Nigeria in 1min: Economic, Business and Financial Headlines - 021221


Thursday, December 02, 2021 / 5:54 AM / By News Aggregator / Header Image Credit: MTN Nigeria


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  COVID-19 Health Updates

  • 1st of December 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 214,270 cases (New: 52)
  • Discharged: 207,312
  • Deaths: 2,978 (New: 1)

Source: NCDC Read More


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Rising Cooking Gas Price: Any Hope in Sight? - According to the National Bureau of Statistics' (NBS) Liquefied Petroleum Gas Price Watch report, the cost of refilling the 5kg cooking gas cylinder rose by 9.6% m/m to N2,627.9 in Oct-2021 from N2,397.6 and by 34.5% y/y from N1,953.7 in Oct-2020. Source United Capital Research Read More

Charting the Net Zero Journey - In 2015, the United Nations Climate agreement set out a global framework to avoid dangerous climate change by limiting global warming to well below 2oC and pursuing efforts to limit it to 1.5oC. This would be akin to going back to the pre-industrial years. Source Sarmad Lone Read More

External Reserves Lost $610m in Nov, CBN Battles to Save Naira - The nation's external reserves fell by $610m last month, figures obtained from the Central Bank of Nigeria on Thursday revealed. The reserves dropped to N$41.22bn as of November 29 from $41.83bn on October 29. Source Punch Read More

Share of Domestic Borrowings in Sovereign Debts Hit 50%, Says IMF - The International Monetary Fund (IMF), yesterday, expressed concern over rising sovereign domestic debt, which is said to have hit 50 per cent of total public debt stock at the end of last year. Source Guardian Nigeria Read More

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Investors Lose N409.55bn, NGXASI Dips by -1.81% as Sell Pressure Persists - Equities market closed on a negative note, as NGXASI depreciated by -1.81% to close at 42,463.16 basis points as against -0.05% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +5.44%. Source Proshare Markets Read More

Ten (10) Takeaways from the First NGX Capital Market Conference - I was literally glued online for the complete more than six hours and I can say it was worth my while. I confess having confided in a close and top market functionary friend that this just might end up being another talking shop. I was however thoroughly disappointed. Source Akin Adeniyi, CIPM Read More

NGX Remains Preferred Listing Destination, Facilitates MTN Public Offer - Market stakeholders were excited to learn last week that MTN Nigeria Communications (MTNN) Plc is taking advantage of this opportunity and has obtained the approval of the Securities and Exchange Commission (SEC) for the offer for sale of up to 575 million ordinary shares in MTNN held by the MTN Group. Source NGX Read More


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UBA Group Dominates the 2021 Banker Awards, Wins 'African Bank of the Year' - Africa's global bank, United Bank for Africa (UBA) Plc yet again, reaffirms its leadership position across Africa, as the bank has been globally recognised as the African Bank of the year 2021 by the Banker Magazine, a leading global finance news publication published by the Financial Times of London. Source UBA Plc Read More 

FBNQuest Capital Limited Appoints Abdullahi Ali Gombe as Independent Non-Executive Director - FBNQuest Capital Limited a subsidiary of FBN Holdings Plc has announced the appointment of Alhaji Abdullahi Ali Gombe, MNI as an Independent Non-Executive Director. This comes following the receipt of relevant regulatory approvals. Source FBNQuest Read More

FG Expects New Oil Projects Amid $42bn Deals - The Federal Government has said it is bullish that many oil and gas projects will commence in the country, following the signing of over $42bn worth of investment agreement recently by various Nigerian entities. Source Punch Read More

IOCs Bank on PIA for Increased Investment Inflows, Opportunities in Nigeria's Oil, Gas Sector - For the umpteenth time, the international oil companies (IOCs) operating in Nigeria have restated their confidence that the advent of the Petroleum Industry Act (PIA) will trigger an increase in investment inflows and opportunities in the country's petroleum industry. Source THISDAYLIVE Read More

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Africa Data Centres Unveils New 10MW Data Centre in Lagos - Africa Data Centres, the largest network of interconnected, carrier- and cloud-neutral data centre facilities on the continent, is pleased to announce that it has officially opened its new 10MW data centre facility in Lagos, Nigeria. Source Africa Data Centres Read More

Ericsson Predicts 4.4bn Global 5G Subscriptions by 2027, Says Mobile Data Traffic Increased 300-fold in 10yrs - Relying on global trends, Swedish multinational networking and telecommunications company, Ericsson has forecasted that global 5G subscriptions would reach 4.4 billion in 2027. Source THISDAYLIVE Read More

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Unity Bank Launches Yanga Account in Ibadan to Promote Over 5 million Women MSMEs in South W. - Nigerian Retail Lender, Unity Bank Plc is set to engage no fewer than 5 million Micro, Small and Medium Enterprises (MSMEs) being operated by women in the South-West region, even as Sola Sobowale, the Brand Ambassador, asserts that no women will be left behind as the Bank launches Yanga Account in Ibadan. Source Unity Bank Read More


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