Nigeria in 1min: Economic, Business and Financial Headlines - 040221

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Thursday, February 04, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates 

  • 3rd of February 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 134,690 cases (New: 676)
  • Discharged:  108,657
  • Deaths: : 1618 (New: 5)

Source: NCDC Read More


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PROSHARE ECONOMY

NESG Launches 2021 Macroeconomic Outlook, Emphasises Investment-led Growth - The Nigerian Economic Summit Group (NESG) recently released its macroeconomic outlook report for 2021 with the theme "4 priorities for the Nigerian Economy in 2021 and beyond." Source NESG Read More

Rising Inflationary Pressures Despite Weak Aggregate Demand - We are forecasting another jump in headline inflation to 16.2% in January 2021. This will be 0.45% higher than the December 2020 numbers. It is likely to be the 17th consecutive monthly increase and the highest level in nearly 4 years. Source FDC Ltd Read More

13% Derivation: Eight States Receive N6trn in 11 Years - Report - Eight oil-producing states received N6.589 trillion from the Federation Account under the 13 per cent derivation principle, between 2009 and 2019, with little or no impact on the lives of citizens of the states, according to a report published by ACIOE Associates. Source Vanguard Read More


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PROSHARE REGULATORS

SEC Releases New Rules and Amendments on Collective Investment Schemes - The Securities and Exchange Commission has released general rules for Collective Investment Schemes prescribing that all units/securities of a collective investment scheme shall be registered by the Commission. Source SEC Nigeria Read More

 

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PROSHARE MARKETS

The January 2021 Nigerian Capital Market Service Report - Proshare - Nigerian Equities Market closed the month of January 2021 in the green zone as market sustained the bargain hunting witnessed during the Q4 of the year 2020. The NSEASI inched up by +5.32% as against +14.92% gain recorded in the month of December 2020 while the NASD USI closed southwards with -1.04% loss recorded at the end of the month under review as against +0.10% gain in December 2020. Source Research@proshareng.com Read More

NCM 2020: Market Records 57 Gainers to 66 Losers in 2020 - At the close of trading activities in the Year 2020, the NSE market recorded fifty-seven (57) gainers to sixty-six (66) losers. SUNUASSUR and NEIMETH both top the list of best-performing stocks in the market with +400.00% and +259.68% gains respectively while FTNCOCOA, JAPAULOIL, and AIRTELAFRI followed closely to complete the top five list on the Nigerian bourse. See the table below for a full list of gainers in 2020. Source Proshare Research Read More

Investors Lose N22.90bn, NSEASI Dips by -0.10% as Market Sentiment Remains Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.10% to close at 42,000.01 basis points as against -0.74% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +4.29%. Source Proshare Markets Read More

S&P 500, Dow End Up for 3rd Day as Alphabet Jumps, Volatility Eases - The Dow and S&P 500 rose slightly on Wednesday, registering a third straight session of gains, with Alphabet Inc's shares hitting a record high following its strong quarterly results. Source Reuters Read More

 

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PROSHARE BUSINESS

DigiWomen Masterclass: A Digital Empowerment for Career Women and Businesses - To deepen digital education and widen the digital adoption net, FintechNGR is partnering with WIMBIZ to equip career women, professionals and students with foundational digital know-how on Saturday, 6th February 2021 through Zoom. Source FintechNGR Read More

Oil Price Rises Above $57, Highest in 12 Months - The international oil benchmark, Brent crude, rose more than two per cent on Tuesday, hitting a 12-month high after major crude producers showed they were reining in output roughly in line with their commitments. Source Punch Read More

COVID-19: Davos 2021 Summit Postponed till August - The World Economic Forum said on Wednesday that its annual meeting, which has already been postponed and moved from Switzerland to Singapore, will be pushed back again due to pandemic-related challenges. Source Punch Read More

Fed Govt to Establish Mining Clusters in Six Geopolitical Zones - The Federal Government is to establish artisanal and small-scale mining (ASM) clusters in the country's six geopolitical zones. This is part of efforts to revive and grow the economy for sustainable development through the mining sector. Source The Nation Read More

American Airlines Sending 13,000 Furlough Warnings as Pandemic Pain Persists - American Airlines said on Wednesday that some 13,000 employees are at risk of furlough when a U.S. aid package for airline workers expires on April 1, blaming slow vaccine rollouts and new international travel restrictions for dampening demand. Source Reuters Read More

 

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PROSHARE TECHNOLOGY   

FGN Extends NIN-SIM Integration Deadline to April 6, 2021 - Yesterday, the Federal Government of Nigeria (FGN) through the Ministry of Communication and Digital Economy announced the extension of the deadline for the ongoing National Identification Number (NIN) and Subscriber Identity Module (SIM) integration exercise. Source CSL Research Read More

West African Consumer Sentiment Presents More Positive Picture - Against the backdrop of the ongoing COVID-19 pandemic, the NielsenIQ Consumer Confidence Index (CCI) for West Africa has presented a more positive picture in Quarter 4, 2021 with Nigeria CCI at 114, reflecting a slow but steady return to levels above 120 seen during 2019, while Ghana continues to show an improvement to its current CCI of 123. Source NielsenIQ Read More

 

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PROSHARE FINANCE 

Fintech is the Future of Islamic Finance - Mufti Faraz Adam - Speaking at a recent forum on "The Future of Islamic Finance", Mufti Faraz Adam, CEO, Amanah Advisors, explained the philosophy and vision of Islamic Finance, and what it intends to achieve. Source WebTV Read More

 

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PROSHARE MSME

Tony Elumelu Foundation Seeks Africans for its 2021 Entrepreneurship Programme Application - The Tony Elumelu Foundation (TEF), Africa's leading philanthropy dedicated to empowering African entrepreneurs, is currently running applications on its TEFConnect digital platform (www.tefconnect.com) till March 31, 2021, for its 2021 TEF Entrepreneurship Programme. Source Tony Elumelu Foundation Read More

 

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