Nigeria in 1min: Economic, Business and Financial Headlines - 150121


Friday, January 15, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: WebTV

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COVID-19 Health Updates

  • 14th of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 105,478 cases (New: 1479)
  • Discharged:  83,830
  • Deaths: : 1405 (New: 23)

Source: NCDC Read More

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CBN Issues Framework for Quick Response Code Payments in Nigeria - In furtherance of its mandates to, ensure the safety and stability of the Nigerian Financial System, promote the use and adoption of electronic payments and foster innovation in the payments system, the Central Bank of Nigeria hereby issues the Framework for Quick Response (QR) Code Payments in Nigeria. Source CBN Read More

2021 Budget: Lagos to Raise N100bn Debt Through the Capital Market to Finance Development - The Lagos State Government has said that out of the N193bn Debt it would raise to finance its 2021 budget, would access the domestic capital market for N100bn by way of a revenue bond to fund critical infrastructure and development projects. Source WebTV Read More

Fed Govt Disburses N123.348b Grants to States Over Transparency - The Federal Government has disbursed N123.348 billion (or $324.6 million) to states under its States Fiscal Transparency Accountability and Sustainability (SFTAS) Programme for Results. Source The Nation Read More

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DMO Calls the Market's Bluff, Redeeming Over 65% Of the Amount Offered on the 364days Bills - The bearishness in the FGN bond space continued today, as a flurry of sellers cut across the benchmark curve. The 2027s, 2029s, and 2049s were the major losers in today's market, as yields jumped by over 80bps compared to the previous day's offered levels. Source Zedcrest Capital Read More

Investors Gain N325.28bn as Market Sentiment Remains Positive Amid Improved Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +1.54% to close at 40,963.14 basis points as against +0.11% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.72%. Source Proshare Markets Read More


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FirstBank Begins The Year With An Innovative, Convenient Virtual Payment Card - First of Bank of Nigeria Limited, Nigeria's leading financial inclusion services provider has launched the Virtual Payment card, a Naira denominated debit card and digital representation of the plastic debit card. The card is designed to be linked to either a customer's operative account or wallet account. Source FirstBank Read More

96 Firms Bid to Rehabilitate NNPC Pipelines, Terminals - About 96 companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation's downstream infrastructure. Source Punch Read More

FG Inaugurates Committee to Expand Export Facility - The Federal Government on Thursday inaugurated the steering committee for the implementation of the Export Expansion Facility. Minister of Industry, Trade and Investment, Adeniyi Adebayo, who inaugurated the committee in Abuja, also warned that if Nigeria failed to grow its non-oil exports, the economy would remain vulnerable to external shocks. Source Punch Read More

Nigeria's daily oil production sinks to 1.17 million barrels - Crude oil production in Nigeria tumbled by 155,000 barrels to a record low in December amid the production cuts by the Organisation of the Petroleum Exporting Countries and its allies. OPEC disclosed this on Thursday in its report for January, saying a meaningful rise in oil prices would brighten Nigeria's economic outlook this year. Source Punch Read More

NNPC Cautiously Hopeful About Oil Demand Recovery, Deepens Gas Devt - The Nigerian National Petroleum Corporation (NNPC) has expressed cautious optimism about oil demand growth, adding that it had begun the process to diversify its portfolio beyond oil assets to hedge future crisis and align with global energy transition. Source The Guardian Read More

Biden Unveils Plan to Pump $1.9 Trillion Into Pandemic-hit Economy - President-elect Joe Biden outlined a $1.9 trillion stimulus package proposal on Thursday, saying bold investment was needed to jump-start the economy and accelerate the distribution of vaccines to bring the coronavirus under control. Source Reuters Read More 


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Knowing your Money Profile: A Bedrock to Financial Stability for Millennials - Identifying your money profile serves as the bedrock for proper financial management for millennials. It is a financial process that requires careful and detailed reflection based on individual traits and attitudes. Source Bukunmi Adejobi, Proshare Research, and Taiyese Nifemi WebTV Read More

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