​We continue with our series of excerpts from our core strategy document – The Nigeria Strategy Report, but direct our focus towards a review of the performance of Gross Domestic Product over 9M 2016 and outline our view on the economic landscape for 2017.
Extending the pattern in H1 16, when output shrank 1.2% YoY, the economic landscape deteriorated further in Q3 16 with NBS reporting that real GDP contracted 2.24% YoY which places Nigeria on track for a first annual output contraction since 1991 (9M 16: -1.6% YoY).
ARM Securities Limited is a full-service brokerage house that offers best-in-class brokerage services to local as well as foreign private and institutional investors. Formerly known as Hamilton Hammer, the Company commenced operation in 1994 and was acquired by ARM Investment Managers in 2008--an acquisition which has successfully re-positioned the company as a recognized brokerage firm in Nigeria. The Company is a dealing member of the Nigerian Stock Exchange (NSE) and is regulated by Securities and Exchange Commission (SEC). ARM Securities research team provides insightful commentaries on the Nigerian economy and its equity and debt markets using an approach which incorporates a thorough understanding of the fundamentals of the industries and companies under coverage. The research therefore adopts an integrated methodology of top-down analysis and bottom-up stock selection, which focuses on publicly quoted companies on the Nigerian Stock Exchange that are judged to offer the highest potential for earnings growth. In addition, its analysts provide periodic commentaries on a range of topical global and local issues which provide investing clients with a holistic view of the opportunities and risks in today’s financial market landscape.
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