PROSHARE ECONOMY

Ajaokuta Steel Projects 500,000 Jobs, $1.6bn Annual Revenue - The President, Major General Muhammadu Buhari (retd.), on Thursday, said his government had spent over $400m (N179bn), to liberate Ajaokuta Steel complex from the “legal traps” that have kept it unattractive to private investors for the decades. Source Punch Read More

685m People Could Be Living in Extreme Poverty By End of 2022, Says World Bank - The international financial organisation, in its report titled ‘2022 in nine charts’, said slowing economic growth contributed to a reversal of progress on the global poverty agenda and an increase in global debt. Source TheCable Read More

Nigerian Naira Drops to Record Low on Official Market, Forwards Ease - The Nigerian naira dropped on Thursday to a record low of 462 per dollar on the official market, Refinitiv data showed, with traders saying the central bank has been adjusting rates to cope with backlog demand for foreign exchange. Source Reuters Read More

PROSHARE MARKETS

Proshare’s Top Ten Articles in 2022 - Of Bluster, Brigandage, and Policy Bombings - The selection of stories below represents a few of the original Proshare articles for the year 2022 that paints a picture of a year full of bluster and brigandage speckled with unique sectorial insights. Source Proshare Research Read More

Investors Gain N199.02bn as NGXASI Advances Further by 0.73%; Overnight Rate Closes Flat to 10.83%; BDC Advances to 744 - The NGX All-Share Index advanced by 0.73% to close at 50,300 basis points as against a 0.46% gain recorded previously to close at 49,934.60 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records a N199.02bn gain. YTD, the NGXASI Stands at +17.75%. Source Proshare Research Read More

SEC: Revised Master Plan Will Reposition Capital Market - The Revised Capital Market Master Plan 2015-2025 (RCMMP), developed by the Securities and Exchange Commission (SEC) Nigeria in collaboration with stakeholders, has been described as capable of providing a blueprint to harness these opportunities to better position the capital market as the engine of our economic growth and development. Source ThisDay Read More

PROSHARE BUSINESS

Employee Experience – Attracting and Retaining the Right Talents - ‘THE GREAT RESIGNATION’ was coined due to the great exodus of millions of employees worldwide within the last year and a half from the organisations they work. According to the Society of Human Resource Management, 4.5 million people left their jobs in November 2021 in search of more flexibility, greater purpose, and increased pay. Source Phillips Consulting Read More

Oil Set to Close Higher In 2022, A Turbulent Year Marked By Tight Supplies - Oil prices edged up on Friday and were on track to post a second straight annual gain, albeit a meagre one, in a year marked by tight supplies due to the Ukraine conflict, a strong dollar and weak demand from the world's top crude importer China. Source Reuters Read More

PROSHARE TECHNOLOGY

FG Prioritises Transforming Nigeria into a Hub for Talent and Innovation - The Director General, National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE has said the Federal Government is prioritising efforts to establish Nigeria as a leading hub for talent and innovation in Africa. Source TechEconomy Read More

PROSHARE FINANCE

New Premium Rates for Motor Insurance in Nigeria - The National Insurance Commission (NAICOM), Nigeria's regulator of the insurance sector, has announced new Premium Rates for various sub-categories of Motor Insurance with effect from January 1, 2023 and this is unlikely to be postponed. Source Ekerete Ola Gam- Ikon Read More

Senate Urges CBN to Forfeit N180 Billion Loans Disbursed via NIRSAL MFB - The Senate ad hoc committee investigating alleged uneven disbursement of loans, grants and interventions in the six-geopolitical regions by NIRSAL Microfinance Bank has urged the Central Bank of Nigeria (CBN) to write off the trapped N180 billion loans granted Nigerians during the coronavirus pandemic. Source Guardian Read More