Nigeria in 1min: Economic, Business and Financial Headlines - 131021


Wednesday, October 13, 2021 / 5:57 AM / By News Aggregator / Header Image Credit: Twitter; @NOIweala


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 COVID-19 Health Updates

  • 11th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 207,978 cases (New: 284)
  • Discharged: 195,626
  • Deaths: 2,756 (New: 9)

Source: NCDC Read More


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WEO October 2021: Recovery During a Pandemic - Health Concerns, Supply Disruptions - The global economic recovery is continuing, even as the pandemic resurges. The fault lines opened up by COVID-19 are looking more persistent-near-term divergences are expected to leave lasting imprints on medium-term performance. Source IMF Read More

Senate Bows to Pressure, Empowers INEC to Determine Transmission of Election Results - TheCable is reporting that the Nigerian senate has reconsidered the electoral act amendment bill and has empowered the Independent National Electoral Commission (INEC) to determine the best mode to transmit election results. Source Dyepkazah Shibayan of TheCable Read More

Inflation Projected to Increase in September 2021 to 17.2% - headline inflation in Nigeria is likely to reverse its downward trend and increase to 17.2% for the month of September. This will be the first increase after six consecutive months of marginal declines in headline inflation in 2021. Source FDC Ltd Read More

OECD: 163 Countries Strike a Ground-breaking Tax Deal for the Digital Age, Nigeria Yet to Join - Major reform of the international tax system finalised at the OECD will ensure that Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023. Source OECD Read More

Is $80 The New Normal for Oil? - OIR 121021 - Crude prices seem to have settled quite comfortably above the $80 per barrel mark, despite growing calls from US officials on OPEC+ to increase production so as to ease the ongoing appreciation of transportation fuels. Source Tom Kool of Oilprice Read More

Customs Restores VAT, Multiple Charges on Imported Aircraft, Spare Parts - About three months after the implementation of zero Value Added Tax (VAT) on commercial aircraft and spare parts, the Nigerian Customs Service (NCS) has allegedly restored the collection of 7.5 per cent VAT and sundry charges from operators. Source Guardian NG Read More

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Investors Gain N95.46bn as NSEASI Inches up by 0.45%, Erases Previous Day Loss - Equities market closed today on a positive note, as NSEASI appreciated by 0.45% to close at 40,896.96 basis points as against -0.38% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.56%. Source Proshare Markets Read More

NGX Group Upholds Global Best Practices Ahead of Planned Listing by Introduction - Nigerian Exchange Group Plc's (NGX Group or The Group) leveraged the Facts Behind the Listing of Nigerian Exchange Limited (NGX or Exchange) to engage stakeholders on Monday, 11 October 2021 ahead of the Listing by Introduction of its shares on NGX. Source NGX Read More


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Coke@70: Coca-Cola to Invest US$1bn in Nigeria Over the Next Five Years - Coca-Cola has renewed its commitment to investing about US$1bn over the next five years in Nigeria to scale its operations by creating more business and economic opportunities. Source Coca-Cola Read More

Mastercard Foundation, EDC Partner Banks, to Train and Fund Unemployed Youth - Worried by the high rate of unemployment in the country, the duo of Mastercard Foundation and Enterprise Development Centre (EDC) have collaborated to train and fund 40,000 youth per year in the spate of 5 years. Source Dangote Group Read More

LCCI Laments over Worsening Impact of Insecurity on Food Production - The Lagos Chamber of Commerce and Industry (LCCI) has lamented the high level of insecurity in the North-east, noting that the situation is having a profound impact on food production. Source THISDAYLIVE Read More

Customs Threatens to Impound 29 Private Jets Over Failure to Pay Import Duties - The Nigeria Customs Service (NCS) has threatened to impound 29 private jets on which the owners did not pay statutory import duties to the federal government. Joseph Attah, NCS public relations officer (PRO, disclosed this at a news conference on Tuesday in Abuja. Source TheCable Read More

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Nigerian Digital Bank Carbon Signs with Network International to Boost Digital Payment Offering - Pan-African fintech startup and digital bank Carbon Bank has partnered with Network International, the leading enabler of digital commerce across Africa and the Middle East, as part of its plan to boost its digital payment offering. Source Network International Read More

MTN Explains Service Disruption, Partners Ericsson, Cisco to Fix Hitches - Telecommunications firm, MTN has explained that the service outage experienced at the weekend by millions of its subscribers, across the country was caused by a disruption in the core network, which affected voice and data services. Source Guardian NG Read More

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DealHQ Partners Announces the Panel of Judges for the Undergraduate Essay Competition 2021 - DealHQ Partners, an Africa Focused deal advisory/boutique commercial law firm operating out of Lagos, Nigeria had earlier announced the launch of its annual Law Undergraduate Essay Competition. Source DealHQ Partners Read More

Stakeholders Examine the Role of Islamic Banking and Finance in Stabilizing Nigeria's Economy - The International Islamic University Malaysia Alumni Nigeria Chapter held its 3rd annual conference virtually with the theme "The Role of Islamic Banking and Finance in Stabilizing the Nigerian Economy Amidst Insecurity". Source Bukola Akinyele-Yisau for WebTV Read More 

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