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

Proshare

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.

 

Economy

  • 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.

 

Business

  • 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 

NSE

  • 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. 

 

NASD

  • 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.

 

Proshare Nigeria Pvt. Ltd.


Related News

1.         Review of Key Developments in the Nigerian Economy Week 2 of 2019

2.        Review of Key Developments in the Nigerian Economy Week 1 of 2019

3.        Q1,2019: Key Political-Economic Developments to Watch in Nigeria

4.        2019 – A Year of Anxiety, Fear and Uncertainty

5.        PMI Reading No 69: Well Above Water

6.        FAAC Disburses N698.71bn in October 2018 - NBS

7.        NBS Publishes 2017 Social Statistics Report

8.       Technical Committee on Minimum Wage to look for Additional Revenue – Udoma

9.        A Spike in Inflation Rate – Any Monetary Policy Response?

10.    Non-oil Exports Provisionally At US$0.38bn in October 2018

11.     Annual Headline Inflation To Increase But Monthly Price Level Down

12.    Why Africa needs to Invest in its Public Sector Capacity Development - Aigboje Imoukhuede


 Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP