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8 months ago

12-02-2018

Nigeria’s Financial & Business Newspaper February, Monday 12 - Sunday 18, 2018 www.businessamlive.com business a.m. TOWARDS MORE EFFICIENT MARKETS TURNED ON MTN’s $500m IPO Finally, something for everyone SPEED SERVICE SECURITY THERE ARE MANY INSTITU- TIONAL and individual investors out there who have always looked forward to this day, since South African MTN came to Nigeria in 2001 and began to make a lot of money Back Page SEE LIKE BUY EXPERIENCE MORE WITH YOUR ACCESS BANK CREDIT CARD * Benefits Include: * Up to 40 days interest-free credit * Global acceptance on POS terminals free of charge * Discounted rates at over 55.000 hotels worldwide. * Verified by Visa security for all online transaction. * Supplementary card(s) available. Foreign banks may charge cardholders for the use of their bank ATMs. SPEED SERVICE SECURITY CLOSING PRICES NSE ALL-SHARE 45000 43500 42000 2 5 6 7 8 9 JSE 58000 50000 45000 5 6 7 8 9 FTSE 100 7400 7300 7100 5 6 7 8 9 DOW JONES 24500 24000 23500 5 6 7 8 9 S & P 500 3000 2500 2000 5 6 7 8 9 -3.4% 43,127.92 -1.29% 49,287.00 -1.09% 7,196.00 1.38% 24,190.90 1.49% 2,619.55 Executive, legislature face-off slows economic policies AJOSE SEHINDEMI BISMARCK VV, FINANCIAL analyst and chief executive officer of Lagos-based Financial Derivatives Company Ltd (FDC), has indicated that the political face-off between Nigeria’s Presidency and the National Assembly is choking economic policy implementation and stalling economic growth. Rewane cited some outcome of the faceoff to include the 2018 budget, which he said was in limbo; the inability of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to meet on lack of quorum due to non-confirmation of members by the lawmakers; and the near lack of leadership at the Pension Commission. In a presentation at the executive breakfast meeting of the Lagos Business School (LBS) last week entitled ‘’2019: The Changing Political Calculus’’ he said the face-off does no one any good. “Oversight function is becoming an elegant shakedown and NASS is right in seeking for compromise from the Presidency on policy issues as the Presidency’s intent on playing a winner takes all game is not good for the system.” He noted that the ruling APC are in a dilemma on the direction to go in shaping the economy as election is fast approaching and all their decisions will be on winning the election. “APC are stuck between pleasing the electorate and delivering on economic reform from now until 2019, as the policy options are in three buckets: Political expediency - Vote catching sound bites; Economic necessity – Keep the economy going and creditors happy; and material convenience – sharing the spoils.” Page 2 Summary Coys to gain on new tax laws NIGERIAN CORPORATES AND ELIGIBLE taxpayers are expected to gain some reliefs when the ongoing tax law reforms are approved and implemented, according to details of the recommendations of the National Tax Policy Implementation Committee (NTPIC) seen by business.a.m. Page 2 FINANCE & INVESTMENT Treasury bills bearish The treasury bills market has been predominantly bearish since the last primary market auction on the 31st of January 2018. The average T-Bills yield has advanced by 1.00 percent, following yield increases on all tenors. Page 14 COMPANY NEWS Multi-Trex N5bn lifeline MULTI-TREX INTEGRATED Foods Plc, the indigenous production company, long troubled over a mounting of debts that led to the intervention of AMCON could be in for a lifeline as the Nigeria Export-Import Bank (NEXIM) says it has N5billion facility on the table to revamp the company and bring it back to production. Page 20 TECHNOLOGY & INNOVATION High data cost challenge e-commerce E-COMMERCE is challenged in Nigeria by myriad of issues including ease of doing business, infrastructure deficit, culminating in high data and operating cost. Page 22 L-R:Yemi Osinbajo, vice president of Nigeria; Mauricio Alarcon, managing director/CEO, Nestlé Nigeria Plc, and Yetunde Onanuga, deputy governor of Ogun State, at the commissioning of Nestlé Milo Ready-to- Drink factory in Agbara,Ogun state, on Thursday THE MONDAY INTERVIEW I vote for low interest rate Mustafa Chike-Obi is an interesting subject for any serious financial journalist to interview. As an international investment banker with a Goldman Sachs’ pedigree, the pioneer managing director/CEO of AMCON, now executive vice chairman, Alpha African Advisory, talks a lot of sense in this interview with business a.m. Page 16 EXECUTIVE KNOWLEDGE SERIES A pathway to scale in emerging markets IN 2012, CHINA LAUNCHED a series of reforms aimed at incentivising growth in the private sector of the country’s healthcare system. Like many emerging economies, China faces a host of challenges in delivering high-quality healthcare access Page 9 News: 2 & 4 Comment: 6 & 7 Industry: 27 Commodities & Agriculture: 31 WORLD BUSINESS & ECONOMY UK posts largest trade deficit THE UK’S DEFICIT on trade in goods and services widened by £1.2 billion to £4.896 billion in December 2017 from an upwardly revised £3.652 billion in the previous month and way above market expectations of £2.4 billion. It was the largest trade deficit since September 2016. Page 24 ENERGY, POWER & RENEWABLE Nigeria rig counts rise Signs that drilling activities in the oil and gas industry are picking up and reflecting the increased crude oil production in Nigeria are showing up in the number of rigs being deployed Page 26 SAVE 50% ON THE RETAIL VALUE For subscription call: 07039371360 N250 No 002

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