Nigeria in 1min: Economic, Business and Financial Headlines - 071021


Thursday, October 07, 2021 / 6:12 AM / By News Aggregator / Header Image Credit: ASO Rock Villa


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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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Fidelity Bank Paves the way for Corporate Contribution to Nigeria's Non-Oil Sector Development - Data from the Policy Development Facility (PDF) Bridge Programme indicates that Nigeria's dependency on oil exports for government revenue (80%) and foreign exchange earnings (87%) has long been at odds with the sector's contribution of just 8.33% to the country's Gross Domestic Product (GDP). Source Fidelity Bank Read More

Crude Oil Price Continues to Rise - In the past week, the crude oil market has continued to gain momentum, as both Brent and West Texas Intermediate recorded an average of 5.1% rise in benchmark prices to US$82.52 and US$78.84 per barrel, respectively. Source CSL Research Read More

Inflation Scares in an Uncharted Recovery - The economic recovery has fueled a rapid acceleration in inflation this year for advanced and emerging market economies, driven by firming demand, supply shortages, and rapidly rising commodity prices. Source Francesca Caselli and Prachi Mishra, IMFBlog Read More 

Dangote Cement, MTN Pay Highest Income Tax to FG in 2020 - Dangote Cement Plc has emerged as the highest corporate income taxpayer and biggest employer of labour in the country for the year 2020. The foremost indigenous cement manufacturer came first among top 100 elite companies listed on the Nigeria Exchange (NGX) posting into the coffer of the federal government a princely sum of N97.24billion in the year. Source Dangote Group Read More

Malami: FG Ready to Challenge States at Supreme Court Over VAT - Abubakar Malami, attorney-general of the federation (AGF), says the federal government is ready to challenge states at the supreme court over the collection of value-added tax (VAT). Source TheCable Read More

FEC Approves Proposed N16.39trn 2022 Budget - The Federal Executive Council (FEC) has approved the 2022 appropriation bill for an aggregate expenditure of N16.39 trillion. The FEC gave the approval at its weekly meeting presided over by President Muhammadu Buhari on Wednesday. Source TheCable Read More

N' Assembly Passes Revised 2022-2024 Fiscal Framework - The two chambers of the National Assembly Wednesday approved President Muhammadu Buhari's revised proposal of the 2022-2024 Medium Term Expenditure Framework (MTEF-FSP), which also okayed N16.39 trillion federal budget proposal for 2022. Source THISDAYLIVE Read More

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Investors Gain N25.29bn as NSEASI Inches Up by 0.12% Amid Negative Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.12% to close at 40,765.20 basis points as against +1.18% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.23%. Source Proshare Markets Read More 


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Stakeholders Highlight ESG, Diversity and Digital Transformation in Corporate Governance - At the 2021 Annual Society for Corporate Governance Nigeria conference, stakeholders believed the nation had a lot to gain from fully adopting the new International Corporate Governance Network (ICGN) principles and the emerging trends in the environment, society, and governance (ESG), diversity and digital transformation. Source Ottoabasi Abasiekong for WebTV Read More 

PIA: Senate Confirms Board Members of Upstream Regulatory Agency - The Senate, on Wednesday, confirmed the appointment of board members of the Nigerian Upstream Regulatory Commission, a new agency created to regulate the upstream sector of the petroleum industry. Sourc LeadershipNG Read More

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What is a Bitcoin Hashrate? - As noted by the Bitcoin experts at SoFi Invest, this a Bitcoin Hashrate is, "the amount of computing and process power being contributed to the network through mining." Sponsored Post by Julian Carter Read More 

Google to invest $1b in Africa - Search Engine giant, Google Wednesday announced it would inject up to $1billion into the African technology ecosystem. This is also as it revealed plans to land another submarine broadband cable which will run across Nigeria to other five African countries and connect them to Europe. Source Vanguard Read More

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Making Money as a Short-Term Investor - If you are looking to invest some money that you intend to use in the not-so-distant future, then you face the challenge of the delicate balance between making a decent return on your investment and ensuring that you can get all of it back when you need it. Source FBNQuest Read More 

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