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Tuesday, January 20 today 2015 |
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| |Economy|
FG Targets US$68.1bn Fresh FDI from 8 Free Zones: The Federal Government is targeting $68.1bn fresh Foreign Direct Investment from eight newly licensed free zones. The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Olugbenga Kuye disclosed that, based on the new checklist and methodology put in place for assessing Free Zone requests, the President approved the following: Centenary City Free Zone (Business and Tourism Destination), with expected investment of about $18bn; Ogogoro Industrial Park, Lagos (oil and gas activities) $160m; the Nigeria International Commerce City, Lagos, (formerly Eko Atlantic City) $38bn; Badagry Creek Industrial Park, Lagos, $1.3bn; Nigeria Aviation Handling Company (NAHCO) Free Zone, $25.5m; Dangote Refinery/ Petrochemical Park, $9bn; Lekki Deep Sea Port (under Lagos Free Trade Zone) $1.4bn; and Samsung Heavy Industries and Mega Construction Integrated FZE (under LADOL Free Zone), $300m. Source: Thisday
FG Releases New Conditions for Coal Blocks Licensing: Potential licencees willing to engage in the mining of coal across coal belts in Nigeria are now required to possess bankable and tenable coal-fired power plant to qualify for the award of coal mining licences. Minister of Power, Prof. Chinedu Nebo stated that the new condition was embedded to encourage coal prospectors to develop and run power plants using coal from the blocks they will develop and mine in Nigeria. According to him, Nigeria with her huge coal deposits across three key belts; Gombe, Kogi and Enugu, would through the new condition, renew her policy thrust in coal to power to ensure a robust fuel mix for power generation, starting from 2015. Source: Thisday
Naira Hits Record Low: The Naira hit a record low against the Dollar on Monday as the Central Bank of Nigeria’s Monetary Policy Committee commenced its two-day meeting in Abuja. The Naira, which has been depreciated as a result of the decline in oil prices, fell 3.6 per cent to a record low of 191.85 before recovering some ground after the central bank, two banks and an energy firm sold Dollars, according to dealers. However, it still booked its weakest close on record at N187.10 to the dollar. Source: Punch |
| |Oil & Gas|
SEPLAT Gets January 30 Deadline for Takeover of Afren: As the initial January 19 deadline given to SEPLAT Petroleum Development Company, to indicate whether or not it intends to make a firm offer for the takeover of the United Kingdom-listed Afren Plc, expired on Monday, the company has received an extension to the deadline. Seplat confirmed earlier this month that it had made a preliminary approach to take over Afren and that it had issued a January 19 deadline to firm up the deal. But Afren has extended the deadline to January 30 for SEPLAT to either announce a firm intention to make an offer for Afren or announce that it does not intend to make an offer for Afren. Source: Thisday |
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| THE NIGERIAN STOCK EXCHANGE |
| |
Current |
Previous |
% Change |
| All Share Index |
|
|
2.54 |
| Market Cap. (NGN'tn) |
9.91 |
9.67 |
|
| Market Cap. (US$'bn) |
58.99 |
57.56 |
|
| Value Traded N'bn) |
3.42 |
2.87 |
19.16 |
| Volume Traded (#'bn) |
426.24 |
261.31 |
63.12 |
| Number of Deals (#) |
4,391 |
4,030 |
8.96 |
|
| Top Gainers |
% Change |
Top Losers |
% Change |
| GUARANTY |
9.94 |
UPL |
(9.72) |
| NEM |
7.55 |
CADBURY |
(5.00) |
| NB |
|
CHAMPION |
(4.92) |
| WAPCO |
5.00 |
RTBRISCOE |
(4.76) |
|
| CBN - WDAS (US$'mn) |
| |
Current |
Previous |
(%) Change |
| Amount Offered |
200.00 |
200.00 |
|
| Amount Demanded |
- |
- |
- |
| Amount Sold |
|
|
(0.22) |
| CBN US$/NGN Rate |
168.00 |
168.00 |
0.00 |
| CBN €/NGN Rate |
194.64 |
197.48 |
1.44 |
| CBN £/NGN Rate |
255.34 |
255.22 |
(0.05) |
|
| Sovereign Debt Yields (T-Bills & Bonds) |
| Tenor |
Current |
Previous |
Last 30 Days |
| 3M |
11.67 |
11.71 |
13.40 |
| 3Y |
15.30 |
15.68 |
14.85 |
| 5Y |
15.41 |
15.72 |
14.86 |
| 7Y |
15.46 |
15.86 |
14.84 |
| 10Y |
15.51 |
15.57 |
14.70 |
| 20Y |
14.83 |
14.53 |
14.25 |
|
| NIBOR (%) |
| Call |
10.1600 |
9.4100 |
21.3900 |
| 30-Days |
|
|
15.1100 |
| 90-Days |
14.3800 |
14.2600 |
15.5500 |
| 180-Days |
15.6900 |
15.6800 |
16.3500 |
|
| CRUDE OIL (US$/Barrel) |
| Brent Crude |
48.88 |
48.25 |
56.36 |
| OPEC Basket |
43.40 |
43.14 |
53.71 |
| Bonny Light |
49.80 |
46.75 |
58.15 |
|
|
* denotes delayed data as such data not released on daily basis
ND denotes Not Disclosed |
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|
|Other News|
Top Stocks Lift NSE Index by 2.54%: Gains by highly capitalised stocks lifted the equities segment of the Nigerian Stock Exchange and opened the week on a positive note. Bargain hunting outweighed selling pressure on Monday leading to the gains, which appreciated the NSE All-Share Index by 738.51 basis points or 2.54 per cent from 29,034.89 basis points to 29,773.40 basis points. Also, the market capitalisation of the listed equities rose by 2.54 per cent or N246bn to N9.917tn, as against the 0.78 per cent rise it recorded on Friday to close at N9.671tn. Source: Punch |
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