• Investors Gain N64.93bn as NSEASI Inches Up by 0.32% Amid Improved Market Turnover
Equities market closed today on a positive note, as NSEASI appreciated by +0.32% to close at 39,670.29 basis points as against -0.01% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -1.49%.
Market breadth closed positive as NAHCO led 23 Gainers as against 14 Losers topped by NB at the end of today’s session – an improved performance when compared with previous outlook.
Market turnover closes positive as volume moved up by +52.82% as against +19.23% uptick recorded in the previous session. COURTVILLE, ETI and TRANSCORP were the most active to boost market turnover. MTNN and ZENITHBANK topped market value list.
ETI leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Nigeria ratifies International Coffee Agreement, 2007
The Federal government on Thursday said it has ratified the International Coffee Agreements, 2007 which Nigeria entered into. A statement by Garba Shehu, presidential spokesman, noted that President Muhammadu Buhari had on Tuesday, August 17, 2021, confirmed and ratified the International Coffee..
Oil falls to lowest since May on economy slowdown
Oil prices fell Thursday to their lowest level in about three months after the U.S. dollar strengthened on concern that the global economic recovery might slow down and the Federal Reserve’s signals that it will scale back stimulus measures.
Nigeria’s fiscal deficit hits highest in 21yrs as revenues flop
The Federal Government of Nigeria spent N6.17 trillion more than it earned in 2020, leaving its fiscal deficit at 4 percent of Gross Domestic Product (GDP), the highest in 21 years, according to Central Bank of Nigeria (CBN) data
Higher Volume, pricing and baseline effect help leading firms record massive growth
Published second quarter results of Nigeria’s leading companies show strong growth as they put behind them the devastating effect of the COVID pandemi
Nigeria loses $28m annually to flawed aviation handling rates – Experts
Experts have estimated that the federal government and the ground handling companies in Nigeria’s aviation industry may be losing an estimated $28.35 million annually to inappropriate handling rates in the country as appropriate handling rates should earn them abou
Lagos power market holds gains for Nigeria if FG allows
If Lagos State were a country, it would be Africa’s fifth largest economy. Even with the smallest landmass, Lagos contributes at least 70 percent of taxable income to the Federal purse and its own power market could double this contribution if only the Federal Government
Unending troubles in Nigeria’s health sector
These are not the best of times in the Nigerian health sector and they are only reflections of events of the recent past. Doctors under the aegis of National Association of Resident Doctors (NARD) have remained unyielding to all entreaties, cajoling and even threats fo
Nigeria records 1,149 COVID-19 cases, highest in 2021
Nigeria on Wednesday recorded 1,149 new cases of coronavirus (COVID-19), the highest single-day infections rate since February 2020. The new infections are an increase from the 357 cases reported on Tuesday. The Nigeria Centre for Disease Control(NCDC) disclosed this on its official Facebook website on Thursday..
Average Prices of PMS, AGO, HHK and Cooking Gas – July 2021
Average price paid by consumers for premium motor spirit (petrol) increased by 15.51% year-on-year and decreased month-on-month by 0.18% to N165.91 in July 2021 from N165.61 in June 2021.
States with the highest average price of premium motor spirit (petrol) were Adamawa (N173.67), Kwara (N170.40) and Plateau (N170.40).
States with the lowest average price of premium motor spirit (petrol) were Taraba (N162.25), Gombe (N163.17) and Niger (N163.71).
Average price paid by consumers for Automotive Gas Oil (diesel) increased by 3.46% month-on-month and by 11.76% year-on-year to N250.82 in July 2021 from N242.43 in June 2021.
States with the highest average price of diesel were Borno (N264.18), Adamawa (N261.00) and Abia (N260.00).
States with the lowest average price of diesel were Plateau (N230.00), Anambra (N233.67) and Kogi (N234.17).
Average price per litre paid by consumers for National Household Kerosene increased by 7.31% month-on-month and by 18.42% year-on-year to N370.34 in July 2021 from N370.29 in June 2021.
States with the highest average price per litre of kerosene were Ebonyi (N520.83), Taraba (N491.67) and Jigawa (N457.41).
States with the lowest average price per litre of kerosene were Bayelsa (N241.67), Adamawa (N316.67) and Niger (N338.64).
Similarly, average price per gallon paid by consumers for National Household Kerosene increased by 3.78% month-on-month and by 7.88% year-on-year to N1,302.56 in July 2021 from N1,255.15 in June 2021.
States with the highest average price per gallon of kerosene were Ekiti (N1,591.67), Plateau (N1,556.25) and Abuja (N1,480.00).
States with the lowest average price per gallon of kerosene were Yobe (N1,080.00), Rivers (N1,081.58) and Bayelsa (N1,088.46).
Average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 3.52% month-on-month and by 8.64% year-on-year to N2,141.59 in July 2021 from N2,068.69 in June 2021.
States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Akwa Ibom (N2,600.00), Benue (N2,540.00) and Bauchi (N2,486.86).
States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Abuja (N1,806.15), Lagos (N1,840.80) and Ondo (N1,842.94).
Similarly, average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 3.11% month-on-month and by 7.16% year-on-year to N4,422.32 in July 2021 from N4,289.05 in June 2021.
States with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Abuja (N5,050.00), Gombe (N5,000.00) and Kogi (N4,985.00).
States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kaduna (N3,718.09), Zamfara (N3,725.38) and Oyo (N3,859.97).
Inflation Rate Drops to 17.38% in July 2021, Beating Early Analysts Forecasts
The average prices Nigerians pay for regular commodities rose by 17.38% Y-o-Y in July 2021 this was according to a recent release of NBS data. Annualized inflation fell for the fourth straight month on the back of a near-persistent high base effect.
President Buhari Appoints Timipre Sylva as Chairman of Steering Committee on Petroleum Industry Act
President Muhammadu Buhari has commenced implementation of the newly signed Petroleum Industry Act (PIA) by approving a steering committee to oversee the process. The steering committee is headed by the Honourable Minister of State, Petroleum Resources, Timipre Sylva.
FG Owes CBN N15.51tn, Borrows N14.86tn Under Buhari
The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances has ballooned to N15.51tn, rising by 2,286 per cent in six years, data collated from the CBN have shown.
Auditor General: 2019 Audit Report Contains N4.973trn Unsubstantiated Balances
The Auditor General of the Federation (AuGF), Adolphus Aghughu, has painted a bad picture of the audited accounts of federal Ministries, Departments and Agencies (MDAs) in 2019 saying unsubstantiated balances totaling N4.973trillion were observed by his office in the audit carried out on the consolidated financial statement for the fiscal year.