Nigeria in 1min: Economic, Business and Financial Headlines - 190421


]Monday, April 19, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: WebTV


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COVID-19 Health Updates 

  • 18th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 164,233  cases (New: 26)
  • Discharged: 154,332
  • Deaths: : 2061 (New: 0)

Source: NCDC Read More

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N1.31trn Generated as IGR in 2020 - NBS - The National Bureau of Statistics Published Internally Generated Revenue at State level for Fourth Quarter and Full Year 2020. The 36 states and FCT IGR figure hits N1.31trn in 2020 compared to N1.33trn recorded in 2019. This indicates a negative growth of -1.93% year on year. Source NBS Read More

Headline Inflation Crosses the 18% Threshold - Nigeria's headline inflation increased sharply to 18.17% in March, the highest level since January 2017. It is also the 19th consecutive monthly increase. The continued rise in the general price level suggests that price inflation is not transient but now more persistent. Source FDC Ltd Read More

CBN, Others Need to Prioritise the Gas industry Underpinned by Concessional Interest Rates - The Nigerian Gas Association (NGA) hosted the second edition of its Industry Multilogues, rendered through its 12th biennial International Conference & Awards platforms, on February 25 and 26, 2021. Source The Nigerian Gas Association Read More

Team Proshare Emerges the Corporate Winner of the 2021 Nigerian-British Golf Tournament - Team Proshare, won the first (1st) place in the 2021 edition of the Nigerian-British Chamber of Commerce Golf Tournament (Corporate segment) hosted at the prestigious Ikoyi Club 1938 on Friday, April 16, 2021. Source Ottoabasi Abasiekong for WebTV Read More

Average Fare for Bus Journey Within City Increased by 4.42% MoM in March 2021 - NBS - The Transport fare Watch report for March 2021 covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; airfare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and waterway passenger transport. Source NBS Read More 

World Bank, FG Move to End Fuel Subsidy - The Federal Government and the World Bank have discussed further reforms to eliminate fuel and electricity subsidies in the country. The Nigerian government had in March 2020 removed petrol subsidy after reducing the pump price of the product to N125 per litre from N145 on the back of the sharp drop in crude oil prices. But it re-emerged this year following the significant rise in oil prices. Source Punch Read More

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Dangote Vs BUA; The Sugar Wars Unredacted - April the beginning of the second quarter (Q2) of the year is usually a time when companies crank up their businesses after a slow start to the year. However, for Nigeria's sugar industry the month of April has become a bogeyman with two indigenous companies in the business of sugar processing throwing bloody punches at each other. Source TheAnalyst, Proshare Research Read More

What to Expect from The Markets This Week - 190421 - According to a statement by the Bank of Industry Group, it recorded a +78.8% rise in its assets from N1.04trn in 2019 to N1.86trn in 2020. The rise was attributed to the successful debt syndication of 1bn Euros and $1bn that was concluded in March and December 2020, respectively. Source Proshare Content Read More

Topsy-Turvy Session to Close the Week - The FGN Bond market closed out the week on a volatile note, with trade activity pushing yields in both directions in a single trade session. The early hours of the session followed the bearish pattern for most of the week, with wide bid-and-offer spreads quoted across the benchmark curve. Source Zedcrest Capital Read More 

SEC: Capital Market Operators Get April 30 Deadline to Renew Licences - THE Securities and Exchange Commission, SEC, has given Capital Market Operators, CMO, April 30, 2021, as deadline to renew their operation licences. Source Vanguard Read More

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Your People, Your Biggest Brand - As the period from the mid-1980s to the present day has defined the contemporary global economy, corporations worldwide are engaged in the battles for market and mind share, competitive positioning, and global dominance. Source Joshua Ademuwagun, Head of Advisory, People Transformation, Phillips Consulting  Read More

Trade Hub Launches a Virtual DealRoom Connecting Investors to Fast-Growing Impact Businesses - The West Africa Trade & Investment Hub (Trade Hub) has unveiled a Virtual DealRoom giving global investors information and access to the Trade Hub's growing pipeline of impact business opportunities. Source Trade Hub Read More

Existing Companies and the Requirements of Issued Share Capital Under the CAMA 2020 - All Existing Companies, Esteemed Customers and the General Public are hereby informed that the Minister of Industry, Trade and Investment has approved an amendment to Regulation 13 of the Companies Regulations, 2021. Source CAC Nigeria Read More

France to Support Nigeria's Creative Industry - The French Minister for Foreign Trade and Economic Attractiveness, Mr Franck Riester, has said the French government will support Nigeria through its foreign policy in supporting cultural and creative industries in partner countries. Source Punch Read More

Minister Assures on Creation of 100m Jobs - The Minister, Industry Trade and Investment Otunba Adeniyi Adebayo has assured that the federal government is keened on creating at least 100 million jobs before the expiration of this regime. Adebayo spoke during the tour of inspection of the Industrial Training Fund (ITF)'s new multi-million naira building for the organisation. Source The Nation Read More

Osinbajo Seeks Fair Transition Towards Global Net-Zero Emissions Target - Vice President, Prof. Yemi Osinbajo yesterday stated that Nigeria is on the path of ensuring continued access to affordable, reliable energy for its populace, and transitioning to the use of cleaner energy in line with the net-zero emissions global target. Source The Guardian Nigeria Read More

Canada's Budget to Include Pandemic and Childcare Supports, Luxury Tax - Canada will present a budget on Monday with billions of dollars for pandemic recovery measures as COVID-19 infections skyrocket, C$2 billion ($1.6 billion) toward national childcare, and new taxes on luxury goods. Source Reuters Read More

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Tradepass to host Ethiopia's State Minister of MiNT at BYTES '21: LIVE - Africa - Despite the setbacks from COVID19, the Africa's digital economy is on track to expand in the coming years, transforming the way businesses and government functions with the potential to reach $180 billion by 2025, according to the Google and IFC report. Source Tradepass Global Read More

Examining the legality of Non-Fungible Tokens (NFTs) - $69,000,000 (sixty-nine million US Dollars). That is how much the first Non-Fungible Token ("NFT") was sold at an auction house1.  The creator of the NFT, 'Beeple' (Mike Winkelmann), is now one of the most expensive artists in the world. Source Oluwapelumi C. Omoniyi (AELEX) Read More

Telcos Seek CBN, NCC Intervention Over Alleged USSD Debt - Telecommunications companies are calling for the intervention of the Central Bank of Nigeria and the Nigerian Communications Commission over the lingering N42bn indebtedness of Deposit Money Banks to telcos. Source Punch Read More


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Five (5) Key Lessons from the M36 Webinar on Investing in Today's World - With the unprecedented times brought on by the COVID-19 pandemic, more individuals are asking, "What next? What are the opportunities as the world slowly recovers from the impact of the crisis?" Source M36 Read More 

How Women Participation Could Deepen Halal Trade in Nigeria - Sayarun Nessa - An increase in women's participation in the Halal trade has the potential of deepening the market in Nigeria. Mrs. Sayarun Nessa, Founder Halal Commerce made this point in a conversation on the topic "Women in Trade and Commerce". Source Bukola Akinyele-Yisau  for WebTV Read More

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