Nigeria in 1min: Economic, Business and Financial Headlines - 260321


Friday, March 26, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @cenbank

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COVID-19 Health Updates 

  • 25th of March 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 162,275 cases (New: 97)
  • Discharged:  149,882
  • Deaths: : 2036 (New: 5)

Source: NCDC Read More

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Afreximbank to Collaborate with NEXIM to Provide $50m Project Preparation Facilities - African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have entered into a Memorandum of Understanding (MoU) to establish a Joint Project Preparation Fund that will provide early project preparation financing and technical support services to public and private sector entities operating in Nigeria's trade sector. Source AFREXIM Read More

FG Makes N538bn from Ports Taxes in 12 Years - The Director-General of the Bureau of Public Enterprises, Mr Alex Okoh, has said that the Federal Government saved over N500bn from the privatisation of the ports infrastructure. Source Punch Read More

Petrol Price Hike Imminent as NNPC Declares N120bn Subsidy Unsustainable - The Group General Manager, Nigerian National Petroleum Corporation, Mele Kyari, on Thursday said the Federal Government subsidises Premium Motor Spirit with about N120bn ($263.25m) monthly. Source Punch Read More


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Investors Gain N108.49bn as NSEASI Inches Up by 0.53%, Maintains Positive Posture - Equities market closed today on a positive note, as NSEASI appreciated by +0.53% to close at 39,293.14 basis points as against +0.98% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.43%. Source Proshare Markets Read More

FITC Conference: How COVID-19 Has Led to Innovation in Employee Engagement - Despite the toll it has had on companies, the Covid-19 pandemic has also been responsible for innovations in how people work and relate to one another. Source WebTV Read More

One Year of Remote Trading: The NSE Experience - A year ago, The Nigerian Stock Exchange (NSE or The Exchange) made the bold move to activate its business continuity plan which saw the transition to remote trading in support of the fight against COVID-19. Source NSE Read More

Africa Displays Pockets of Positivity Amidst COVID-19 Fallout - The latest NielsenIQ Africa Prospects Indicator (APi) report Recalibrating for an Unprecedented Future which looks at the prospects of key countries across Sub-Saharan Africa (SSA) has revealed that despite the unprecedented times in which we live, there are pockets of positivity to drive businesses through the COVID-19 storm. Source NIELSENIQ Read More

Asian Stocks Set to Rise on Firmer U.S. Equities, Vaccine Hopes - Asian markets are set to open higher on Friday after U.S. equities rose as investors weighed the outlook for economic growth and inflation and welcomed progress on vaccination rollouts. Source Reuters Read More

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FG Launches Procurement e-Portal for Concession of 12 Highways - The Federal Government has declared opened an e-portal to mark the actual commencement of the procurement process for the concession of 12 federal highways being used as a pilot project under its already launched Highway Development and Management Initiative (HDMI). Source NIPC Read More

FHC Kano Rules for Oando Shareholders, Says SEC Overreached its Regulatory Powers - Oando shareholders in the persons of Alhaji Yakubu Gumel; Alhaji Kabiru Tambari, suing for himself and on behalf of the Sokoto Zone Shareholders Association; Tunde Badmus, suing for himself and for the benefits of Pacesetters Shareholders Association, bagged yet another win at the Federal High Court (FHC) Kano. Source News Read More

NNPC Generates N2.197tr from Petrol Sales in One Year - The Nigerian National Petroleum Corporation (NNPC) said it generated N2.197trillion from the sale of petrol between December 2019 and December 2020. In the period under review, the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, in a statement, said NNPC recorded an increase of 80.12 per cent in trading surplus for December 2020. Source The Nation Read More

Lagos Free Zone Eyes $5b Investment - The Lagos Free Zone (LFZ), which has an investment of $2 billion, is poised to attract an additional $5 billion over the next four years. Its Chief Executive Officer, Mr. Dinesh Rathi, who spoke at the Corporate Headquarters of the company in Ibeju-Lekki, during the visit of the state Governor. Source The Nation Read More

Developing countries losing $1trn annually to illicit financial flow - NEITI - THE Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, NEITI, Dr. Orji Ogbonnaya Orji has disclosed that developing countries lose about $1 trillion annually to illicit financial flows due to secret ownership of companies. Source Vanguard Read More

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Mobile Money Transactions Increased Globally by 65% in 2020 - GSMA - The GSM Association yesterday March 24th, 2021 published its annual 'State of the Industry Report on Mobile Money'. It revealed a dramatic acceleration in mobile transactions during the COVID-19 pandemic as lockdown restrictions limited access to cash and financial institutions. Source GSMA Read More

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