Nigeria in 1min: Economic, Business and Financial Headlines - 120121


Tuesday, January 12, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @AfDB_Group

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COVID-19 Health Updates

  • 11th of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 101,331 cases (New: 1244)
  • Discharged:  80,491
  • Deaths: : 1361 (New: 3)

Source: NCDC Read More

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Oil and Gas: Working the New Normal in the Time of a Pandemic - The O&G business is in a period of transition as executives of various companies in the sector begin to reimagine, rethink, and strategize their models. Sustainability will no longer be just about wellheads and sales volumes but about technology adoption, cost minimization, and adaption to new market expectations. Source Proshare Research Read More

Unclaimed Funds Trust Fund: We Can Still Get It Right - The groundswell of voices and reactions against the federal government's decision to borrow from unclaimed funds for infrastructural development should have been expected and that is all the difference there is, to what obtains elsewhere by records of fact. What is holy grail to other people is sacrilegious to us for valid fears. Source Read More

COVID-19 Containment and ESP Implementation Key for Nigeria's Economic Recovery - Prof. Akpan Ekpo - The Federal Government's management of the COVID-19 pandemic from containment strategies, roll out of vaccines, guaranteeing the security of the nation from insurgency, and the implementation of the Economic Sustainability Plan (ESP), will be critical to Nigeria's recovery from an recession. Source WebTV Read More


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Steps on Unclaimed Dividend Retrieval Process as Highlighted by SEC Nigeria - Based on information available on the Securities and Exchange Commission (SEC) website, all investors whose name(s) appear on the U-eDIV Search Portal, are advised to download and fill their respective Registrar's e-mandate form and submit same at the nearest branch of their Bank or Registrar to register for the collection of their unclaimed dividends and subsequent dividends electronically. Source Proshare Research Read More


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Investors Gain N15.98bn as NSEASI Inches Up by 0.08% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.08% to close at 40,150.78 basis points as against -1.16% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -0.30%. Source Proshare Markets Read More

Dangote Cement Plc Completes Tranche 1 of Its Share Buy Back Programme - Dangote Cement Plc ("DCP" or the "Company") hereby announces the completion of the first tranche ("Tranche I") of its share buy-back programme (the "Share Buy-Back Programme") which was announced on 21 December, 2020.Source NSE Read More

AFEX Commodity Focus on Maize: The Goldmine of Feed Grains - In Q4 2020, it's hard to keep up with the demand for maize in Nigeria. The price of the grain has seen a steady uptick resulting from a low base of production. Thankfully, commodities market disruptors are seeking better endings for farmers and buyers at large. Source Afex Read More


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Asharami Energy Appoints Menkiti as COO to Drive Enhanced Production Target - Asharami Energy, a Sahara Group Upstream Company, has appointed Henry Menkiti as its Chief Operating Officer to boost ongoing expansion projects aimed at delivering the company's ambitious production target over the next few years. Henry's appointment took effect on the 8th December 2020. Source Sahara Group Read More

Credit Suisse's Former CEO Thiam to Start Blank-Check Firm - Ex-Credit Suisse Group Inc. Chief Executive Officer Tidjane Thiam is planning a $250 million vehicle to invest in financial services in developed and emerging markets, according to a person with knowledge of the matter. Source Bloomberg Read More

Currency in Circulation Reached N2.9tn in 2020 - CBN - Currency in circulation rose by N249bn from N2.66tn as of the end of November to N2.91tn in December 2020. The data was obtained from the Central Bank of Nigeria on Sunday. The CIC rose from a figure of N2.49tn as of the end of October. Source Punch Read More

MMA Records 551,380 Passengers in Five Months - The Murtala Mohammad Airport, Ikeja, domestic terminal, recorded a total of 551,380 passenger movements (landing and take-off) between July and December 2020. Source Punch Read More

Fuel subsidy: Let's shift to Autogas, FG tells MOMAN, IPMAN, others - As an immediate response to the rising price of petrol, and by extension, the return of fuel subsidy, the Federal Government has urged operators in Nigeria's downstream sector of the petroleum industry to shift to Autogas. Source Vanguard Read More

How Nigeria Lost $178bn to Tax Evasion by Multi-Nationals - FIRS Boss - The Federal Inland Revenue Service (FIRS) has moved against illicit financial outflow and to improve tax compliance among multi-nationals operating in the country, as its Executive Chairman, Mr Muhammad Nami, said that Nigeria reportedly lost $178 billion to tax evasion by multi-nationals in ten years. Source Vanguard Read More

FG, Firm Sign MoU on $1.959bn Kano-Maradi Rail Project - The federal government on Monday signed the Memorandum of Understanding (MoU) with Mota- Engil Group on the construction of $1.959 billion Kano-Maradi Standard Gauge Railway lines. Source THISDAYLIVE Read More

U.S. Bank Quarterly Profits Expected to Fall Again from Pre-COVID Levels - When the biggest U.S. banks begin reporting fourth-quarter results on Friday some of the headlines could show profits plunged by as much as 40% from a year earlier, before the pandemic struck. Source Reuters Read More

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6 Ways to Do Investment Savings for Beginners - Everyone takes their first steps in their investment journey as beginners. Even Warren Buffett and Jim Rogers grew their weather by starting as rookie investors. It takes plenty of time, patience, and mistakes to become a savvy investor. Investing is not something you can master overnight. Source Aqib Raja Read More

Northcourt's 2021 Nigeria Real Estate Market Outlook - 2020 will be described as the year of unprecedented shifts and shocks. COVID-19 effects were evident in the economy and real estate markets world over. Crude oil prices hovered around $42p and employment numbers weakened. And while new business opportunities opened up, few firms are likely to return to the organisational structures of 2019. Source Northcourt Read More 


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