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.

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

