Headlines – First Ideas Limited


Investors Lose N29.46bn WoW as NGXASI Dips by -0.13% to Close the Week Negative

Equities market closed on a positive note, as NGXASI appreciated by +0.08% to close at 47,140.48 basis points as against -0.01% depreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +10.36%.    

Market breadth closed positive as LEARNAFRCA led 27 Gainers as against 15 Losers topped by PHARMDEKO at the end of today’s session an improved performance when compared with previous outlook.         

Market turnover closed positive as volume moved up by +18.71% as against +12.41%  uptick recorded in the previous session. JBERGERACCESS and UBCAP were the most active to boost market turnover.  JBERGER and NB topped market value list.

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

Nigeria’s shrinking economy records highest ‘growth’ under Buhari

Nigeria’s economy may have grown by the most since 2015 when President Muhammadu Buhari was first voted into office, but the size of the economy has shrunk since then and Nigerians are worse off.

Trade sector records positive growth first time in 6yrs

For the first time in six years, activity in Nigeria’s wholesale and retail trade sector grew in 2021, according to data by the National Bureau of Statistics (NBS). According to the GDP report released Thursday by the NBS, the trade sector grew 8.62 percent.

Nigeria’s 2021 GDP growth beats estimates

Nigeria’s economy has recorded the highest GDP since 2014, beating analysts’ expectations as well as projections from the International Monetary Fund (IMF) and the World Bank. The economy grew by 3.4 percent in full-year 2021 compared to a contraction of 1.94 percent

MTN Group expects full year profit surging 35% as mobile giant unlocks significant value

Africa’s largest mobile operator MTN expects its headline profit in the year to end-December to rise by up to 35%, from a year-earlier period. Led by CEO Ralph Mupita, MTN has unlocked significant value for its shareholders in its journey to slim down its sprawling portfolio to pay down debt and reduce potential risks.

Lower oil production drags Nigeria’s oil GDP to 8.30% in 2021

The latest data from the National Bureau of Statistics (NBS) has exposed the fragile state of Nigeria’s oil sector as the country’s oil GDP fell by 8.30 percent in 2021 compared to 8.89 percent in 2020, In Q4 2021, the oil sector contracted in real terms by 8.06 percent (year-on-year) indicating an increase by 11.71.

FG can’t recover N10bn tradermoni, but to begin 2nd tranche disbursement – Farouq

The Federal Government on Thursday announced that it is ready to begin another round of Tradermoni disbursement, despite its inability to recover the N10 billion disbursed under the first phase, three years after

Nigeria makes list of 6 countries to get technology to produce Covid-19 vaccines

Nigeria has been listed among the first six countries in Africa that will receive the technology needed to produce mRNA-based vaccines such as those from Pfizer and Moderna. The World Health Organisation (WHO) announced Egypt, Kenya, Nigeria, Senegal, South Africa and Tunisia as successful applicants 

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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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