December 21, 2021 FX, Commodity, Money Market, And Fixed Income Summary Report

The naira depreciated by 0.1% at the I & E window to close at NGN415.10/USD, while it stayed the same at NGN414.80/USD and NGN569/USD in the CBN interbank market and parallel market, respectively.

According to figures from the Nigerian Bureau of Statistics (NBS), the inflation figure for the month of November dropped to 15.40% as against the October figure of 15.99%.

In the continuation of our series to get the prices of everyday consumer goods in some of the popular markets in Lagos State, Nigeria, the prices of some of the food items are listed below:

For a heavily pregnant West African dwarf goat, the price is between NGN45,000 and NGN48,000 at the sabo market in Ikorodu. For an exotic Sokoto goat, the price is between NGN30,000 and NGN38,000 and this depends on the size and your negotiating prowess.

The skinny, average-height Sahel goat, the price is between NGN25,000 and NGN30,000. A kilo of Titus ice fish costs between NGN1,450 and NGN1,800. A crate of eggs costs between NGN 1,600 and NGN 1,900. An agri-hen, or layer, costs between NGN3,500 and NGN4,000. A boiler costs between NGN4,500 and NGN5,500. A roaster costs between NGN5,500 and NGN7,000, depending on the weight and your negotiating prowess.

In the money market, the overnight lending rate was reduced by 250bps from its previous day position of 12.5% to close at 10% following inflows of NGN45 billion from matured OMO maturities.

Due to a lack of significant activity, the average yield of the NTB secondary market stayed at 4.5%.

Similarly, the average yield stayed at 5.5% in the OMO segment.

Trading in the treasury bond secondary market ended slightly bearish as the average yield still maintained its previous day's position of 11.4%.

The average yield closed higher at the short (+5bps) end of the benchmark curve, following sell pressures on the JAN-2022 (+26bps) bond, but unchanged at the mid and long segments.