Investors Lose N28.05bn WoW as NGXASI Dips by -0.12% to Close the Week Negative
The NGX ASI closed the week in red by 0.12% as it closed negative in 4 of the 5 trading sessions during the week as a result of sell pressures in bellwether stocks such as TOTAL (-9.97%) and NGXGROUP (-11.88%).... Read More →
Nigeria inflation falls lower to 15.99% in October 2021, compared to previous months.
The Consumer Price Index (CPI), which measures inflation according to the Nigerian Bureau of Statistics rose by 15.99% Year-on-Year (YoY) in Oct’21. This is 0.64% lower than the rate recorded in Sept’21 (16.63%). The headline inflation rate eased for a... Read More →
Investors Gain N646.34bn WoW as NGX ASI Inches up by 2.95% to Close the Week Positive
Local Economic Updates Last week, the Federal Ministry of Agriculture and Rural Development disclosed the unfavourable balance of Wheat importation into Nigeria as the value of Wheat importation exceeds local production by about 1042%. On the back of the above,... Read More →
Currency Devaluation Vs Depreciation: The Big Difference
Devaluation and depreciation are two different economic and financial terms that are wrongly used interchangeably. A clear-cut understanding of the difference between both terms would provide a better guide on their usage. Devaluation occurs when a country makes a conscious... Read More →
The NGX ASI closed the week negative with a 0.06% decline, market capitalization also decreased by 0.05% to close at N21.93 trillion.
Local Economic Updates Last week, Airtel Africa and MTN received approval in principle to operate mobile money services (Smartcash and Momo Payment Service Bank Ltd respectively) in Nigeria, marking the first step towards obtaining final licenses from the nation’s Central... Read More →
9M’21 EARNINGS UPDATE: United Bank for Africa (UBA)
Interest segment sustains resilience. The remarkable performance in UBA’s topline was sustained in the 9M’21 reporting period, as the bank was able to simultaneously increase the Interest income in addition to the Gross Earnings while moderating the interest expense. Interest... Read More →
WEEKLY MARKET UPDATE
Local Economic Updates Last week, the Petroleum Products Marketing Company (PPMC) estimated that the annual subsidy on Premium Motor Spirit (PMS) could soar as high as N2.9 trillion by the end of the year thus making it increasingly obvious that the... Read More →