Wednesday, May 25th, 2022 / 5:54 AM / By News Aggregator / Header Image Credit: Ministry of Finance, Budget and National Planning

PROSHARE ECONOMY

Gasoline Prices Are Set to Spike This Week - OIR 240522 - The combination of physical tightness and robust demand is keeping oil prices near the $110 mark. This week, gasoline prices are likely to garner plenty of attention as inventories continue to drop and US drivers gear up for Memorial Day weekend travel. Source Tom Kool of Oilprice Read More

CBN MPC Raises MPR to 13% at the End of May 2022 MPC Meeting - The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting in May 2022. This meeting marks the third MPC meeting for the year 2022. Source Proshare Research Read More

BoE Climate Stress Test Finds Impact Will Fall on Bank Customers - Banks and insurers are likely to be able to withstand the impact of climate change, in many cases by making their customers bear the costs, the Bank of England found in its first climate stress test. Source Central Banking Read More

Agusto & Co: Nigeria’s Debt Rose Steeply by 226% to N39.56trn in 7 years - In a report, analysts at Agusto & Co. summed Nigeria’s debt burden since the beginning of President Muhammadu Buhari’s administration to have risen by 226 per cent to N39.56 trillion as at December 2021, a massive leap from N12.5 trillion in June 2015. Source THISDAYLIVE Read More

PROSHARE MARKETS

Nigerian Banks: Solving the Price-to-Book Value Puzzle - Few, if any, Nigerian bank is priced at a value equal to the liquidation value of their underlying assets. Banks are priced based on investors' wild whims and wobbly expectations. But why? Like the sands of the Sahara, Nigeria's equity market moves in mysterious ways. Source Teslim Shitta-Bey, CE/ME Proshare with Jariyat Bakare, Proshare Research Read More

Investors Lose N518.55bn as NGXASI Dips by -1.82%; Debt Market Size Declines by 0.11% to N27.40trn; IEFX Rate Appreciates to N419.00 - The NGX All-Share index dipped by -1.82% to close at 51,949.64 basis points as against the -0.13% loss recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N518.55bn loss. YTD, the NGXASI Stands at +21.62%. Source Proshare Research Read More

ALERT: 1.40% of ETI’s Outstanding Shares Traded on NGX Today - At the close of trading on Tuesday May 24, 2022, a total volume of 257.63mln units of shares of Ecobank Transnational Inc (ETI) Plc valued at N2.96bn were traded. Source Proshare Research Read More

PROSHARE REGULATORS

SEC: We’ll Intensify Efforts on Identity Management for Capital Market - The Securities and Exchange Commission (SEC) says the identity management system currently being developed by the capital market will tackle the lingering identification issues. Source TheCable Read More

PROSHARE BUSINESS

Oil Marketers Seek Investments in New Trucks - Clement Isong, Executive Secretary of the Major Oil Marketers of Nigeria, on Tuesday, called for investments in new trucks. He said most of the 40, 000 petroleum product trucks on Nigerian roads were about 40 years old. Source Punch Read More

We’ve No Control Over Price of Cooking Gas – LPG Union - The President of the Nigeria Liquefied Petroleum Gas (LPG) Association, Nuhu Yakubu, says the association has no control over the price of cooking gas in Nigeria, following the rising cost of the product. Source Daily Trust Read More

PROSHARE TECHNOLOGY          

51 million Phone Owners Lack NIN – Report - According to the Nigeria Communications Commission’s document, titled, ‘Deployment of a Device Management System: Project Information Memorandum,’ Nigeria had about 132 million unique devices connected to telecommunication networks in 2020. Source Punch Read More

NIBSS e-Banking Transactions Declined in April - Electronic transactions through the use of Point-of-Sale terminals (POS) electronic bills payment platform as well as funds transfers through the Nigeria Inter Bank Settlement System (NIBSS) Instant Payment channel reduced in April compared to March this year. Source THISDAYLIVE Read More

Fed Govt Okays Tax Reliefs, Other Incentives for Tech Startups - The approval was given by the Federal Executive Council (FEC) to further harness the country’s digital innovation and entrepreneurship ecosystem, during its meeting following the presentation of a memo by the Minister of Communications and Digital Economy, Prof Isa Pantami. Source The Nation Read More

PROSHARE FINANCE

Lagos Business School, Ranks Among the Top 50 Global Business Schools in Financial Times of London 2022 Executive Education Ranking - Lagos Business School (LBS) has been ranked as one of the top global business schools by the Financial Times in its Executive Education 2022 ranking. This is the 15th consecutive year that LBS features on this exclusive ranking table. Source LBS Read More

PROSHARE MSME

MTN, Google, Microsoft Empower MSMEs With Digital Skills - MTN Foundation, Google and Microsoft have partnered to empower 3000 young entrepreneurs of between 18 and 35 who own or manage a Micro, Small, and Medium Enterprise (MSME) for at least two years. Source The Nation Read More