Investors Lose N45.47bn as NGXASI Dips by -0.21% Amid Negative Market Breadth
Equities market closed on a negative note, as NGXASI depreciated by -0.21% to close at 42,270.23 basis points as against +0.09% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +4.97%.
Market breadth closed negative as ROYALEX led 15 Gainers as against 19 Losers topped by LIVESTOCK at the end of today’s session – an unimproved performance when compared with previous outlook.
Market turnover closes positive as volume moved up by +10.28% as against -16.26% downtick recorded in the previous session. FBNH, ACCESS and ETI were the most active to boost market turnover. FBNH and MTNN topped market value list.
BUACEMENT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Policies deter FG’s call for gas investments
The Nigerian government says it is keen on forming collaborative partnerships with the private sector in a bid to grow the economy using gas, showing a new oil law as evidence of its intention, but operators say more is required.
Pension fund managers keep faith with private equity
Desire for diversification of asset classes and performance will continue to drive pension fund managers’ investment in private equities (PEs) over the next five years, a report shows.
How FG’s gas pricing policy disrupts market, leaves consumers energy-poor
Nigeria has Africa’s biggest gas reserves and though 75 percent of its electricity is generated from gas-fired thermal plants, over 80 million people lack access to electricity.
Address factors responsible for declining foreign investments
As much as Nigeria presents a huge opportunity for decent returns in virtually every sector, a number of risk factors have escalated in recent times. These factors include insecurity, foreign exchange risks and policy uncertainties.
Nigeria, 73 other countries to benefit from $93bn IDA package – World Bank
Nigeria is among the 74 countries that would benefit from a $93 billion replenishment package of the World Bank’s International Development Association (IDA) for low-income countries (LIC)
Airtel Africa’s mobile money attracts $50m from Abu Dhabi-based Chimera
Airtel Africa, one of the continent’s leading providers of telecommunications and mobile money services, has announced the introduction of Chimera Investment LLC as an additional investor in Airtel Mobile Commerce BV (‘AMC BV’), through a $50m secondary purchase of shares of AMC BV.
NCC says unaware of Bola Tinubu’s connection to Mafab Communications
The Nigerian Communications Commission (NCC) has denied awareness of any link between Senator Bola Ahmed Tinubu, former Governor of Lagos State, and Mafab Communications Limited, one of the winners of the 5G spectrum
VAS – Examining its Regulatory Framework and its Impact on the Telecommunications
The recent growth of the telecommunications industry has witnessed a reposition from the provision of standard and conventional services such as voice calls and text messages to a variety of services collectively known as Value Added Services (“VAS”).
The Recent Trend of Moderation in Inflation is Expected to Persist
Inflation sustained its path of moderation in October 2021. The headline index grew by 15.99% YoY in October 2021, 0.64% lower than 16.63% recorded in September 2021. Likewise, the food and core inflation metrics respectively inched up by 18.34% and 13.24% YoY in October 2021.
Senate Approves Buhari’s $5.8bn 2018-2020 External Borrowing Request
The Senate on Wednesday approved the sum of $5.8 billion and a grant component of $10 million under the 2018-2020 External Borrowing (Rolling) plan.
Headline Inflation Increases by 15.40% YoY in November 2021 as Food Inflation Rises by 17.21%
The consumer price index, (CPI) which measures inflation increased by 15.40 percent (year-on-year) in November 2021. This is 0.51 percent points higher than the rate recorded in November 2020 (14.89) percent. Increases were recorded in all COICOP divisions that yielded the Headline index.