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Banking and Finance
Q1:2021 Foreign Trade Statistics Report: Nigeria’s Woes Deepen on Lower-than-Expected Crude Oil Earnings
12/06/2021
Banking and Finance
Economic and Market Report – Week-ended June 11, 2021
12/06/2021
Banking and Finance
Bullish Run Sustained as Investors Hunt for Bargains
12/06/2021
Industry & Money View all
Fresh data emerged this week on the worrisome state of Nigeria’s merchandise trade position with the rest of the world. According to the National Bureau of Statistics (NBS), Nigeria recorded a Goods trade deficit of ₦3.9tn in Q1:2021 (2.6% of GDP), the highest in more than twelve successive quarters. This was jointly driven by a […]
Global economy According to the latest data released by the Chinese National Bureau of Statistics (NBS), headline inflation rose by 40bps to 1.3% y/y in May (April: 0.9% y/y) – the highest since September 2020 (1.7% y/y). We highlight that the increase in the headline index was due to a faster price increase in the […]
This week, the bullish trend in the domestic equities market was extended as the NSE All-Share Index rose 1.1% w/w to settle at 39,156.28 points while YTD loss moderated to -2.8%. The positive performance was driven by bargain hunting in notable bellwether stocks – DANGCEM, WAPCO, STANBIC and SEPLAT. As a result, market capitalisation rose […]
Last week, Nigeria’s Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, announced during a policy dialogue initiative organized by the Independent Corrupt Practices and other Related Offences Commission (ICPC) that the federal government will soon begin to merge or shut Ministries, Department and Agencies (MDAs) with similar roles to eliminate induced wasteful expenses […]
Price appreciation in ZENITH (+3.6%), GUARANTY (+2.6%) and WAPCO (+2.2%) buoyed market performance as the All-Share index rose 29bps to close at 39,312.74 points. Consequently, YTD loss improved to -2.4% while market capitalisation rose ₦59.4bn to ₦20.5tn. Trading activity improved as volume and value traded rose 35.7% and 11.1% to 324.2m units and ₦3.3bn respectively. […]
Global economy In line with our expectation of improved factory activity as workers return from the Lunar New Year holiday, China’s manufacturing PMI rose to the highest in four months. According to the National Bureau of Statistics, the manufacturing PMI notched up by 1.3 points to 51.9 points in March (February: 50.6 points). For us, […]
Business News View all
Fresh data emerged this week on the worrisome state of Nigeria’s merchandise trade position with the rest of the world. According to the National Bureau of Statistics (NBS), Nigeria recorded a Goods trade deficit of ₦3.9tn in Q1:2021 (2.6% of GDP), the highest in more than twelve successive quarters. This was jointly driven by a […]
Global economy According to the latest data released by the Chinese National Bureau of Statistics (NBS), headline inflation rose by 40bps to 1.3% y/y in May (April: 0.9% y/y) – the highest since September 2020 (1.7% y/y). We highlight that the increase in the headline index was due to a faster price increase in the […]
This week, the bullish trend in the domestic equities market was extended as the NSE All-Share Index rose 1.1% w/w to settle at 39,156.28 points while YTD loss moderated to -2.8%. The positive performance was driven by bargain hunting in notable bellwether stocks – DANGCEM, WAPCO, STANBIC and SEPLAT. As a result, market capitalisation rose […]
Price appreciation in ZENITH (+3.6%), GUARANTY (+2.6%) and WAPCO (+2.2%) buoyed market performance as the All-Share index rose 29bps to close at 39,312.74 points. Consequently, YTD loss improved to -2.4% while market capitalisation rose ₦59.4bn to ₦20.5tn. Trading activity improved as volume and value traded rose 35.7% and 11.1% to 324.2m units and ₦3.3bn respectively. […]
Global economy In line with our expectation of improved factory activity as workers return from the Lunar New Year holiday, China’s manufacturing PMI rose to the highest in four months. According to the National Bureau of Statistics, the manufacturing PMI notched up by 1.3 points to 51.9 points in March (February: 50.6 points). For us, […]
Global foreign investment plummeted to historic lows in 2020 as Covid-19 forced investors to push the brakes on expansion plans. Foreign investment projects worth an estimated $486.9bn were announced by global companies in 2020, which is $310.8bn (40%) less than in 2019, according to full-year data from investment monitor fDi Markets. This means that the […]
Opinions View all
Reducing the Cost of Governance: Is the FG Ready to Right the Wrongs?
Last week, Nigeria’s Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, announced during a policy dialogue initiative organized by the Independent Corrupt Practices and other Related Offences Commission (ICPC) that the federal government will soon begin to merge or shut Ministries, Department and Agencies (MDAs) with similar roles to eliminate induced wasteful expenses […]
Debt Report: Pandemic-induced Fiscal Deficit and Currency Devaluation Fuels Higher Debt Burden
The Q4:2020 debt report as recently published by the Debt Management Office (DMO) and the Nigerian Bureau of Statistics (NBS) reveals a 20.1% rise in Nigeria’s public debt stock to ₦32.9tn and a 23.4% increase in FG’s debt burden to ₦26.9tn as at 2020 year-end. The current debt amount implies a Debt-to-GDP ratio of 21.6% […]
Nigerian Economy and Financial Markets: A Blurry Path to Recovery
In our 2020 Outlook report, titled Nigeria in the New Decade: Nothing Ventured; Nothing Gained, we had reviewed the performance of the Nigerian economy over the last decade and highlighted critical imperatives necessary to restore the nation on the path of prosperity in the new decade. We noted that while economic performance in the last […]
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