Monday, January 07, 2019 3.00PM /
Ottoabasi Abasiekong for Proshare WebTV
It was an eventful first week of January,
2019 in the Nigerian Economy and we bring to you key developments that occurred
during the week in review.
Economy
- The
leadership of the Nigerian Labour Congress and other affiliate unions held a
meeting last week with the Federal Government to reach a possible agreement on
the N30,000 minimum wage. There was no agreement and it has been rescheduled
for today.
- A faction of
the Niger-Delta Militants group attacked a Conoil Upstream platform in Bayelsa
State, sending signals on the need to step up peace efforts in the oil-rich
region.
Financial Market
- The Central
Bank of Nigeria(CBN) on Friday, January 4, 2019, made its first intervention in
the inter-bank sector of the Foreign Exchange market for 2019 with a total sum
of $210 million injected into the wholesale and other sectors of the
market.
Capital Market
NSE
- The Nigeria
stock exchange removed Diamond Bank, NEM Insurance and Continental Reinsurance
from the Corporate Governance Index.
- The NSE
listed the expanded shares of Cement Company of Northern (CCNN) with
market value hitting N254bn.
- The All
Share Index (ASI) for the first week of January, 2019 depreciated by -1.28% on
a W-o-W basis. While the Market Capitalization appreciated by 0.78%
to close the week at 30,638.90 and N11.426 trillion respectively.
NASD
- Market Capitalisation increased to N520.89 billion from last week’s previous N509.69 billion, which shows a 2.20% increase in Capitalisation. Also the USI for the week ending 04 January,2019 recorded a 2.20% increase from 733.35 points to 749.47 points.

Related News
1. Q1,2019: Key
Political-Economic Developments to Watch in Nigeria
2. 2019 – A Year of
Anxiety, Fear and Uncertainty
3. PMI Reading No
69: Well Above Water
4. FAAC Disburses
N698.71bn in October 2018 - NBS
5. NBS Publishes
2017 Social Statistics Report
6. All Region Terms
of Trade Index Rose Marginally By 0.10% - NBS
7. Nigeria’s Total
Public Debt Stock Stood At $73.21bn or N22.43trn in Q3 2018
8. Key Events in
2019 – Implications for Business and Investment - FSDH
9. Manufacturing
PMI Stands at 61.1% in December 2018 from 57.9% in November 2018
10.FAAC Disburses
N788.14bn in November 2018 - NBS

