PROSHARE ECONOMY

President Buhari Signs Nigeria’s 2023 Budget into Law - President Muhammadu Buhari, GCFR has signed the 2023 Nigerian Budget into law, to set in motion the January to December cycle. Source Proshare Research Read More

Nigeria to Pay $4 Bln Extra In 2023 If Lawmakers Reject Loan-Bond Swap - President - Nigeria will pay 1.8 trillion naira ($4 billion) extra interest in 2023 if parliament rejects a loan-to-bond swap request on the central bank's overdrafts to the government, President Muhammadu Buhari said on Tuesday after signing the 2023 budget into law. Source Reuters Read More

We’re Reconsidering Buhari’s N22tn Loan Restructuring Request — Lawan - The Senate President, Ahmed Lawan, on Tuesday said the National Assembly is currently reconsidering the President’s proposal to securitise the Federal Government’s outstanding Ways and Means balance at the Central Bank of Nigeria. Source Punch Read More

PROSHARE MARKETS

Investors Gain N187.7bn as NGXASI Advances Further by 0.67%; Overnight Rate Contracts to 9.8%; BDC Declines to 742 - The NGX All-Share Index advanced by 0.67% to close at 51,595.66 basis points as against a 1.89% gain recorded previously to close at 51,251.06 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N187.7bn gain. YTD, the NGXASI Stands at +20.79%. Source Proshare Research Read More

PROSHARE BUSINESS

CEO Remuneration 2022: What Matters Most Post-COVID-19 - As global inflationary pressures and exchange rate movements force Chief Executive Officers (CEOs) to contemplate the next moves concerning human capital compensation, they must think fast and hard about the future. Source Proshare Research Read More

Oil Dives 4%, Trade Choppy on Worries About China, Global Economy - Oil prices tumbled 4% in volatile trade on Tuesday, pressured by weak demand data from China, a gloomy economic outlook, and a stronger U.S. dollar. Source Reuters Read More

Nigeria Needs Friendly Business Policies to Stimulate Economy – ACCI - The President of Abuja Chamber of Commerce and Industry (ACCI), Dr. Al-Mujtaba Abubakar, has called on governments at all levels to adopt friendly business policies this year. Source Daily Trust Read More

PROSHARE TECHNOLOGY

Modest Increase in Broadband Penetration in October 2022 - Our chart today, drawn from data from the Nigerian Communication Commissions (NCC), shows a modest increase in broadband internet subscriptions in October ‘22. Broadband internet connections in Nigeria have increased moderately since October ’21, excluding a slight decline in February ’22. Source DMO Read More

$3.7 Billion Was Lost to Crypto Scams and Hacks In 2022 - The Worst Year in The Market's History - Cryptocurrency markets lost $3.7 billion to scams, hacks and exploits in 2022 — the worst year for the industry and up from $3.2 billion in 2021, according to data from blockchain audit firm CertiK. Source Market Insider Read More

Telecoms Operators Activate 4.3m Lines, Seek Cost-Based Tariff - Telecommunications operators have activated and reactivated 4.3 million telephone lines as Nigeria’s teledensity leaped by 1.6 per cent in November 2022. Source Guardian Read More