Nigeria in 1min: Economic, Business and Financial Headlines - 031221


Friday, December 03, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: The Chartered Institute of Bankers of Nigeria - CIBN


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  COVID-19 Health Updates

  • 1st of December 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 214,270 cases (New: 52)
  • Discharged: 207,312
  • Deaths: 2,978 (New: 1)

Source: NCDC Read More


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Fitch Rates Guaranty Trust Holding Company ''B''; Outlook Stable - Fitch Ratings has assigned Nigeria-based Guaranty Trust Holding Company Plc (GTCO) a Long-Term Issuer Default Rating (IDR) of 'B' with a Stable Outlook and a Viability Rating (VR) of 'b'. Source Fitch Ratings Read More

Moody's Changes Nigeria's Outlook to Stable, Affirms B2 Ratings - Moody's Investors Service ("Moody's") has today changed the outlook on the Government of Nigeria to stable from negative and affirmed its long-term issuer and senior unsecured ratings at B2. Moody's also affirmed the Government of Nigeria's (P)B2 senior unsecured medium-term note program rating. Source Moody's Investors Service Read More

Moody's Changes Outlook to Stable on 3 Nigerian Corporates Following Sovereign Rating Action - The rating actions follow Moody's sovereign outlook change of the Government of Nigeria's ratings on 29 November to stable from negative and affirmation of the B2 long-term foreign-currency issuer ratings. Nigeria's Ba3 local-currency and B2 foreign-currency ceilings remain unchanged. Source Moody's Investors Service Read More 

Buhari Transmits Finance Bill to NASS for 2022 Budget - The President, Major General Muhammadu Buhari (retd.), has transmitted the Finance Bill 2021 to the National Assembly for consideration and passage to give legal backing to some of the proposals in the 2022 Appropriation Bill currently before the parliament. Source Punch Read More

Airport Concession: ICRC Completes Evaluation of Bi-Courtney, 12 Local, Foreign Firms - The Independent Concession and Regulatory Commission, the Federal Government agency supervising the concession of the nation's four main international airports, has completed the evaluation of 13 companies that have submitted Requests for Qualification to participate in the bidding process. Source Punch Read More

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Investors Eyeball MTN Nigeria's 575m Units New Offer - In the wake of global corporate repositioning, MTN has decided to shake up the investor composition of its Nigerian operation by selling off an additional 575m units to local Nigerian investors. The move comes off the back of its listing on the Nigerian Exchange Limited (NGX) in 2019. Source Adaeze Nwachukwu, Proshare Research Read More

Investors Lose N112.28bn as NGXASI Dips by -0.51%, Sentiment Remains Negative - Equities market closed on a negative note, as NGXASI depreciated by -0.51% to close at 42,247.98 basis points as against -1.81% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +4.91%. Source Proshare Markets Read More

Omicron Increases Growth Risks and Policymaking Challenges - It is too soon to incorporate the effects of the Omicron coronavirus variant into our economic growth forecasts until more is known about its transmissibility and severity, Fitch Ratings says. Source Fitch Ratings Read More


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UAE Bizmen Invest $2bn in Nigerian Mining Sector - Investors from the United Arab Emirates have pledged $2bn worth of investments into the Nigerian mining sector as the aftermath of the Africa-UAE Trade and Investment forum. Source Punch Read More

OPEC+ Retains Monthly Oil Output Increase by 400,000bpd Amid Omicron concerns - The new decision is for oil production in January 2022. The oil cartel made the decision at the 23rd OPEC and non-OPEC ministerial meeting (ONOMM) held online on Thursday. The monthly meeting by the alliance is held primarily to review oil output to 'ensure a stable and balanced oil market'. Source TheCable Read More


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