Nigeria in 1min: Economic, Business and Financial Headlines - 150621


Tuesday, June 15, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: @UNCTAD

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COVID-19 Health Updates

  • 14th of June 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 167,078cases (New: 12)
  • Discharged: 163,469
  • Deaths: : 2,117 (New: 0)

Source: NCDC Read More

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Constitutional Review: Nigeria Needs Electoral Reforms, New Fiscal System - Pat Utomi - As Nigeria's 1999 constitution goes through a review, reforming the electoral process and ensuring a well-thought process of fiscal transfer from the federal to state and local governments are key areas that should be addressed. Professor Pat Utomi the Founder of the Center for Values and Leadership and a political economist made this point during a discussion on sustainable democracy in Nigeria. Source  Ottoabasi Abasiekong for WebTV Read More

Carbon Dated: Nigeria-based Suppliers are Risking Almost USD35bn in Exports - A new study by Standard Chartered reveals that multinational companies will cut suppliers for failing to curb carbon emissions, with 78 percent of multinationals (MNCs) planning to remove suppliers that endanger their carbon transition plan by 2025. Source Standard Chartered Read More

FIRS Guidelines on Validation of Unutilised WHT Credit Notes and Introduction of Tax-Pro Max - The Chartered Institute of Taxation of Nigeria has announced that the Guidelines on validation of unutilised WHT Credit notes issued by the Federal Inland Revenue Service this month (June 2021), and the issues arising from the treatment of the same, as well as the Introduction of the FIRS Tax Administration Solution (Tax-Pro Max), have come to the notice of the Institute. Source CITN Read More 

56% of CEOs In Africa Are Extremely Concerned About Tax Policy Uncertainty - CEOs in Africa are more confident in their own company's revenue prospects and the strength of the global economy than they were in 2020. However, they have concerns about government policy, cybersecurity, technology, and people. These are some of the insights shared at the virtual media launch of the 8th edition of PwC's Africa Business Agenda 2021 report. Source PwC Read More

Petrol Price Regulation Causing Mass Poverty, Stagnation - FG - The continued regulation of the pump price of Premium Motor Spirit, popularly called petrol, is causing stagnation and impoverishment of the masses, the Federal Government has said. Source Punch Read More

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Forex: Everything You Need to Know - Trading is highly difficult on all financial markets, as shown to many start-up traders by loss of money. However, there is adequate preparation, practice, and experience in success. So, what does money-related trade mean to you?. Source Sponsored post by bilal ahmed Read More

SPACs as Engines for Public Ownership and Growth - The global equity capital market has been reacting to the infusion of significant cash investments - $83billion in 2020 and over $53billion in the first two months of 2021, according to data compiled by Accelerate Financial Technologies Inc. If the current pace continues, over $300billion could be raised in 2021. Source Coronation Research Read More


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Dangote $2 Billion Urea Fertilizer Plant Pushes out 120 Trucks Everyday - After months of speculations, Dangote Urea fertilizer is now finally on sales nationwide and it currently pushes out a minimum of 120 trucks per day across the country. Source Dangote Group Read More 

Lagos-Ibadan Train Begins Full Operations Tuesday - NRC - The Nigerian Railway Corporation says it will begin full operation of the standard gauge railway service from Lagos to Ibadan on Tuesday. It also revealed a new schedule for its movement and stops, according to the News Agency of Nigeria. Source Punch Read More

Total Energies Nearing 100% Local Content in Operations, Says MD - Managing Director of Total Energies, Nigeria, Mr Mike Sangster, has stated that some of the company's major operations now incorporate almost 100 per cent local Nigerian content. Source Punch Read More

Brass Products Terminal Project to Generate 6,000 Jobs - Kyari - The Minister of State for Petroleum Resources, Chief Timipre Sylva has commended President Muhammadu Buhari for his giant strides in the Niger Delta which is making a huge impact on the people of the area. The Minister made this known yesterday while speaking at a ceremony to mark the execution of Shareholders Agreement between the Nigerian National Petroleum Corporation (NNPC). Source LeadershipNG Read More

FCCPC Warns DISCOS Over Arbitrary Disconnection of Consumers - The Chief Executive Officer of Federal Competition and Consumer Protection Commission [FCCPC] Tunde Irukera has described as scandalous penchant by electricity distribution companies to disconnect consumers, saying this is tantamount to hostage taking and kidnapping. Source The Nation Read More

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Bitcoin Reaches Highest Level Since May as Chartists Eye $50,000 - After a volatile weekend, Bitcoin has once again surpassed $40,000, reaching its highest level in more than two weeks. The world's largest crypto gained as much as 4.5% Monday to $41,020, extending its rally to a second day. The coin has rallied roughly 9% since Friday. The wider Bloomberg Galaxy Crypto Index, which tracks some of the major cryptocurrencies, also advanced, adding as much as 7.7% at one point. Bloomberg Read More

Google Dangles Paid Upgrade to Businesses Using Gmail Addresses - Alphabet Inc's (GOOGL.O) Google on Monday unveiled an option for small businesses to upgrade their Gmail accounts for greater calendaring, video chat and email newsletter functionalities. Source Reuters Read More 


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Defaulting Insurers Selling Assets Over Outstanding Claims - NAICOM - The Commissioner for Insurance, Mr. Sunday Thomas, has said that it is ensuring that defaulting insurance companies pay all their outstanding claims. Thomas said that some of the defaulting insurance companies with huge liabilities and unable to meet up with their claims obligations had already put up their assets for sale to comply with NAICOM's order to pay their claims. Source Taiwo Ojoye of Punch Newspaper Read More 

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