Economy
December 2017 Inflation to Drop to 15.85%—FSDH
By Dipo Olowookere
As the nation await the release of inflation rate data for the month of December 2017 next week by the Nigerian Bureau of Statistics (NBS), analysts at FSDH Research have predicted a further drop in the rate.
According to its latest report posted on its website, FSDH Research team said inflation would moderate further to 15.85 percent from 15.90 percent achieved in November 2017.
FSDH explained that the expected decrease in the inflation rate would be driven by the base effect and would be the 11th consecutive month of decrease in the inflation rate in 2017.
Based on the data release calendar on the website of the NBS, FSDH Research expects the stats office to release the inflation rate for the month of December 2017 on Tuesday, January 16, 2018.
The December 2017 monthly Food Price Index (FPI) from the Food and Agriculture Organization (FAO) shows that the Index averaged 169.8 points. The Index was down by 3.31%, compared with the revised November 2017 figure.
According to the FAO, the latest performance of the Index was largely driven by a sharp fall in dairy, vegetable oils and sugar prices. The FAO Dairy Index depreciated by 9.70 percent from November 2017, as a result of weaker demand. The FAO Vegetable Oil Price Index fell by 5.56 percent, largely on the heels of lower prices for palm, rapeseed and soybean oils.
The FAO Sugar Index fell by 4.05 percent, on the back of favourable production reports emanating from the main producing region. The FAO Meat Price Index was marginally down by 0.57 percent, as most meat categories recorded lower prices. The FAO Cereal Price Index decreased marginally by 0.28 percent in December 2017, mainly due to the decrease in the price of wheat.
“Our analysis indicates that the value of the Naira remained stable at both the inter-bank and parallel foreign exchange markets.
“The Naira closed at N306/$ and N363.50/ $ same as the previous month at both the inter-bank and parallel markets respectively.
“The drop in the international prices of food reduced the pass-through effect of imported goods on local prices. The prices of most of the food items we monitored in December 2017 moved in varying directions, leading to 1.08 percent increase in our Food and Non-Alcoholic Index. The Food and Non-Alcoholic Index increased by 19.95 percent from 217.61 points in December 2016.
“We also noticed increase in the prices of Transport and Housing, Water, Electricity, Gas & Other Fuels divisions between November and December 2017.
“We estimate that the increase in the Composite Consumer Price Index (CCPI) in December 2017 would produce an inflation rate of 15.85 percent lower than the 15.90 percent recorded in November,” the report said.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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