Nigeria in 1min: Economic, Business and Financial Headlines - 061021

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Wednesday, October 06, 2021 / 6:10 AM / By News Aggregator / Header Image Credit: WebTV

 

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COVID-19 Health Updates

  • 5th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 206623 cases (New: 344)
  • Discharged: 194,475
  • Deaths: 2,731 (New: 8)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Oil Prices Charge Higher as Bullish Sentiment Builds - OIR 051021 - The October OPEC+ Ministerial Meeting brought no surprising announcements as all participating states agreed that sticking to the pre-charted course would be in the collective interest of the group. Source Tom Kool of Oilprice Read More

Budget: FG Lowers Revenue Projection by N342bn, Seeks MTEF Amendment - The President, Major General Muhammadu Buhari (retd.), will, on Thursday, present the 2022 budget to a joint session of the National Assembly. Source Punch Read More

Buhari to Present Nigeria's 2022 Budget Thursday - President Muhammadu Buhari is expected to present the budget estimates for the 2022 fiscal year to a joint session of the National Assembly on Thursday. This was made known by the Deputy Senate President, Ovie Omo-Agege, during the plenary on Tuesday. Source Premium Times Read More

NEITI: Fed Govt Earns N39.648tr Revenue in Five Years - Nigeria Extractive Industries Transparency Initiative (NEITI) has said the total revenue accruing to the Federal Government in the last five years from all sectors is N39.648 trillion. The solid minerals sector, according to watchdog organization, contributed N308.43 billion, representing 0.78 per cent. Source The Nation Read More

 

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PROSHARE MARKETS

The September 2021 Nigerian Capital Market Service Report - Proshare - Nigerian Stock Market closed the month of September 2021 in the green zone as market maintained the positive sentiment witnessed in the previous month of August 2021. The NSEASI inched up by +2.55% as against +1.74% gain recorded in the month of August 2021 while the NASD USI closed southwards with -1.52% loss recorded at the end of the month under review as against -1.08% loss in August 2021. Source Research@proshareng.com Read More

Investors Gain N246.79bn as NSEASI Inches Up by 1.18%; YTD Return Turns Positive, Hits 1.11% - Equities market closed today on a positive note, as NSEASI appreciated by +1.18% to close at 40,716.66 basis points as against +0.05% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.11%. Source Proshare Markets Read More

Nigerian fixed Income Remains a Tough Sell - This year, the theme for the fixed income markets has been spread widening, with the average yield of FGN bonds expanding by 508bps YTD and the average yield on Treasury Bills (T-bills) expanding 482bps YTD. Source Coronation Research Read More

Airtel Africa and the 8.27% Minority Shares Buyback in Airtel Nigeria - Recently, Airtel Africa, the second-largest mobile operator in Africa by active subscribers, announced plans to buy back the 8.27% minority shareholdings in its subsidiary, Airtel Networks Limited (Airtel Nigeria). Source CSL Research Read More 

 

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PROSHARE BUSINESS

Yellen Warns US Debt Default Could Trigger Recession - US Treasury Secretary Janet Yellen warned Tuesday that a US debt default could trigger another recession, as an October 18 deadline approaches. "I totally expect it would cause a recession", Yellen said on CNBC, referring to what would be an unprecedented US default as lawmakers fight over raising the debt ceiling. Source Guardian NG Read More

Oil Hits $81 as OPEC+ Sticks to Output Deal - Oil prices crossed the $80 mark following the decision by the Organization of the Petroleum Exporting Countries (OPEC) yesterday, confirming it would increase monthly overall production of oil by 400,000 barrels per day (bpd) for the month of November. Source Guardian NG Read More

COVID-19: Global Airline Industry Sees $201bn In Losses - Airline losses from the coronavirus pandemic are set to surpass $200 billion as travel curbs weigh on corporate and long-haul demand well into 2022, according to the industry's main lobby. Source LeadershipNG Read More 

 

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PROSHARE TECHNOLOGY   

NCC Disqualifies Nigerians Below 18 Years from Getting SIM - The Nigerian Communications Commission has disqualified anyone below the age of 18 from registering and owning a Subscriber Identity Module in Nigeria. This is according to the draft copy of the modified Registration of Telephone Subscribers Regulations published on the commission's website. Source Punch Read More


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PROSHARE FINANCE

How Culture and Religion Can Deepen Insurance Penetration in Nigeria - To be honest, conventional insurance is not foreign to our culture or religion, it is the inability of the promoters to use the means our culture and religion provide that makes it seem very challenging and difficult to achieve a higher rate of insurance penetration in Nigeria. OpEd By Ekerete Ola Gam-Ikon Read More

Northcourt releases the H1'2021 Nigeria Real Estate Market Review - The announcement of a COVID-19 vaccine in December 2020 began the respite that the world needed. The changes to much of society had been several and simultaneous. Oil prices recovered more than was anticipated, due in part to conflict in the Middle East. Source Northcourt Read More 


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