PROSHARE ECONOMY

Fuel: Mass Supply Begins in Lagos, Three Others in January - A special joint arrangement by the Nigerian National Petroleum Company Limited and 30,000-member independent petroleum marketers will lead to mass supplies of Premium Motor Spirit, popularly called petrol in Lagos, Calabar, Port Harcourt and Ogara beginning next month. Source Punch Read More

Nigeria Missed 2022 Poverty Reduction Target – W’Bank - The World Bank Group has said that the estimated per capita income growth of 0.7 per cent for Nigeria and the rest of Sub-Saharan Africa in 2022 is insufficient to meet the challenging goals of poverty reduction and shared prosperity in the medium to long term. Source Punch Read More

FG Plans Tax Waiver Suspension for Rural Firms - The Federal Government has proposed suspension of tax relief and rebates being granted to companies established in locations lacking public infrastructure, who are providing electricity, water and other amenities for themselves. Source Punch Read More

PROSHARE MARKETS

Many Pressure Points of Forex Scarcity in Nigeria - Market analysts note that a combination of speculation, lack of productivity, and global monetary tightening robbed the Naira of value in 2022. As FX demand outweighs supply, the Naira has experienced significant volatility and depreciation in the parallel market. Source Proshare Research Read More

SEC Reminds Market Operators on Renewal of Registration - Capital Market Operators and the general public have been informed that the annual renewal of Registration for year 2023 will commence from January 01, 2023 and expected to end on January 31, 2023. Source Leadership Read More

PROSHARE BUSINESS

CEO Remuneration 2022: The Pay and Perks of Nigerian Breweries' CEO - Nigeria’s biggest beer-maker, Nigeria Breweries beer maker the highest percentage growth in its Revenue-to-CEOs’ pay ratio, as CEO revenue outcomes rose by +102.44% driven by a +29.71% increment in revenue and a -5.93% decline in CEO’s pay. Source Proshare Research Read More

Supplementary Budget: LCCI Seeks More Investment In Infrastructure - The Lagos Chamber of Commerce and Industry (LCCI), has urged the government to invest more in building infrastructure to prevent future disasters. Source Leadership Read More

PROSHARE TECHNOLOGY

Introducing Nigeria to Quality Internet: 5G Broadband Penetration - Tech sector growth will pull up Nigeria’s gross domestic product (GDP) but a lot will depend on the development of overall infrastructure and public policy. The federal government’s recent tax decision on tech-related services may prove to be a drag but increased digital penetration may counter tax effects. Source Proshare Research Read More

Global Bank Rules, Capital Reqs Discourage Crypto-Backed Loans - The Basel Committee on Banking Supervision’s (BCBS) new global standard for the prudential treatment of crypto assets, given the increased capital requirements, may deter banks from granting loans backed by riskier crypto assets that have led to waves of contagion within the broader crypto ecosystem, Fitch Ratings says. Source Fitch Ratings Read More

Cashless Economy: Govts Tasked on Provision of Adequate Electricity, Telecomms Infrastructures - An economist, Dr Chiwuike Uba, has urged Federal and state governments to invest in the provision of stable electricity and telecommunication infrastructure for Nigerians to maximize the gains of a cashless economy Source Vanguard Read More

PROSHARE FINANCE

Cash Outside Banks now Stands at 80%, According to CBN - According to the Central Bank of Nigeria (CBN), more than 80% of the currency in circulation is now held in cash outside of commercial institutions. Source TechEconomy Read More