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Headline Inflation Increases to 16.82% YoY in April 2022 as Food Inflation Rises by 18.37%

In April 2022, the consumer price index, (CPI) which measures inflation increased to 16.82 percent on a year-on-year basis. This is 1.3 percent points lower compared to the rate recorded in April 2021 (18.12) percent. Source NBS Read More

Govt Okays N375b Export Grant

The federal government has approved disbursement of N375 billion as Export Expansion Grant (EEG) for Nigerian exporters. Source The Nation Read More

Lagos Free Zone, Partners Sign N10bn Gas Deal

The Lagos Free Zone has signed a gas contract worth over N10bn with Falcon Corporation, ND Western, and FHN consortium. The gas infrastructure development agreement was signed in Lagos on Monday. Source Punch Read More

Airline Operators Announce Flight Disruption Over Scarcity of Aviation Fuel

Nigerian airlines, under the aegis of Airline Operators of Nigeria (AON), say there will be disruption of scheduled flight operations over the growing scarcity of aviation fuel popular as Jet-Al. Source TheCable Read More

Nigeria’s Rigs Count Remains Stunted as Oil Sector Investments Wane

With investment waning and oil production declining, Nigeria’s overall oilrigs count, which generally mirrors the measure of activities in the upstream sector, has continued to stagnate, a THISDAY analysis has shown. Source THISDAYLIVE Read More

Ukraine: FG Warns MDAs of Rising Cyberattacks

The National Information Technology Development Agency’s Computer Emergency Readiness and Response Team has warned ministries, departments, and agencies of rising cyber-attacks in light of Russia’s invasion of Ukraine. Source Punch Read More

Nigeria among 44 countries meeting in El Salvador to discuss Bitcoin

Nayib Bukele, president of El Salvador, has announced a meeting of 44 countries to discuss Bitcoin and several topics. The meeting will take place in El Salvador today. Source TheCable Read More

Surging wheat prices evoke ditched cassava policy

The Nigerian government is expected to be under pressure to dust off its cassava flour policy as India, the second-largest producer of wheat, has banned the export of the grain, sending global prices to new peaks.

Airlines face fresh fuel crisis as NNPC supply dries up

One week after the Nigerian National Petroleum Company Limited (NNPC) intervened to resolve the aviation fuel crisis in the country, investigation shows that the supply from the NNPC has been used up and airlines are now grappling with price hikes amid scarcity.

Bread price rises 35% in one year

The price of sliced 500g bread rose to N447.80 in March this year from N331.76 in March 2021, according to data obtained from the National Bureau of Statistics (NBS). The NBS report also showed that the price of unsliced 500g bread increased to N411.73 in March 2022 from N310.73 in March 2021.

Unions accuse Aero, leasing firm of ‘conniving’ to run down the airline

The National Union of Air Transport Employees (NUATE) and Air Transport Senior Staff Services Association of Nigeria (ATSSSAN) have accused the current management of Aero Contractor under the receivership of Asset Management Corporation of Nigeria, (AMCON) of working together to run down the airline

Investors Lose N101.07bn as NGXASI Dips by -0.35%; Debt Market Size Declines by 0.04%; BDC Rate Depreciates to N599

 Equities 

NGX

Nigerian Equities Market maintained negative sentiment at the end of today’s trading session. 

The NGX All-Share index dipped by -0.35% to close at 52,756.62 basis points as against the -0.29% loss recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N101.07bn loss

YTD, the NGXASI Stands at +23.50%

The total volume traded advanced by +253.76% to close at 1.32bn, valued at N7.72bn and traded in 6,449 deals. FCMB was the most traded stock by volume with 775.09 million units traded, while FCMB was the most traded stock by value which is put at N2.96 billion.

Sectoral performance was broadly positive as three (3) NGX sector indices closed northward, thirteen (13) closed southward while two (2) closed flat. The NGX Growth Index topped with +0.55% gain as against NGX MERIVAL Index which dipped by -1.30%

Gote index closed red with -0.07% loss recorded to close at 156.08 basis points while Toni index also closed red with -0.06% loss recorded to close at 117.38 basis points.

At the close of trading, market recorded 20 gainers to 26 losers and 62 unchanged. PZ topped the list of gainers as FLOURMILL topped the list of losers.

Volume and Value Contribution

FCMB led the volume chart with 58.55% contribution and closely followed by JAIZBANK and TRANSCORP.  

FCMB led the value chart with 38.31% contribution and closely followed by GTCO and MTNN.  

NGX Earnings Summary

No Financial statement was released on the NGX today. 

NGX Corporate News

United Capital Plc has notified of the resignation of Ms Tokunbo Ajayi as a Non-executive Director of the financial services company.

Pharma Deko Plc has notified it will hold its AGM on June 02, 2022 at Palm Grove House No 1 Shagamu Avenue Ilupeju, Lagos at 12noon.

NASD OTC Exchange

The NASD market index dipped by -0.03% to close at 807.33 basis points as against the -0.02% loss recorded previously. 

The total volume traded advanced by +138.64% to close at 145,884 units valued at N1.32mln and traded in 11 deals. 

At the close of trading, NASD OTC market recorded 0 gainer (s) to 1 loser(s) 

Volume and Value Contribution

SDCBANCO led the volume chart with 78.83% contribution  

SDCSCSPLC led the value chart with 34.03% contribution  

NASD Earnings Summary

Air Liquide Nigeria Plc released its Q4 2021 Financial statement on NASD OTC Exchange today. 

NASD Corporate News

No Corporate News was released on the NASD OTC Exchange today. 

Global Indices

On the global scene, the Hong Kong Index leads the top five gainers with 3.27% gain while the Nigerian All Share Index tops the top five losers with -0.35% loss as of 4pm Nigerian Time

African Indices

Similarly on the African scene, the Namibia Index tops the top five gainers with 2.05% gain while the Tunisian Index tops the top five losers with -0.21% loss as of 4pm Nigerian Time 

Bonds and Fixed Income Markets 

Debt Market Size

The FMDQ Debt Market Size declined by 0.04% to close at N27.30trn from N27.31trn.

Overnight and Open Repo (OPR)

The overnight lending rate advanced by 3.25% to 11.50% while the Open Repo (OPR) rate also moved up by 3.42% to close at 11.25% 

Commodities Market

AFEX Index

Trading on the AFEX Commodities Exchange closed positive at the end of today’s session. The ACI moved up by +0.63% to close at 473.32 basis points as against previous figure of 470.35 while the AEI closed flat at 204.07 basis points 

AFEX Commodity Prices

Sorghum moved up by 9.84% to close at N247.18 while Maize dropped by 12.39% to close at N205.00 

Global Commodity Prices

Gold recorded 0.32% loss while Silver advanced by 0.69% as of 12:32 NY time 

The two energy commodities, Brent and WTI both declined by 0.37% and 0.52% respectively as of 11:31AM Central Daylight Time (CDT) 

Currency/ FX Market

The naira appreciated at the I&E FX Window by 0.71% to close atN418.50/USD while the NAFEX rate depreciated by 0.09% to close at N416.61.

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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