Nigeria | - Part 100

S&P may reduce Nigeria Credit Ratings

S&P may cuts Nigeria Credit RatingsStandard & Poor’s Ratings Services put Nigeria’s credit ratings on watch for potential downgrade following the fall in oil prices and continued political instability according to S&P’s analysts led by Ravi Bhatia wrote in the statement: “Political risks also remain significant”. Nigeria is the latest country that S&P has docked for reasons related to oil. Its BB-rating is three notches below investment-grade territory. In light of the months long oil slump,…

Elections in Nigeria: What businesses need to know

Posted on by The Editorial Team

High stakes elections in NigeriaAt the best of times, elections in Nigeria tend to be unsettling events accompanied by sporadic outbreaks of violence and rising inflation. Will the February 14 general elections be any different?Against the backdrop of slumping oil prices, Boko Haram’s worsening insurgency, and the rising chasm between north and south, the upcoming elections risk derailing Nigeria from its positive growth trajectory. However, the world should not underestimate Nigeria’s ability to muddle through…

Nigerian Equity: When and What to Buy/Sell

Posted on by The Editorial Team

The Nigerian Stock Exchange, Lagos, Nigeria The markets are strongly correlated to global crude oil prices and explains the sustained sell-off we have witnessed in the markets. Crude oil accounts for 75% of the country’s revenue and 95% of foreign exchange. With prices falling, reserves are under pressure and the ability of the CBN to continue to stabilize the naira is at risk. The capital markets are largely driven by foreign portfolio investors who account…

Nigerian Equity Market Reacts to Heightened Political Uncertainty: 9 Feb 2015

Posted on by The Editorial Team

Equity Market Reacts to Heightened Political Uncertainty… ASI Slumps 208bps The Nigerian Bourse expectedly experienced sell-down pressure today as investor sentiment weakened. This is premised on the heightened uncertainties surrounding the socio-political environment due to the postponement of the 2015 general elections announced over the weekend. Against this backdrop, the All Share Index (ASI) declined 208bps on the first trading day of the week to close at 29,360.55 points, pushing the YTD losses to 15.3%….

The Bears Resurface in Nigerian Equities: 5 February 2015

Posted on by The Editorial Team

Nigeria Daily Stock Market Report | The Bears Resurface¦ NSE ASI loses 136bps: 5th February 2015After three consecutive days of bullish run, there was a reversal in the market as the benchmark index lost136bps to close at 30,200.97 points as market capitalisation also lost N121.4tn settling at N10.1tn. Today’s decline in index was driven majorly by losses in large cap stocks — Dangote Cement (1.9%), Nigerian Breweries (3.0%) and Guaranty (3.0%). On the other hand,…

Nigerian Bourse: Foreign transactions rose by 47.68% in 2014

Posted on by The Editorial Team

The Nigerian Stock Exchange released its December 2014 Domestic and Foreign Portfolio Participation in Equity trading. Total transactions at the nation’s bourse increased by 41.83% from N181.97 billion recorded in January to N258.08 billion (about $1.54 billion) in December 2014. This represents an increase of 28.53% from N200.8 billion recorded in November. Total foreign transactions increased by 47.68% from N1,042.04 billion recorded at the end of 2013 to N1,538.92 billion at the end of 2014 while total…

Nigeria to borrow N90billion in bonds

Posted on by The Editorial Team

Nigeria plans to raise 90 billion naira ($475 mln) in sovereign bonds with maturities ranging between five and 20 years at its next regular auction on Feb. 11, the Debt Management Office (DMO) said on Tuesday.The debt office said it will auction 35 billion naira worth of the 5-year bond, 30 billion naira of the 10-year paper and 25 billion of the 20-year debt note, using the Dutch Auction System. The 5-year debt note is…

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