Category

Research

In the news: CBN pumps $304.4m into FX market

By | Research | No Comments

This Day BDC Operators Hail Moves to Return Nigeria to JP Morgan Index The Association of Bureaux De Change Operators of Nigeria (ABCON) has said the federal government’s plan to open talks with JPMorgan Chase & Co. for their reinstatement in the local-currency emerging-market bond index will bring great benefits to the economy. Kaduna Refinery Shut over Lack of Crude The Kaduna Refining and Petrochemical Company (KRPC) shut down operations on January 15 due to the non-availability of crude oil. CBN Pumps Fresh $304.4m into Forex Market The Central Bank of Nigeria (CBN) at the weekend intervened in the Retail…

Read More

In the news: Stock Market hits nine-year high

By | Research | No Comments

Punch Fuel queues return to Lagos, Ogun …NNPC blames hitch on vessels berthing Long queues of desperate motorists and other users of Premium Motor Spirit returned to many filling stations in Lagos and Ogun states on Saturday and Sunday after a brief relief from the severe scarcity of the product that rocked the country from December to early this month. PIGB’ll reduce N200bn oil revenue losses – NEITI The Nigeria Extractive Industries Transparency Initiative on Sunday welcomed the decision by both chambers of the National Assembly to pass the Petroleum Industry Governance Bill and stated that it would help reduce…

Read More

In the news: FG to borrow N110bn via bond auction

By | Research | No Comments

Punch FG to borrow N110bn via bond auction The Federal Government is planning to raise N110bn by selling sovereign bonds with maturities of five and 10 years on January 24. N’Delta militants threaten fresh attacks on oil assets After a year of ceasefire, militants under the aegis of the Niger Delta Avengers on Wednesday threatened to attack some offshore oil and gas facilities in the oil-rich region in a few days’ time. No suspicious items in 2018 budget, says FG The Ministry of Budget and National Planning on Wednesday said contrary to claims that the 2018 budget was filled with…

Read More

ECONOMIC UPDATE: Africa Economy back from the Brink

By | Research | No Comments

Given recently released data and estimates, Africa’s economy is back from the brink and on course for a modest recovery in 2017 as higher global commodity prices supported growth in Sub-Saharan Africa (SSA) while fiscal consolidation was responsible for the modest growth seen in the North. Specifically, after increasing at its slowest pace in 2 decades in 2016 (+1.4% YoY), IMF estimates SSA growth at 2.6% YoY following strong rebound in Nigeria, South Africa (SA) and Angola. Whilst higher crude production and prices propelled oil sector growth in the two largest oil exporting nations in Africa, the impact of receding…

Read More

In the news: Nigerian stocks are world’s best with 12% rise

By | Research | No Comments

This Day Oil Marketers Canvass for Total Deregulation of Petroleum Downstream Sub-sector The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have called for the total deregulation of the downstream sub-sector of the country’s oil and gas industry. Vitafoam  Secures N2bn  Loan to Boost Working Capital Vitafoam Nigeria Plc has secured a four-year   N2billion soft loan from the Bank of Industry (BoI) at concessionary interest rate as part of the company’s strategic move to boost its working capital and sustain competitive edge. With 12% Rise in Fourteen Days Nigerian Stocks Are World’s Best…

Read More

In the news: Investors’ wealth appreciates further by N517 billion

By | Research | No Comments

Punch Licence renewal: BDCs seek extension of January deadline The Association of Bureaux De Change Operators of Nigeria, the umbrella body of over 3,500 BDC operators licensed by the Central Bank of Nigeria in the country, has called on the regulator to extend the January 31 deadline set for the renewal of operating licence of its members to March 31, 2018. NNPC seeks 1.46 million MT of petrol for January-April In a sign that the scarcity of petrol in Nigeria could be more widespread than first expected, the Nigerian National Petroleum Corporation has issued a spot tender seeking 1,480,000 metric…

Read More

ECONOMIC UPDATE: Constructive flows to EMs but headwind prospers

By | Research | No Comments

Recovery in EM growth spurs portfolio flows In contrast to a sharp decline in capital flows to emerging markets between 2015 and 2016, portfolio flows proved resilient in 2017. The Institute of International Finance (IIF), estimated portfolio inflows to EMs over 2017 at $243 billion (+40%% YoY)— the highest level since 2014— underpinned by broader global economic recovery, higher risk appetite and favourable global financial conditions. On the pull side, higher commodity prices and improving economic fundamentals which lessened default risk as well as a more stable currency market were key drivers for the strong portfolio flows. Importantly, despite rate…

Read More

In the news: Equities Market Begins 2018 on Bullish Note

By | Research | No Comments

Punch Nigerian banks stop ATM cash withdrawal abroad A number of Deposit Money Banks in the country have barred their customers from using debit and credit cards to withdraw dollars, euros, pounds and other foreign currencies whenever they travel abroad. Fuel scarcity: Senate invites PPPRA, Customs, NPA, others The Senate has extended its investigation into the lingering scarcity of Premium Motor Spirit (also known as petrol) to more Federal Government agencies and parastatals. 14 power plants shut, hydro generation improves Electricity generation from the nation’s hydropower plants has recorded significant improvement, offsetting the losses caused by last week’s pipeline fire…

Read More

In the news: SEC stops issuance of dividend paper warrants

By | Research | No Comments

Punch Nigeria’s monthly oil export to US rises by 56% The export of Nigerian crude oil to the United States rose by 56 per cent to 13.67 million barrels in October last year, the highest level since February 2013. SEC stops issuance of dividend paper warrants The Securities and Exchange Commission on Tuesday directed all registrars to stop the issuance of dividend paper warrants. FG rakes in N7.3bn from savings bond The Federal Government raised a total of N7.3bn from the FGN Savings Bond in 2017, the Debt Management Office data showed on Tuesday. Tin Can records 150% increase in…

Read More

In the news: Equities Market Opens Week Bearish

By | Research | No Comments

Punch Oando: Groups vow to resist attempt to frustrate audit Shareholder groups under the aegis of the Trusted Shareholders Association of Nigeria and the Oando Shareholders Solidarity Group have vowed to resist any attempt to frustrate the forensic audit of Oando Plc’s financials as ordered by the Securities and Exchange Commission. Foreign debt servicing gulped $197.29m in Q3 – DMO Nigeria spent a total of $197.29m to service foreign debts in the third quarter of this year, the Debt Management Office said on Wednesday. NEPZA licenses three new FTZs The Managing Director, Nigeria Export Processing Zones Authority, Mr. Emmanuel Jime,…

Read More