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Breakfast Report - 29 December 2021
| President Buhari unveiled the 2021-2025 National Development Plan which would succeed the Economic Recovery Growth Plan (ERGP). The plan outlined the developmental goals, and will require ₦348.1 trillion in investments, expected to be funded majorly by the private sector. While the set plans are optimistic and extensive on paper, implementation could be a challenge as previous development goals are yet to be achieved. Furthermore, the upcoming 2023 election, introduces another layer of uncertainty and may deter swift action by private investors as a change of government could lead to the formulation of alternative plans. | |||||
| Equity: Despite last Friday’s positive close, WTD return, and market breadth remained negative, as sentiment in the market continues to tend towards the bears. Therefore, we anticipate mixed sessions to close out the year, as we expect the market to be majorly driven by portfolio rebalancing activities | |||||
| Fixed Income:In the coming session, we anticipate tepid trading across all three segments of the market, as players close out their positions for year-end |
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