Nigeria in 1min: Economic, Business and Financial Headlines - 151020

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Thursday, October 15, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @perliksdefinition


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COVID-19 Health Updates

  • 14th of October 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 60,834 cases (New: 179)
  • Discharged:  52,143
  • Deaths: : 1,116 (New: 0)

Source: NCDC Read More


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PROSHARE ECONOMY 

The Return of the Equity Market - Last week, the Nigerian Stock Exchange All-Share Index (NSE-ASI) rose by 5.30% to bring its year-to-date return up to 5.86%. From its low point this year on 6 April, the equity market has risen 37.48%. Source Coronation Research Read More

NSE to Host Industry Leaders at Oil and Gas Sector Webinar - The Nigerian Stock Exchange ("NSE" or "The Exchange") will host an Oil and Gas sector webinar on Tuesday, 20 October 2020. With the theme, Perspectives of Operators and Industry Experts Post-COVID-19, the webinar will bring together key players across the entire oil and gas value chain to discuss the impact of the COVID-19 pandemic on the sector... Source NSE Read More

5 Major Takeaways from The IEA's World Energy Outlook 2020 - A few years back, the fossil fuel sector was doing just fine while renewable and alternative energy investments were considered a wildcard because the sector was regarded as unchartered territory. Source Alex Kimani of Oilprice Read More

FEC okays N22.247bn for Apapa-Oworonshoki-Ojota Expressway - ABUJA - THE Federal Executive Council, FEC, on Wednesday, approved N22.247 billion for the reconstruction of Apapa-Oworonshoki-Ojota Expressway Phase Section Two. Source Vanguard Read More


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PROSHARE REGULATORS

Lack of PenCom Board Stalls N14,400 Minimum Pension Payment - Five years after the pension operators and the National Pension Commission drafted guidelines to commence N14,400 minimum pensions for retirees, the payment is yet to begin. A source at PenCom said the minimum pension could not commence because the commission had no board in the past five years. Source Punch Read More

 

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PROSHARE MARKETS

Banks in H1 2020: Nudging the Globe to Respond to Tough Choices - To complement collaborative domestic responses to COVID-19 a strong and effective global response would quicken the rate of the global economic recovery and banking sector rebound. An effective global response would lead to a recovery of the global economy at the beginning of Q1 2021 and recovery would become speedier in Q3 of 2021. Source Proshare Research Read More

NSEASI Closed Flat as Market Breadth Closed Positive - Equities market closed today on a flat note, as NSEASI closed at 28,344.33 basis points as against +0.02% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +5.60%. Source Proshare Markets Read More

Stockbrokers to Set Blueprint for Economic Revival - The Chartered Institute of Stockbrokers is set to prepare a roadmap on how the Federal Government can leverage the capital market to put Nigeria's dwindling economy on sound footing. The institute, in a statement, noted that it shall in November converge for the 2020 Annual Conference of Stockbrokers on both physical and virtual modes to articulate options for the nation's economic revival. Source Punch Read More

Asian Stocks Mixed on Fading U.S. Stimulus Hopes, Virus Concerns - Asian markets were off to a mixed start on Thursday as hopes of U.S. fiscal stimulus before the presidential election faded and a record number of new coronavirus infections in parts of Europe propelled investors toward safe-havens such as gold. Source Reuters Read More


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PROSHARE BUSINESS 

Lafarge Forum Explores Ideas for Upscaling Infrastructure Finance - Policymakers, experts and stakeholders in the Nigerian economy agreed that the implementation of Public-Private Partnerships (PPPs) across areas like infrastructure must be strategic and innovative. Source WebTV Read More

Nigeria's Sept Oil Production Fell by 1.74 Million Barrels - OPEC - Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of Petroleum Exporting Countries showed. In the OPEC report, dated October 13, the group outlined the crude oil production figures of its 13-member countries based on direct communication with the various nations. Source Punch Read More

World Bank to Provide Over $50bn in Grants to Most Fragile Countries in 2021 - World Bank, Wednesday, revealed that it will provide over $50 billion in grants by June 2021 to the most fragile countries and people to reduce the effect of the coronavirus, COVID-19 pandemic. Source Vanguard Read More

Appeal Court Declares Police Act 2020 Illegal, Nullifies Constable Recruitment - The Court of Appeal has declared as unconstitutional and void, the Police Act 2020, enacted in September this year as it affects the constitutional mandate of the Police Service Commission. Source Punch Read More


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