Monday, January 14, 2019 2.00PM / Ottoabasi Abasiekong for Proshare WebTV
It was an
eventful second week of January, 2019 for the Nigerian Economy and we
present the key developments that occurred during the week.
- The Federal Government signed an MOU with the
Nigeria Labour Congress (NLC) and other affiliate unions, and sent the new
national minimum wage bill to the National Assembly for passage.
- President Muhammadu Buhari inaugurated the
Technical Advisory Committee on the National Minimum Wage.
- The NLC and other unions held a nationwide
protest demanding that states, should align with the proposed N30,oooo minimum
wage or face imminent strike.
- The Nigerian Ports Authority (NPA) announced
it has completed the dredging of Warri Port in Delta State, which is
- The new International Terminal of the Nnamdi
Azikiwe International Airport was opened in the week for use.
- The Central Bank of Nigeria (CBN) in the week published the revised
version of its National Financial Inclusion Strategy
- Meristem Wealth Management a subsidiary of Meristem Securities, emerged
the first indigenous Nigerian Asset Management Firm to attain compliance with
the Global Investments Performance Standards, GIPS.
- The CBN injected $263m into the Secondary Retail FX Market and
CNY39m (Chinese Yuan) through a combination of
spot and short-tenored forwards, arising from bids received from authorized
- The Nigerian Mortgage Refinancing Company
last week, listed N11bn 13.80% Series 2 Fixed Rate Bonds at the Exchange in Lagos.
- NSE All-Share Index (ASI) and Market
Capitalization depreciated by 2.64% to close the week at 29,830.70 and
N11.124 trillion respectively. Similarly, all other indices equally ended the
week lower with the exception of the NSE Industrial Goods Index that rose by
1.00% while the NSE ASeM index closed flat.
- Market capitalization for
the NASD OTC in week 2 of 2019 increased
to ₦540.56 billion from ₦520.89 billion in the first
week, which shows a 3.20% increase in Capitalisation
A Spike in
Inflation Rate – Any Monetary Policy Response?
Non-oil Exports Provisionally
At US$0.38bn in October 2018
Inflation To Increase But Monthly Price Level Down
Why Africa needs
to Invest in its Public Sector Capacity Development - Aigboje Imoukhuede
Fears For The
Nigerian Economy In The Years Ahead – Fasua
Review of Key
Developments in the Nigerian Economy Week 1 of 2019
Political-Economic Developments to Watch in Nigeria
2019 – A Year of
Anxiety, Fear and Uncertainty
PMI Reading No
69: Well Above Water
10. FAAC Disburses
N698.71bn in October 2018 - NBS
11. NBS Publishes
2017 Social Statistics Report
12. All Region Terms
of Trade Index Rose Marginally By 0.10% - NBS
13. Nigeria’s Total
Public Debt Stock Stood At $73.21bn or N22.43trn in Q3 2018
14. Key Events in
2019 – Implications for Business and Investment - FSDH