Industry & Money View all
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, […]
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% […]
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 […]
The Monetary Policy Committee (MPC) will hold its second set of meetings of the year on the 22nd and 23rd of March 2021. We expect the Committee to review the domestic and external macroeconomic conditions and financial markets developments since its last meeting in January and provide forward guidance on how it intends to balance […]
Price appreciation in BUACEMENT (+5.1%), STANBIC (+10.0%) and INTBREW (+5.9%) buoyed performance in the market today. Consequently, the benchmark index rose 89bps to 38,722.87 points, YTD loss improved to -3.8% and market capitalisation increased ₦178.1bn to ₦20.3tn. Trading activity declined as volume and value fell 4.6% and 24.0% respectively to 277.2m units and ₦3.1bn. The […]
According to the Chinese National Bureau of Statistics (NBS), China’s Manufacturing PMI slowed to 50.6 points in February (January: 51.3 points). Although the February print remains above the 50-point threshold, we highlight that this represents the slowest rise since May 2020 and the third consecutive month of moderation in the index. We believe the moderation […]
Business News View all
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 […]
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 […]
The Monetary Policy Committee (MPC) will hold its second set of meetings of the year on the 22nd and 23rd of March 2021. We expect the Committee to review the domestic and external macroeconomic conditions and financial markets developments since its last meeting in January and provide forward guidance on how it intends to balance […]
Q4:2020 Labour Market Statistics: Youth Unemployment at an All-time High The Nigerian Bureau of Statistics (NBS) released the labour statistics for Q4:2020 and we summarise the highlights. Interestingly, the NBS was able to conduct the survey through face-to-face interviews following the lifting of restrictions imposed by the pandemic compared with the Computer Assisted Telephone Interview […]
Price appreciation in BUACEMENT (+5.1%), STANBIC (+10.0%) and INTBREW (+5.9%) buoyed performance in the market today. Consequently, the benchmark index rose 89bps to 38,722.87 points, YTD loss improved to -3.8% and market capitalisation increased ₦178.1bn to ₦20.3tn. Trading activity declined as volume and value fell 4.6% and 24.0% respectively to 277.2m units and ₦3.1bn. The […]
Opinions View all
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 […]
Pre-MPC: A Hold Decision in View
The Monetary Policy Committee (MPC) will hold its second set of meetings of the year on the 22nd and 23rd of March 2021. We expect the Committee to review the domestic and external macroeconomic conditions and financial markets developments since its last meeting in January and provide forward guidance on how it intends to balance […]
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