Nigeria in 1min: Economic, Business and Financial Headlines - 200721

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Tuesday, July 20, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics


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COVID-19 Health Updates

  • 19th of July 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 169,678 cases (New: 146)
  • Discharged: 164,710
  • Deaths: : 2,128 (New: 1)

Source: NCDC Read More


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PROSHARE ECONOMY

Another Gentle Slowdown in Inflation in June 2021 - The June report from the NBS shows a third successive decline in headline inflation, to 17.75% y/y from 17.93% the previous month. Our expectation, shared with the newswires, was a slightly higher rate of 17.85%. Source By FBNQuest Research Read More

DPR: Without Alternative Energy, Petrol Price Will Rise on Subsidy Removal - The Department of Petroleum Resources (DPR) has warned that the pump price of petrol in the country may rise up to as much as N1000 per litre when petrol subsidy regime comes to an end without an alternative energy source. Source THISDAYLIVE Read More

 

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PROSHARE MARKETS

Investors Gain N2.85bn as NSEASI Up Marginally by 0.01% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.01% to close at 37,952.65 basis points as against +0.21% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.76%.  Source Proshare Markets Read More

FMDQ Foreign Exchange (FX) Market Analysis Report for Week-Ended July 16, 2021 - In the FX Spot, Forwards and Futures markets, the total turnover for the week-ended July 16, 2021, was $767.19 million, representing an increase of 15.71% ($104.15 million) from $663.04 million reported for the week-ended July 9, 2021. Source By FMDQ Read More

Afrinvest Stock Recommendation for the Week 190721 - Last week, the performance of the domestic equities market was mixed as the benchmark index closed in the green on 2 of the 5 trading sessions. Consequently, the All-Share Index (ASI) declined by 12bps w/w to settle at 37,947.18 points. Source By Afrinvest Research Read More

NT-Bills Update: Bullish Turn, as Average Yield Falls 19bps WoW - The Nigerian Treasury Bills ("NT-Bills") secondary market last week turned bullish on the back of improved system liquidity (N66.14bn long on Friday) with average yield across instruments dipping 19bps W-o-W to close at 6.69%. Source By Afrinvest Research Read More

 

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PROSHARE BUSINESS

Why Nigeria's AfCFTA Trade Policy Should be Broader - Ogho Okita - Nigeria's proposed revised trade policy must be broad-based and holistic supporting a productive economy if it hopes to benefit from the African Continental Free Trade Agreement (AfCFTA). Source By Ottoabasi Abasiekong for WebTV Read More

3 Years Later, SEC and Oando Plc Resolve Impasse - Pursuant to the powers conferred on the Securities and Exchange Commission (the Commission) by the Investments and Securities Act 2007, and the Rules and Regulations made pursuant thereto, the Commission on Thursday, July 15, 2021, entered into a Settlement with Oando Plc (the Company). Source By SEC Nigeria Read More

Attaining Self-Sufficiency in Sugar Production - Last week, the Central Bank of Nigeria (CBN) issued a circular stating that only three sugar refining companies, with considerable progress in achieving an agreed backward integration plan will be allowed to source FX from the official window to import sugar into the country. Source By CSL Research Read More

AMCON Recovers N1.4tn, Says 350 Chronic Debtors Owe N2.05tn - The Managing Director of the Assets Management Corporation of Nigeria, Ahmed Kuru, on Monday disclosed that so far, the corporation had recovered about N1.48tn out of N4.158tn owed by bank debtors. Source Punch Read More

NERC Unveils 99 Metering Companies - The Nigerian Electricity Regulatory Commission (NERC) has announced 99 metering service providers for the Nigerian Electricity Supply Industry (NESI). In a notice on its website, the Commission explained that some of the licenses of the providers were new while it renewed some expired ones. Source The Nation Read More

Oil Plunges to $68, Nigeria Seeks Increased Production Quota - The international oil benchmark, Brent crude, tumbled below the $70 per barrel mark on Monday after the Organisation of the Petroleum Exporting Countries and its allies agreed to increase their production by 400,000 barrels per day starting from August. Source Punch Read More

Lagos to Complete Ikeja Regeneration in Six Months - The Special Adviser to the Lagos State Governor on Works and Infrastructure, Mrs Aramide Adeyoye, has said that the Ikeja G.R.A Urban Regeneration Project would be completed within six months in order to reverse the environmental and infrastructural challenges posed by occasional flooding. Source Punch Read More

 

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PROSHARE TECHNOLOGY

Who Moved My Cheese? An Exposition into the Changing Dynamics of the Traditional - The book - Who moved my cheese by Dr. Spenser Johnson - is both a literal masterpiece and is indisputably relevant in modern leadership and business strategy. Source By Coronation Merchant Bank Read More

How Does Blockchain Technology Work? - The technology of Blockchain is a system that stored transactional documents in a network connected to the public through peer-to-peer knots in many databases - the 'chain.' This is also known as the blockchain. Usually, this storage is called a digital archive. Source By Bilal Ahmed Read More

 

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PROSHARE FINANCE

AXA Mansard Emerges Best Health Insurance Company in Nigeria - Health Management Organization, AXA Mansard Health Limited, has announced that it has emerged as the Best Health Insurance Company in Nigeria, at the just concluded 2021 International Finance Awards. Source By AXA Mansard Read More


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