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Analysis of companies, stocks, investments, products and services, economy, budgets, business decisions in the Nigerian economic space.

Reasons why customers switch banks

Why customers switch banks

Circumstances could require that a bank is changed to get the type of services you need, especially if your bank doesn’t evolve as fast as you do.
CBN-Governor-Emefiele, Investors’ and Exporters’ forex window aided Naira stability – Emefiele , Financial Inclusion: CBN licensed 15 mobile money operators – Emefiele , Rates continue to decline as banks struggle to meet CBN’s 65% minimum LDR, CBN releases new guidelines, to fine banks N2 million over customers’ complaint , CBN: FG fell short of monthly allocated collected revenue by N388 billion, CBN issues new rule for use of PoS, merchants to face sanction after deadline, CBN may devalue naira in 2020 as experts highlight red flags in the economy, CBN appoints and redeploys directors within its ranks, Banks look to lending rates for revenue, as slash on e-transaction charges affect operations, CBN discloses currency in circulation worth N2.44 trillion, CBN to commence recycling of mutilated naira notes, Agriculture: CBN's revised policy on the dairy industry, CBN condemns foreign money transfers to Nigeria, Experts outline effect of CBN’s longer term contract, Bank’s lending rates decline albeit slower than expected

Bank’s lending rates decline albeit slower than expected

Based on CBN's report, Prime Lending Rate and the Maximum Lending Rate declined 0.3ppts and 1.2ppts respectively to 15.0% and 30.0% respectively in Q4 2019.
Flour Mills plans to issue N20 billion fixed rate bonds

Flour Mills: Growth outlook still positive, potential upside exists

Flour Mills Nigeria Plc released its 9M 2020 financial results showing a 5.7% y/y growth in Revenue to N423.5 billion from N400.6 billion in 9M 2019.
Quality of local rice improves as food prices drop across major markets Prices of major household items on the high as weather condition limits harvest

Prices of tomatoes, garri, potatoes, others jump as low inventory hits major markets

Nigerians may face hard times in the coming weeks as the latest Nairametrics Household survey reveals that the prices of major household commodities increased significantly as low inventory hits major markets in Lagos State.
CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele  , Increasing food prices might erase chances of CBN cutting interest rate   , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million  , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, CBN, Bankers Committee move to revive National Theatre with N25 billion , Nigeria’s 3.46 trillion fiscal deficit a source of concern – MPC Member , CBN says Nigerian banks assets and liabilities is now at N41.42 trillion , BVN: CBN to link 100 million banks accounts through proactive means, Foreign reserves drops $4.45 billion, edges closer to $30 billion devaluation benchmark, Payment system framework: CBN provides guidelines to address systemic risk, others, CBN retains Loan to Deposit Ratio at 65% as against increment to 70% , Federal High Court could jail Emefiele over $53 million judgment debt, CBN strongly denies establishing a poultry farm to support its monetary policies, Analysts explain when, why CBN could devalue naira by 5-10%, Banking: Surprise hike in CRR-Implications for banks, Agriculture: Suing ABP beneficiaries; A wild goose chase? , CBN lists major constraints affecting businesses, as borrowing rates projected to rise, CBN’s N287.8 billion T-bills auction records oversubscription, as rates fall marginally, CBN to give Niger Delta rice farmers single-digit loan , Naira and exchange rates

Naira and the exchange rates

In exchange rate, when Nigeria sells oil, she is paid in dollars, but when Nigeria imports, she spends those dollars also.
FG moves to reduce gender inequality in agriculture, De-risking the agricultural sector

Reducing risks in the agricultural sector

The MD/CEO of NIRSAL disclosed that the institution had provided insurance cover worth N6.5 billion to protect farmers in the country.
energy, corp, recapitalization, New FIRS boss, Nigerians react following the end of Fowler’s reign as FIRS boss, Buhari seeks recapitalisation of African energy corporation to $1 billion tune, Outrage as President Buhari approves N37 billion for National Assembly renovation, Buhari to create new economic opportunities in agric, other neglected sectors , Economy: President Buhari signs Finance Bill into law, Agric: Buhari advances commitment to improve textile, food security, others, FG concludes plan to borrow N2 trillion from Pension Fund , Pres. Buhari’s plan to tax US tech companies might provoke US trade war, UPDATED: Nigerian economy grows by 2.27% in 2019, post highest quarterly growth since 2016 recession

UPDATED: Nigerian economy grows by 2.27% in 2019, post highest quarterly growth since 2016...

Nigeria’s Gross Domestic Product (GDP) grew by 2.55% in real terms, in the fourth quarter (Q4) of 2019, up from 2.38%.
Corporate Story: Intriguing tale of Seven-Up’s ugly fight for market share in Nigeria

Corporate Story: Intriguing tale of Seven-Up’s ugly fight for market share in Nigeria

For many years, competition in the Nigerian soft drink market was mainly between Coca-Cola and Seven-Up but in 2014, Rite Food came and disrupted the space.
Is there trouble in paradise for the South African economy?

Is there trouble in paradise for the South African economy?

South Africa, which is often touted as one of Africa’s most developed nations, seems to be going through a rough patch economically.
Tomato sellers in NIgeria, Nigeria’s tomato shortfall: What’s the way forward?     

Nigeria’s tomato shortfall: What’s the way forward?     

Yesterday, NIHORT announced at its 2-day workshop that Nigeria’s tomato supply gap now stands at 700,000 metric tonnes.
Zenith bank, Zenith Bank: Strong growth in Non-Interest Income offset weakness in Interest Income

Zenith Bank: Strong growth in Non-Interest Income offset weakness in Interest Income

Zenith Bank recently released its FY 2019 AUDITED report wherein Interest Income declined 6% y/y to N415.6 billion.
Blockchain technology expected to tackle Africa’s challenges across multiple industries

Blockchain technology expected to tackle Africa’s challenges across industries

Blockchain technology is slowly but surely moving beyond secure, seamless, transparent, trusted and convenient transactions.
stock, shares, Equity Market down by 0.6% on Monday, Quoted Companies post N4.2 trillion combined profits since 2015, Stockbrokers in Lagos are shifting focus to commodities as stocks underperform, Stock Market gains N204 billion, as effects of OMO restriction kicks in , Penalties: NSE makes over N143.6 million from banks, real sector in 2019 , These companies could soon be delisted from the Nigerian Stock Exchange , C&I Leasing, Oando, UBA, two others top gainers chart on Wednesday, 2020 Nigerian Equities Outlook: Breaking the Jinx?, LASACO, AIICO lead gainers on Wednesday, as bourse dips 0.91% , MTN, Zenith, GTBank lead actively traded stocks on Thursday , Equities: Bearish trades cost the Stock Market N403.02 billion in one week, Blue chips outperform, as All-Share Index up by 9.2% since OMO ban 

Investors channel funds to forex, equity after OMO ban- Report

The Nigerian equities market has rallied strongly, with blue chips outperforming, and the all-share index up by 9.2% since the CBN's OMO ban.
Palm Oil: Industry potentials remains untapped    

Palm Oil: Industry potentials remain untapped    

Based on the December 2019 World Bank price index for crude palm oil at US$769.93, Nigeria lost N90.1 billion to importation of what it could produce last year.
United Capital: The good and the bad

United Capital: The good and the bad

On Tuesday, United Capital Plc released its audited results for the 2019 financial year.
taxes, tax, business, FAAC disbursed N617billions in April, as South-South scoop N72billions, VAT, Finance Minister, Zainab Ahmed says Nigeria VAT collection rate is low, NBC, Rite Foods, others to pay new tax as FG identifies new revenue streams ,,Finance Minister reveals how World Bank, AfDB pushed FG into requesting Chinese loan 

How capital and recurrent expenditure work, a case study of Lagos & Enugu

Capital expenditure is mostly investment in assets that are used over time in the provision of goods or services to the taxpayers.
Nigerian Breweries, the glory days are gone

Analysis: Nigerian Breweries, the glory days are gone

These days, the story is somewhat underwhelming for Nigerian Breweries and every year it gets worse, as the brewery giant reported a profit after tax of N16 billion from revenue of about N323 billion only
Inflation: Headline Inflation sustains uptrend

Inflation: Headline Inflation sustains uptrend

Based on the data released by the National Bureau of Statistics, Headline inflation in Nigeria rose by 15bps to 12.13% in January.
Despite intensive advertising, International Breweries reported lower revenue and a loss 

Despite intensive advertising, International Breweries reported lower revenue and a loss

Despite aggressive marketing and advertising strategies in 2019, International Breweries Plc reported a drop in revenue and a loss.
Nigerian Pension funds, 2019 pension fund performance ranking

How Pension funds performed in 2019

Pension funds in Nigeria recorded impressive performances in 2019. The Retirement Savings Account, RSA, category made an average of 13%, with returns ranging from 19.38% to 6.94%.
Gas flaring, Gas flaring: A never-ending dark tunnel  

Gas flaring: A never-ending dark tunnel  

World Bank’s Global Gas Flaring Reduction Partnership (GGFRP) ranks Nigeria as the 6th largest gas flaring country globally.
President Muhammadu Buhari, loans, Oil price, FG, Solar vehicles, P&ID firm, Nigeria's GDP, Debt Servicing: Nigeria pays $1.12 billion to World Bank, others in 10-month , How the latest Fitch report affects you in 2020 

UPDATED: Inflation rate jumps to 12.13%, highest in 21 months

Nigeria’s inflation rate has increased from 11.98% recorded in December 2019 to 12.13% in January 2020.
Data War: MTN edges our Airtel for first time in 5 months as 493,556 subscribers dump Glo, 9mobile , MTN is winning the data war, as 1.88 million subscribers dump Glo, 9mobile, Data War: MTN gains 8.18 million subscribers in 2019, as Airtel edges Glo, 9mobile

Data War: MTN gains 8.18 million subscribers, as Airtel edges Glo, 9mobile in 2019

Data released by NCC as at last December, disclosed that MTN recorded 54.11 million data subscribers over Airtel's 34.52 million subscribers in 2019.
GencosArnergy secures $9 million from investors, Electricity poles, Transmission Company of Nigeria, TCN to ban Ikeja Electric Eko Discos and Enugu Discos, Discos, power supply in Nigeria, Association of Nigerian Electricity Distributors,ANED, PwC proposes possible solutions to the biggest problem facing Nigeria’s electricity sector, GenCos to shut down over NBET's administrative charge  , DisCos fail to distribute 8,848.24 megawatts of electricity - TCN , Crisis rocks SSAEAC as association leaders accuse each other of sabotaging power grid, Power: No solutions yet   

Power: No solution at hand   

Based on data from the Advisory Power Team in the Office of the VP, the nation's power sector lost an estimated N19.15 billion in 10 days.
LaCasera had an awkward Valentine’s Day moment with Gala, causing customers to react 

LaCasera had an awkward Valentine’s Day moment with Gala, causing customers to react 

On Valentine’s Day, a Twitter account supposedly linked to The LaCasera Company posted a rather interesting tweet in commemoration of lovers’ day. 
Ghana’s cedi becomes investors’ best choice ahead Nigeria’s naira  

Ghana’s Cedi becomes investors’ delight ahead Nigeria’s Naira  

Ghana has been considered top on foreign investors list this year despite the slowing economy the country has had in recent times. 
You are working for Nigeria, not for personal interests, Buhari warns MDAs, This is how much the Federal Government borrowed from Pension Funds in 2019, Increased productivity and higher employment rate required for inclusive growth - IFC 

This is how much Federal Government borrowed from Pension Funds in 2019

A few weeks ago, many news media organizations published articles on the plan by FGN to borrow a whopping N2 trillion from the pension funds.
To protect margins, Nigeria’s top brewers are set to increase prices , Nigerian Breweries, Economy: Local corporates taking advantage of the low yield environment , Nigerian Breweries goes to the retail lab, Analysis: Nigeria Breweries, the glory days are gone

Nigerian Breweries goes to the retail lab

Nigerian Breweries released its audited results for the 2019 financial year. As expected, there was a slight dip in both topline and bottom line.
Mobility in Africa 

Mobility in Africa, breaking new grounds

As Africa enters a technology revolution, the pace of urbanisation will increase, and the ever-pressing issue of mobility will increase with it.
Tony Elumelu and his disposition towards female bosses

Tony Elumelu and his disposition towards female bosses

Tony Elumelu is an accomplished businessman, a notable philanthropist, and an equal opportunity employer who likes to give everyone a chance in life.