Nigeria in 1min: Economic, Business and Financial Headlines - 150421


Thursday, April 15, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @jidesanwoolu

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COVID-19 Health Updates 

  • 14th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 164,000 cases (New: 89)
  • Discharged: 154,270  
  • Deaths: : 2061 (New: 0)

Source: NCDC Read More

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Average Prices of PMS, AGO, HHK and Cooking Gas - March 2021 - Average price paid by consumers for premium motor spirit (petrol) increased by 18.76% year-on-year and month-on-month by 3.87% to N172.68 in March 2021 from N166.24 in February 2021. Source NBS Read More

Oil Prices Rangebound as the Industry Battles to Recover - OIR 130421 - Oil prices are still bouncing around depending on the news cycle, but with little definitive direction. In the words of Rystad Energy, "Prices are still locked in a sideways limbo, as bearish Covid-19 developments in some countries compete against bullish economic data and spending projections going forward in US and China,". Source Tom Kool of Oilprice Read More

Actual Expenditure of All 36 States Grew by 2.73% to N5.26trn in 2019 Fiscal Year - The cumulative actual expenditure for all 36 states grew by 2.73% from N5.12trillion to N5.26trillion between 2018 and 2019 fiscal years. Actual recurrent expenditure and loan repayments grew by 4.75% from N3.17trillion to N3.33trillion within the period. Source BudgIT Read More


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Investors Gain N17.96bn as NSEASI Inches Up by 0.09% Amid Negative Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.09% to close at 38,636.15 basis points as against -0.29% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.06%. Source Proshare Markets Read More

AFEX Commodities Index Continued Its Negative 2-week Experience as @ 090421 - The AFEX Commodities Index (ACI) fell further by 0.21% (W-o-W) closing the reporting week at 391.38 basis points because of the slight decline in paddy rice prices while other commodities remained flat. Source Kainosedge Consulting for AFEX Commodities Exchange Read More

GTBank Q4 20 Results Review: Conservative FY '21f PBT Guidance - GTBank management has guided to a FY '21 PBT of NGN243bn (+2% y/y). Excluding last year when PBT was broadly in line with guidance, the bank's earnings have exceeded guidance by at least c.5% over the last three years. Source FBNQuest Research Read More

Gross Official Reserves Declined by US$280m to US$34.82bn in March 2021 - CBN data show that Nigeria's gross official reserves declined by USD280m to USD34.82bn in March. In the name of accuracy, we should adjust this figure downwards to allow for the pipeline of delayed external payments Source FBNQuest Research Read More 

Coinbase Valued at $86 Billion in Choppy Nasdaq Debut - Coinbase Global Inc was valued at $86 billion at the end of its Nasdaq debut on Wednesday, in a choppy day of trading when its valuation went as high as $112 billion. Source Reuters Read More

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NESG Appoints New Board Members to Deepen Its Mandate Of Policy Advocacy In Nigeria - Leading policy think-thank the Nigeria Economic Summit Group, NESG as part of efforts to strengthen its activities and improve upon its mandate of driving advocacy for the nation's socio-economic space has rejigged its board. Source NESG Read More 

BUA, 27 Others Now Have Active Refinery Licences, Says DPR - The Department of Petroleum Resources said on Tuesday that 28 investors, including BUA Refinery & Petrochemicals Limited, have active refining licences. The DPR, in a new list as of April 2021 published on its website on Tuesday, said 28 licences were active while 29 were inactive. Source Punch Read More

DPR to Inaugurate Dispute Resolution Centre - The Department of Petroleum Resources (DPR) is set to flag-off the oil and gas industry Alternative Dispute Resolution Centre (ADRC). Precisely, the regulator will be inaugurating the advisory council and body of neutrals in Lagos tomorrow. Source THISDAYLIVE Read More

CAC Seeks FEC's Approval to Bar Non-Remitting Entities from Public Contracts - The outgoing Chairman, Corporate Affairs Commission (CAC) Governing Board, and Nigerian Ambassador designate to Spain, Mr. Ademola Seriki, has said the commission is presently seeking the approval of the Federal Executive Council (FEC), to ensure that registered entities do not benefit from government contracts unless they filed their annual returns. Source THISDAYLIVE Read More

AMCON to Float Holding Company for Aviation Assets - The Asset Management Corporation of Nigeria (AMCON) is floating a Holding Company (HoldCo) structure that will enable it warehouse and sell aviation assets for strategic exit from the sector. A top executive of the company said yesterday that the corporation has applied for Air Operating License (AOL) that would enable it commence the HoldCo structure once the license is approved. Source The Nation Read More

Labour threatens to shut ports over disregard for local content by IOCs - MARITIME Workers Union of Nigeria, MWUN, has threatened to shut down operations across all ports nationwide over alleged disregard of local content in the work-force by International Oil Companies, IOCs. Source Vanguard Read More

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CoinNewsExtra Makes History, Launches A Pioneer 24-7 Live Broadcasting TV App - CoinNewsExtra a Blockchain, Cryptocurrency, Fintech, and Emerging tech media platform headquartered in Lagos, Nigeria, recently made history by becoming the first media platform globally to launch a dedicated twenty-four-hour live stream TV App solely for blockchain, Fintech, crypto, and the AI industry. Source CoinNewsExtra Read More

CBN vs Cryptocurrency: The Gold Rush, Time for a Change? - Despite the Central Bank of Nigeria expressing its concern about Cryptocurrency in Nigeria, the cryptocurrency space has continued to roll out ingenious solutions to real-world problems. One of the most recent solutions via the platform is the advent of Non-Fungible Tokens (NFTs). Source CSL Research Read More

Binance and FTX List Coinbase Stock Tokens Ahead of Exchange's Nasdaq Debut - Major global cryptocurrency exchanges including Binance and FTX have announced the listing of Coinbase's stock token ahead of its direct listing on Nasdaq. According to a Wednesday announcement, Binance will list Coinbase's stock token (COIN) today, allowing its users to trade fractional Coinbase stock on the Binance website. Source Cointelegraph Read More

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