BusinessDay-06-Mar-2020.pdf - businessday market monitor...

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NEWS YOU CAN TRUST I ** FRIDAY 06 MARCH 2020 I VOL. 19, NO 514 I N300 @ g g g www. Inside P. 4 P. 4 House committee lauds NIRSAL MD on agribusiness transformation Opportunities seen in Nigeria’s health industry as senate moves to make insurance compulsory L-R: Peter Nubi, employee assistant programme (EAP)/mental health specialist, Medbury Medical Services; Funke Amobi, country head, human capital, Stanbic IBTC; Lola Esan, director, people advisory services, EY West Africa; Ogho Okiti, managing director, BusinessDay Media Limited; Esther Akinnukwe, chief HR officer, MTN, and Sola Akinyosoyo, head, HR, Nestle Nigeria, all speakers at the BusinessDay Workplace Health and Wellbeing Conference and Report in Lagos, yesterday. Pic by Pius Okeosisi 12.19 0.10 30 Y FGN BONDS 5 Y 8.74 1.77 10 Y 0.00 10.69 367.00 375.00 380.00 ($/N) FMDQ Close FOREIGN EXCHANGE TREASURY BILLS Market Spot ($/N) 3M 6M I&E FX Window CBN Official Rate 366.57 0.00 0.69 307.00 2.87 3.97 Currency Futures NGUS FEB 24 2021 NGUS FEB 22 2023 NGUS FEB 26 2025 US$ 2,633.00 $ 52.36 $ 1,638.35 BUY SELL 357.00 360.00 464.00 471.00 391.00 398.00 $-N £-N €-N Everdon Bureau De Change Bitcoin ₦3,179,641.46 +0.70 Biggest Gainer 26,426.20 Biggest Loser Nestle N1080 -5.83 pc Stanbic N32.5 9.85 pc NSE Cocoa Gold Crude Oil - $36.3bn GBP-$: 1.29 YUANY - 52.47 Commodities Foreign Reserve Cross Rates businessday market monitor LOLADE AKINMURELE Continues on page 45 Petrol landing cost at 2-year low gives Nigeria leeway out of subsidy T he coronavirus-induced decline in crude oil prices is not all bad news for oil- dependent Nigeria as it presents a window for the government to put an end to wasteful petrol subsidies that costs over a trillion naira yearly. Since the coronavirus out- break, which has ravaged over 31 countries, infected some 95,000 people and caused low crude oil JUMOKE AKIYODE-LAWANSON Continues on page 45 S tiff competition, in- creasing consumer awareness and rapid smartphone penetra- tion have forced mobile network operators (MNOs) to constantly crash data tariffs and give massive discounts to their customers to maintain or MTN, Airtel, Glo, others intensify data wars As telcos focus on next growth phase increase their market share. With the number of active data users increasing and data revenues accelerating year on year, data has been clearly iden- tified as the future of telecoms, and service providers in Nige- ria are investing massively in data service infrastructure and fiercely competing for the most favourable prices to draw in cus- tomers and continuously ramp up revenues. Compared to other African countries, Nigeria has the cheap- est data prices available for telecoms subscribers, with the four major operators – MTN, Airtel, Globacom and 9mobile – offering internet data for as low as N50 for 25MB (megabytes) of data for daily plans and all-day social network bundles. MTN Nigeria saw its active data subscribers increase by 6.5 percent to 25.2 million in 2019. “As a result, the ratio of ac- tive data users to total mobile subscribers increased by 7.1 per- centage points to 39.2 percent in 2019 with strong potential for
@Businessdayng 2 Friday 06 March 2020 BUSINESS DAY
@Businessdayng 3 Friday 06 March 2020 BUSINESS DAY

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