Nigeria in 1min: Economic, Business and Financial Headlines - 220121


Friday, January 22, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @followlasg

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COVID-19 Health Updates 

  • 21st of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 116,655 cases (New: 1964)
  • Discharged:  93,646
  • Deaths: : 1485 (New: 7)

Source: NCDC Read More

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Average Price of 1kg of Tomato Increases by 17.51% YoY in December 2020 - NBS - Selected food price watch data for December 2020 reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 9.12% and month-on month by 0.98% to N499.55 in December 2020 from N494.72 in November 2020. Source NBS Read More

Debt Servicing, Greatest Risk to Nigeria's Economy - Adesina - The African Development Bank has projected a growth rate of 1.5 per cent for Nigeria in 2021, and a 2.9 per cent growth in 2022. The President, AfDB, Dr Akinwumi Adesina, disclosed this while delivering a speech at the first national tax dialogue on Thursday. Source Punch Read More

COVID-19: FG Approves N6.45bn for 38 New Oxygen Plants Nationwide - The federal government has approved N6.45 billion for the establishment of gas plants in 38 locations nationwide in a bid to enhance the treatment of Covid-19 patients who need oxygen. Source THISDAYLIVE Read More

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Investors Lose N25.41bn as NSEASI Dips by -0.12% Amid Renewed Sell Pressure - Equities market closed today on a negative note, as NSEASI depreciated by -0.12% to close at 41,099.15 basis points as against +0.23% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +2.06%. Source Proshare Markets Read More

ALERT: 1.05% of TRANSCORP's Outstanding Shares Traded on NSE Today - At the close of trading today, a total volume of 428.29mln units of shares of Transcorp Plc valued at N559.21mln was traded. This represents 38.19% of the total market volumes of 1.12bn while the value of TRANSCORP shares traded represents 8.74% of the total market value traded which was put at N6.39bn. Source Proshare Research Read More

DMO Raises 81.57% of Planned N150bn as Investors Demand Higher Yields - The FGN bonds market held its breath in today's session as traders anticipated the FGN Bond primary market auction results. Yields across the benchmark curve remained mostly unchanged from the previous day, with improved offers at the mid- to long-end of the curve, as sentiments for a bearish auction result amplified throughout the trading session. Source Zedcrest Capital Read More 


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CAC Upgrades Its Company Registration Portals to Automate Pre- and Post-Incorporation Procedures - The Corporate Affairs Commission (CAC) recently announced the upgrade its website and online registration portal ("the Portal") to include features, which allow for the automation of some selected services and processes, in line with the Federal Government's mandate of improving the ease of doing business in Nigeria. Source Wole Obayomi Read More

FG Contracts N900m Railway E-Ticketing Service to Concessionaire - The Federal Government on Thursday officially inaugurated the e-ticketing service on the Abuja-Kaduna rail corridor and also announced that the service would be run by a concessionaire. Source Punch Read More

AfDB, EIB Seal Deal to Enhance Africa's Development - The African Development Bank (AfDB) and the European Investment Bank (EIB) yesterday signed a joint partnership action plan on how to boost public and private sector investment in Africa. Source Punch Read More

Oil Prices Rally as IEA Sees Lower Production This Year - The International Energy Agency (IEA) has adjusted the crude oil demand recovery outlook for this year by 300,000 barrels per day (bpd) to 5.5 million bpd in its latest Oil Market Report, yesterday. Source The Guardian Nigeria Read More

Biden Administration Pauses Federal Drilling Program in Climate Push - U.S. President Joe Biden's administration has temporarily suspended oil and gas permitting on federal lands and waters in the latest of a series of rapid-fire orders aimed at fighting climate change and tamping down the U.S. fossil fuel industry. Source Reuters Read More


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Nigeria's Telephone Subscribers Now 208 Million - NCC - The number of active telephone subscribers across the country has risen to 208 million, the Nigerian Communications Commission said on Thursday. It also stated that third generation (3G) and fourth generation (4G) base transceiver stations deployment in Nigeria had increased from 30,000 to 53,460. Source Punch Read More

TCN Faults N1.5tn Intervention in Power Sector - The about N1.5tn intervention of the Federal Government in the power sector is not reflecting in the current performance of the industry, the Transmission Company of Nigeria said on Thursday. According to TCN, the intervention was done to boost the performance of operators in the power value chain but this had yet to improve the outputs of players in the space. Source Punch Read More 


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How Millennials Can Create A Vision Board and Build Success - Creating a vision board is an activity that is embarked on at the beginning of the year for most individuals, it is a strategy that helps individuals to identify their goals, plans, and dreams for the future and The Millennial Talk program anchors in their recent discussion demonstrated 'How to Create a Vision Board'. Source Bukunmi Adejobi, Proshare Research, and Taiyese Nifemi, WebTV Read More

Asset Under Management Increased by 23% YoY to N12.29trn in November 2020 - Data from the regulator tell us that assets under management (AUM) of the pension industry increased by 23.0% y/y to NGN12.29trn (USD31.3bn) in November, and by 2.0% m/m. The asset mix remains heavily concentrated in FGN securities, which accounted for 66.2% of the total. Source FBNQuest Research Read More

The Nigerian Insurance Sector, Repositioning for Efficiency - The Nigerian Insurance sector is critical to propelling income equality and reducing the poverty level of any society, but the industry's performance has continued to drag amid many factors, such as; low underwriting capacity of players, lack of trust by consumers, poverty and the inadequacy of distribution infrastructure. Source CSL Research Read More


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