Review of Key Developments in the Nigerian Economy Week 3 of 2019


Monday, January 22, 2019 11.00AM / Ottoabasi Abasiekong for Proshare WebTV


It was an eventful third week of Nigerian Economy and we present the key developments that occurred during the week.



  • Nigeria and Brazil signed a bi-lateral agreement with a $1.1bn loan from the Brazilian government, for the launch of the “Green Imperative”. This is a mechanized agriculture programme for Nigeria, which will improve Agricultural output and create more jobs. 
  • Nigeria’s Inflation rate figure for December, 2018 was released by the National Bureau of Statistics and increased from 11.28% in November 2018 to 11.44% in December 2018.
  • The National Bureau of Statistics reported that about N812.76bn was disbursed by the Federal Account Allocation Committee (FAAC) across the Federal, State and Local Governments, in December 2018.
  • The Africa Development Bank “Africa Economic Outlook Report”  projected that the African region will grow by 4% in 2019.



  • The House of Representatives passed the amended Company Allied Matters Act 2018 into Law.
  • The London Stock Exchange launched its “Companies to Inspire Africa Report” with Proshare making the list alongside about 359 other companies from Africa.


Financial Market

  • The Central Bank of Nigeria hosted a two-day stakeholder conference in Abuja, to produce three key policy documents that will see the nation achieve an 80%  financial inclusion strategy by 2020.
  •  Access Bank Plc obtained an in-principle regulatory approval from the Securities and Exchange Commission (SEC) and Central Bank of Nigeria (CBN), on its proposed merger plans with Diamond Bank Plc. 


Capital Market 


  • The NSE All-Share Index (ASI) and Market Capitalization appreciated by 3.94% to close the week at  31,005.17 and N11.562 trillion respectively. Similarly, all other indices finished higher with the exception of the NSE Banking Index that depreciated by 1.04% while the NSE ASeM index closed flat. 



  • As at close of trade week on 18 January 2019, market Capitalisation increased to 541.99 billion from last week's previous 540.56 billion, which shows a 0.26% increase in Capitalisation. Also the USI for the week ending 18 January, 2019 recorded an increase from 752.42 points to 754.40 points.


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 Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

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