What To Expect From The Markets This Week - 091017


Saturday, October 07, 2017 08:00 AM / Proshare 

Economic Dashboard

 Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

From the Editor’s Desk

Recently, the second quarter 2017 report was made available by the Budget Office of the Federation.  As revealed in the report, revenue generated from value added tax in the second quarter stood at N243.31 billion, reflective of a 46% dip compare to budget projections. Revenue from Company Income Tax alone in the second quarter of 2017 stood at N206 billion, as it dipped by 52.6% compare to budget projections of N435.51 billion.  

Custom and exercise duty revenue stream generated N153.84 billion alone in the second quarter, thereby falling short of budget projections by 9.26%. The independent revenue stream generated N11.08billion, which is below the budget projection of N25.44 billion. Lastly, the solid mineral and other minerals failed to generate income, even though initial budget projections showed that the duo can generate N30.5 billion and N1.05billion, respectively.   

Fig 1: Non-Oil Revenue for the Second Quarter of 2017

 Proshare Nigeria Pvt. Ltd.

Source: OAF, Proshare Research

Gross non-oil generated stream accounted for N697.84 billion in the second quarter of 2017, which is 48.33% below the budget projection of N1.35 trillion. Holistically, N1.244 trillion was generated in the first half of 2017, depictive of 53.92 fall compare to the projections. Certainly most non-oil sources across board experienced an increase compare to the corresponding quarter. Such improvement was driven by improvement in corporate earnings and the wider tax base. Regardless of the accretion in non- oil revenue the wide shortfall between actual earnings and budget projection do call for adjustment on the expenditure side. Evidently revenue cannot provide the needed scaffold; pruning down the pump beyond fiscal cleaning is inevitable.                                              

Monday, October 9, 2017

The Board of Harvard Business School Association of Nigeria (HBSAN) in partnership with the Lagos State Government will host the Lagos State Infrastructure Roundtable today, while the Institute for Public-Private Partnerships (IP3)’s training on PPP Fundamentals: Strategies, Methods, and the PPP Cycle will commence in Abuja today. 

Stanbic IBTC Bank 2017 SME Capacity Building Series will hold today in partnership with the China Europe International Business School (CEIBS) on the theme “Time to Upgrade Your Business”, while Coronation Merchant Bank visits the Nigerian Stock Exchange to list its Mutual Fund. 

Tuesday, October 10, 2017

The 23rd Nigerian Economic Summit (#NES23) themed “Opportunities, Productivity & Employment: Actualising the Economic Recovery and Growth Plan” will commence in Abuja today, while Mr. Abubakar Bello, the CEO, of the Nigerian Export Import Bank will visit the Nigerian Stock Exchange and sound the closing gong. 

The National Association of Oduduwa Students (NAOS) will today honour Mr Olufemi Awoyemi, CEO, Proshare and the management of Proshare with the NAOS highest merit ward of excellence and induction into NAOS Hall of Fame as “Icon of Integrity” and “Most Outstanding Company in Nigeria 2017”, respectively. 

Wednesday, October 11, 2017

The 5th Edition of Medic West Africa 2017, an event hosting more than 4500 healthcare professionals and medical laboratory professionals will commence today in Lagos. 

Thursday, October 12, 2017       

Data Science Nigeria will commence its 2nd Bootcamp with a National Big Data Economy Summit today in Lagos themed “Theme: Driving the Economy through Data Science: How Data is the new Oil”, while PZ Cussons Nigeria Plc holds its Annual General Meeting in Abuja. 

The Minister of Mines and Steel Development, Dr. Kayode Fayemi will visit the Exchange today and sound the Closing Gong. 

Friday, October 13, 2017

The Tony Elumelu Foundation (TEF) will commence the 3rd annual TEF Entrepreneurship Forum today in Lagos. 

Saturday, October 14, 2017

The Businessday Banking Awards and the Lagos All Women SME 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!

 Proshare Nigeria Pvt. Ltd.


Contact for Details:

For further information, enquiry or submission of information, kindly contact market@proshareng.com and research@proshareng.com Tel: 0700 PROSHARE

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.  

Latest Report 

Money Supply: Reeling from Policy Response – Proshare Confidential September 2017 

Nigerian Capital Market and FX Online Trading Portals Ranking Report H2 2017 

The Nigerian Capital Market Service Report – September 2017 

Latest Videos

 Proshare Nigeria Pvt. Ltd.    Proshare Nigeria Pvt. Ltd.


 Proshare Nigeria Pvt. Ltd.    Proshare Nigeria Pvt. Ltd.


  Previous Week(s)

1.      What To Expect From The Markets This Week - 021017

2.     What To Expect From The Markets This Week - 250917

3.       What To Expect From The Markets This Week - 180917

4.     What To Expect From The Markets This Week - 110917


Related News

1.   Teaching Ethics to MBAs

2.   Investment in Infrastructure: A Tool to Grow the African Economy

3.   Matters Arising - Implications of Pioneer Status Incentives on SMEs

4.   Give Them Cash, Will They Thrive?

5.  Stanbic IBTC Holdings Q2 2017 Results Review - Likely Easing of Cost of Risk In H2 Bodes Well

6.   What you need to know about Coronation’s Mutual Funds

7.  Nigerian Economic Summit Group (NESG) 22nd Summit to focus on the theme ‘Made in Nigeria’

8. Nigerian Export-Import Bank Operating Guidelines for the Export Rediscounting & Refinancing Facility

9.   PZ Cussons Nigeria Plc: Earnings to Recover After a Bumpy Start to 2018

10. Stakeholders Stressed the Importance of Market Data at the 2nd Edition of NSE Market Data Workshop

11.   Proshare CEO Receives Award from the Association of Northern Nigerian Students

12.  What does Data Science mean to developing economy?

13.  Data Science is the new FOREX Earner

14.  Qualification Requirements to participate in Data Science Nigeria’s 2ND BOOTCAMP

15.   Mining and Tourism in Nigeria: The Case for the Preservation of Shere Hills (3)

16.  Nigeria's Extractive Industry - Presentation of 2013 Audit Report

17.   Tony Elumelu Foundation to Host Largest Gathering of African Entrepreneurs in the World

18.  #BDFintech2017: Stakeholders explore opportunities for Fintech growth in Nigeria


Read More  

1.       NSEASI Closes Above 36,000bpts; Records +2.49% Gain WoW

2.      Nigerian Stock Market Extends Gaining Streak as NSEASI Firms Up by +1.17%

3.      NSEASI Inches Up by +0.15% to Resume Uptrend; Market Breadth Closes Positive

4.      NSEASI Opens the Month in Red; Dips by -0.38% 

Proshare Nigeria Pvt. Ltd.

Related News