PROSHARE ECONOMY

The Rights & Wrongs of Investing in Natural Gas - Should Multilateral Development Banks Finance Gas Projects? - Can natural gas ever be a “green” investment? Burning any fossil fuel inevitably makes the planet warmer. Yet switching power stations to gas from more carbon-intensive coal has helped countries cut their total emissions in the past. Source FDC Ltd Read More

Are Oil Prices Heading Back To $120? - OIR 280622 - As we predicted last week, the temporary weakness in oil prices coming from a widespread futures sell-off by speculators was nothing more than just a respite before another upwards climb. The unchanged physical tightness in oil markets. Source Tom Kool of Oilprice Read More

Fuel Subsidy, Refinery Rehabilitation Gulped N1.3tn in Five Months – NNPC - The amount spent as subsidy on Premium Motor Spirit, popularly called petrol, and on refinery rehabilitation between January and May this year was N1.301tn, figures released on Monday by the Nigerian National Petroleum Company Limited showed. Source Punch Read More

Lagos Set to Unveil 30-year Development Plan - Lagos State Governor, Mr. Babajide Sanwo-Olu yesterday disclosed plan by the state to unveil a 30-year development plan. Sanwo-Olu said the development plan that would be launched at the forthcoming 9th Economic Summit of the State (known as Ehingbeti), was developed in pursuit of the state’s physical development. Source THISDAYLIVE Read More

PROSHARE MARKETS

Investors Lose N85.65bn as NGXASI Dips by -0.31%; Debt Market Size Grows by 0.04% to Close at N28.01trn; BDC Rate Appreciates to N613 - The NGX All-Share Index dipped by -0.31% to close at 51,803.98 basis points as against +0.50% gain recorded at the end of the previous trading session. In Naira terms, the NGX Market CAP records N85.65bn loss. YTD, the NGXASI Stands at +21.27%. Source Proshare Research Read More

The Markets in Review: Nigeria’s MSCI Index Eviction, déjà vu? – Coronation Research - Nigeria’s equity market is not a developed market, nor an emerging market but it is a recognised frontier market – so far. Last week MSCI Inc. floated the possibility of removing Nigeria from even this category. We have been here before and, if this happens, the immediate effects will be far from dramatic. Source Coronation Research Read More

Why Nigerians Should Invest in Federal Government Securities – CSL Stockbrokers - The Managing Director of CSL Stockbrokers Limited (a subsidiary of FCMB Group Plc), Mr. Abiodun Fagbulu, has advised Nigerians to invest more in the various federal government securities as they offer higher returns on investment. Source CSL Stockbrokers Read More

PROSHARE BUSINESS

Federal Govt Raises Tax on Tobacco Products to 30% - In a bid to reduce the demand and consumption of tobacco products in the country, the federal government has commenced implementation of a new three-year tobacco tax regime with effect from 1st June 2022 to 2024. Source LeadershipNG Read More

Mixed Reactions from Stakeholders, As Increase in Aviation Fuel Price Threatens Airline Operations - The continuous increase in the price of aviation fuel, also known as, Jet A1 has continued to give stakeholders in the nation’s aviation sector, concern over profitability and existence of airline operators. Source LeadershipNG Read More

Kaduna Dry Port Sets for Domestic Export Warehouse Operation - The Kaduna Inland Dry Port (KIDP) is set to commence operation as Nigeria’s first Domestic Export Warehouse (DEW) to promote export of locally made goods and agricultural produce. Source The Guardian Nigeria Read More

PROSHARE TECHNOLOGY

Financial Inclusion in Nigeria: Closing the Gender Gap - This gender gap in financial inclusion is particularly challenging because there is incontrovertible evidence that increasing women’s financial access has immense economic and social advantages, as seen in Kenya, South Africa, Tanzania, and Uganda. Source Phillips Consulting Read More

Telecom Firms’ Operating Costs Rise by N265bn – NCC - The operating costs of telecommunication companies in Nigeria rose from N1.4tn in 2020 to N1.66tn in 2021, showing an increase of N265.25bn. This is according to the ‘2021 Subscriber/Network Data Annual Report’ by the Nigerian Communications Commission. Source Punch Read More

Proposed Tariff Hike May Raise Telcos’ Voice Revenue to N1.55tn – NCC Report - Telecommunications companies’ voice revenue could jump by at least N442.57bn to N1.55tn in a year if the price floor of calls is raised by the operators from N6.4 to N8.95. Source Punch Read More

PROSHARE FINANCE

NAICOM Cancels Certificates of Registration of Niger Insurance Plc and Standard Alliance Insurance Plc - This is to notify all insurance stakeholders and members of the public that the National Insurance Commission, NAICOM has CANCELLED the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 with effect from the 21st day of June, 2022. Source NAICOM Read More