PROSHARE ECONOMY

CBN MPC Raises MPR to 14% at the End of July 2022 MPC Meeting - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting in July 2022. This meeting marks the fourth MPC meeting for the year 2022. Source Proshare Research Read More

NNPC Approves Upward Review of PMS Pump Price of N169 for Lagos, N189 for Northeast Region - Media platforms are reporting that the Nigerian National Petroleum Company Limited has approved an upward review in the pump price of Premium Motor Spirit from N165 per litre to N179 per litre, effective Tuesday, July 19th, 2022. Source Proshare Research Read More

History Made as Nigerian National Petroleum Company (NNPC) Transitions into a Limited Liability Company, Ensuring Corporate Governance and Long-Term Sustainable Value - The inauguration of the Nigerian National Petroleum Company Limited is poised to reshape the oil and gas industry in Nigeria and serve as a model for other National Oil Companies all over the world. Source African Energy Chamber Read More

Federal Govt Mum as Marketers Raise Petrol Pump Price to N185/Litre - The federal government has finally bowed to antics of petroleum products marketers who have wittingly adjusted upward the pump price of Premium Motor Spirit (PMS) also called petrol. Source LeadershipNG Read More

PROSHARE MARKETS

Investors Lose N5.97bn as NGXASI Dips Marginally by 0.02%; Overnight Rate Expands by 0.50% to Close at 14.50%; BDC Rate Depreciates to N630 - The NGX All-Share dipped marginally by 0.02% to close at 52,308.88 basis points as against 0.20% gain recorded to close at 52,319.94 basis points at the end of the previous trading session. In Naira terms, the NGX Market CAP records N5.97bn loss. YTD, the NGXASI Stands at +22.46%. Source Proshare Research Read More

Lagos Commodities Futures Exchange Set for Inauguration on July 28, 2022 - Lagos Commodities and Futures Exchange (LCFE) has concluded arrangements to commence real-time trading this month as part of the plans to inaugurate the pan African Commodities Exchange. Source Lagos Commodities Futures Exchange Read More

The Markets in Review: FGN Bond Yields on the Move – Coronation Research - These are interesting times. The FGN’s US dollar 5-year bond yields 14.0%: the FGN’s Naira-denominated 5-year bond yields 10.7%. A normal observation would be that the Naira is a more desirable currency than the US dollar, since it requires the lower yield: but conditions are far from normal. Source Coronation Research Read More

PROSHARE BUSINESS

Exporters got N20bn Rebate from RT200FX – Emefiele - The Governor, Central Bank of Nigeria, Godwin Emefiele, has said that the bank paid eligible exporters over N20bn rebates in the second quarter of implementing the RT200 FX programme for exports worth $600m. Source Punch Read More

Oil Marketers Urge FG to Pay Outstanding Bridging Claims - The Association of Distributors and Transporters of Petroleum Products (ADITOP) has expressed dissatisfaction over unpaid bridging claims owed to its members by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Source TheCable Read More

Airline Operators Write FAAN, Seek Review of 90-day Closure of Lagos Airport runway - Nigerian airlines, under the aegis of Airline Operators of Nigeria (AON), have asked the Federal Airports Authority of Nigeria (FAAN) to urgently review the 90-day closure of the Murtala Muhammed Airport (MMA) runway in Lagos. Source TheCable Read More

Oil Prices Ease Ahead of U.S. Inventory Data - Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product demand weakens. Source Reuters Read More

PROSHARE TECHNOLOGY

“We Remitted N757.7b in 2021,” MTN Reacts to Tax Remittance Discrepancies - MTN Nigeria has reacted to media reports indicating discrepancies in tax remittances to the Federal Government. The telecom giant said it made a total contribution of up to N757.7 billion to the Federal Government and its relevant agencies through taxes, levies, fees, and duties. Source TechEconomy Read More

Netflix Sees Return to Growth After Million-Customer Loss - After losing more than a million customers in the first half of 2022, Netflix Inc. has a message for investors: It could have been worse. The leader in paid streaming TV lost 970,000 subscribers in the second quarter, according to a statement Tuesday. Source Bloomberg Read More

PROSHARE FINANCE

Strengthening Health Security Cannot Be Achieved Without Universal Health Coverage and Effective Primary Health Care - To strengthen health security and a decentralized health system in Nigeria with regards to epidemic preparedness, the Federal Government of Nigeria has been encouraged to not only pay keen attention to strengthening human resources for health security but also set data and accountability structure at the national and sub-national levels. Source Nigeria Health Watch Read More

PROSHARE MSME

AfCFTA: Afreximbank Offers Grant to Train 200 Young Entrepreneurs - The African Export-Import Bank (Afreximbank) has announced a grant to the Grand Africa Initiative (GAIN) to train 200 young African entrepreneurs on entrepreneurship and intra-African trade for three months starting in July. Source Daily Trust Read More