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Previous Daily Monitors

Thursday, 27/11/2014

Monday, 01/12/2014

Tuesday, 02/12/2014

Wednesday, 03/12/2014

 

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Thursday, December 04 today 2014

 

|Economy|
FG Reviews Oil Benchmark to $65/bl, Resubmits MTEF: Barely two weeks after it revised the 2015 budget oil benchmark price from $78 to $73, the Federal Government has again resubmitted the 2015-2017 Medium Term Expenditure Framework (MTEF) with a revised oil benchmark of $65 a barrel, effectively slashing next year’s budget by another 12 percent, in the face of dwindling oil prices. The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, who disclosed the second revision of the 2015 budget benchmark, explained that the new benchmark price of $65 per barrel had been approved by President Goodluck Jonathan and a revised expenditure framework for the next three years was resubmitted on Wednesday to the parliament for its approval. Source: Thisday

Germany Approves N34.6bn Credit For Nigeria’s Power Sector: The German Development Bank-KFW has earmarked about N34.6bn for the advancement of renewable energy, energy efficiency projects and technical assistance for the Nigerian power sector. Specifically, the German bank allocated $200m in form of Green Credit Line as support base for Small and Medium Enterprises to develop renewable energy and energy efficiency programmes. It also stated that another facility worth €5m (US$6.14bn) had been set aside for technical assistance through the KFW. Source: Punch

Foreign Reserves Fall To Six-month Low Of $36.7 Bn: Nigeria’s foreign reserves fell to a six-month low of $36.7 billion by December 1, down 4.5 percent from the previous month as the central bank stepped up its defence of the Naira, according to Foreign Reserves data on the CBN Website. The reserves stood at the same level in June this year and were down from $38.45 billion on Nov. 2, the data showed on Wednesday. The Naira has fallen 11.3 percent against the Dollar this year, including an 8 percent one-off devaluation by the central bank last week, as global oil prices plunged. Source: Businessday

FG Approves N430bn For 17 Roads Nationwide: The Federal Government yesterday approved over N430 billion for the construction and rehabilitation of 17 roads and bridges (Categories A and B) in the first batch of roads and bridges projects across the country. This is said to be in furtherance to the strategic Highways Investments for Transformation (SHIFT) embarked upon by the President Goodluck Jonathan administration since 2011. Minister of works, Mr Mike Onolememen, who gave the hint after the weekly Federal Executive Council (FEC) disclosed that, the 17 roads meant for construction/rehabilitation are spread across the country including Borno, Yobe, Gombe, Rivers, Bayelsa, Delta, Enugu, Nassarawa, Abia, Niger, Kogi, Cross River, Lagos and Kaduna States. Source: Leadership

THE NIGERIAN STOCK EXCHANGE
 
Current
Previous
% Change
All Share Index

33,255.67

33,550.73

(0.88)
Market Cap. (NGN'tn)
10.98
11.07
(0.81)
Market Cap. (US$'bn)
65.36
65.89
(0.81)
Value Traded (NGN'bn)
4.79
4.58
4.59
Volume Traded (#'bn)
258.75
218.66
18.33
Number of Deals (#)
3,965
4,676
(15.21)
Top Gainers
% Change
Top Losers
 
PZ
10.24
CUSTODIAN
(8.41)
ETERNA
4.79
CUTIX
(4.73)
SKYEBANK
4.64
RTBRISCOE
(4.71)
EVANSMED
4.52
INTBREW
(3.81)
CBN - WDAS (US$'mn)
 
Current
Previous
(%) Change
Amount Offered
200.00
200.00
(0.00)
Amount Demanded
-
-
-
Amount Sold
169.99
166.99
(1.69)
CBN US$/NGN Rate
168.00
168.00
(0.00)
CBN €/NGN Rate
208.99
209.28
0.00
CBN £/NGN Rate
263.37
263.86
0.00
Sovereign Debt Yields (T-Bills & Bonds)
Tenor
Current
Previous
Last 30 Days
3M
14.34
14.13
11.78
3Y
13.65
13.77
13.05
5Y
13.71
13.42
13.08
7Y
13.63
13.29
13.04
10Y
13.34
13.15
13.03
20Y
13.17
13.27
13.37
NIBOR (%)
Call
15.7900
13.6000
11.9900
30-Days
14.0100
13.7000
13.0100
90-Days
14.5100
14.2800
13.7700
180-Days
15.4200
15.2700
14.6600
CRUDE OIL (US$/Barrel)
Brent Crude
62.92
70.54
79.97
OPEC Basket
68.13
66.44
76.81
Bonny Light
71.56
78.46
82.34
* denotes delayed data as such data not released on daily basis ND denotes Not Disclosed

|Other News|
Winning Bidder Offers $252m For NITEL, M-tel: A Special Purpose Vehicle, NATCOM Consortium, on Wednesday has offered to pay $252.25m for the Nigerian Telecommunications Limited and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited. With no competitor, and with the offer meeting the reserve price set for the telecommunication companies, NATCOM stands as the potential core investor in the beleaguered public telecommunications companies. At the first bid, NATCOM offered a bid of $221m which was said to be lower than the reserve price. It was therefore asked to reverse the bid and in the second round, it offered the winning bid of $252.25m. NATCOM is an SPV formed for the purpose of acquiring of NITEL and M-Tel. Source: Punch

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