Nigeria in 1min: Economic, Business and Financial Headlines - 190721

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Monday, July 19, 2021 / 6:00 AM / By News Aggregator / Header Image Credit:@jidesanwooluofficial

 


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COVID-19 Health Updates

  • 18th of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 169,532 cases (New: 203)
  • Discharged: 164,699
  • Deaths: : 2,127 (New: 1)

Source: NCDC Read More


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PROSHARE ECONOMY

Headline Inflation Increases by 17.75% YoY in June 2021, 0.18% Lower Than May 2021 Rate - NBS - The consumer price index, (CPI) which measures inflation (rate of change in the increase in prices) increased by 17.75 percent (year-on-year) in June 2021. Source by NBS Read More

Average Prices of PMS, AGO, HHK and Cooking Gas - June 2021 - LPG Price Watch June 2021 Average price paid by consumers for premium motor spirit (petrol) increased by 28.49% year-on-year and decreased month-on-month by -1.46% to N165.61 in June 2021 from N168.06 in May 2021. Source NBS Read More

Backward Integration: CBN Clears Dangote, BUA on Sugar Importation into Nigeria - The Federal Government of Nigeria under the National Sugar Development Council established the Nigerian Sugar Master Plan to encourage and incentivize sugar refining companies in their Backward Integration Program (BIP) for local sugar production. Source CBN Read More

In Defense of Press Freedom; Resisting the Noose of Autocracy - There comes a time when governments must realize their mortality and understand that they are a part of a process that leads society along a path of higher socioeconomic aspirations. Source by Proshare Editorial comment Read More

Nigeria Records N3.9tn Agric Trade Deficit in Four Years - Nigeria's imports of agricultural goods between January 2017 and March 2021 surpassed its exports in the period by N3.9tn. The total value of trade in agricultural goods in the period under review was N6.2tn, comprising N5.04tn imports and N1.14tn exports, with a trade deficit of N3.9tn. Source Punch Read More

OPEC Increases Nigeria Output to 1,829,000mb/d from April 2022 - The Organisation of Petroleum Exporting Countries (OPEC) has increased Nigeria's crude oil production output to 1,829,000 barrel per day from April 2022 to May 2022, Nigeria's June quota was 1.554mb/d. Source The Nation Read More

 

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PROSHARE MARKETS

What To Expect From The Markets This Week - 190721 - According to consumer price index, (CPI) data released on Friday, headline inflation for the month of June 2021 was 17.75 % (year-on-year). This is 0.18 percentage points lower than the rate recorded in May 2021 (17.93)%. Source Proshare Content Read More 

South African Riots Show Link Between Political and Fiscal Risk - Fitch Ratings believes that the direct economic impact of riots in South Africa following the arrest of former president Jacob Zuma will be limited for the sovereign's creditworthiness. However, the violence highlights tail risks to social and political stability and could affect fiscal policy. Source Fitch Ratings Read More

Dangote Cement Becomes First Nigerian Company to Report its Results Using XBRL - Dangote Cement has become the first Nigerian listed company to report its financial results using IFRS taxonomy. It announced that its financial information has been made available to investors in eXtensible Business Reporting Language (XBRL) format using the IFRS taxonomy.  Source Dangote Cement Read More

FMDQ Exchange Reiterates its Support for the Development of the Nigerian Green Bond Market - Globally, the green bond market has shown exponential growth as corporate entities and governments are raising funds from the debt capital markets (DCM) to finance environmentally friendly projects to support the development of their countries. Source FMDQ Read More


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PROSHARE BUSINESS

FCMB Limited Announces Appointment of Mrs. Oluwatoyin Olaiya as ED, Risk and Compliance - The Board of Directors of First City Monument Bank Limited (the Bank) have announced the appointment of Mrs. Oluwatoyin Olaiya as Executive Director, Risk & Compliance. Source by FCMB Read More

EGMarkets Celebrates 5 Years of Excellence - Eagle Global Markets, the first brokerage firm by Africans for Africans, has achieved a new milestone; 5 years of delivering excellence in the online brokerage space in the country. Source Eagle Global Markets Read More

Ecobank Celebrates Nigerians In The Diaspora; Announces Zero Fees for Transactions on Rapidtransfer - In commemoration of this year's National Diaspora Day event, Ecobank Nigeria  is joining the rest of the country to celebrate Nigerians in the diaspora by making transactions on its proprietary money transfer app, Rapidtransfer, free of charge. Source Ecobank Read More


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Reps, DPR Square up Over Oilfield Revocation, Awards - The House of Representatives' Committee on Public Petitions and the Department of Petroleum Resources (DPR) are at daggers drawn over Dawes Island marginal field lost by Eurafric for holding the national asset without production and making it unviable for 17 years. Source The Nation Read More

OPEC+ Agrees Oil Supply Boost After UAE, Saudi Reach Compromise - OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2-year highs as the global economy recovers from the coronavirus pandemic. Source Reuters Read More

 

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PROSHARE TECHNOLOGY   

Cisco Expresses Interest in Nigeria's Digital Economy - The management team of Cisco Africa has expressed interest in Nigeria's digital economy to help in boosting the digitalisation process. Cisco's Senior Vice President, Public Policy and Governmental Affairs for Europe, Middle East, Africa and Russia, Ms Pastora Valero, disclosed this while speaking at a virtual meeting initiated by Cisco recently, which had in attendance the Minister of Communications and Digital Economy, Dr Isa Pantami. Source Punch Read More

Biden Battles Russian Hacking Groups With Restrictions On IT Firms -  The United States on Friday took a new stab at Russia's cybersecurity industry, restricting trade with four information technology firms and two other entities over "aggressive and harmful" activities - including digital espionage - that Washington blames on the Russian government. Source Reuters Read More

 

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PROSHARE FINANCE

FBNQuest Managers Explore the Wins, Gaps and Capital Sweet Spots in Halal Investments - As the Halal industry evolves across the globe, with opportunities for deepening the non-interest financial market, FBNQuest experts recently explored the "The Wins, Gaps and Capital Sweet Spots" in the non-interest capital and money markets. Source by Bukola Akinyele-Yisau Read More

Nneka Onyeali-Ikpe Advocates for Financial Education and Inclusion for Children - Parents have been urged to invest the necessary time and resources in the development of their wards in order to help them be better positioned for opportunities in the future. Source by Fidelity Bank Read More

COVID-19 Third Wave: PSC Puts Six States And FCT on Red Alert, Recommends Preventive Measures - Following the confirmation of the Delta Variant of COVID-19 and the rising number of infections and hospitalization in the country, the Presidential Steering Committee on COVID-19 (PSC), has put six States and the Federal Capital Territory (FCT) on red alert as part of the preventive measures against a third wave of the pandemic. Source Presidential Steering Committee on COVID-19 Read More

CDC and Texas Confirm Monkeypox In US Traveler from Nigeria - The Centers for Disease Control and Prevention (CDC) and the Texas Department of State Health Services confirmed on July 15 a case of human monkeypox in a U.S. resident who recently traveled from Nigeria to the United States. The person is currently hospitalized in Dallas. Source US Centers for Disease Control and Prevention Read More


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