Saturday, June 17, 2017 08:00 AM / Proshare
From the Editor’s Desk
The total amount of outstanding commercial paper in 2016, stood at 4.53 billion naira, thus reflecting a 353% shrink compared to the previous year. Moreover it implies how rising government security fused with a high natural rate has led to a crowd off of private capital in the money. Holistically it reflects the gradually stoke off more efficient private capital for public capital.
A graphical illustration of outstanding commercial paper from 2010 to 2016
Source: CBN, Proshare Research
Meanwhile, we recently released the Proshare Confidential for June 2017. The report pin points the nature of Nigeria’s debt as largely structural. This is as a result of persistent retrogressive subsidies, high costs of political systems and fiscal leakages. The fact that increasing debt has failed to achieve a positive correlation with growth over the years bolsters our position. A noteworthy point is that in the periods of prosperity, fiscal responsibility was slack, as the excessive crude account and federal government claims were paltry compared to revenue generated over those years.
Monday, June 19, 2017
The National Bureau of Statistics will release the 2016/17 Energy and Environmental Statistics today; while the United Capital Plc will visit the Exchange to list the United Capital Nigerian Eurobond Fund and Wealth for Women Fund. Continental Reinsurance Plc, Lasaco Assurance Plc and the Initiates Plc will be marked down today having declared a dividend of 14 Kobo, 3 Kobo and 3 Kobo, respectively.
Tuesday, June 20, 2017
The Chartered Insurance Institute Of Nigeria will today hold a Breakfast Seminar titled "Insurance Technology- Reshaping the Insurance Industry in Nigeria" in Lagos, while the National Bureau of Statistics will release the Q1 2017 Financial Services Data and Q3,Q4 2016 Gross Domestic Product by Expenditure and Income approach Data. The CFA Society Nigeria will today visit the Nigerian Stock Exchange (NSE) and sound the closing gong, while it also hosts a dinner in honour of Mr. Paul Smith, the Chief Executive Officer of CFA Institute.
Wednesday, June 21, 2017
The National Bureau of Statistics will today release the Annual Abstract of Statistics for 2012 – 2015, while the Director General of the Debt Management Office visits the NSE to sound the Closing Gong. The Debt Management Office on behalf of the Federal Government of Nigeria will reopen for subscription the 14.50% FGN JUL 2021, the 16.2844% FGN MAR 2027 and the 16.2499 MAR 2037 bond.
Thursday, June 22, 2017
The Executives on the BANKSETA International Executive Development Programme will visit the Exchange today and sound the closing gong. The Computer Warehouse Group (CWG) Plc and Great Nigeria Insurance Plc will hold their Annual General Meeting today The Social Change Summit 2017 a convergence of stakeholders drawn from government, business, civil societies, donors, academia and international organizations will hold today at the Federal Palace Hotel, Lagos.
Friday, June 23, 2017
The Nigerian Healthcare Excellence Award will hold today in Lagos.
Saturday, June 24, 2017
The National Bureau of Statistics will release the May 2017 Monthly FACC Disbursements Reporttoday.
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