Nigeria in 1min: Economic, Business and Financial Headlines - 150721


Thursday, July 15, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @NOIweala


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COVID-19 Health Updates

  • 14th of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 168,915 cases (New: 48)
  • Discharged: 164,652
  • Deaths: : 2,125 (New: 0)

Source: NCDC Read More

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Headline Inflation Likely to Creep Back up in June 2021 - Based on our market survey and time series analysis, we are projecting that headline inflation for June will likely creep back up to 18.1%, a level last seen in March 2021. Source By FDC Read More

Q2 2021 Economic Review - Strengthening Economic Recovery: The Need for Speed and Urgency - The International Monetary Fund (IMF) in April revised upwards its projection for 2021 for many economies. The Fund projected a global GDP (Gross Domestic Product) growth of 6.0% for 2021, an increase from 5.5% projected in January. Source By FSDH Research Read More

Foreign Investor's Interest in the Nigerian Economy Drops in Q1 2021 - According to a report released by Nigerian Investment Promotion Commission (NIPC), Nigeria recorded $8.4bn in investment announcement inflows in Q1-2021 of which $5.5bn was pledged by foreign investors. Source By United Capital Research Read More

Financing Nigeria Infrastructure Deficit: Would Infra-Co Do? - Earlier in the year, the Federal Government approved the establishment of a Public-Private Partnership Styled Infrastructure company named Infra-Co with an initial seed capital of N1tn expected to grow to N15tn in assets and capital over time. Source By CSL Research Read More

Nigeria Imported 20.6bn Litres of Petrol in 2019 - NEITI - The Nigeria Extractive Industries Transparency Initiative has said that Nigeria imported a total volume of 20.6 billion litres of Premium Motor Spirit, popularly known as petrol, in 2019. Source Punch Read More

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Investors Gain N7.97bn as NSEASI Inches Up Marginally by 0.04%, YTD Return Hits -5.96% - Equities market closed today on a positive note, as NSEASI appreciated by +0.04% to close at 37,872.55 basis points as against 0.00% flat position recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.96%. Source By Proshare MARKETS Read More

July 2021 YTD Performance: Lacklustre Showing by the Bourse - The all-share index (NSEASI) has struggled this year in the absence of any positive support from either government policy or data releases. Its ytd decline of -6.0% compares with gains of 4.6% posted by Nairobi (NSE20) and 13.3% by Jo'burg (all-share index). Source By FBNQuest Research Read More

GTCO: Guaranty Trust Holding Company Completes Corporate Re-organization - Aiming to strengthen its long-term competitiveness and growth prospects, Guaranty Trust Bank plc, has completed its re-organisation, to a Holding Company Structure. Under the terms of the re-organisation, a new operating company has been established. Source NGX Read More


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Industry Stakeholders Advocate Sustainable Regulations to Bridge Urban Housing Gaps - The Honourable Minister of Works & Housing, Mr. Babatunde Raji Fashola, SAN, recently led stakeholders to call on professionals in both the building and financial sectors to align with government initiatives... Source Lafarge Read More

EU to End Sale of Petrol, Diesel Cars by 2035 - The European Commission wants to end the sale of new petrol and diesel cars by 2035, under a massive plan to fight climate change unveiled on Wednesday. Source Punch Read More

'Nigeria Loses $26.3b Yearly to Maritime Insecurity' - President Muhamamadu Buhari has lamented the huge loss of revenue to maritime criminality. The President stated the loss at a whopping $26.3 billion yearly, a development, he said, had become harmful to the economy and safety of citizens. Source The Nation Read More

Major Oil Marketers Protest Restriction of Import Licences to Refiners - The Major Oil Marketers Association of Nigeria (MOMAN) and the Petroleum Marketers Association of Nigeria (DAPPMAN) have kicked against the restriction of petroleum import licence to a limited number of refiners as spelt out by the proposed Petroleum Industry Bill (PIB). The Guardian Nigeria Read More

Senate Faults NNPC Over Non-remittance Of N3.87trn Crude Oil Proceeds - The Senate has faulted the Nigerian National Petroleum Corporation (NNPC) for under-remitting the sum of N3,878,955,039,855.73 trillion revenue from domestic crude oil sales to the Federation Account for the period of January to December, 2015. Source LeadershipNG Read More


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EXCLUSIVE Twitter Sees Jump in Govt Demands to Remove Content Of Reporters, News Outlets - Twitter Inc (TWTR.N) saw a surge in government demands worldwide in 2020 to take down content posted by journalists and news outlets, according to data released by the social media platform. Source Reuters Read More 


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Coronavirus: World Bank Support Strengthens Clinical Management of COVID-19 in Ghana - Ghana embarked on intense actions to contain the coronavirus outbreak since the first two cases were confirmed on 12 March 2020. Source By WHO, Ghana Read More

Wearing a Mask Still Matters: The World Rallies to Continue Masking to Stop the Spread of COVID-19 - Pandemic Action Network, the Africa Centres for Disease Control and Prevention (Africa CDC), the African Union, 3M and over 50 global, regional, and local partner organizations announced today the launch of World Mask Week 2021 (July 12-18) - a global campaign underlining a universal truth. Source By Africa CDC Read More

Sukuk Risk Profiles Could Be Altered by AAOIFI-Compliance Push - Recent innovations in and revisions to sukuk documentation to comply with the Accounting and Auditing Organization for Islamic Financial Institutions' (AAOIFI) sharia standards may have implications for sukuk holders' ranking, and sukuk rateability, as well as the issuers' credit profiles, liquidity and ratings, Fitch Ratings says. Source By Fitch Ratings Read More 

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