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Monday, November 23, 2020 / 6:00 AM / By News Aggregator / Header
Image Credit: Twitter; @NigeriaGov
COVID-19 Health Updates
Source: NCDC Read More
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PROSHARE ECONOMY
Nigeria Slips into Recession; Real GDP Contracts by -3.62% in Q3 2020 - Nigeria's gross domestic product (GDP) recorded a growth rate of -3.62% (year-on-year) in real terms in the third quarter of 2020. While this represents an improvement of 2.48% points over the -6.10% growth rate recorded in the preceding quarter (Q2 2020). Source NBS Read More
Average Fare Paid By Commuters for Bus Journey Intercity Increases by 9.25% MoM in October 2020 - The Transport fare Watch report for October 2020 covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport. Source NBS Read More
Why The New
Automotive Policy Is Driving On Empty - Salon cars soon to be manufactured in Nigeria!!! -
This is the vision of the Minister of Trade and Investment- Dr. Olusegun Aganga
who first announced the new automotive policy for Nigeria. Source FDC Read More
UCHE ORJI : Nigerian
Economy Remains Attractive for Investors - The NSIA's Future
Generations Fund is targeted at the next generations of Nigerians. What is the
NSIA doing to prepare the next generation to benefit from the fund? Before I
answer the question, let me provide you a background. The NSIA was set up with
a three-fold mandate: provide a savings base for the Nigerian people. Source THISDAYLIVE
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PROSHARE MARKETS
What To Expect From The Markets This Week- 231120 - Nigeria's manufacturing sector expanded following six months of contraction. The CBN, in its latest Purchasing Managers' Index Survey Report, noted that the manufacturing PMI stood at 50.2 index points in November, indicating a recovery from the contraction recorded in manufacturing sector since May 2020. Source Proshare Content Read More
GT Bank 9Months 2020 Result: Braving A Storm, Earnings Up 1.23% - GT Bank recently posted its 9months 2020 results, recording improved performance across broad financial matrices although growth seems to have slowed amidst tough economic headwinds in 2020 majorly caused by industry and trade dislocations related to the global COVID-19 pandemic; the bank, however, appears to be pushing forward. Source Adaeze Nwachukwu, Proshare Research Read More
Conoil Q3 2020: Profit Dips as Oil Industry Outlook Remains Cloudy - Conoil Plc recorded a decline in its financial performance in Q3 2020 as the impact of a liquidity squeeze, economic contraction, the rising cost of funds and scarcity of foreign exchange weighed in on its profitability. Conoil Plc recorded a dip in its PBT by -33.47%, declining from N2.45bn in Q3 2019 to N1.63bn in Q3 2020. Source Proshare Research Read More
Union Bank 9 Months 2020 Results: Waking Up to New Opportunities, But Working on Challenges - Gross earnings for the Group increased Year-on-Year (Y-o-Y) by +3.61% from N117.15bn in 9months 2019 to N121.38bn in 9months 2020. The growth in gross earnings was driven by a +0.51% rise in interest income and a -9.82% decline in interest expense. Source Adaeze Nwachukwu, Proshare Research Read More
Coronavirus Vaccine: Tailwind for Oil, Headwind
for Gold - The Second wave of the Coronavirus is jeopardizing the world economy. The
spread of the coronavirus infection and widening COVID-19 Restrictions in the
United States and other parts of the world has hampered fuel demand. Source Funsho
Idowu, Proshare research Read More
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PROSHARE BUSINESS
The Secret Origins of China's
40-Year Plan to End Carbon Emissions - The
biggest emitter of planet-warming pollution managed to take almost the whole
world by surprise. In a September speech to the United Nations, Chinese
President Xi Jinping put a 2060 end date on his country's contribution to
global warming. Source Bloomberg Read
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Rising Petrol Cost: Stakeholders
Demand Full deregulation - Resurgent calls for a full and transparent
deregulation of the downstream oil and gas sector have greeted the recent
increase of about five per cent from N160/litre to N168/litre in the retail
prices of petrol. Source Punch Read
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Ease Lagos-Ibadan Expressway Congestion for Christmas,
Fashola tells Contractors - The
Minister of Works and Housing, Babatunde Fashola, on Sunday said the Federal
Government would complete the Lagos-Ibadan Expressway project despite scarce
resources as a result of the sharp drop in oil prices. Source Punch Read
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Train 7 to Create 52,000 Jobs, Says NLNG - The Managing Director and Chief Executive Officer of
the Nigerian Liquified Natural Gas, Tony Attah, has said that at least 55 per
cent of the scope of work on the newly signed Train 7 project of the Nigerian
Liquefied Natural Gas Limited, NLNG will be domesticated in Nigeria to create
an additional 50,000 jobs in the country. Source Punch Read More
Kyari: Gas Supply to Power Generating Companies has
Improved - Group Managing
Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele
Kyari, has said that gas supply to power generating companies (Gencos), has
significantly improved, adding that the major challenge now is that of
transmission. Source THISDAYLIVE Read
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Business
PROSHARE FINANCE
AXA Mansard,
Curacel Sponsor First-Ever Insurance and Technology Conference in Nigeria - The producers of InsurTech Business Series Podcast
have concluded plans to host the first-ever insurance and technology conference
in the country. Themed Innovation and Partnerships for Sustainable Insurance,
the maiden conference holds virtually on Friday, November 27, 2020, from 10 am
to 4 pm. Source InsurTech Business Series Conference Read More
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PROSHARE MSME
MSME Survival Fund: SMEDAN Warns
Applicants to Be Wary of Extortionists - The Small
and Medium Enterprises Development Agency of Nigeria (SMEDAN) has warned
applicants of the MSME Survival Fund to be wary of extortionists and refrain
from giving money to anybody to access the funds. Source THISDAYLIVE Read
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MSME
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