Nigeria in 1min: Economic, Business and Financial Headlines - 090321

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Tuesday, March 9, 2021 / 5:43 AM / By News Aggregator / Header Image Credit: Twitter; @dabiodunMFR

 

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COVID-19 Health Updates 

  • 8th of March 2021: Nigeria COVID19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 158,906 cases (New: 371)
  • Discharged:  138,502
  • Deaths: : 1,982 (New: 13)

Source: NCDC Read More

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PROSHARE ECONOMY

PPPRA: The LPG Onslaught - Stakeholders in the gas industry have lamented the increased burden caused by the actions of the PPPRA. The PPPRA is charged with the responsibility of monitoring, and regulating the supply and distribution, and determining prices. Source Proshare Research Read More

Nigeria Needs to Reposition Its Manufacturing Sector for Growth In 2021 - Rethinking Nigeria's industrialization strategy is one key step to repositioning the manufacturing sector for growth and stability in 2021. The Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, made this point while assessing developments in the nation's manufacturing sector. Source WebTV Read More

 

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PROSHARE REGULATORS

SEC Issues Guidance on the Implementation of Sections 60 - 63 of the ISA 2007 - The global corporate scandals that occurred in 2001 were linked to weaknesses in financial reporting and accounting practices. In response, several jurisdictions enacted legislations to enhance transparency and uphold the integrity of financial markets. Source SEC Nigeria Read More

 

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PROSHARE MARKETS

Investors Gain N33.99bn as NSEASI Inches Up by 0.17% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.17% to close at 39,396.57 basis points as against -0.08% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.17%. Source Proshare Markets Read More

Nigerian Agency Banking: Inside the Turf Wars - Nigerian banks are in the middle of a slugfest. With sliding revenues and stunted profits in 2020, local deposit money institutions are punching from the ring corners as they fight for an increased market share of the agency banking market. Source Teslim Shitta-Bey, Chief Economist/ Managing Editor, Proshare Read More

AFEX Commodities Index Experience Positive Performance as @ 050321 - The AFEX Commodities Index (ACI) increased by 1.07% (W-o-W) to close at 397.43 basis points. This is attributable to the increase in the price soybean and sorghum on the exchange despite the decline in maize and paddy rice prices for the reporting week. Source Kainosedge Consulting for AFEX Commodities Exchange Read More 

Nigeria Records N13tr Fixed Income, Currencies Deals - Nigerian fixed-income and currencies markets recorded transactions valued at N13.03 trillion in January 2021 with foreign exchange (forex) accounting for N3.26 trillion. Source The Nation Read More

Nasdaq Hits Correction, Dow Advances as Stimulus Bill Nears Finish Line - Technology-related shares sold off on Monday in a big downturn that pushed the Nasdaq into a correction and offset stocks that rose on hopes the $1.9 trillion COVID-19 relief bill will spur the U.S. economic recovery. Source Reuters Read More


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PROSHARE BUSINESS

We Spent N966bn on Pipeline Repairs, NNPC Replies AuGF - The Nigerian National Petroleum Corporation has explained that it spent N966bn to repair pipelines between 2010 and 2015. NNPC stated this in response to the query raised in the 2016 report of the Auditor General for the Federation. Source Punch Read More

'Nigeria's Gas Can Support West African Market' - The newly inaugurated President of the Nigeria Gas Association, Ed Ubong, has said there is abundant gas resources in Nigeria to meet the energy demand of over 350 million people and the industrial needs in the West African sub-region. Source Punch Read More

U.S. Wholesale Stocks Rise; Inventories-to-Sales Ratio Lowest in Six Years - U.S. wholesale inventories increased solidly in January even as sales surged and it is taking wholesalers the shortest time in six years to clear shelves, a sign of strengthening demand that aligns with expectations for faster economic growth this year. Source Reuters Read More 

 

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PROSHARE FINANCE

#IWD2021: Leading Nigerian Women in Islamic Finance - As the world marks 2021's International Women's Day with the theme "Choose to Challenge", our writer captures the remarkable strides of women in the Islamic finance business in Nigeria. Source WebTV Read More 

 

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