Proshare one minute news

Here's a one-minute news summary from Proshare, a leading financial news and research firm in Nigeria:

Top Stories

Nigeria's Inflation Rate Rises to 17.6%: The National Bureau of Statistics (NBS) has released the Consumer Price Index (CPI) report for January 2023, showing that inflation rose to 17.6% from 17.1% in December 2022. This is the highest inflation rate in over 17 years.
CBN Introduces New FX Policy: The Central Bank of Nigeria (CBN) has introduced a new foreign exchange (FX) policy aimed at improving the management of the country's foreign exchange reserves. The policy includes the introduction of a new FX window for investors and exporters.
Nigerian Stock Market Rallies: The Nigerian Stock Exchange (NSE) All-Share Index rose by 1.3% to close at 44,644.42 points on Friday, driven by gains in stocks such as Dangote Cement, Nestle Nigeria, and Guaranty Trust Bank.
FG to Review Power Sector Privatization: The Federal Government has announced plans to review the power sector privatization program, which was implemented in 2013. The review is aimed at addressing the challenges facing the sector, including inadequate power supply and high tariffs.
Nigeria's GDP Growth Slows to 3.1%: The NBS has released the Gross Domestic Product (GDP) report for Q4 2022, showing that the country's GDP growth slowed to 3.1% from 3.4% in Q3 2022. The slowdown was attributed to a decline in the agricultural sector.

Market Updates

The NSE All-Share Index closed at 44,644.42 points, up 1.3% from the previous day.
The market capitalization of the NSE rose by N143.4 billion to N24.3 trillion.
The top gainers on the NSE were Dangote Cement, Nestle Nigeria, and Guaranty Trust Bank.
The top losers were MTN Nigeria, Airtel Africa, and United Bank for Africa.

Economic Indicators

Upcoming Events

That's all for now. Stay informed with Proshare's one-minute news summary!