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MONDAY 11/4/2022 – NIGERIA’S NON-OIL EXPORTS FALL BY 39%, DOLLAR SHORTAGE MAY WORSEN NIGERIA’S non-oil exports have fallen by 39 per cent from N6.914tn to N4.194tn in10 years, according to an analysis of the National Bureau of Statistics’ Foreign Trade Statistics by Financial PUNCH. Specifically, figures show that the N4.194tn non-oil exports recorded in 2021 is 39.34 per cent lower than the N6.914tn non-oil exports recorded in 2012. In 2012, Nigeria’s total exports amounted to N22.446tn. Out of this number, N15.531tn was crude oil export while N6.914tn was non-oil exports.  The non-oil exports comprised 30.8 per cent of the total exports that year. However, in 2021 the nation’s total exports were estimated at N19.057tn, with the non-oil segment occupying N4.194tn. The non-oil exports comprised 22.07 per cent of the total exports last year. The Financial PUNCH analysis of the National Bureau of Statistics’ Foreign Trade Statistics between 2012 and 2021 on Friday showed the levels of growth of the non-oil exports and the shares of its contribution to the nation’s total exports over the period. The data revealed that the non-oil exports’ share of total exports was highest at 30.8 per cent in 2012 and lowest at 11.86 per cent in 2015.   TUESDAY 12/4/2022 – NIGERIA, OTHERS AT RISK OF FINANCIAL WEAKNESS, MORE INFLATION – IMF THE International Monetary Fund has warned Nigeria and other low-income countries that high public and private borrowing will likely increase financial vulnerability and lead to more inflation. The IMF disclosed this in a new report titled, ‘Restructuring debt of poorer nations requires more efficient coordination.’ According to the Washington-based lender, the war in Ukraine is adding risks to unprecedented levels of public borrowing and the pandemic is still straining many government budgets. It said, “High public and private borrowing contribute to financial vulnerabilities, which are already concerning. The number of advanced economies with debt ratios larger than the size of their economy has increased significantly. “There is a risk that ever-higher levels of debt lead to a widening of interest rate spreads for countries with weaker fundamentals, making it costlier for them to borrow. Moreover, although inflation surprises may lower debt-to-GDP ratios in the short-run, persistent inflation—and inflation volatility—ultimately can raise the cost of borrowing. “This process can happen quickly in countries with short debt maturities.”   WEDNESDAY 13/4/2022 – Nine banks made N554bn fees, commission in 2021 –Reports NINE major Deposit Money Banks in Nigeria raked in the sum of N554.23bn from fees and commissions in 2021. This amount is 29.4 per cent higher than N428.32bn they made in 2020. The banks are Access Bank Plc, Zenith Bank Plc, Guaranty Trust Bank Limited, United Bank for Africa Plc, First City Monument Bank, Stanbic IBTC, Wema Bank, Sterling Bank, and Fidelity Bank Plc. The sum of N554.23bn was arrived at after aggregating the net fee and commission income contained in the banks’ annual financial statements ended December 31, 2021. Fees and commissions account for a significant percentage of non-interest income for banks and represent income from account maintenance fees, electronic banking fees, and other credit-related commissions. Net fee and commission income is the actual revenue generated from these charges after expenses incurred from providing the services have been deducted. Access Bank raked in a total of N118.56bn as against N93.57bn generated during the same period in 2020.   THURSDAY 14/4/2022 – STOCK MARKET GAINS N87BN IN BULLISH TRADING Investors gained N87bn on Wednesday at the end of trading on the floor of the Nigerian Exchange Limited. The market capitalisation of equities listed on the Nigerian Exchange Limited rose to N25.536tn on Wednesday from N25.449tn on Tuesday. The NGX All-Share Index also rose to 47,367.31 basis points from 47,205.03 basis points. Thirty one companies recorded gains at the end of trading on Wednesday, while 17 companies recorded loses. A total of 391.89 million shares valued at N 9.95bn were traded by investors in 5,419 deals. MEYER topped the gainers list after gaining 13 kobo as its share price rose by 9.56 per cent to close at N1.49. ikejahotel, caverton and ubn’s share price also rose by 9.24 per cent, 6.78 per cent and 6.56 per cent to close at N1.30, N1.26 and N6.50 respectively. sunuassur topped the loser’s list as its share price fell by 7.69 per cent to close at 36 kobo, while other top losers were sterlnbank, fgs202369 and unilever’s share prices fell by six per cent, 5.27 per cent and 4.51 per cent to close at N1.41, N90 and N12.70 per cent respectively.   FRIDAY 15/4/2022 – NGX DEFIES EASTER SELLOFF AS CAPITALISATION RISES FURTHER BY N77B Despite selloff ahead of the Easter celebrations, trading on the Nigerian stock market sustained five-day bullish trend to close in an upbeat yesterday, as market capitalisation increased further by N77 billion. At the closed of transactions yesterday on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) rose by 143.07 points, representing an increase of 0.30 per cent to close at 47,510.38 points, while the overall market capitalisation value gained N77 billion to close at N25.613 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; SFS Real Estate Investment Trust (SFSReit), Dangote Cement, Nigerian Breweries, Julius Berger and Berger Paints Nigeria. Analysts at Afrinvest Limited said: “Next week, we expect the market to close positive on improved sentiment.” Vetiva Dealings and Brokerage said: “Despite today’s profit taking in the banking sector, the NGXBNK closed as the week’s best performing sector with a 5.59 per cent gain. “We expect to see further profit taking in that space going into the new week amid this week’s record gain. We expect Q1 results of some companies to hit the market next week, and we anticipate this to drive market sentiments as well.”

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