Мобильный 1 Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021August 2021September 2021October 2021November 2021
News Every Day |

The Week Ahead


CBN’s 139th MPC meeting is to hold in the week ahead

The Central Bank of Nigeria‘s (CBN) quarterly MPC meeting is set to hold on the 21st-22nd of November 2021. The National Bureau of Statistics last week released data on Nigeria’s real GDP growth and Inflation. The release of the two lagging macroeconomic indicators sets the tone for deliberations at the forthcoming Monetary Policy Committee meeting.

Real GDP grew by +4.03% in the third quarter largely on the back of a 49.65% contribution from the services sector, where financial and insurance services recovering from a -2.48% contraction in Q2, to grow y-o-y by +23.23%.

Notably, Oil production dropped from 1.61mbpd in Q2 to1.57mbpd in the third quarter, resulting in a -10.56% decline in the output from the Mining Sector. Although, still being supported by the low base effect, the growth figures as well as those of Inflation which declined in October by 63basis points to 15.99% would disincline the MPC from altering its centrist stance.

NUPENG’s ultimatum spurs fuel scarcity scare in the week ahead

With NUPENG’s 14 day ultimatum to the Federal Government closing in and the chances of a Nationwide strike draws near, scares off a looming fuel scarcity fills the air in the week ahead.

Recall that NUPENG said it would call out its members on a nationwide industrial action if some legitimate welfare and membership-related issues were not conclusively addressed by the Federal government at the end of the 14 day period.

Read also: How CBN’s intervention saved power sector from collapse over liquidity crisis, by Experts

The union in the statement said the decision was reached during a special national delegates conference convened last Thursday, for reasons ranging from non-payment of workers’ salaries, title benefits, among other issues.

The union said despite the fact that these issues have been tabled before different government agencies/institutions and they have been resolved, the decisions remain unimplemented while their members keep suffering in excruciating jeopardy.

The Union’s statement read, “We write to convey to the public and all relevant government agencies the resolution of the Special National Delegates Conference to issue a 14-day notice of a nationwide industrial action if some legitimate welfare and membership related issues that have been variously resolved in our favour even by the Federal Ministry of Labour and Employment are not adequately and conclusively addressed and resolved within the next fourteen days.

“This ultimatum takes effect from Monday 15th November 2021.’’

Motorists and Automobile owners Nationwide should ensure that their gas tanks are filled to avoid any gas/fuel related inconveniences in the week ahead.



The NBS release calendar for the coming week indicates the following:

· Friday 26th November 2021: Nigerian Capital Importation (Q3 2021)

Oil prices rise on the back of investors’ concerns

Oil prices rose on Friday, after wild swings the day before, on investor concerns that potential coordinated releases by the world’s major economies of their official crude reserves to try to lower prices may have less of an impact than expected.

Crude oil prices however fell on Monday, under pressure from expectations of increasing supplies and a lower demand forecast amid higher energy costs.

A source at Morocco’s ONHYM has confirmed to S&P Global Platts that the government of Morocco is considering setting up a downstream division of the state-owned ONHYM to manage domestic natural gas infrastructure, which includes a project to deliver gas by pipeline from Nigeria to Morocco through 13 countries.

The COP26 climate change summit ended with a not too significant deal due to pressure from major coal consumers. The conference ended with the Glasgow Climate Pact, which includes stipulations for reducing subsidies for oil and gas, the phasing-down of coal consumption, and stipulation on increasing financial support for developing country Parties beyond the $100 billion per year of the Paris Agreement. Brent had a weekly decline of -5.09%

In the coming week, oil prices are expected to be bearish on the resurgent pandemic in Europe.

Currency Market

The Naira started the previous week on a quiet note, closing flat against the US dollar for most of the trading session at the I & E FX window.

The Naira closed at N414.10/US$ on Friday, indicating a week-on-week (W-on-W) appreciation of the Naira. At the Nigerian Autonomous Foreign Exchange Fixing (NAFEX) window it also depreciated by -0.17%.

More of the same is expected in the week ahead as the Naira is anticipated to continue to hover around N410/$1-N415/$1 threshold in the NAFEX window.

Money Market

System liquidity was relatively elevated for most of last week, but rates traded at double-digit trend.

At the close of the trading on Friday, open buy-back (OBB) and overnight rates (O/N) settled at 19.00% and 20.00% respectively indicating a W-o-W rise of +31.03% and +31.15% for OBB and O/N.

We expect rates to hover around current levels barring any inflows from the Apex bank in the week ahead.

Treasury Bills Market

The treasury bills market started the previous week on a quiet note, but activity picked up later into the mid-week.

At the close of trading on Friday, the market was bullish with selling interest seen across all maturities. Average benchmark yield for T. Bills fell by -1.62%, yields on OMO bills fell by -2.48% while yields on CBN’s special bills dipped by -1.02%

We expect activity next week to be dictated by the market liquidity situation.


The local bond market sustained a mixed sentiment last week, with most of the selling concentrated at the mid-end of the curve.

At the close of trading on Friday, the market closed on a mixed note. Overall average benchmark yields closed at 8.44% indicating a W-on-W rise of +1.53%.

The Eurobond market started the week on a relatively bullish note, as attractive yield levels trigger some interests which were not sustained throughout the week.

At the close of trading on Friday, average benchmark yields settled at 6.69% indicating a W-on-W increase of +1.36%.

Market sentiment is expected to be mixed as inflation concerns dampen.

Nigerian Capital Market

Activity on the local bourse last week was bearish with sell pressure seen across several stocks. The NGXASI dipped by -0.12%. Investors lost N28.05bn, year-to-date return moderated to +7.27%, while the market capitalization settled at N22.54trillion.

The volume of shares traded on the exchange last week dipped by -5.37% while the values of shares advanced by 33.17%.

Sectoral performance across sectors tracked was bearish last week as all sectors closed negative. NGX-IND, NGX Insurance, NGX Consumer Goods, NGX Banking, and NGX Oil & Gas closed negative with -0.10%, -0.47%, -1.41% and, -1.60% and -3.63% respectively.

Market breadth for the week closed negative with 15 gainers led by VITAFOAM and ETRANZACT as against 49 losers led by CUTIX and NGXGROUP.

In the coming week, we expect the possibility of bargain hunting as investors look to take advantage of the result season. However, press releases from listed companies and other macroeconomic developments are also likely to impact investors’ decisions.

In addition, we expect investors to monitor the movement of yields in the fixed income market.

Read also

Best & Worst PC Cases of 2021

Victor Osimhen’s eye came out of its SOCKET and Napoli star needed six plates and eighteen screws after horror injury

Sajid Javid announcement: What time is the health secretary’s speech, Monday, November, 29?

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Triller Triad Combat: Pulev vs. Mir live stream, results, and discussion

Today24.pro — latest news 24/7. You can add your news instantly now — here

News Every Day

Insurtech Market Revenue Growth Defined by Heightened Product Innovation

Sports today

Новости тенниса
Михаил Кукушкин

«Я был заряжен на борьбу». Михаил Кукушкин о победе над Шнуром в матче Кубка Дэвиса Канада – Казахстан

Спорт в России и мире

МВД заявило, что стадион «ВЭБ Арена» не соответствовал требованиям безопасности


All sports news today


Sports in Russia today

Полиция составила более 50 протоколов после матча ЦСКА – «Зенит» в Москве

Новости России

Game News

Get this budget gaming monitor for £45 off


Политолог Корнилов увидел в словах Зеленского официальное объявление войны России

Губернаторы России

Футбольные фанаты после матча ЦСКА – «Зенит» задержаны за хулиганство

Кедми назвал США инициаторами информационной истерии о «вторжении» России на Украину

В России снова выявили больше 33 тысяч новых случаев COVID-19 за сутки

«Хотели встретиться и обсудить «Спартак»: Губерниев рассказал о последнем разговоре с Градским

Помещение для бизнеса: купить или арендовать – вот в чем вопрос

Саксофонист Игорь Бутман рассказал о музыкальных предпочтениях Путина

Пианистку из Нижнего Новгорода называют продолжательницей творчества композитора Листа

В Петербурге 150-летию со дня рождения Рахманинова посветят турмаршрут и фестиваль

Волочкова озвучила гонорары за интим и представила жениха из РЖД

Джокович не спас сборную Сербии от поражения немцам в Кубке Дэвиса

«Мы понимали всю ответственность». Александр Недовесов – о победе в парной игре в матче Кубка Дэвиса Казахстан – Швеция

Дэниэл Эванс: "Кубок Дэвиса" существует ради командной работы, а не ради рейтинга

Норвегия – Украина. Кубок Дэвиса. Текстовая трансляция

Полиция составила более 50 протоколов после матча ЦСКА – «Зенит» в Москве

Футбольные фанаты после матча ЦСКА – «Зенит» задержаны за хулиганство

Что Будет с Вашим Телом Если Принимать Креатин Постоянно

Лукашенко заявил, что Минск не бряцает оружием

Транспорт, бизнес, благоустройство: Собянин рассказал о достижениях Москвы

Баранец: РСЗО «Торнадо-Г» превосходит предшественников по дальности и точности стрельбы

Горожанам рассказали о повышении пенсий

За сутки в России выявили 33 548 новых случаев коронавируса

Путин в России и мире

Персональные новости

Людмила Тужикова

Профилактика коррупции: теоретический и практический аспекты

News Every Day

Triller Triad Combat: Pulev vs. Mir live stream, results, and discussion

Friends of Today24

Музыкальные новости
"Воскресенье " Олег Митяев

Персональные новости
Близкий друг Путина миллиардер Пугачев. Вся правда о Путине, его семье и деньгах. В гостях у Гордона (2021)

Навальный об уволенном за пост священнике (2021)

Slava Marlow – суперуспех и депрессия в 21 год / вДудь (2021)

Обнаглевшие дети путинской элиты (2021)

Дайте собакам мяса (новый звук) -Владимир Высоцкий

Группа "Рождество" - песня "Так хочется жить!" (Видео с концерта в Киеве группы "РОЖДЕСТВО" в 2011 году в Доме офицеров)

Adriano Celentano Любимая песня Челентано (высочайшая энергетика) talentTV