Sunday, October 07, 2018 08:00
AM / Proshare Content
Nigeria: Economic Dashboard @ 051018
From the Editor’s Desk
According to the recently published Central Bank of Nigeria Statistical Report 2017, the current account sustained its upward trajectory from N687.9 billion at the end of 2016 to N3.174 trillion at the end of 2017. The outward shift in the current account was due to the increase in oil exports under the period under review from N8.093 trillion to N12.912 trillion, thus reflecting a 60% increase compared to the previous year.
Although, the dynamic further boosted the current account balance as a percentage of 2017 GDP from 0.7% to 2.8%. Moreover, the current account is expected to remain positive in 2018 especially with oil price enjoying an uplift to reach a 4-year high.
Evidently, with import induce demand less likely to take place coupled with all already positive current account at the end of first quarter of 2018. It strengthens the existing scaffold for a positive current account at the end of 2018. In addition, it reduces the possibility of liquidity hiccups in near terms which could provide additional breather to both the fiscal and monetary side.
Fig 1: Current Account and Financial Account
The Financial account slipped back into deficit territory as it fell from N732 billion to a deficit of N1.321 trillion. The erosion in the financial account balance was inevitable due to an upshot in the asset components at the end of the year 2017.
However, fallout weighed heavily on the financial and capital account which resulted in an inward shift in financial and capital account balance to GDP from o.7% to -1.2%.
A slowdown in the absorption of corporate leveraging by DMBs has taken hold due to the rising cost of Corpus coupled with leaner portfolio investment compared to 2017.
Obviously, the build-up on its reserve’s asset in the near term evidently portraying limited trigger points that can offset the present deficit balance in financial account at the end of the year 201. Thus, a deficit financial and capital account balance is most certain in 2018.
Monday, October 08, 2018
The 6th National Housing Summit holds today at The NAF center, Kado, Abujawhile the Chartered Insurance Institute in partnership with Ministry of Commerce & Industry is hosting the Regional Conclave on India and West Africa in Abuja, Nigeria.
Also, Fidelity Bank Nigeria Plc “Get Alert in Millions Saving Promo Season 3” Press Conference holds today at its Head Office, Kofo Abayomi Street, V.I, Lagos.
Tuesday, October 09, 2018
The LagosMSMEFair will commence on this day with the theme Enhancing Product Quality for Global Competitiveness in Lagos while the Efina Media Roundtable will hold same day titled The Role of Media in Driving Financial Inclusion in Lagos
The orientation for entrepreneurial and business management students of National Open University of Nigeria (NOUN) Holds today at its Model Study Center while the Become a Partner with EGM holds same day at Lagos.
The NSE-Bloomberg CEO Roundtable with the theme: Reshaping The Nigerian Economy for Sustainable growth: Leveraging the Fourth Industrial Revolution as a Catalyst for Advancement holds today in Lagos while the Artificial Intelligence/Big Data Demystified for Executive, holds today at Eko Hotel and Suite Victoria Island, Lagos.
Wednesday, October 10, 2018
LASACO Assurance Plc will on this day hold its Extra General Meeting in Lagos while National Bureau of Statistics, Nigeria (NBS) will publish its Q1 and Q2 2018 Job Creation Report.
The holds today at Oriental Hotel, Victoria Island, Lagos while the Medic West Africa. Events also holds same day at Eko Hotels & Suites, Lagos.
United Capital in partnership with Proshare will this day hold a Tweet Meet titled InvestNow, the easy way. Join the conversation via @UnitedCap and @Proshare on Twitter at 4pm using the hashtag #DreamBigInvestNow and #AskProshare
Thursday, October 11, 2018
Morison Industries Plc, will on this day hold its Annual General Meeting in Lagos while the Technical Committee holds today at Victoria Island, Lagos.
The Nigerian Build Expo Construction & Building Exhibition holds today at the Landmark Centre, Lagos, Nigeria while the 6th edition of NECA’S Network of Entrepreneural Women Summit with the theme Unite: Women Collaborating for Growth also holds today at NECA House Alausa Ikeja , Lagos
Friday October 12, 2018
The Nigerian Cancer Society’s AGM/Scientific Conference holds today at Shehu Musa YarAdua Centre, Abuja.
Check out our for event details and follow us on , , and for updates as the week unfolds. Yours to Serve!
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