gathering Storm

3.      Judging IMF’s Position on Development Indices

4.      Money Market: The Folk Road

5.      The Headache of Missing Targets

6.      2018 Outlook on the Nigerian Economy: The Need for an Even Keel

7.      Nigeria External Economy and the White Noise of Import Dependency

8.     States and the Rising Weight of Debt

9.      Money Supply: Reeling from Policy Response

10.  How Rail and Energy Will Deliver a Robust Economy for Nigeria

11.   Too Big Government: The Hysteria of Developmental Quagmire

12.  The Nigerian Debt Conundrum and the Need for Automatic Stabilizers 

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