CAPITAL MARKET
Dangote Cement lists N150bn bonds on NGX
The Nigerian Exchange Limited said on Tuesday that Dangote Cement Plc listed three N50bn tranches of bonds under the N300bn Debt Issuance Programme. According to the NGX, the bonds are 3.64 million units of a three-year 11.25 per cent senior unsecured fixed rate bond due 2024; 10.45 million units of a five-year unsecured fixed rate bond due 2026; and a seven-year 13.50 per cent senior unsecured fixed rate bond due 2028. It said the bonds were issued on May 26, 2021 by Dangote Cement and brokered by Meristem Securities Punch
Fixed Income, FX Markets Sustains Momentum Recording N15.31trn, $10.12bn Turnover in One Month
Investors’ interest in the fixed income and currencies markets has continue to soar as both markets recorded significant increase in turnover in June 2021, a report by FMDQ OTC limited has revealed. Analysis of the report revealed that fixed income markets recorded a turnover of N15.31 trillion for the month ended June 30, 2021, representing a month-on-month (MoM1) increase of 49.51 per cent to N5.07trillion and a year-on-year (YoY2) decrease of 7.04 per cent (N1.16trn). The report revealed that foreign exchange (FX) and money market transactions were the highest contributors to the fixed income markets turnover in June 2021. This Day
Listed Oil & gas companies on the Nigerian Exchange Limited (NGX) reported growth in profit and revenue driven by hike in prices of Premium Motor Spirits (PMS), among others. The Oil & gas companies that have so far released their half year results for period ended June 30, 2021 on NGX are; Ardova Plc, Total Nigeria Plc, MRS Nigeria Plc, Conoil Plc, Seplat Petroleum and Eterna Plc. For the period under review, these companies grew revenue by 30per cent to N500.93 billion when compared to N384.08 billion reported in half year ended June 30, 2020. Also, profit for the period moved from N379.8million in H1 2020 to N11.39billion in H1 2021. This Day
ECONOMY
World Bank lists Nigeria, nine others as countries with high debt risk exposure
The World Bank has stated that Nigeria is among a list of top 10 countries with high debt risk exposure. It stated this in the financial statement for International Development Association, which was among the World Bank FY21 audited financial statements released on Monday. The financial statement said, “IDA faces two types of credit risk: country credit risk and counterparty credit risk. “Country credit risk is the risk of loss due to a country not meeting its contractual obligations; and counterparty credit risk is the risk of loss attributable to a counterparty not honoring its contractual obligations. Punch
Nigeria’s VAT hits N1tn in six months, says NBS
Nigeria generated a N1tn in the first half of the year, consisting of N512.25bn in the second quarter and N495.39bn generated in the first quarter. The figures were contained in the ‘Sectoral distribution of Value Added Tax’ report released on Tuesday by the National Bureau of Statistics. The report read, “Sectorial distribution of Value Added Tax data for Q2 2021 reflected that the sum of N512.25bn was generated as VAT in Q2 2021 as against N496.39bn generated in Q1 2021 and N327.2bn generated in Q2 2020 representing 3.20 per cent increase Quarter-on-Quarter and 56.56 per cent increase Year-on-Year.”. Punch
At Last Green Africa Receives Operating License
After several months of high expectation, the upcoming domestic carrier, Green Africa Airways has announced that it has received Air Operator Certificate (AOC). The Lagos-based airline said it received the required AOC from the Nigerian Civil Aviation Authority (NCAA) on Monday and plans to commence “soft launch of flight schedule immediately and first official commercial flight to take off on Thursday, August 12, 2021.” “Following the successful completion of all five phases of the AOC application process, Green Africa was today (Monday) presented its Air Operator’s Certificate by Kayode Ajiboye on behalf of Capt. Musa Nuhu, Director General of the Nigerian Civil Aviation Authority, at the NCAA headquarters in Abuja. This Day