News headlines – First Ideas Limited

News headlines

Investors Gain N217.19bn as NGXASI Inches Up Further by 0.99%, Maintains Positive Posture

Equities market closed on a positive note, as NGXASI appreciated by +0.99% to close at 42,435.16 basis points as against  +0.02% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +5.37%.         

Market breadth closed negative as MANSARD led 18 Gainers as against 11 Losers topped by CUTIX at the end of today’s session – an unimproved performance when compared with previous outlook.     

Market turnover closes positive as volume moved up  by +1.61% as against +51.46% uptick recorded in the previous session. FBNH, STERLNBANK, and GUARANTY  were the most active to boost market turnover.  FBNH and GUARANTY topped market value list.

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

Nigeria raises most startup capital but isn’t Africa’s prime investment destination

More than $4 billion of funding has been raised by start-ups in Africa through 754 deals and Nigeria ranks highest among the top four including South Africa, Egypt and Kenya, with $1.41 billion. Despite this feat, Nigeria has dropped from Africa’s top 10 investment destinations to 14 as Egypt remains the number one nation.

Coronavirus induced school closures cost students $17trn in lifetime earnings – World Bank

The COVID-19 pandemic-related school closures have been estimated to cost this generation of students $17 trillion in lifetime earnings, or about 14 percent of today’s global GDP, according to a new report by the World Bank, UNESCO, and UNICEF. The new projection far exceeds the $10 trillion estimated in 2020.

Nigerian govt speaks on expired 1m doses of COVID-19 vaccines

The federal Government on Tuesday said vaccines donated to Nigeria have short and expiring shelf life and consequently expire before usage, in addition to other logistics bottlenecks in the country. Up to one million COVID-19 vaccines are estimated to have expired in Nigeria in November without being used

Access Bank supports women entrepreneurs with $22,000 grant

Access Bank Plc in collaboration with International Finance Corporation (IFC) on Tuesday gave the sum of $22,000 grant to five women entrepreneurs who won in the “Womenpreneur Pitch-A-Ton Africa” initiative and awarded certificates to 100 graduates.

 

9M’21: Ecobank’s profit hits highest in eight yrs, on higher net investment income

Ecobank Transnational Incorporated (ETI) has posted its highest profit in eight years in the first nine months of 2021 as the company recorded higher net investment income

MTN excites Sokoto with 14% offer of its shareholding

Africa’s telecom giant, MTN which earlier announced the sell-down of 575 million shares in MTN Nigeria to shore up local content in its shareholding, says that the public offer is to make the company truly Nigerian and urged every Nigerian to take advantage

 

 

Nigeria’s Trade Deficit Widens in Q3 2021 as Oil accounts for 90% of Exports


If Nigeria is to grow to support a population of 200m people it must do better than its recent external trade numbers. Data released by the national bureau (NBS) showed that in the third quarter of 2021 (Q3), merchandise trade rose by 51% Y-o-Y to N35.07trn. The country’s trade deficit widened by 90% Y-o-Y from (N4.64trn) in 9M 2020 to 8.84tr in 2021. The worsening trade balance was driven by a 60% increase in imports while exports rose 41%

IFC, Others Back Nigeria Transport Firm with $110m

 A subsidiary of the World Bank Group, the International Finance Corporation, and seven other venture capital firms have provided about $110m financing to Nigeria and United States based firm focusing on Nigeria’s retail supply chain. 

Omicron: NCAA Lists New Boarding Rules, Airlines Risk Ban

 The Nigeria Civil Aviation Authority says international airlines will be made to pay $3500 fine on each passenger flown into the country not complying with the Federal Government’s Revised COVID-19 Provisional Quarantine protocol. 

Nigeria’s Most Viable Option for Net-Zero Emissions is LPG, Says Osinbajo

Vice-President Yemi Osinbajo says the use of liquefied petroleum gas (LPG) as a transition fuel is the viable option for Nigeria to address climate change and energy poverty.  

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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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