Nigeria in 1min: Economic, Business and Financial Headlines - 140421

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Wednesday, April 14, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @ngxgrp

 

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COVID-19 Health Updates 

  • 13th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 163,911 cases (New: 74)
  • Discharged: 154,225 
  • Deaths: : 2061 (New: 0)

Source: NCDC Read More

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PROSHARE ECONOMY

Real Household Consumption Expenditure Growth Rate Stood at 0.18% in 2020 - NBS - The Gross Domestic Product (GDP) can be derived as the value of all goods and services available for final uses and export. GDP at market prices includes net taxes on products; taxes are subtracted to obtain basic price GDP. Source NBS Read More

New IGP, Ebube Agu and Other Stories - OpEd by Dr. Reuben Abati - The removal of former Inspector General of Police, Mohammed Adamu by President Muhammadu Buhari 27 days to the end of the three months extension that the President granted him on February 4, is now seen by those who opposed that extension as a vindication of their position. Source OpEd by Dr. Reuben Abati Read More

PMS Price: Between the Devil and the Deep Blue Sea - In Mar-2020, the FG announced a reduction in PMS price to N125/litre in a move suggesting the deregulation of the downstream oil & gas sector. At this point, crude prices had plummeted drastically, implying that the landing cost of PMS had also declined significantly. Source United Capital Research Read More

NBS Publishes COVID-19 Impact Monitoring Survey Report for February 2021 - The share of working-age Nigerians who were working in February 2021 (70%) was only slightly lower than the share observed in September 2020 (72%), and much higher than the share observed in January/February 2019 (64%); this heightened labor supply was driven especially by women. Source NBS Read More

Gas Expansion Project'll Lift 100 Million from Poverty - Sylva - The Federal Government on Monday said that it would lift no fewer than one hundred million Nigerians out of poverty through the implementation of National Gas Expansion Programme. Source Punch Read More

 

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PROSHARE REGULATORS

SEC's Directive to Online Investment and Trading Platforms in Nigeria - The Way Forward - On the 8th of April 2021, the Securities and Exchange Commission (the "SEC"), issued a press release addressing the activities of online investment and trading platforms which facilitate direct access of the investing Nigerian public to securities of foreign companies listed on Securities Exchanges registered in other jurisdictions (the "Press Release"). Source Detail Commercial Solicitors Read More


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PROSHARE MARKETS

Investors Lose N57.95bn, NSEASI Dips by -0.29% as Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by -0.29% to close at 38,601.83 basis points as against -0.40% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.14%. Source Proshare Markets Read More

Nigerian Exchange Group Now Admitted to Trade on NASD OTC - NASD Plc is pleased to announce the admission of the securities of the Nigerian Exchange Group PLC (NGX) for trading on its Market. This comes pursuant to the successful demutualization of the NSE now known as the Nigerian Exchange Group PLC. Source NASD Plc Read More

Central Bank Intervenes in FX Markets, Sells Dollars to Foreign Portfolio Investors - The bearishness in the FGN bond market was sustained as the markets resumed this week, as market participants continued to react negatively to the increased supply at the primary auction as outlined by the DMO in its issuance calendar for Q2. Source Zedcrest Capital Read More

NGX Group Launches New Brand Identity and Website - Nigerian Exchange Group (NGX Group) Plc, a leading integrated market infrastructure Group in Africa, has announced the launch of its new corporate brand identity and website today, 13 April 2021. Source NGX Group Read More 

Tech Stocks Push S&P 500 to Record Close, Buoy Nasdaq - The S&P 500 closed at another record high on Tuesday and the Nasdaq composite index jumped, as investors shook off concerns about the halt in Johnson & Johnson's COVID-19 vaccine rollout and strong U.S. inflation. Source Reuters Read More


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PROSHARE BUSINESS

NEITI's Work Improves Nigeria's Business Environment - Orji - The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, NEITI, Dr Orji Ogbonnaya Orji on Tuesday said the effort of the agency and its partner civil society organizations is geared towards ensuring that the business environment Nigeria is improved upon to expand businesses that create jobs in the country. Source Vanguard Read More

Power Generation Falls Further by 27% to 3,567MW - Nigeria's power generation, Monday, dropped by 27 percent to 3,567.30 megawatts, MW, as at 06hours compared to the 4,557.50MW peak generation at 22hours the previous day. Source Vanguard Read More

FG Targets N7bn Annual Tax Revenue from Solar - The federal government has highlighted some of the secondary benefits of the N140 billion solar power programme that is aimed at providing electricity to 25 million Nigerians through off-grid connections to five million homes. Source THISDAYLIVE Read More

 

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PROSHARE FINANCE

How REITs Broaden Investor Opportunities in Nigeria - Real Estate Investment Trusts (REITs) are investments that provide certainty and regularity of income to investors in the capital market. Mr. Hakeem Ogunniran the Founder/CEO of Eximia Realty Company Limited disclosed this in a discussion on "REITs as Investment Tools for Nigeria's Capital Market Development". Source Ayomide Oguntoye for WebTV Read More

Senate Summons NICON, AIICO, Others Over N17.4bn Pension Remittances - The Senate Public Accounts Committee has summoned the management of the NICON Insurance Plc, AIICO Insurance and other insurance companies over their alleged failure to remit N17.4bn pension fund to the Pension Transitional Arrangement Directorate. Source Punch Read More

 

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