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Following the weakness in global PMIs, and yesterday’s Chicago PMI collapse, US Markit Manufacturing PMI dropped to cycle lows at 51.3 from 52.5 (very slightly better than expectations of 51.2) with job growth at 5-month lows, production at slowest in 28 months, and work backlogs tumbling to the lowest since Sept 2009. Then ISM Manufacturing […]Read More

A little girl and an elderly woman sit by a UNHCR (United Nation Refugee Agency) tent in the refugee camp of Minawao, on the border of Nigeria at the extreme north of Cameroon, on March 29, 2014. Around 2.500 Nigerian refugees, Christian and Muslims, found shelter in the camp after fleeing the fighting between the […]

The stock of Indigenous Nigerian oil and gas firm Seplat Petroleum Development Corporation has risen a whopping 127 percent since Januar7 18, 2016 (see Fig. 1).Fig 1: Seplat in Powerful Rally (one year chart) Source: BloombergHowever is this a good time to buy for those who have been on the sidelines?Catalyst for rally Seplat released […]

Minister of Communications, Adebayo Shittu, through his Special Assistant on Media, Victor Oluwadamilare has debunked the plans by the Federal Government to privatise the Nigeria Postal Service, or lease it to foreigners. Shittu said, “In putting the records straight, the government of the day has no plan whatsoever to either privatise NIPOST or hand it […]

Nigeria risk more blackouts than it is experiencing at the moment as currency restrictions imposed by the Central Bank is threatening the existence of power companies that are unable to buy spare parts to meet routine maintenance. Many distribution companies (DISCOS) also say if the capital control continues, they may be forced to halt operations and […]

Minister of Transport, Rotimi Amaechi, has said that the Federal Government is not satisfied with the performance of the Nigeria Maritime Administration and Safety Agency (NIMASA) as well as seaports across the country. He also added that the government would work hard to make NIMASA and the seaports more efficient. Amaechi revealed this when he […]

Audited results for the year ended 31st December 2015 Dividend up 33% to ₦8.0 per share; price reduction drives strong Q4 recovery in Nigerian market; strong performances in all new territories prove success of expansion plan; strong cash generation funds capex and dividend, reduces net debt to 0.78x EBITDA Lagos, 1st March 2016: Dangote Cement […]

International Energy Insurance (IEI) has notified the Nigerian Stock Exchange (NSE) of the removal of some Directors of the company. The Chief Executive Officer, Mrs. Roseline Ekeng and the company secretary, Mr. Paul Ekpenisi were advised to proceed on compulsory leave while Mr. Peter Irene and the firm of H.Michael & co represented by Mr. […]

Germany has emerged the country with the most accepted passport in the world, meaning Germans have the potential for the greatest travel mobility in the world. According to the 2016 Visa Restrictions Index, the German passport allows holders to enter 177 out of 218 countries and territories without a visa. It’s a long list, but […]

Source: Sagaci Research The Nigerian Naira is 8 percent overvalued based on the cost of a bucket of Kentucky fried chicken (KFC) according to data from Sagaci Research. The gauge, whose compilers say it is inspired by The Economist Big Mac Index, measures a currency’s value on a purchasing power parity basis, using the cost […]

Nigerian stocks ended today’s trading on a positive as the All Share Index (ASI) was up 1.09% to close at 24,838.11, although this was lower than the 1.41% it closed yesterday to close at 24,570.73. The market was boosted by gains from TigerBrands, Oando, and Dangote Cement to name a few. Dangote Cement earlier released […]Read More

South African companies have reported a considerably higher frequency in the incidence of economic crime in comparison to their African and global peers, with more than two in three organisations (69%) indicating that they had been victim to economic crime in the last 24 months, according to PwC’s biennial Global Economic Crime Survey issued today. […]