Nigeria to Record its Largest Economic Decline in Q2– FSDH
Capital importation: $5.8 billion flows into Nigeria’s economy in first quarter. Nigeria benefited from foreign investment flow amounted to $5.8 billion in the first quarter of 2020 amidst global disruptions.
Ahead of the rescheduled Monetary Policy Committee meeting of the Central Bank of Nigeria, Meristem Securities, Vetiva and others have predicted that the policy rates would be maintained.
Average prices of foods, transportation and health care among other needs have been projected to increase for month. Investment bankers have estimated uptick in headline inflation rate for the month of May, projected to spike to 12.43%.
CBN FX Adjustment Put Banks Minimum Capital Base below $70 Million. The Central Bank of Nigeria recent foreign exchange (FX) adjustment has rub off on capital position of banks, as a result experts are expecting capital raise for operators.
Nigeria’s economy expands 1.87% despite global disruptions. The National Bureau of Statistics (NBS) says the country’s Gross Domestic Product (GDP) grew by 1.87 percent year-on-year in real terms in the first quarter of 2020.
Nigerian Stock Market is Going Vertical, Impressively The Nigerians Stock Exchange is going vertical, and that will be sustained given…
Nigeria’s Oil Supply Quota Caps at 1.41 Million Barrels Per Day. As per efforts to reflate, stabilise global prices of oil, Nigeria is expected to slash daily oil supply to 1.41 million barrels per day (MMbpd) base on quota from the Organisation for Petroleum Exporting Countries.
The bulls tightened their grip on the Nigerian Stock Exchange, pushing it to positive territory on all trading days last week. It was a full week of bullish performance. Then, Unilever stock emerged as the best performing stock, gained 33.86% to close at ₦17.
Contributions to COVID-19 relief fund now ₦27.160 billion – CBN. The Nigeria Private Sector Coalition against COVID-19 (CACOVID), has so far contributed about N27.160 billion to help fight the coronavirus pandemic.