Nigeria in 1min: Economic, Business and Financial Headlines - 170321

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Wednesday, March 17, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @NigeriaGov

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COVID-19 Health Updates 

  • 16th of March 2021: Nigeria COVID19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 161,074 cases (New: 179)
  • Discharged:  146,072
  • Deaths: : 2018 (New: 2)

Source: NCDC Read More

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PROSHARE ECONOMY

Headline Inflation Increases by 17.33% YoY In February 2021, 0.86% Higher Than January 2021 Rate - The consumer price index, (CPI) which measures inflation increased by 17.33 percent (year-on-year) in February 2021. This is 0.86 percent points higher than the rate recorded in January 2021 (16.47) percent. Source NBS Read More

Oil Prices Fall on Renewed Demand Concerns - OIR 160321 - Oil analysts turned bullish in recent weeks, and some are pondering a stronger rally ahead. "Further price strength is very feasible," Tamas Varga, an analyst at PVM Oil Associates Ltd., told Bloomberg. An increase to $80 later this year "has now become more than just wishful thinking." Source Tom Kool of Oilprice Read More

Getting a VC for Ibadan Varsity: The Ugly Politics - OpEd by Dr Reuben Abati - Established in 1948 as a campus of the University College, London, somewhere around Eleiyele in Ibadan, the University of Ibadan as it later became known when it assumed an independent status in 1962, has the history of Nigeria. Source Dr. Reuben Abati Read More

Nigerian Government Resuscitates the National Agency for Science and Engineering Infrastructure Levy - The Federal Government of Nigeria (FGN) recently directed the Minister of Finance, Budget and National Planning (MoF) and Federal Inland Revenue Service (FIRS) to collect and subsequently remit statutory levy due to the National Agency for Science and Engineering Infrastructure (NASENI or the Agency). Source Deloitte Read More

Nigeria's public debt rose to N32.9tn in Dec - DMO - Nigeria's total public debt rose to N32.9tn at the end of December 2020, the Debt Management Office said in a statement on Monday. From its last report on public debt, the figure stood at N32.2tn as of the end of September 2020, which showed an increase of N700bn. Source Punch Read More


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PROSHARE MARKETS

Investors Gain N83.17bn as NSEASI Inches Up By 0.41% Amid Negative Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.41% to close at 38,720.81 basis points as against -0.22% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.85%. Source Proshare Markets Read More

N-ELTS Trading Platform will Enable Investors to Trade Commercial Papers, Other Instruments - The NASD Plc N-ELTS Trading platform will enable investors to trade on commercial papers (CPs) and other instruments like ETFs on the Unlisted OTC Market. Chinwendu Ekeh, Head, Operations and Technology, NASD NG Plc made this point while discussing the opportunities for deepening the growth of the "Unlisted OTC Market" in Nigeria. Source WebTV Read More

S&P 500 Ends Lower as Investors Eye Fed Meeting - The S&P 500 ended lower on Tuesday, weighed down by energy and industrial stocks as investors awaited the result of the Federal Reserve's two-day policy meeting. Source Reuters Read More

 

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PROSHARE BUSINESS

Countries Complaining About Nigeria's Multiple Foreign Exchange Rates - Okonjo-Iweala - Director General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, on Monday, listed conditions that could make Nigeria benefit from the global body. She gave the conditions when she visited the President, Major General Muhammadu Buhari (retd.), at the Presidential villa. Source Punch Read More

Govt'll Consult Widely Before Petrol Subsidy Removal - NNPC - The Federal Government is going to consult widely before halting subsidy on Premium Motor Spirit, popularly called petrol, the Nigerian National Petroleum Corporation has said. Source Punch Read More

FG Gets Report on Gas Affordability, May Slash Prices - The federal government may review downward the prohibitive prices of gas in the country, following the submission of a report to that effect by the Ministry of Petroleum Resources in Abuja. Source THISDAYLIVE Read More

'Mortgage Bill Will Raise Gross GDP by 51%' - Proponents of the Institute of Mortgage Brokers and Lenders (IMBL) bill which has just passed its third reading at the House of Representatives, have said that when passed, it will increase Nigeria's Gross Domestic Product (GDP) by at least 51 per cent. Source THISDAYLIVE Read More


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PROSHARE TECHNOLOGY   

NIBSS Launches NQR Code System to Increase Micropayments in Nigeria - Nigeria's financial services industry witnessed a significant shift with the formal launching of the NQR payment solution, developed by the Nigeria Inter-Bank Settlement System (NIBSS) to create seamless and contactless transactions in local financial markets. Source WebTV Read More

Flutterwave Partners Paypal for African Businesses to Accept and Make Payments Easily - Flutterwave, Africa's leading payments technology company, today announces a new collaboration with global payment leader PayPal to enable PayPal customers globally to pay African merchants in the continent through Flutterwave's platform. Source Flutterwave Read More

CBN, NCC Issue Joint Statement, Announces New USSD Transaction Charges - Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) have had protracted disagreements concerning the appropriate USSD pricing model for financial transactions. This resulted in the accumulation of outstanding fees for USSD services rendered leading to potential service withdrawal by the MNOs. Source CBN Read More

NCC Concludes Regulatory Processes on e-Waste - The Nigerian Communication Commission has said it is concluding processes to issue regulations on electronic waste. The Executive Vice Chairman of the NCC, Prof. Umar Danbatta, stated this during a press conference to commemorate the World Consumer Rights Day 2021 themed 'Tackling plastic pollution' in Abuja on Monday. Source Punch Read More


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PROSHARE FINANCE

Will You Buy Insurance Today? - The popular saying is that "Insurance is sold, not bought"! Reading and watching efforts made by insurance companies recently, not just in Nigeria but elsewhere, got me into deeper study of the unfolding scenes in different climes... Source OpEd By Ekerete Ola Gam-Ikon Read More

 

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