Afrinvest Partners THISDAY to Provide Capital Market Insight Goddy Egene Leading wealth advisory firm, Afrinvest (West Africa) Limited, and THISDAY Newspapers have partnered to launch the THISDAY/Afrinvest 40, a capital market index that measures the daily stock performance of some of the largest companies trading on the Nigeria Stock Exchange
(NSE). Starting from today, the index will be published in THISDAY Newspaper every weekday, while indepth analyses focusing on macroeconomic, sectoral and company issues will be published in THISDAY, The Sunday Newspaper every Sunday. The THISDAY/Afrinvest
40 Index is made up of 40 stocks, which cut across the various sectors on the NSE. The companies include premier corporations like Nigerian Breweries Plc, Guaranty Trust Bank Plc, Dangote Cement Plc, Flour Mills of Nigeria Plc, Cadbury Nigeria Plc and Glaxo SmithKline Plc, among others. Commenting on the decision to limit the index
to 40 companies, Ike Chioke, Group Managing Director of Afrinvest, said: “It is very difficult to effectively track every single security trading in the country. To get around this, we have taken a smaller sample of the market that is representative of the whole. “The stocks within the THISDAY/Afrinvest 40 index were selected on the basis of
liquidity, tradability (float) and size (market capitalization). “Collectively, the stocks of these 40 companies account for 94.0% of total market capitalization and approximately 42.0% of tradable float.” On the value of the index to the investing public, Chioke Continued on page 56
Chioke
Monday 16 October, 2017 Vol 22. No 8215. Price: N250
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NNPC: Western Europe, Asian Countries Major Destinations for Nigeria’s Oil… Page 57
No Plan to Bequeath Unserviceable Debts to Nigerians, Says Adeosun as Concerns Mount Emefiele: Foreign lenders to expand credit lines to Nigerian banks Kunle Aderinokun, Chika Amanze-Nwachuku, Obinna Chima, Nume Ekeghe in Washington D.C. and Onyebuchi Ezigbo in Abuja Despite mounting concerns and the warning by the International Monetary Fund (IMF) of the heightened risks associated with greater reliance on foreign borrowing, the
Minister of Finance, Mrs. Kemi Adeosun has said that the federal government would not be reckless with foreign borrowings as it maintains an expansionary fiscal policy. She also assured Nigerians that it would not bequeath a portfolio of unserviceable debts to future generations Continued on page 56
Presidency Blames PDP for Restructuring Agitations Says no such thing as $25bn NNPC contracts Senator Iroegbu in Abuja The presidency has blamed the growing clamour for the restructuring of the Nigerian federation on those opposed to the Muhammadu Buhari administration, particularly the Peoples Democratic Party (PDP), despite the fact that
the ruling All Progressives Congress (APC) is not antagonistic to restructuring. The Special Adviser to the President, Media and Publicity, Mr. Femi Adesina made this known at the weekend while speaking on Continued on page 10
World Bank: We Have over $8.5bn Investments Scattered Across Nigeria... Page61
AT THE ANNUAL MEETINGS Central Bank Governor, Godwin Emefiele and the International Monetary Fund (IMF) Managing Director, Christine Lagarde at the World Bank/IMF 2017 Annual Meetings in Washington D.C.... weekend