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Tag: 2020

BREAKING: Nigerian equities records N6.48trn gain in 2020
Amid the COVID-19 pandemic and economic recession, Nigerian equities played the full contrarian to close 2020 with net capital gain of N6.48 trillion.
While the details of global market closing positions are being awaited, there are indications that Nigeria may lead the global return table within the group of tracked, regulated global markets.
Benchmark indices at the Nigerian Stock Exchange (NSE) showed average full-year return of 50.03 per cent by the sound of the last closing gong for the 2020 business year. This implies net capital gain of N6.483 trillion. The recent highest return was 42.3 per cent recorded in 2017.
The All Share Index (ASI)- the value-based common index that tracks all share prices at the Nigerian Stock Exchange (NSE) closed 2020 at 40,270.72 points, 50.03 per cent above 26,842.07 points recorded as opening index for the year.
Aggregate market value of all quoted equities at the NSE rose to N21.057 trillion as against N12.958 trillion recorded as opening value for the year, an increase of N8.1 trillion. The additional increase in value of market capitalisation, above the ASI percentage change, was due to additional or supplementary listing of shares during the year.

Through the lockdowns and disruptions occasioned by COVID-19 pandemic, and later the unrests due to protests against police highhandedness, the stock market braced the odds of hyperinflation and economic recession to sustain and build up attractive return since the second quarter.
While a steep decline of 18.75 per cent in March 2020 had driven the first quarter to a negative return of -20.7 per cent or net loss of N2.68 trillion, the market recovered in the second quarter with positive average return of 14.12 per cent or net capital gains of N1.656 trillion. It continued its rally with average return of 9.61 per cent or net capital gains of N1.23 trillion in third quarter 2020.
The 2020 recovery is particularly spectacular when viewed against the background of negative performance in recent years. After posting a world-ranking return of 42.3 per cent in 2017, the market had reversed to negative in 2018 with average full-year return of -17.81 per cent. In 2019, investors suffered net loss of about N1.71 trillion with negative average return of -14.60 per cent. Prior to 2017, the stock market had been on a losing streak since 2014. Investors lost N1.75 trillion in 2014 and followed this with another loss of N1.63 trillion in 2015. Against the general expectation that political transition and new government will quicken a rebound, equities closed 2016 with a net capital loss of N604 billion.
With inflation rate at 14.89 per cent, yield or coupon or interest rate at the fixed-income market ranging from less than one per cent to a little above one per cent for one-year instrument to some seven per cent annual coupon for two decades and a half instrument, Nigerian equities’ return is the most attractive and the only positive-yielding return in 2020, even when adjusted for inflation and cost of capital.
December 31, 2020
2020: CIBN boss says Nigeria’s economic growth may not be up to 3%
Dr Uche Olowu, the President of the Chartered Institute of Bankers of Nigeria (CIBN), on Thursday said Nigeria’s economy, in 2020, might record a gradual growth in its Gross Domestic Product (GDP) that would not be up to three per cent.
Olowu, said this at a forum on 2020 Economic Outlook, organised by the Finance Correspondents Association of Nigeria (FICAN), in conjunction with Polaris Bank, in Lagos.
He said the Nigeria’s GDP growth rate might increase from the present 2.4 per cent to 2.6 per cent.
The forum also reviewed the economic activities and policies in 2019, as well as its implementation and impact on people and the country in general.
Olowu said that inflationary pressure might also continue as a result of the approval and implementation of the new minimum wage which could lead to increase in consumer spending.
He, therefore, called on the federal government to allow the private sector to participate more in the national development.
According to him, the public sector alone can not provide the growth needed.
Olowu said: ” The only way we can boost the country’s economic growth is to be market oriented; that is, by allowing the private sector to do more.
“There is no way the public sector can sustain the rebuilding of this economy.
“We need a level playing field, a healthy competition that will be fair, transparent and open to rule of law.
“If this is done, we will be able to get it right.”
Olowu said it would be better if the government embarked on domestic borrowing, as it was attractive because of the low interest rate, following increase in Loan to Deposit Ratio (LDR), recently raised to 65 per cent.
According to him, this will help to grow the economy.
The CIBN boss said the basic model to economic growth was having access to credit.
He also said the economy needed sufficient growth drivers that would balance development.
Olowu urged government to confront reality and ensure development was more inclusive and balanced.
The financial expert said that there was the need for government to find a way of diversifying the economy, even though, oil continued to have a major role to play in her economy.
Olowu suggested that subsidy should be given for production and not for consumption.
“What this means is that you incentify the people, create a level playing field that will enable economic actors and inspire confidence,” he said.
The CIBN chairman, therefore, appealed to government to do more on ethical and value reorientation.
He advised government to communicate and feed those that it wanted to woo with the right dosage of message and act it as well.(NAN)
January 10, 2020
New Year: Fun seekers want improved economy, better governance in 2020
Fun seekers at various fun spots in Ibadan metropolis, including Agodi Gardens and Palms Mall, Ring Road, on Wednesday, urged the Federal Government to do its best to up the ante of governance and improve the economy in 2020.
They made the appeal in separate interviews with the News Agency of Nigeria (NAN) correspondent, who visited the centres.
Mrs Anna Igbakpa, a civil servant in the state, urged the government to create more jobs for the youth and improve the health sector in particular.
She said that government should also concentrate more on improving the education sector as well as workers’ welfare.
Igbakpa, who brought her children to have fun at Palms mall, thanked God for the grace to witness another year.
Mrs Mary Adebayo, also a parent and business woman, appealed to leaders to fulfil the promises made to the citizens during electioneering.
“We need improvement in social amenities, road construction, power supply and security. When there is adequate security in the country, there will surely be peace.
“I thank God for the year 2019 and pray for a bigger business breakthrough in 2020,” she said.
Similarly, Mr Femi Kushimo, a father and business man, urged government to invest more in agriculture by providing basic farm facilities and implements for the farmers.
Kushimo urged the government to open the country’s borders, saying this would help reduce the cost of his business materials.
“The prices of engineering equipment, especially the imported ones, we sell have really increased since the closure of the border.
“We commend the Federal Government on its efforts to curb corruption, while appealing that they should do more work to improve the economy in all aspects in 2020 in order to better our lots, ” he said.
Also, Mr Tunde Mohammed, a youth and member of staff of Ibadan Electricity Distribution Company (IBEDC), urged the government to concentrate more on road construction, especially that of Ibadan to Lagos and Niger to Kwara.
“We really commend the Federal Government for improved security in the country and the efforts to curb corruption as well as restructure the economy.
“Our youths should not be waiting for white collar jobs; they can engage in farming, which has different value chains and is capable of making them employers of labour,” he said.
Fun seekers, including parents, children, youths and suckling babies, were sighted at the centres eating, drinking and catching fun.
Other fun spots such as Bubbleplus, RinGii and Paris Kitchen, were not left out, as people filled up the places to celebrate the New Year. (NAN)
January 2, 2020
Ihedioha promises massive infrastructure development in 2020
Imo Governor Chief Emeka Ihedioha has promised massive infrastructure development for the 2020 fiscal year in the state.He made promise in his new year message he delivered in Owerri on Wednesday.Ihedioha harped on what he described as the determination of a committed executive team, the partnership of a collaborative legislature and the wisdom of an independent judiciary.The governor said he was also hopeful of the support of an enlightened, God-fearing and hardworking people to succeed.He said he would ensure prudent management of funds, proper planning based on empirical projections and a viable budget which formed the basis for fiscal responsibility and meaningful development.Ihedioha told the people that road reconstruction and industrialisation were part of his plans to revive the economy of the state and attract meaningful investments.
“To ensure sustenance of our road projects, we will revive the Road Maintenance Agency. We shall also vigorously pursue the rehabilitation, remobilisation and reconstruction of the Onitsha Road Industrial Layout.“We shall also intensify efforts in our promotion of investment and industrialisation to bolster economic development in the state and create jobs.“I assure you that Imo is OPEN FOR BUSINESS. Our dedicated ‘ease of doing business’ desk is there to address bottlenecks potential investors may face. Our efforts are gradually yielding results.“Information Technology will also be the platform that we will use to sanitise our previously abused land administration and allocation system. “Today, we have an airport which is like the crowning jewel of our state. Many of us went through pains to make the contributions then.“Today, we look back rejoicing for the harvest of an airport that has become a leader among many others, “the governor said. (NAN)
January 2, 2020
Men: 5 Ways to improve yourself in 2020
Whatsup gentlemen!
Who else is excited that 2019 is almost over and 2020 is staring at us right in the face? I am! And I know you are too.
It’s that time of the year again, everyone has started making a mental list of their New year resolutions. Resolutions that we all know doesn’t last more than one month before going back to our old selves and behaviors.
Well today that’s about to change, am going over 5 normal things any guy can do to be Ten times better in 2020 and you don’t have to start doing them in 2020, you can start practicing them now. The earlier the better!
Get up an hour early
Yes people, Get up an hour early! and I dont mean waking up and lying on your bed, stretching and yawning. I mean Get up! and start your day an hour earlier than you use to do the previous year. Do a little exercise, Read a book, do anything at all that keeps you functioning and productive!
Consume More water
Our body is made up of 97.5 percent of water and stressing the importance of proper hydration might leave this article unfinished.
It is advisable to drink at least One gallon of water a day, a cup before and after sleep. It keeps you healthy and it kills unnecessary fat, it also helps maintain a strong and healthy physique. Aim for it, a gallon of water a day!
Quit drinking
If you want to see an automatic and almost instantaneous overnight change on how you feel, how you act, how you look and how productive you are then Quit drinking, you’ll be surprised at how much effect this will have on your personal and social life come 2020
Quit pornography
Let me be crystal clear, am not here debating on the advantages and disadvantages of pornography, that’s not my job. All am saying is that if you want an all round productive year in 2020 then you have to limit your intake of porn, it kills you socially, mentally and productively.
And for you to become ten times better than you were in 2019 you have to Quit anything that kills you!
Take care of your Skin
As a man we all have the responsibilities of others on our shoulders. We have a wife, a child, siblings and parents who we care after.
And because of this we often forget ourselves and how we look but in 2020 that has got to change.
Get yourself some good clothes, a good soap/ cream and make sure your skin is radiant and well taken cared of.
That’s is guys. 2019 is almost over and 2020 is just by the corner, it all depends on the energy you face it with, are you gonna timidly Walk into the year with your arms folded and indifferent or you’re gonna Bring out that Alpha male in you and kick it’s motherfucking Ass!
December 30, 2019