Nigeria in 1min: Economic, Business and Financial Headlines - 010121

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Friday, January 1, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates

  • 31st of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 87,510 cases (New: 1031)
  • Discharged:  73,713
  • Deaths: : 1,289 (New: 11)

Source: NCDC Read More


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PROSHARE ECONOMY

President Buhari Signs Budget 2021 into Law -President Muhammadu Buhari has today signed the 2021 Appropriation bill into law. The president also signed the 2020 finance bill that will take effect alongside the budget. Source Proshare Research Read More

Rice Production in Nigeria Now Competitive - According to news reports, Kebbi State Governor, Abubakar Bagudu, speaking during an interview on Wednesday gave a high rating to the quality of rice being produced in the country, noting that Nigeria is now competitive in the production of the commodity. Source CSL Research Read More

Nigeria's Debt Profile Rises to N32.2tn - Nigeria's public debt hit a total of N32.2tn at the end of September 2020, the Debt Management Office announced on Thursday. The figure implies that the nation's debt profile rose by N1.19tn between the second and third quarters of 2020. Source Punch Read More

Sanwo-Olu Signs N1.16tn 2021 Budget into law - Lagos State Governor, Mr Babajide Sanwo-Olu, on Thursday signed the 2021 Appropriation Bill of N1.164 trillion into law. Speaking during the signing at Lagos House, Marina, Sanwo-Olu said that the budget has a capital to recurrent ratio of 60:40. Source The Guardian Read More


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PROSHARE MARKETS

NSEASI Closes Year 2020 With 50.03% Gain, Hits 40,000 Psychological Line - Equities market closed today on a positive note, as NSEASI appreciated by +1.92% to close at 40,270.72 basis points as against +1.03% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +50.03%. Source Proshare Research Read More

Market Review and Round-Up of Corporate News Announced During The Week Ending -311220 - The equities market recorded positive performance - the listed equities market, NSEASI, recorded a +3.79% gain WoW while the NASD OTC closed positive with a +0.49% gain. Source Proshare Markets Read More


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PROSHARE BUSINESS

NIMASA DG Pledges to Promote Maritime Education - The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has promised to prioritise maritime education and ensure professionalism in the transport sector. Source THISDAYLIVE Read More

NAICOM Waives Enforcement of First Phase of Recapitalization - Following an Interim Injunction from the High Court to suspend the recapitalization of insurance companies, pending the determination of the suit challenging the process, the National Insurance Commission (NAICOM) said it has complied with the court order and will waive the initial mandate given to companies to meet up with half of the recapitalization directive by the last day of the year. Source Vanguard Read More

Oil Edges Higher, But Posts 20% Annual Drop in Tumultuous 2020 - Global crude prices edged higher on Thursday but lost more than a fifth of their value in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and sent oil markets reeling. Source Reuters Read More

 

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PROSHARE MSME

BOI Concludes US$1bn Syndicated Term Loan in the International Market - In line with the focus of President Muhammadu Buhari's administration to revitalise Nigeria's Industrial sector and create 10 million jobs by leveraging the Nigeria Industrial Revolution Plan and the Economic Recovery and Growth Plan, the Bank of Industry (BOI) has just successfully concluded a landmark US1bn loan syndication transaction. Source Bank of Industry Read More

 

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