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Investors Lose N80.44bn as NSEASI Dips by -0.38% to Open the Week Negative

Equities market closed today on a negative note, as NSEASI depreciated by -0.38% to close at 40,714.00 basis points as against +0.10% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.10%.   

Market breadth closed negative as NEM led 16 Gainers as against 17 Losers topped by SOVRENINS at the end of today’s session – an unimproved performance when compared with previous outlook.     

Market turnover closes negative as volume moved down by -42.21% as against -59.24% downtick recorded in the previous session. FBNH, ETI and CHAMS were the most active to boost market turnover.  BUACEMENT and GUARANTY topped market value list.     

NPFMCRFBK leads the list of active stocks that recorded impressive volume spike at the end of today’s session.     

The truth behind Nigeria’s unproductive debt binge

To uncover the truth behind Nigeria’s unproductive debt binge, BusinessDay tracked what the government spent money on since the beginning of 2016, using data obtained from the budget implementation report available on the website of the Budget Office

Enhancing manufacturing processes seen helping Nigeria achieve SDGs

Successful attainment of the United Nation’s Sustainable Development Goals (SDGs) in Nigeria will require effective and efficient performance of the manufacturing sector driven by the accelerated adoption of industrialization in the country.

 

 

NBS says Nigeria’s Northeast has most certified IT professionals, experts disagree

Some tech experts have questioned data from the National Bureau of Statistics (NBS) showing the insurgency-infested North-East of Nigeria has the most certified information technology (IT) professionals in the country.

Abia concludes plans to host “Aba Fashion Week” 2021

No less than two hundred fashion designers and models are expected to converge on Aba, the commercial hub of Abia State in December 2021, to participate in this year’s “Aba Fashion Week, second in the serie

Oil climbs near $84 a barrel on tightening global gas market

Oil surged close to $84 a barrel Monday as the global power crunch rattled a market in which OPEC+ has only been restoring output at a modest pace.

What FG’s N1.45trn budget for infrastructure means for real estate, economy

The federal government’s N1.45 trillion allocation to infrastructure in the 2022 budget estimates which President Muhammadu Buhari presented to the National Assembly last week Thursday means much for Nigeria’s roads, real estate sector, and the economy, experts have said.

FG Allocates N5.9tn to Education, Health, Defence, Infrastructure

The Federal Government has allocated the sum of N5.93tn to critical sectors of the economy including defence, health, education and infrastructure.

Debt Servicing Cost Rises to N2.9tn, Gulps 74% of Revenue – FG

The Federal Government has said that it spent N2.89tn on debt servicing between January and August. The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this during the public presentation and breakdown of the highlights of the 2022 appropriation bill held in Abuja on Friday.  

NUPENG Suspends Planned Strike to ‘Allow Government Address Grievances’

The National Union of Petroleum and Natural Gas Workers (NUPENG) has suspended its planned strike. Tayo Aboyeji, the south-west zonal chairman of NUPENG, disclosed this on Sunday in an interview with NAN.  

FG to Sanction MDAs That Fail Revenue Targets

The Federal Government, through the Minister of Finance, Budget and National Planning, Zainab Ahmed, has affirmed that it is working on a plan to sanction ministries, departments and agencies if they fail to meet their revenue targets.

About the Author

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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