Nigeria in 1min: Economic, Business and Financial Headlines - 150321


Monday, March 15, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates 

  • 14th of March 2021: Nigeria COVID19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 160,657 cases (New: 120)
  • Discharged:  145,399
  • Deaths: : 2013 (New: 12)

Source: NCDC Read More

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Wrestling COVID-19 and Lifting Gas - Investors in the gas business are globally on an emotional high as the world becomes increasingly conscious of the need to cut down on carbon-emitting energy sources. The shift of preference to 'greener' energy sources has steadily increased the demand for gas, a trend likely to continue over the next decade. Source Proshare Research Read More

Nigeria's 2021 Oil Market Playbook: Eyeballing Opportunities and Mitigating Threats - Global oil market playbooks are changing as countries look out for their interests in the glacial movement of oil prices and the market's recent choppiness. India, for example, recently announced its decision to diversify its oil import markets as it angles towards lower average energy prices. Source Adesola Borokinni and Tosin Ige, Proshare Research Read More

Guiding PMS Prices Was Only Indicative of Current Market Trends - PPPRA - The PPPRA by this release wishes to state clearly that the Guiding Prices posted on our website was only indicative of current market trends and do not translate to any increase in pump price of PMS. Source PPPRA Read More

Brent Back Above $69 As Bullish Sentiment Holds - OIR 120321 - Oil prices regained lost ground towards the end of the week, as tight supplies are forcing a global drain in inventories. "Overall, we are bullish on oil demand continuing its upward trajectory in tandem with vaccine programs and the resumption of economic activities," Source Tom Kool of Oilprice Read More


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What to Expect From The Markets This Week - 150321 - According to the NBS, Nigeria recorded a trade deficit of N7.37trn and a total trade of N32.42trn in 2020, Nigeria's total merchandise trade stood at N9.12trn, an increase of +8.9% when compared to Q3 2020 but a decline of -9.9% when compared to Q4 2019. Source Proshare Content Read More

Wall Street Week Ahead: Energy Shares Look for Next Spark as Investors Eye Recovering Economy - Investors betting on U.S. energy shares have enjoyed a blistering rally, as the sector leads a move into value and economically sensitive stocks that has gripped the equity market. Source Reuters Read More

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NBCC Trade Expo: Nigeria Committed to Increasing Trade Relations with the UK - The Nigerian government is committed to implementing reforms, that can enhance trade facilitation with leading global economies like the United Kingdom. Otunba Niyi Adebayo, the Minister for Industries, Trade, and Investments made this point as a keynote speaker at the 2021 Nigeria-Britain Trade and Investment Expo which discussed the theme "Unlocking the Future of Anglo-Nigeria Trade". Source WebTV Read More

Corporate Anti Bribery and Corruption Compliance Capacity Survey Report - Entrepreneurs are the engine of growth in most thriving economies. Their ideas and innovations boost productivity and improve standards of living thus making the private sector the drivers of economic growth in many nations. Source CIPE Read More

Gridlock: NPA Assigns Specific Purposes to 17 Truck Parks - The Nigerian Ports Authority has designated 17 trucks parks as batching points for all trucks doing business at the Lagos ports. According to a statement signed by the Assistant General Manager, Corporate and Strategic Communications Division of the NPA, Ibrahim Nasiru, on Friday, the categorisation of the parks will deepen the electronic truck call-app. Source Punch Read More

BDCs Link Forex Speculators to Naira Crash to N485/$1 - The continued fall of the naira at the parallel market and Investors' and Exporters' (I&E) Forex window has been linked to currency speculators hoarding dollars to profit from the currency crisis. Source The Nation Read More

Ngozi Okonjo-Iweala Arrives in Nigeria on a 4-Day Visit to Hold Talks with President Buhari, Stakeholders on Reviving the Economy - Okonjo-Iweala's four-day visit to Nigeria is not just about theatrics. According to her, the objective of her visit was to see how the WTO could better assist Nigeria and her entrepreneurs in improving the economy. Source Business Insider SSA Read More

U.S. Producer Prices Rise; Consumers' Inflation Expectations Ease - U.S. producer prices increased strongly in February, leading to the largest annual gain in nearly 2-1/2 years, but considerable slack in the labor market could make it harder for businesses to pass on the higher costs to consumers. Source Reuters Read More

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Internet Penetration Grew to About 43.3% in 2020 - Internet penetration has gained some ground in Nigeria prior to the COVID-19 pandemic with 33% penetration at the end of 2019 which according to available data grew by 10% to about 43.3% by end of 2020. Source Dr Segun Aina Read More

Cybersecurity and the Public Good Argument - Increased internet connectivity globally means more and more businesses and individuals are increasingly reliant on online activity and transactions. COVID-19, and the resultant need for businesses to work remotely, accelerated this shift. Source FDC Read More 

Cryptocurrency Ban and its Economic Implications - In the last four years, cryptocurrencies, especially Bitcoin have become ubiquitous, prompting both global and domestic monetary authorities to devise a means to regulate and accept their usage. Source FDC Read More

N42bn Debt: FG Stops Telcos from Disconnecting USSD Services - The Federal Government, on Saturday, asked telecommunication operators to put on hold, their impending suspension of Unstructured Supplementary Service Data services over a N42bn debt owed by banks. Source Punch Read More

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