Nigeria in 1min: Economic, Business and Financial Headlines - 140521


Friday, May 14, 2021 / 5:40 AM / By News Aggregator / Header Image Credit: Twitter; @followlasg

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COVID-19 Health Updates 

  • 13th of May 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 165,612 cases (New: 53)
  • Discharged: 156,387
  • Deaths: : 2066 (New: 0)

Source: NCDC Read More

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Proshare to Host the Second Edition of #TheAnalystSpeaks Focused on Inflation and Its Implications - The second edition of #TheAnalystSpeaks a session organised by Proshare to have conversations around critical economic & market policies and answer questions from subscribers and the general public to clarify these issues, will hold on Tuesday, May 18th, 2021. Source Proshare Business Read More

NSIA Announces Audited Financial Results for 2020 Financial Year - The Nigeria Sovereign Investment Authority ("NSIA" or "The Authority"), manager of Nigeria's sovereign wealth fund, today announces its audited results for 2020 financial year, reflecting a strong financial performance and consistent implementation of strategic infrastructure investment programmes for the year. Source Press Release By NSIA Read More

Payment of Stamp Duties on Loan Agreements - Implication of the Finance Act 2019 - The Finance Act 2019 ("the Finance Act") made significant changes to the tax regime in Nigeria, with broad implications for doing business, investment strategies and tax planning in Nigeria. Changes introduced by the Finance Act include those made to the Stamp Duties Act, Cap. S8, L.F.N. 2004 ("SDA"), amongst others. Source Aelex Read More

CBN's January 2021 Economic Report: Bridging the Growth Gap - Nigeria's economy has been bruised, battered and bashed. The coronavirus (COVID-19) pandemic split the economy in two unequal halves of winners and losers with losers being in the overwhelming majority. Source Adesola Borokinni, Proshare Research Read More 

FG Seeks Revenue Growth from Bitumen, Barite, Gold - As revenue from oil nosedives following incessant global price fluctuations, the Federal Government is now channelling efforts to the development of minerals in the mines and steel industry to shore up foreign exchange earnings. Source Punch Read More

NEITI, EFCC, NFIU to Enforce Sanctions in Extractive Industries - The Nigeria Extractive Industries Transparency Initiative is partnering the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission, and the Nigerian Financial Intelligence Unit. Source Punch Read More

Nigeria Diaspora Remittances Declined by 27.7% to $16.8bn - World Bank - Remittances by Nigerians in the Diaspora declined by 27.7 per cent in 2020, the World Bank has said. A report by the World Bank titled 'Defying predictions, remittance flows remain strong during COVID-19 crisis' said Nigeria contributed 40 per cent of the remittances into Sub-Saharan Africa. Source Punch Read More

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'Gold-backed Securities Will Deepen Commodity Market, Forex' - Nigeria is expected to deepen its commodity market and foreign exchange (forex) earnings with the listing of Dukia Gold's diversified financial instruments on the Lagos Commodities and Futures Exchange (LCFE), said the chairman, Dukia Gold, Mr. Tunde Fagbemi. Source LeadershipNG Read More 


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Brent Crude Rises to $69 on IEA Report - Oil prices rose after the release of the International Energy Agency's (IEA) closely-watched Oil Market Report, with WTI Crude trading at above $66 a barrel and Brent Crude surpassing the $69 per barrel mark. Prices jumped even though the agency revised down its full-year 2021 oil demand growth forecast by 270,000 barrels per day (bpd) from last month's assessment, expecting now demand to rise by 5.4 million bpd. Source The Nation Read More

Nigeria's Oil Output Nears 1.6mbpd as Cartel Anticipates Rising Demand - Though the Organisation of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) confirmed at the last meeting that they intend to proceed with the implementation of the agreement to gradually increase oil production over the next three months, anticipating that rise in global oil demand may push up output. Source The Guardian Read More

NIMASA Takes Delivery of Last Deep Blue Project Assets - The Nigerian Maritime Administration and Safety Agency (NIMASA) has received a special mission aircraft under the Deep Blue Project designed to secure the country's waters up to the Gulf of Guinea. Source Vanguard Read More 


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Telcos Await NCC's Approval for 5G Rollout - Telecommunication operators have said they are ready to apply for 5G licence to enable them rollout the service across Nigeria. The operators disclosed this through their umbrella body, the Association of Licensed Telecoms Operators of Nigeria (ALTON). Source THISDAYLIVE Read More 

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