Economy
Nigerian Consumers Expect Rise in Inflation, Naira—CBN Survey
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has released its Consumer Expectations Survey (CES) for the third quarter (Q3) of 2019. In the report analysed by Business Post, it was discovered that consumers have a positive outlook for the next 12 months.
The survey also showed that most respondents expect the Naira to appreciate within the period as well as a possible increase in the nation’s inflation rate. But they expect the borrowing rate to fall.
The survey, according to the apex bank, was conducted during the between September 16 – 27, and covered a sample size of 2,070 households drawn from 207 Enumeration Areas (EAs) across Nigeria, with a response rate of 98.3 percent.
It was discovered that consumers’ overall confidence outlook rose in the quarter under review, and this was attributed to more consumers showing optimism in their positive outlook rose to 22.8 and 31.5 points, respectively. The index rose to 3.8 points indicating 2.3 points increase from the index in the corresponding period of 2018.
Respondents also expect that prices of goods and services will rise in the next 12 months, with an index of 25.0 points driven by purchase of appliances/ consumer durables, savings, education, purchase of car/motor vehicle, purchase of house and transportation.
The unemployment index for the next 12 months also remained positive at 21.8 points in the reviewed quarter, this means that consumers generally expect the unemployment rate to rise in the next one year.
Looking at the country’s Borrowing and Exchange Rate Outlook which are put at -6.2 and 13.9 points respectively, it was shown that consumers hope the borrowing rate will reduce and were hopeful for the local currency to appreciate in the next one year.
When asked about the ideal time to buy big ticket items such as consumer durables, motor vehicles, houses among others, majority of respondents indicated that the current quarter was not ideal to purchase, as it stood at 30.3 points.
Also, looking at the next 12 months, Overall buying intention index was pegged at 36.2 index points, this also indicated that most consumers do not intend to buy big ticket items in the next one year.
An index above 50 means more respondents indicated that it is a good time to buy assets; below 50 means more respondents believe that it would not be an appropriate time to make those purchases; and 50 means the number of respondents on both sides is equal.
Looking at the sampled population, Respondents’ distribution by educational attainment showed that 7.3 percent had university education, 11.7 per cent had higher non-university education, while 27.8 per cent had senior secondary school education.
Respondents with junior secondary and primary school education accounted for 5.0 and 19.3 percent, respectively, while those with no formal education accounted for the balance of 28.9 percent.
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.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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