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

The National Bureau of Statistics on Wednesday reported that Nigeria's inflation rate for the month of October was 15.91% making it the 9th consecutive month the country has recorded a drop in inflation rate. The latest inflation rate data compares to the 15.98% reported in September 2017 On a month on...
Nigeria’s tier one banks christened by Nairametrics as FUGAZ (FBN Holdings, UBA Plc, GT Bank, Access Bank and Zenith Bank ) have spent a total of N19.5 billion as travel expenses for the 9 month period ended September 2017. The banks had spent N14.2 billion in the corresponding period...
Moody's Investors Service (Moody's) recently downgraded to B2 from B1 the long-term local currency deposit and issuer ratings of four tier one Nigerian banks and the of Bank of Industry. Moody's also downgraded to B3 from B2 the long-term foreign currency deposit ratings of four tier one banks and two...
Nigeria’s Property & Real Estate listing platform, ToLet announced on Friday that it had acquired Jumia House, a property listing rival for an undisclosed sum. However, further research by Nairametrics reveals ToLet, lead by its majority owners, FDV paid Jumia house $500k and agreed to sell Afribaba.com. It's investment...
Imagine owning a business that post no revenues? This is often synonymous with Startups and businesses still at conceptualization stages. Now, imagine if this business is decades old and publicly listed on the Nigerian Stock Exchange. Union Dicon Salt Ltd, a publicly quoted Nigerian company, has for 23rd straight quarter...
The Entertainment and Media (E&M) industry has become a gold mine in the most advanced economies and other developing markets are just beginning to harness it. For the purposes of this piece, E&M hereinafter refers to commercial activities related to the production, marketing, distribution, broadcast, licensing or other exploitation...
Traditionally, investors’ appetite and need for income comes from fixed income instruments like treasury bills and bonds. Until recently, 10-year Nigeria treasuries have delivered an average yield in the upwards of 15% thereby providing a high level of income to investors with a relatively minimal level of risk. However,...
The 2017 9 months results of Nigeria’s tier one banks, comprising FBN Holdings, UBA, GT Bank, Access and Zenith (FUGAZ,) showed a combined earnings of about N451.8 billion from treasury bills and government bonds, compared to N270 billion earned same period in 2016. The top 5 banks made a combined...
The global desire for infrastructural development is insatiable especially in an emerging market like Nigeria where there is a growing concern about the state of infrastructure. The World Bank puts global infrastructural need at an estimated $3.7trillion of which only $2.7 trillion is met on an annual basis. The infrastructural...
Quantitative Financial Analytics ltd has rolled out its Bond Analytics Report. The Report is a comprehensive report that provides a robust bond analytics on Nigerian Sovereign and corporate as well as Savings bonds. It is a solid fixed income derived data which allows bond investors to efficiently manage their...
Nigeria’s plan to shift more of its borrowing overseas may improve its lackluster recovery from recession. But it’s likely to raise risks associated with servicing its debt amid scant progress on reducing the government’s reliance on oil revenue. There’s also mounting uncertainty about federal government tax income amid demands...
The Security and Exchange Commission, SEC, on Wednesday issued instruction to the Nigerian Stock Exchange to place the shares of Oando Plc on technical suspension. The exchange was further requested to place the stock on full suspension for 48 hours and then place it on technical suspension till further notice. This...
Nigerian Mutual Funds assets have grown by limps and bounds for the last couple of years but it appears that that growth has accelerated further so far in 2017. According to available information released by the SEC, the total asset value of mutual funds in Nigeria stood at N354...
About two years ago, Nigerian bonds went from being a highly sought after asset to a “must avoid” country for most GEM and Frontier managers. Oil prices went south as well as oil exports, the Central bank decided to adopt strict currency controls, this saw the black market trade...
Finance Minister, Kemi Adeosun at a press conference held during the recent World Bank/International Monetary Fund (IMF) annual meetings held in Washington, stated that the government had to embark on massive borrowing, to prevent downsizing the civil service. We felt that laying-off thousands of persons was not the best way...
This is Nairametrics rundown of what to expect in the Nigerian economy this week. The month of October is typically the earning month and being the first month in the last quarter of the year, most economic activities ramp up from this week on to the second week of...
Last week I wrote a post mortem, my thoughts on why I believed GoMyWay failed. Seriously guys, I did not enjoy it. This week, I could have written about efritin.com, but I decided against it. So, this week’s article is dedicated to trying to avoid writing another post mortem. Like...
At the inception of this Government, economic indices were somewhat stable: Inflation was single digit, fuel price was below the N100 mark, consumer price index was responsible and capacity utilization was bearable. But dark clouds loomed; there was massive pillage of oil receipts occasioned by the ballooning petrol subsidy...
Uber’s 4-year anniversary: Not much to celebrate, as world’s largest ride-hailer struggles to scale in Nigeria’s perilous taxi market Leading ride sharing app, Uber celebrated four years of operating in Africa last week. It also announced that it had created about 29,000 jobs or economic opportunities as it will like...
The petroleum industry received a new boost recently as the Federal Government reduced the cost of obtaining a refinery license from $1,000,000(one million dollars) to $150,000 (one hundred and fifty thousand dollars) among other things. This move already applauded across board by stakeholders in the petroleum industry and the population...
If you have been observer of the Nigerian economy in the past few years you must have read about the pending debt crisis. The story has been brought to the front burner again recently with the request by the federal government to sell $5.5bn worth of Eurobonds. The question...
Usually, a text message alert from a commercial bank is common for Mr Deji, a forex dealer in Lagos, Nigeria's commercial hub. But there was something strange about this message which suggested that this was going to be a very unusual day. It was as if his eyes were...
  The United States Department of Homeland Security, DHS, encapsulates online safety best practices in a catchphrase: STOP. THINK. CONNECT. The first step is to STOP: ensure security measures are in place. THINK: about the far-reaching consequences of your actions/online activities. CONNECT: and enjoy your devices with more peace of...
Just last week, reports from a section of the foreign and local media reported that Naira scarcity loomed in the Nigerian economy. It appears though, that the scarcity has turned to surplus in more too familiar market. Data from the latest CBN's treasury bills auction of October 4th 2017 reveals...
Just this week, the State Minister for Petroleum Resources, Dr. Ibe Kachikwu alleged that the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has overreached his authority by making numerous changes in the internal structure of the NNPC. The nature of these changes has warranted...
“Large firms are more productive and more profitable than their more modestly-sized counterparts. They also pay higher wages and are more competitive in international markets. Not surprisingly, economically more successful countries have a greater share of large firms.” The above statement is a key summary from a recent paper published...
  What is the pay-as-you-watch cable service all about? Pay-As-You-Watch (PAYW) cable service is a unique cable service that allows you to pay for the cable service as you use it. This service is rare because most cable service providers rather use the prepaid or Pay-Per-View option. The PAYW cable service...
Here is something you’ve probably not heard regarding agriculture in Africa, African farmers are old. Think about it for a second. Do you know anyone that owns a farm? What is the age of this person? According to the United Nations Development Programme (“UNDP”) dataset, the average Kenyan farmer is...
Funds transfer in Nigeria has come a very long way. Today, if you want to transfer money to your kid in a University located in another state, all you need to do is open your banking application and punch in the amount, select bank and beneficiary and in seconds...
The SBM Jollof index is a composite index that tracks the prices of the main ingredients used to prepare a pot of one of Nigeria's primary delicacies – Jollof rice, for a family of six. This meal was selected because it has the near unrivalled distinction of being a...