Nigeria in 1min: Economic, Business and Financial Headlines - 100921

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Friday, September 10, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: WebTV

 

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COVID-19 Health Updates

  • 9th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 197,773 cases (New: 727)
  • Discharged: 185,597
  • Deaths: 2,585 (New: 6)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Lagos Assembly Passes VAT, Anti-Open Grazing Bills - The nation is reporting that the Lagos State House of Assembly has passed the Value Added Tax (VAT) bill. Speaker Mudashiru Obasa directed the Acting Clerk of the Assembly, Olalekan Onafeko, to transmit a clean copy to Governor Babajide Sanwo-Olu for assent. Source Oyebola Owolabi of The Nation Read More

The NNPC Surplus Debate - The President of the Federal Republic of Nigeria, Muhammadu Buhari who is also the Minister of Petroleum resources announced that the Nigerian National Petroleum Corporation (NNPC) turned in profit of N287bn in FY 2020. Source CSL Research Read More

Ondo Government to Miyetti Allah: No Cultural Practice Permits Banditry, Rape, Kidnapping - The Ondo State Government is in possession of a video clip of the press statement issued by a so-called association of cattle breeders, Miyetti Allah Kataul Hore, through its secretary, one Saleh Hassan. Source Press Release by Ondo State Government Read More

Personal Statements by the MPC Members at the 137 MPC Meeting of July 26-27, 2021 - Global economic recovery prospects remain strong despite the third wave of the COVID-19 pandemic as most countries have learned better ways of coping with the Pandemic. Source CBN Read More

How NNPC Manicured Its Books to Extract N287bn Profit - On August 29,2021, Atedo Peterside, founder of Stanbic IBTC Bank, indicted the NNPC in a tweet that there was an allegation the Corporation was dipping its hand into the Federation Account in order to announce bumper 2020 profits. Source BusinessDay Read More

Reps Expect Buhari's Letter on 2022 Budget Next Week - The House of Representatives said on Thursday that it was ready to receive communication from the President, Major General Muhammadu Buhari (retd.), on the date that the 2022 budget proposal would be laid before the joint session of the National Assembly. Source Punch Read More

Stamp Duties: Experts Back Govs as states Drag FG to Supreme Court - The Attorneys-General of the 36 states of the federation have dragged the Attorney-General of the Federation, Abubakar Malami, before the Supreme Court over the failure of the Federal Government to remit the funds generated from stamp duties into state accounts. Source Punch Read More

Manufacturers Call for Speedy Resolution of Controversy Over Value Added Tax Collection - The Manufacturers Association of Nigeria (MAN) has strongly appealed to the federal and state governments to find a mutually acceptable resolution of the controversy on which tier of government would control the collection of the Value Added Tax (VAT) from businesses in the country. Source THISDAYLIVE Read More


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PROSHARE MARKETS

Investors Lose N1.66bn as NSEASI Dips Marginally by -0.01%, Maintains Negative Posture - Equities market closed today on a negative note, as NSEASI depreciated by -0.01% to close at 39,201.33 basis points as against -0.12% loss recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.66%.  Source Proshare Markets Read More 

Now is the Time to Rethink Nigeria's Venture Capital Regulations - Some Key Considerations - Nigeria's venture capital rules do not appear to have been designed to attract modern venture capital. That's concerning because venture capital fund managers perform an all-important intermediary function of mobilising capital from local and foreign private sources of capital to enterprises... Source Balogun Harold  Read More


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PROSHARE BUSINESS

Reducing Customs Procedures Can Lift Nigeria, Others by $250bn - Osinbajo - Vice President Yemi Osinbajo has said that despite the monumental challenges posed by climate change, especially energy transition and related issues, the coming decade anchored on the African Continental Free Trade Area offers great opportunities for Africa's socioeconomic transformation. Source Punch Read More

Nigeria's Oil Production Drops to 1.2m b/d in August - Lowest in 2021 - Nigeria's oil production dropped to an average 1.23 million barrels per day in August, representing the lowest figure recorded yet in 2021. This is according to the 2021 crude oil and condensate production report released by the Department of Petroleum Resources (DPR). Source TheCable Read More


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PROSHARE TECHNOLOGY   

MTN Pays N71.6bn to Renew Spectrum Licence - The Nigerian Communications Commission has renewed the Unified Access Service licence and spectrum licence for wireless local loop in the 900MHz and 1800MHz band of MTN Nigeria. Source Punch Read More


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PROSHARE FINANCE

As Inflation Bites, is it Now Time to Buy That House? - The aggregate supply of housing in any market is usually a function of housing starts (new housing) and completion of the inventory of unfinished houses. Nigeria and Lagos in particular has a huge stock of uncompleted buildings, approximately estimated at 30%. Source FDC Ltd Read More


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