Nigeria in 1min: Economic, Business and Financial Headlines - 091221

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Thursday, December 09, 2021 / 5:41 AM / By News Aggregator / Header Image Credit: NGX

 

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 COVID-19 Health Updates

  • 8th of December 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 215,164 cases (New: 268)
  • Discharged: 207,520
  • Deaths: 2,980 (New: 0)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Nigeria's Trade Deficit Widens in Q3 2021 as Oil accounts for 90% of Exports - If Nigeria is to grow to support a population of 200m people it must do better than its recent external trade numbers. Data released by the national bureau (NBS) showed that in the third quarter of 2021 (Q3), merchandise trade rose by 51% Y-o-Y to N35.07trn. Source AbdulQudus Isiaka, Proshare Research Read More

Oil, Gas Investments Must Rise to $523 Billion a Year, Says IEF - The Riyadh-based International Energy Forum has called on companies to raise investment in oil and natural-gas production to $523 billion a year by the end of this decade to prevent a surge in energy prices and economic unrest. Source Bloomberg Read More

Zainab Ahmed: No Changes to VAT, Stamp Duty Regime in 2021 Finance Bill - The federal government says there is no adjustment to the value-added tax (VAT) and stamp duty regime in the 2021 finance bill. The federal executive council (FEC) presided over by President Muhammadu Buhari approved the bill at its meeting on Wednesday. Source TheCable Read More


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PROSHARE MARKETS

NGX Regulation to Host Issuers Engagement Forum - In fulfilling its commitment to maintain excellent service delivery and provide solutions in line with stakeholders' needs, NGX Regulation Limited (NGX RegCo) will host its Issuers' Engagement Forum on Tuesday, 14 December 2021. Source NGX Regulation Read More

Investors Gain N217.19bn as NGXASI Inches Up Further by 0.99%, Maintains Positive Posture - Equities market closed on a positive note, as NGXASI appreciated by +0.99% to close at 42,435.16 basis points as against +0.02% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +5.37%. Source Proshare Market Read More 

Ellah Lakes Plc Enters Agreement With Enugu State Government on Rice Processing - Ellah Lakes Plc announces that it has entered an agreement with the Enugu State Government for the expansion and further development of the Ada Rice Company and plantation. Source NGX Read More

RenCap Predicts M&A among Nigeria's Mid-tier Banks - Analysts at Renaissance Capital Limited (RenCap), an international research and financial advisory company have predicted that with the upcoming Basel III policy that requires enhanced capital buffers, some of Nigeria's tier-2 and tier-3 banks might opt for mergers and acquisitions (M&A) in order to strengthen their capital positions. Source Thisday Read More


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PROSHARE BUSINESS

Nigeria's Petrol Imports Jump by 55%, Hit N2.52tn in Nine Months - The cost of Premium Motor Spirit, also known as petrol, imported into Nigeria from January to September this year surged by 55.56 per cent to N2.52tn from the N1.62tn spent in the same period of 2020. Source Punch Read More 

 

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PROSHARE TECHNOLOGY   

NCC Releases N5m to Support Startup Development, Local Content - Nigerian Communications Commission (NCC) has released N5 million as grant to three top winners of the 2021 Emerging Technologies Research and ICT Innovation Competition and Exhibition. Source THISDAYLIVE Read More 

 

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PROSHARE FINANCE

Socially Responsible Investment Exceeds $35trn Globally - Dr. Sami Al-Suwailem - Socially Responsible Investment (SRI) exceeds $35trn globally. Dr. Sami Al-Suwailem, Acting Director-General, Islamic Research, and Training Institute, IsDB made this point during the Accounting and Auditing Organization for Islamic Financial Institutions (AAIOIFI) and Islamic Development Bank (IsDB) 16th annual conference held in Bahrain. Source Bukola Akinyele-Yisau  for WebTV Read More

European Union Provides Fresh Funding to Support COVID-19 Vaccination in Sub-Saharan Africa - UNICEF has received a new grant from the European Union's Humanitarian Aid to help roll out COVID-19 vaccination in 12 countries in Eastern, Southern, West and Central Africa. Source UNICEF Read More

Finance Bill Makes TIN Mandatory for Banks' Account Holders - The Finance Bill 2021 has made it mandatory for commercial banks to demand Tax Identification Number from any individual seeking to open an account with them. The bill also empowers banks to demand TIN from existing customers if they wish to continue to operate their accounts. Source Punch Read More


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