Nigeria in 1min: Economic, Business and Financial Headlines - 020621


Wednesday, June 2, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: @dabiodunMFR


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COVID-19 Health Updates

  • 1st of June 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 166,534  cases (New: 17)
  • Discharged: 159,935
  • Deaths: : 2099 (New: 28)

Source: NCDC Read More

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The Death of Ahmed Gulak - OpEd by Dr. Reuben Abati - The cold-blooded murder of Hon. Ahmed Gulak, former Speaker of the Adamawa House of Assembly, former Special Adviser on Political Affairs to President Goodluck Jonathan, former national co-ordinator of the Goodluck Support Group (GSG) and former Governorship aspirant under the platform of the People's Democratic Party (PDP). Source OpEd by Dr. Reuben Abati Read More

Dapo Abiodun and Honour for Olusegun Osoba - OpEd by Dr. Reuben Abati - I was in Abeokuta on Tuesday, May 25, to attend the commissioning of a Press Centre at the Government Secretariat, Oke Mosan in honour of Chief Olusegun Osoba, two-time Governor of Ogun State (1992 - 1993) and (1999 - 2003). Source OpEd by Dr. Reuben Abati Read More

Brent Crude Oil Prices Hit 2-Year High - OIR 010621 - Oil prices rose by 1 percent early on Monday, driven by expectations that recovering demand with summer travel and reopening economies will easily accommodate the gradual increase in OPEC+ production. Source Tom Kool of Read More

N2.3trn External Loan: Senate Refers Buhari's Request to Committee - The Senate Tuesday referred President Muhammadu Buhari's request for N2.3trn external loan to fund the 2021 budget deficit to its committee on Local Debts and Foreign Loan for further legislative work. Source Thisday Read More

FG urges MDAs to Attract Foreign Investments - The Minister of Finance, Budget and National Planning, Zainab Ahmed has said it is important for government agencies to be committed to the pursuit of the earmarked 40 deliverables. Source Punch Read More

FG: $40bn Investments Needed to Boost Power Supply in Nigeria - The federal government has said that there's still a lot of financing gap in the country's power sector, requiring an immediate funding of $40 billion in the generation, transmission and distribution value chain. Source Thisday Read More

FG Opens Bids for Concession of 12 Highways, Pledges Transparency - The federal government Tuesday officially opened the bids for 12 major roads in line with the Highway Development and Management Initiative (HDMI), under a concession agreement, pledging to be fair and transparent during the exercise. Source Thisday Read More

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Q1 2021 GDP Growth will Woo New Issuers into the Nigerian Capital Market - Nigeria's Gross Domestic Product (GDP) growth for Q1 2021 showed a snatched rise of 0.51% which was slow compared to the 1.87% in Q1 2020 but could still be considered promising enough to encourage new issuers to the capital market. Source  Ottoabasi Abasiekong for WebTV Read More

VFD Group to Leverage 2020 Performance, Pays Dividend of 8.50k Per Share - The Board of the VFD Group at its 5th Annual General Meeting (AGM) assured shareholders that it will leverage on the 2020 financial year performance, to provide valuable financial market services. Source Ottoabasi Abasiekong for WebTV Read More

Investors Lose N12.26bn as NSEASI Dips Marginally by -0.06% Amid Positive Market Turnover - Equities market closed today on a negative note, as NSEASI depreciated by -0.06% to close at 38,414.37 basis points as against +0.47% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.61%.  Source Proshare Markets Read More


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Crowdyvest Reacts to SEC's Cease and Desist Order, Clarifies Position - The attention of Crowdyvest Victoria Island Multi-purpose Cooperative Society has been drawn to news circulating about a SEC issued Cease and Desist Order on one of its products "the Halal Fund". Source Crowdyvest Read More

Openness or Transparency in Data Processing - One of the side effects of the digital revolution has been the vast increase in the volume of digital data now being generated, characterized by the four "Vs"- volume, velocity, veracity and variety. Smart appliances have significantly changed the way that we interact with the world, and with one another, and this is becoming increasingly governed by data. Source  Ken, Thelma, & Rouna of Banwo & Ighodalo Read More

Oil Export Revenue Dropped by 98% In April -NNPC - The Nigerian National Petroleum Corporation has said crude oil export proceeds plunged by 98 per cent in April, compared to March. The NNPC said in a report that the total revenue from crude oil exports in April fell to N723m from the N35.72bn generated in March. Source Punch Read More

COVID-19 Vaccination: OPEC Projects Increase in Oil Demand - The Organisation of Petroleum Exporting Countries on Monday revised oil demand upwards following the progress in COVID-19 vaccination campaigns globally. OPEC Secretary-General, Mohammad Barkindo, announced the review for the upward demand for oil while delivering his opening remarks at the 52nd meeting of the Joint Technical Committee during a video conference. Source Punch Read More

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Digital Currency: A Right Move to be Adopted by the CBN? - At the last Monetary Policy Committee (MPC) meeting held on the 24th and 25th May 2021, the CBN governor, Godwin Emefiele, hinted at plans made by the Apex bank to issue the country's digital currency. Source CSL Research Read More

80% of Technology Investment Funding Going to Nigeria, Kenya, Egypt and South Africa - Africa's technology sector has thrived over the last decade, following funding by venture capital firms.  Technology firms turned the continent's challenges of weak infrastructure, low internet penetration and lack of financial access into opportunities using technological and innovative solutions to address challenges. Source FBNQuest Research Read More

FG Seeks Stakeholders' Support For egovernment Implementation - The Federal Government has expressed commitment to the implementation of the National eGovernment master plan urging stakeholders to support the plan for the benefit of the people. Source Guardian Read More

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New $50bn Health, Trade and Finance Roadmap to End the Pandemic and Secure a Global Recovery - Heads of International Monetary Fund, World Bank Group, World Health Organization, World Trade Organization issue extraordinary call for financing actions by government leaders to accelerate end to COVID-19 pandemic. Source WHO Read More 


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The TEF and DEG Partner to Empower 200 Additional Entrepreneurs Across Africa - The Tony Elumelu Foundation (TEF), Africa's leading philanthropy empowering young African entrepreneurs from all 54 African countries, has partnered with DEG, the German development financial institution supporting the private sector in emerging-market countries, to empower an additional 200 entrepreneurs across Africa. Source Tony Elumelu Foundation Read More

MSME Africa Celebrates 1st Anniversary, Organises MSME Business Pitch Contest - MSME Africa, the continent's leading news, opportunities, capacity development and resources platform for Micro, Small and Medium Enterprises, Entrepreneurs and Startups, has celebrated its first anniversary recently. Source MSME Africa Read More


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