PROSHARE ECONOMY

Roadmap 2023: Top Economic Priorities for the Next Government - As the ruling party, the All-Progressives Congress, APC and other political parties round up their 2022 Presidential primaries this week, the task ahead for the next government comes to the fore. Source Ottoabasi Abasiekong Read More

Crude Oil Exports Jump by 194%, hit N5.6tn in Three Months - Amid increasing calls for diversification of the economy, Nigeria’s crude oil exports jumped to N5.6trn in the first quarter of 2022, reflecting nearly 200 per cent increase when compared to the same period in 2021. Source Punch Read More

Subsidy Hits 45% Of Fuel Import Bill in Q1 – NBS Report - The National Bureau of Statistics has disclosed that Nigeria spent N1.51tn on the imports of premium motor spirit, also known as petrol, in the first quarter of 2022. Source Punch Read More

PROSHARE MARKETS

Investors Gain N96.08bn as NGXASI Inches up by +0.34%; Overnight Rate Expands by 0.08% to 7.08%; IEFX Rate Depreciates to N420.25 - The NGX All-Share index inched up by +0.34% to close at 53,086.46 basis points as against +0.18% gain recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N96.08bn gain. YTD, the NGXASI Stands at +24.28%. Source Proshare Research Read More

Purple Posts Impressive Results for FY 2021, Pays Dividend - Purple Real Estate Income Limited (PREIL) has released its audited results for the financial year ended 31 December 2021. Analysis of the results showed PREIL’s total operating income stood at N2billion as at December 31, 2021, having increased by 112 per cent over the position in the corresponding period of 2020. This was attributed to expansion of asset base including sales of properties. Source Purple Real Estate Income Limited Read More

Hoarding Activities of Farmers Increase Commodities Prices – AFEX Commodities Weekly Report 030622 - Prices of commodities on the Exchange remained stable W-O-W except for maize which gained by 1.87% while in the open market W-o-W, cashew, cocoa, and maize fell by 2.73%, 2.35%, and 0.95% respectively. However, the international prices of most commodities gained W-o-W. Source AFEX Read More

PROSHARE BUSINESS

‘Free Trade Zones Contributes N29bn Tax In 2 Years’ - The Nigeria Economic Zones Association (NEZA) has said the special economic zones in the country are not used for tax evasion but a source of gaining more revenue through custom duties and VAT than Corporate Income Tax. Source Daily Trust Read More

NCAA gives Nigeria Air its Transport License - The interim management of Nigeria Air, the proposed national carrier, received its Air Transport Licence (ATL) from the Nigerian Civil Aviation Authority (NCAA) in Abuja today (Monday). Source Sun News Online Read More

Federal Mortgage Bank Recapitalisation Plan Gets BPE’s Nod - The Bureau of Public Enterprises (BPE) plans to deepen collaboration with the new Federal Mortgage Bank of Nigeria (FMBN) executive management team towards recapitalising and repositioning the bank for more effective affordable housing delivery. Source THISDAYLIVE Read More

PROSHARE TECHNOLOGY

E-payment: Nigerians’ Spending on Utility Bills Soars by 387% - The amount Nigerians spent on electronic bills such as power and other utilities grew by 387.19 per cent from N189.50bn in the first four months of 2019 to N923.24bn in the corresponding period of 2022, indicating an increase in the use of e-channels by Nigerians. Source Punch Read More

FDIs into Telecoms Sector Hit $57m, Airtel Stakes $42m on Spectrum - Some $57.79 million in foreign direct investments entered Nigeria’s telecoms sector in quarter one (Q1) 2022. This is according to the latest capital importation report by the National Bureau of Statistics ((NBS). Source The Guardian Nigeria Read More

PROSHARE MSME

NBCC Advocates Technological Advancement to Boost Nigeria's Agriculture Sector - The Agricultural sector, which reads as the largest sector of the Nigerian economy and contributes two-thirds of the entire labour force, is still faced with production hurdles, which have significantly stifled its performance. Source NBCC Read More