Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... FTNCOCOA 10.00  REGALINS 8.70  PRESTIGE 8.33  REDSTAREX 5.88  CAVERTON 3.96  NAHCO 3.07  LINKASSURE 1.96  NGXGROUP 1.25  ZENITHBANK 1.15  UBA 0.72  NEM -9.98  OKOMUOIL -9.96  UPL -9.91  LASACO -9.57  MULTIVERSE -8.70  CADBURY -8.05  RTBRISCOE -7.89  CUTIX -6.98  ETERNA -5.57  PZ -5.56 
Coronation Research Daily Insights
(Source: Coronation Research, Date: 05-Aug-2022)

FRIDAY, 05 AUGUST 2022

World Bank | Capital Outflows | Telecom Excise Duty | Cocoa Board | Badagry Deep Seaport

Good morning,

Here are your top 5 news items for the day.

World Bank


W'Bank commits $8.5bn to Nigeria, faults N6.7tn subsidy"" Punch

The World Bank has committed $8.5 billion to Nigeria to fund critical issues ranging from agriculture to education. Disclosing this on Thursday in Abuja during a summit organised by the Emergency Coordination Center, the World Bank Country Director to Nigeria, Shubham Chaudhuri, noted that the amount was the largest of any country. He noted that it was still infinitesimal compared with the needs of Nigeria, stressing, however, that around $2.5 billion to $3 billion of the fund had been channelled towards education.... Half of the population of Nigeria itself is less than 17 years old. This means there is a need to invest in human capital development," he said. He noted that the future of Nigeria depended  on the ability of the young people to go to school , stressing that it was important to make schools safe to ensure that fewer children were out of school. Read more at W'Bank commits $8.5bn to Nigeria, faults N6.7tn subsidy (punchng.com).


Capital Outflows


IMF pegs capital outflows from Nigeria, other emerging markets at $50b "" Guardian
The International Monetary Fund (IMF) estimated the volume of capital that has left emerging markets, including Nigeria, following the ongoing interest rate cycle at $50 billion. It linked the flight, which it described as a slower version of the March 2020 occurrence, to monetary tightening (MT) by central banks of developed countries. Led by the Federal Reserve System, central banks across the globe have joined rate-raising mania to stem high inflation. The Fed has increased interest rates four times this year, two of which were 75 basis points (bps) imposed back-to-back. The monetary authorities are also winding down their stimulus packages, most of which were deployed to mitigate the impacts of COVID-19 pandemics. The Fed had its balance sheet expanded by about 100 per cent as it threw money into the COVID-19 disruption. The monetary easing (ME) helped the global economy to survive the COVID-19 locked down with a manageable slump but triggered inflation growth not seen in about decades. Read more at IMF pegs capital outflows from Nigeria, other emerging markets at $50b "” Business "” The Guardian Nigeria News "" Nigeria and World News.


Telecom Excise Duty


FG to generate N160bn from call, data taxes"" Punch
The Federal Government will generate about N160.46bn from excise duty on telecommunication services in 2023.According to the Nigerian Communications Commission, the combined revenue of operators in the GSM, Fixed Wired, and Internet Service Providers was N3.21tn in 2021. If the government implements its five per cent excise duty on telecom services, it will generate about N160.46bn.The amount, however, assumes that the revenue of the telcos would be static. But in real terms, it could either be higher or lower depending on economic fundamentals in 2022.Recently, the Federal Government disclosed a plan to implement a 5 per cent excise duty on telecom services in the nation.This was revealed by the Minister of Finance Budget and National Planning, Zainab Ahmed, during a stakeholders' forum on the implementation of excise duty on telecommunications services in Nigeria.Ahmed, who spoke through the Assistant Chief Officer of the Ministry, Mr Frank Oshanipin, said the implementation of the excise duty was in a bid to increase the government's revenue." Read more at FG to generate N160bn from call, data taxes (punchng.com).


Cocoa Board


FG to re-establish cocoa board, improve farmers' earnings"" Guardian
The Federal Government yesterday inaugurated the National Cocoa Management Committee (NCMC) to see to the re-establishment of the Nigeria Cocoa Board and also ensure Cocoa farmers benefit from the Living Income Differential (LID) of $400 per tonne to improve their living standards. Cocoa exporters in Ghana and Cote d'Ivoire have been enjoying the LID introduced by the two countries as a premium on their cocoa and as a tool to complement the prices of the cash crop in the international market. Unconfirmed reports have it that exporters have been taking cocoa of Nigerian origin to either Ghana or Cote d'Ivoire for them to enjoy the $400 per ton LDI premium. Inaugurating the Cocoa Management Committee in Abuja, the Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar stated that the purpose of the committee is to work out modalities for Nigerian cocoa farmers to start benefiting from this initiative like their counterparts in Ghana and Cote d' Ivoire ports. Read more at FG to re-establish cocoa board, improve farmers' earnings "” Business "” The Guardian Nigeria News "" Nigeria and World News.


Badagry Deep Seaport


NPA gets FEC approval for Badagry Deep Seaport"" Sun
The Nigerian Ports Authority  (NPA) through the Federal Ministry of Transportation has secured the nod of the Federal Executive Council for the construction of Badagry Deep Seaport Project. This is coming on the heels of the receipt earlier this year of the Full Business Case Compliance Certificate on the Badagry Deep Seaport and the Modular Floating Dockyard from the Infrastructure Concession Regulatory Commission (ICRC). The project which is to be developed in four (4) phases through Build Own Operate and Transfer (BOOT) Public Private Partnership (PPP) model is a full-scale Greenfield Commercial Deep Seaport conceived to augment Nigeria's existing port capacity and open new vistas for trade facilitation. In addition to augmenting the existing port capacity and alleviating traffic congestion in the Lagos ports, the Badagry Deep Seaport project is expected to improve availability of modern port facilities and quality services, provide value for money to government by easing the pressure on national budget by transferring huge investment required for port infrastructural development and operations to the private sector while boosting revenue, accelerate Nigerian economic prosperity and propel economic empowerment of Nigerians through reduced transportation cost  and seamless logistics for the attainment of hub status. Read more at NPA gets FEC approval for Badagry Deep Seaport "" The Sun Nigeria (sunnewsonline.com).

 

Subscribe to Coronation Research Daily Insights

Subscribe Here

 

You are receiving this email because you are a valued customer of Coronation Asset Management.

Information used in the preparation of this publication is believed to be accurate at the time of going to press, though not verified independently. No liability is accepted for errors nor omissions of fact, nor is any warranty given for the reasonableness, accuracy or completeness of the information presented. Neither Coronation Asset Management, nor its directors, employees and contractors accept(s) responsibility for losses or opportunity costs, whether direct or consequential, that may be incurred as a result of trading, or not trading, on information covered in this publication, or other securities, as a result of any decision taken after reading this publication.

 

 

For further enquiries, please contact  cec@coronationam.com 

Coronation Asset Management, 10 Amodu Ojikutu Street, Off Saka Tinubu Street Victoria Island, Lagos, Nigeria

Copyright © 2022, All rights reserved.

 

 

Top News

Chart Of The Day - ASI Chart Vs ASI Advance Decline Line (YTD) (18-Aug-2022 15:08:35.175)

INFOWARE TERMINAL
18-Aug-2022 15:08:35.000

InfoWARE Analyst Daily Market Report (18-Aug-2022 15:08:30.178)

INFOWARE TERMINAL
18-Aug-2022 15:08:30.000

Breaking News! Unusual Volume Alert (18-Aug-2022 14:08:17.870)

INFOWARE TERMINAL
18-Aug-2022 14:08:17.000

Breaking News! Unusual Volume Alert (18-Aug-2022 13:38:16.653)

INFOWARE TERMINAL
18-Aug-2022 13:38:16.000

Breaking News! Bulls Momentum Alert (18-Aug-2022 13:38:16.058)

INFOWARE TERMINAL
18-Aug-2022 13:38:16.000

Breaking News! Bears Momentum Alert (18-Aug-2022 13:38:15.969)

INFOWARE TERMINAL
18-Aug-2022 13:38:15.000

[XNSA]>> CORAL FUNDS BID AND OFFER PRICES

NGX
18-Aug-2022 12:30:52.000

Breaking News! Bears Momentum Alert (18-Aug-2022 13:08:15.949)

INFOWARE TERMINAL
18-Aug-2022 13:08:15.000

Breaking News! Unusual Volume Alert (18-Aug-2022 12:38:16.096)

INFOWARE TERMINAL
18-Aug-2022 12:38:16.000

Breaking News! Bears Momentum Alert (18-Aug-2022 12:38:15.448)

INFOWARE TERMINAL
18-Aug-2022 12:38:15.000

[LOTUSHAL15]>> DAILY INDICATIVE PRICES

NGX
18-Aug-2022 11:18:01.000

Breaking News! Unusual Volume Alert (18-Aug-2022 12:08:16.511)

INFOWARE TERMINAL
18-Aug-2022 12:08:16.000

Breaking News! Bears Momentum Alert (18-Aug-2022 12:08:15.810)

INFOWARE TERMINAL
18-Aug-2022 12:08:15.000

[XNSA]>> THE FRONTIER FUND MEMORANDUM QUOTATION

NGX
18-Aug-2022 11:04:54.000

[XNSA]>> DAILY FUND PRICE SUBMISSION - FCMB ASSET MANAGEMENT LIMITED

NGX
18-Aug-2022 10:43:34.000

Breaking News! Bears Momentum Alert (18-Aug-2022 11:38:15.730)

INFOWARE TERMINAL
18-Aug-2022 11:38:15.000

Breaking News! Bulls Momentum Alert (18-Aug-2022 11:08:15.578)

INFOWARE TERMINAL
18-Aug-2022 11:08:15.000

[XNSA]>> CORDROS MILESTONE FUNDS' BID & OFFER PRICES

NGX
18-Aug-2022 09:40:16.000

Breaking News! Unusual Volume Alert (18-Aug-2022 10:38:16.583)

INFOWARE TERMINAL
18-Aug-2022 10:38:16.000

[MERGROWTH]>> DAILY INDICATIVE PRICES

NGX
18-Aug-2022 09:26:04.000

[VSPBONDETF]>> DAILY INDICATIVE PRICES

NGX
18-Aug-2022 09:19:58.000

[SIAMLETF40]>> DAILY INDICATIVE PRICES

NGX
18-Aug-2022 09:19:57.000

[STANBICETF30]>> DAILY INDICATIVE PRICES

NGX
18-Aug-2022 09:19:57.000

Breaking News! Bears Momentum Alert (18-Aug-2022 10:08:15.764)

INFOWARE TERMINAL
18-Aug-2022 10:08:15.000

Media Highlights 18-08-2022

CARDINALSTONE RESEARCH
18-Aug-2022 08:05:57.000

Market Performance Report, 17th August 2022

GLOBALVIEW CAPITAL LIMITED
17-Aug-2022 00:00:00.000

Coronation Daily Market Wrap - 17 August 2022

CARDINALSTONE RESEARCH
17-Aug-2022 07:54:14.000

Chart Of The Day - ASI Chart Vs ASI Advance Decline Line (YTD) (17-Aug-2022 15:08:48.942)

INFOWARE TERMINAL
17-Aug-2022 15:08:48.000

InfoWARE Analyst Daily Market Report (17-Aug-2022 15:08:34.028)

INFOWARE TERMINAL
17-Aug-2022 15:08:34.000

Breaking News! Unusual Volume Alert (17-Aug-2022 14:08:17.315)

INFOWARE TERMINAL
17-Aug-2022 14:08:17.000
Get InfoWARE Finance App
Company
Contacts
  • AIICO Plaza (1st Floor) Plot 12, Churchgate Street, Victoria Island, Lagos
  • Email: solutions@infowarelimited.com
Follow Us
 
facebook twitter skype youtube
Market data may be delayed up to 15 minutes