PROSHARE MARKETS

NGXASI Close Flat; Overnight Rate Contrast to 10.80%; BDC Rate Depreciates to N753 - The NGX All-Share Index closed flat at 55,603.94 basis points as against a 0.14% gain recorded previously to close at 55,605.57 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N889.07mn loss. YTD, the NGXASI Stands at +8.49%. Source Proshare Research Read More

PROSHARE ECONOMY

Nigeria’s 2023 Population and Housing Census Will Require N869bn to Execute - FG - The 2023 Nigerian National Census scheduled for March 29th to April 2nd will require a total of N869bn to execute. Prince Clement Agba the Minister of State, Federal Ministry of Budget and National Planning, disclosed this in a recent briefing with high level partners on the 2023 Census. Source Proshare News Read More

Fuel Queues Resurface in Abuja, Kaduna and Other States - According to a Punch newspaper report, long queues to purchase Premium Motor Spirit, also known as petrol, have resurfaced in Abuja, Nasarawa, Niger, Kaduna, and other states. Oil marketers claim that the resurgence of fuel scarcity is due to a lack of access to the commodity, and that many of their trucks have been stranded at depots since October of last year. Source CSL Research Read More

PROSHARE REGULATORS

NMDPRA Assures Nigerians of Steady Supply of PMS Nationwide - The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA has assured Nigerians of steady supply of petroleum motor spirit, PMS nationwide. Source NMDPRA Read More

PROSHARE BUSINESS

Fed's Powell Sets the Table for Higher and Possibly Faster Rate Hikes - The Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the "totality" of incoming information suggests tougher measures are needed to control inflation, Fed Chair Jerome Powell told U.S. lawmakers on Tuesday. Source Reuters Read More

Naira Crunch: PAN Lament Impact of Naira Redesign on Egg Production - The Poultry Association of Nigeria (PAN) has stated that the Central Bank of Nigeria’s (CBN) Naira redesign policy has been creating untold hardship for poultry farmers in the country. Addressing a media briefing, the National President of PAN, Mr. Ezekiel Ibrahim, raised the alarm over the level of havoc the policy has caused in the poultry industry. Source THISDAYLIVE Read More

PROSHARE TECHNOLOGY

TikTok to Allow Creators to Sell Collections of Long-Format Videos - Chinese short-video sharing app TikTok said on Tuesday it will allow some creators to produce collections of longer videos and charge their audience a premium for access, opening up a new channel of monetization for its users. Source Reuters Read More

PROSHARE FINANCE

Decade of Gas: Stakeholders Move to Address Challenges Limiting Domestic Utilisation - Stakeholders in the Nigerian gas sector have stepped up measures aimed at realising the purpose and gains of the ‘Decade of Gas’ policy of the federal government, with key milestones set for achievement in this 2023. Source THISDAYLIVE Read More

PROSHARE MSME

BoI Reaffirms Commitment to Women-Led Businesses - The Bank of Industry (BoI) has reaffirmed its commitment to women-led businesses, saying there could be no sustainable development in Nigeria unless women were proactively empowered. Source Guardian Read More