Nigeria in 1min: Economic, Business and Financial Headlines - 190321


Friday, March 19, 2021 / 5:43 AM / By News Aggregator / Header Image Credit: Twitter; @FinMinNigeria

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COVID-19 Health Updates 

  • 18th of March 2021: Nigeria COVID19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 161,409 cases (New: 135)
  • Discharged:  146,890
  • Deaths: : 2027 (New: 0)

Source: NCDC Read More

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Global Oil Majors Accelerate Energy Transition Strategies - Large oil and gas (O&G) companies are tightening emission reduction targets and accelerating transition strategies, with European majors leading but their peers catching up, Fitch Ratings says. Source Fitch Ratings Read More

FG: Nigeria's Excess Crude Account Balance Stands at $72.4m - Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday disclosed that the nation's excess crude account (ECA) balance as at March 16, 2021, stood at $72,412,384.88. Source THISDAYLIVE Read More

Rising Inflation Worrisome, Says NECA - The Nigeria Employers' Consultative Association (NECA) on Wednesday in Lagos said the country's increasing rate of inflation over the past months might continue for a long time. NECA's Director-General (DG), Dr Timothy Olawale, in an interview with the News Agency of Nigeria (NAN), said the rate could further distort the management of the economy as prices of food products were over 57 per cent of average spending. Source The Nation Read More

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Investors Gain N109.20bn as NSEASI Inches Up by 0.54% Amid Improved Market Turnover -  Equities market closed today on a positive note, as NSEASI appreciated by +0.54% to close at 38,914.84 basis points as against -0.04% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.37%. Source Proshare Markets Read More

ALERT: 8.56% of UNITYBNK's Outstanding Shares Traded on NSE Today - At the close of trading today, a total volume of 1.00bn units of shares of Unity Bank Plc valued at N700.69mln were traded. This represents 68.17% of the total market volumes of 1.47bn while the value of UNITYBNK shares traded represents 11.97% of the total market value traded which was put at N5.85bn. Source Proshare Research Read More

GUARANTY Declares N201bn PAT in 2020 Audited Results, Proposes N2.70k Final Dividend; (SP:N29.80k) - Guaranty Trust Bank Plc released its 2020 Audited results for the period ended December 31st, 2020. Gross Earnings grew by 4.6% to N455bn from N435bn in the previous quarter. Profit before tax grew by 2.8% to N238bn. Source NSE Read More

Dangote Sugar Refinery Q4 2020 Results Review: Stable Volume and Price Mix to Anchor Growth in 2021 - In Q4' 20, DSR reported an EPS of NGN0.23 (-63.6% y/y), impacted by a negative surprise in tax expense (to NGN13.4bn in Q4 '20). Management revealed that this was due to deferred tax liabilities (DTL) adjustments following the merger with Savannah Sugar Company (SSC). Source FBNQuest Research Read More

Asia Stocks Spooked by Spike in Yields, Oil Sell-Off - Asian share markets eased on Friday as a spike in global bond yields soured sentiment toward richly priced tech stocks, while a stampede out of crowded positions in crude oil caused the sharpest setback in months. Source Reuters Read More

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TCN Constructs, Energises 600MW Power Transmission Line - The Transmission Company of Nigeria on Friday said it had completed the construction of a new transmission tower in Ajah, Lagos and also strung the old and new 330 kilovolts Egbin-Ajah transmission lines. Source Punch Read More

U.S. Weekly Jobless Claims Increase; mid-Atlantic Factory Activity Near 50-Year High - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but the labor market is regaining its footing as an acceleration in the pace of vaccinations leads to more businesses reopening. Source Reuters Read More 


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Active Voice Subscribers Declined by -0.32% QoQ in Q4 2020 - NBS - Telecoms data for Q4 2020 reflected that a total 204,601,313 subscribers were active on voice as against 205,252,058 in Q3 2020. This represented a -0.32% decrease in voice subscriptions QoQ. Source NBS Read More

N6.98k USSD Fee: Who Benefits? - The Central Bank of Nigeria (CBN) released a circular detailing the resolution of a meeting between CBN, the Nigerian Communications Commission (NCC), Mobile Network Operators (MNOs), and Deposit Money Banks (DMBs), following threats by the MNOs to withdraw the Unstructured Supplementary Service Data (USSD) services nationwide. Source CSL Research Read More

UK Partners Nigeria to Enhance Digital Access - The Federal Ministry of Communications and Digital Economy and the Nigerian Communications Commission (NCC) in collaboration with UK's Digital Access Programme recently facilitated a technical conference on digital inclusion for underserved and unserved communities and Persons Living with Disabilities (PLWDs)'. Source THISDAYLIVE Read More

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