Photograph — Financial Times

Numbers released by NOI Polls for Nigeria’s power sector in 2018 indicate a small increase in power supply compared to 2016 and 2017. However, in spite of the improvement, power supply to Nigerian households still remained underwhelming.

The report which assessed power supply in Nigeria between January 2018 and December 2018 showed that power supply was at its highest in the 3rd quarter of the year, according to 43 percent of respondents in that quarter. On a month-month basis, August witnessed the highest improvement in power supply last year with 46 percent of respondents affirming this fact. It recorded the highest average daily cumulative hours of power supply to Nigerian households with 10.3 hours. The average cumulative hours of power supply to Nigerian households in Q3, 2018 was highest at an average of 9.8 hours.

Power Poll Report 2018, Credit: NOI POLLS

Below is the Ventures Africa Weekly Economic Index, for the week ending 18th of January, 2019. This economic index gives you a glimpse into other recent activities in Nigeria’s economy as well as changes and prices that could affect the economy:

Nigerian Stock Exchange

Data released by the Nigerian Stock Exchange (NSE), as of 18th January 2019, showed that the All-Share Index appreciated by 3.94 percent from the previous week ending 11th January 2018. Market capitalization at the close of trading during the week under review was N11.562 trillion, a 3.94 percent increase from N11.124 trillion recorded the previous week. The All Share-Index for the week under review closed at 31,005.17

Top five price gainers and decliners in the week under review:

Top five price gainers

NEM Insurance Plc

Sovereign Trust Insurance Plc.

Royal Exchange Plc.

Cement Co. of North. Nig. Plc.

Custodian Investment Plc.

Top five price decliners

Resort Savings and Loans Plc.

Beta Glass Plc.

Linkage Assurance Plc.

Berger Paints Plc.

E-Tranzact International Plc.

How did the Naira fare?

Nigeria's-Inflation-rate
PIUS UTOMI EKPEI/AFP/Getty Images

The Naira appreciated against the dollar last week, trading at N362 to a dollar on the 18th of January 2019, compared to the N364 recorded a week before.

How did the price of oil fare?

Brent oil prices closed out the week on the 18th of January 2019 at $62.23 per barrel, up from $60.53 per barrel recorded the previous week. Brent oil prices rose after Saudi Arabia released its monthly oil market report last week. Saudi Arabia recorded a 751,000 bpd decline, slashing outputs by 468,000 bpd, while Iran lost 159,000 bpd, and Libya lost 172,000 bpd. There were also smaller supply cuts from the UAE and losses from Venezuela. The negotiations between China and the USA to end the Trade war between them is also encouraging for oil prices.

Elsewhere on Ventures

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