Nigeria in 1min: Economic, Business and Financial Headlines - 030321


Wednesday, March 3, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @seyiamakinde

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COVID-19 Health Updates 

  • 2nd of March 2021: Nigeria COVID19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 156,496 cases (New: 479)
  • Discharged:  134,551
  • Deaths: : 1,923 (New: 8)

Source: NCDC Read More

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PMI Reading No 95: Above Water Again - Our manufacturing Purchasing Managers' Index (PMI), the first in Nigeria, made a good recovery from 44.5 to 53.0 in February. Our partner, NOI Polls, collects the data. An index is produced in advanced economies such as by the Institute for Supply Management (ISM) in the US. Source FBNQuest Research Read More

Politics and the Court of Appeal - OpEd by Dr Reuben Abati - It is most unfortunate that the proposed appointment of new judges for Nigeria's Court of Appeal has been controversial since the announcement of a shortlist in December 2020. The President of the Court of Appeal, Justice Monica Dongban-Mensem has now found herself in an uncomfortable situation where she has to defend the integrity of her Court. Source OpEd by Dr Reuben Abati Read More

Oil Markets on Edge Ahead of OPECplus Meeting - OIR 020321 - Oil prices pared gains at the start of the week, seemingly hitting a temporary high note. Traders are on edge as they away a decision from OPEC+ regarding the potential easing of production cuts. Source Tom Kool of Oilprice Read More

GTBank Macro-Economic and Banking Sector Themes for 2021 - The 'Haka' is a ceremonial dance of the Maori tribe of New Zealand usually performed in a group. It is characterized by energetic body movement, fierce facial expressions, and rhythmic loud chants. Maori mythology suggests that the Haka is a dance about the celebration of life. Source GTBank Read More


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NSE Launches e-Filing Portal, X-Filing, to Enhance Securities Listing - The Nigerian Stock Exchange (NSE or The Exchange) is pleased to announce the launch of its e-Filing Portal, X-Filing, on Tuesday, 2 March 2021. X-Filing, which comes on the back of the recent upgrade to the NSE Issuers' Portal, X-Issuer, is a fully integrated, secure web interface designed to enable the submission and processing of securities listing applications online. Source NSE Read More

Investors Lose N122.43bn as NSEASI Dips by -0.59% Amid Renewed Sell Pressure - Equities market closed today on a negative note, as NSEASI depreciated by -0.59% to close at 39,697.62 basis points as against +0.33% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -1.42%. Source Proshare Markets Read More

Repricing of Yields Reduces Activity Level in January 2021 - Based on the data released by the NSE on Domestic & Foreign Portfolio Investments for January 2021, total value fell 13.7% m/m to N232.5bn (US$590.8m) from N269.2bn (US$687.1m) in December 2020. Source CSL Research Read More


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Branch International Announces Dayo Ademola as Managing Director in Nigeria - Leading digital finance app, Branch International, announced the appointment of Dayo Ademola as Managing Director in Nigeria, effective immediately. Source Branch International Read More

TCN Achieves 5,801.6MW Peak Power Transmission - The Transmission Company of Nigeria on Tuesday announced a new peak power generation of 5,801.60 megawatts and stated that this quantum of electricity was transmitted to power distributors across the country. Source Punch Read More

Attah: It's Time to Monetise Nigeria's Gas Resources - The Managing Director of the Nigeria Liquefied Natural Gas (NLNG) Limited, Mr. Tony Attah, has stressed the need for Nigeria to urgently harness its abundant gas resources for national transformation before time runs out on the country. Source THISDAYLIVE Read More

Oil Slips on Fears Over Higher OPEC Supply, Slower China Demand - Brent crude dropped 14 cents or 0.2% to $63.55 a barrel by 1145 GMT, after losing 1.1% the previous day. U.S. West Texas Intermediate (WTI) crude fell 2 cents to $60.62 a barrel, having lost 1.4% on Monday. Source The Guardian NG Read More

U.S. Senators Refine Biden's $1.9 Trillion COVID-19 Bill, Push Pet Projects - Negotiations over President Joe Biden's $1.9 trillion COVID-19 relief bill go into overdrive this week as the U.S. Senate begins debate over the sweeping legislation and lawmakers jockey to include pet projects, while tossing others overboard. Source Reuters Read More

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