Nigeria in 1min: Economic, Business and Financial Headlines - 011020

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Thursday, October 1, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Proshare Ecographics


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COVID-19 Health Updates

  • 30th of September 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 58,848 cases (New: 201)
  • Discharged:  50,358
  • Deaths: : 1,112 (New: 1)

Source: NCDC Read More


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PROSHARE ECONOMY 

PIB: Will the Jinx be Broken This Time Around? - The Petroleum Industry Bill (PIB) was first introduced to the National Assembly in December 2008. A presidential committee set up in 2007 to look into the oil and gas sector came up with this bill, which aims to increase transparency at the NNPC and to increase Nigeria's share of oil revenue. Source CSL Research Read More

2,080 Road Traffic Crashes Occurred in Q2 2020 - NBS - The Q2 2020 road transport data reflected that 2,080 road crashes occurred in Q2 2020. Speed violation is reported as the major cause of road crashes in Q2 2020 and it accounted for 47% of the total road crashes reported. Source NBS Read More 

Fitch Revises Nigeria's Outlook to Stable, Affirms at 'B' - Fitch Ratings has revised the Outlook on Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at 'B'. Source Fitch Ratings Read More

FEC Okays N13.08tn 2021 Budget Estimate - The Federal Executive Council has approved a budget estimate of N13.08tn for the 2021 fiscal year. The fiscal document was approved at a meeting of the council on Wednesday presided over by the President, Major General Muhammadu Buhari (retd.). Source Punch Read More

Senate Bill Seeks First Line Charge for SWF - The Senate on Wednesday passed for second reading, a bill seeking to amend the Act on the allocation of revenues which accrued to the federation account. Source Punch Read More

 

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PROSHARE MARKETS 

ACCESS Obtains CBN's Approval to Restructure as a Holding Company - Access Bank Plc ("Access Bank" or "the Bank") announces today it has received the Central Bank of Nigeria's Approval-in-Principle for the Bank's restructuring to a holding company ("HoldCo"). Source Read More

Investors Gain N116.72bn, NSEASI Inches Up by 0.83% Amid Negative Market Turnover - Equities market closed today on a positive note, as NSEASI appreciated by +0.83% to close at 26,831.76 basis points as against +0.39% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -0.04%. Source Proshare Markets Read More

FMDQ Clear Landmarks as Nigeria's Premier CCP - The Nigerian financial markets recorded a ground-breaking and game changing milestone following the successful registration of FMDQ Clear Limited ("FMDQ Clear") by the Securities and Exchange Commission ("SEC" or the "Commission") on September 29, 2020 to become Nigeria's premier Central Counterparty ("CCP"). Source FMDQ Read More

 

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PROSHARE BUSINESS

NEPZA boss promises to use FTZs, SEZs rejuvenate nation's economy - Abuja-Professor Adesoji Adesugba, Managing Director, Nigeria Export Processing Zones Authority, NEPZA, has said the authority will use Free Trade Zones, FTZs, and Special Economic Zones, SEZs, to rejuvenate national economy. Source Vanguard Read More

Nigeria's Exports Hit $6.99 Billion as Experts Strategized to Boost Trade - Nigeria's export value to African countries, pushed beyond $6.99 billion in 2018, while the rest of the world totaled $45.92 billion during the same period. The Chief Executive/Executive Director, Nigeria Export Promotion Council (NEPC), Segun Awolowo, disclosed this while speaking at the Ecobank Digital Series virtual meeting on Africa Trade Conference 2020. Source The Guardian Nigeria Read More

Global Shares Extend Gains on U.S. Stimulus, Upbeat Data - Global shares tried to extend gains on Thursday on renewed hopes for fresh U.S. stimulus measures, but mounting uncertainty ahead of America's presidential election and technical problems in Japan kept gains in check. Source Reuters Read More

 

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PROSHARE FINANCE 

Stakeholders Advocate for the Adoption of Innovative Insurance Products In Nigeria - Stakeholders have advocated for the adoption of innovative insurance products that can support sustainable development in Nigeria. This was part of the key discussions at the 2020 edition of the "Insurance September 2020" event which discussed the theme "Insurance and Sustainability". Source WebTV Read More 

 

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