Saturday, October 21, 2017 08:00 AM / Proshare
From the Editor’s Desk
The National Bureau of Statistics recently made available Inflation figures for September 2017, and as earlier expected core inflation maintained its downward trend while core inflation dipped from 12.3% to 12.2%. Regardless, food inflation came in contrary to our expectations. Our forecast suggested food inflation will sustain a downward trend due to the ushering in of the harvest season, however the actuals showed that persistent push factors such as energy prices and transportation was responsible for the reversal of food inflation. Obviously it reflects the difficulty faced by ex-ante in the face of push factors. Moreover it also underlines the reluctance of food prices to fall, as it remains largely rigid to the upside.
Month on month inflation fell from 0.97% to 0.78%, such dip is a product of persistent emasculation of money supply. Headline inflation dip slightly from 16.1% to 15.98% in the month of August, evidently food inflation remain an up risk to the 15% target for 2017.
Fig 1: Month on Month Inflation
Source: NBS, Proshare Research
In the week ahead, the Debt Management Office will re-open both the 5 year and 10 year instrument, issuing each instrument at N5o billion each. Certainly given the maturity of each instrument, they provide limited room to replenish cash. Regardless we do not see any substantial change to the hummed yield curve.
Monday, October 23, 2017
The 6th edition of the 3INVEST Annual Real Estate Unite will commence today in Lagos
Tuesday, October 24, 2017
The National Bureau of Statistics will today release the September 2017 Monthly FAAC Disbursement report, while the Southwest Investment Exhibition & Summit holds.
The Brand Nigeria Leadership Forum 2017 themed “Enhancing the Value of the Brand Nigeria” will hold today in Lagos, while the Waste Summit 2017 themed: Sustainable Management of Municipal Waste: Challenges, Opportunities and Policies in Nigeria” will holds in Abuja.
The International Conference on Supply Chain Management will commence today.
Wednesday, October 25, 2017
FGN’s 5year and 10year bond will be offered for subscription today.
Union Bank’s Centenary Event themed “The Next 100: A Call to Action” will hold today in Lagos, while the Cement Company of Northern Nigeria Plc, Guinness Nigeria Plc, Equity Assurance Plc and Ikeja Hotel Plc hold their Annual General Meeting.
The Lagos Chamber of Commerce & Industry (LCCI) will today hold a seminar tagged “IOE: Enabling SME for Growth & Development”, while the Hive Africa Global Leaders Program commences.
The Institute of Directors will hold its October 2017 Member’s Evening themed “Beyond Recession: Outlook for the Nigerian Economy” today, while the 3rd AgriBusiness Tradeshow and Conference commences in Abuja.
The 2017 Cyber Security Challenge Nigeria Conference & Hackathon themed “Building an Effective Cyber Protection Team for National Security” and the Nigeria Hotel and Tourism Investment Conference will commence today.
Thursday, October 26, 2017
The Institute of Directors will hold its 2017 Fellows’ Investiture themed “Infrastructure Development as a Panacea for National Growth”, while the Joan Agha Foundation 5th Annual Lecture for Women Entrepreneurs themed “Empowering Women Entrepreneurs for Sustainable Growth” will hold in Lagos.
Tripple Gee & Company Plc Annual General Meeting and the 17th NECCI PR Roundtable themed themed “the New Frontiers of Investor Relations- Access and Opportunities” will hold today.
Friday, October 27, 2017
The Gateway Business Awards will hold today in Ogun State, while Cutix Plc holds its Annual General Meeting today in Anambra State.
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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