Nigeria in 1min: Economic, Business and Financial Headlines - 270421


Tuesday, April 27, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @FinMinNigeria


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COVID-19 Health Updates 

  • 26th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 164,756  cases (New: 37)
  • Discharged: 154,963
  • Deaths: : 2062 (New: 0)

Source: NCDC Read More

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Hospitality: COVID-19 Related Policy Shifts - Numerous policies have been embarked upon by different economies to help the travel and tourism sector stay afloat. For example, the Italian government approved the sum of 180m Euros towards tax credits for redevelopment and improvement of hospitality and spa sector companies. Source Proshare Research Read More

Planning for 400million: Nigeria's Opportunities and Challenges - 2050 - Nigeria - regarded as the largest economy in Africa and bustling with the promise of a young and enterprising populace with a median age of 18 years - is strategically poised for growth, although the African giant is struggling to take its rightful place on the world stage as it is heavily laden with deep infrastructural deficits and a weak path to sustainable economic growth and development. Source Molade Elodimuor, Coronation Capital Read More

2021 National Budget - KPMG Review and Implementation Notes - - The 2021 National Budget has support for economic recovery and growth as its top priority and focuses on internal generation of revenue and investment in capital infrastructure. Source Wole Obayomi Read More 

Electricity Tariffs May Rise in July, NERC Plans Review - The Nigerian Electricity Regulatory Commission on Monday announced that another tariff review for Nigeria's 11 power distribution companies would hold in July. It disclosed this in its notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies, a development that might lead to a rise in the tariffs payable by electricity users. Source Punch Read More

NACCIMA Calls for Greater Private Sector Involvement in Foreign Policy - The National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called for greater involvement of the private sector in the articulation and implementation of Nigeria's foreign policy as calls for review of Nigeria's foreign policy gains traction. Source The Nation Read More

Oil Drops to $65 as India's COVID-19 Cases Surge - The global oil benchmark, Brent crude, declined on Monday as the Organisation of the Petroleum Exporting Countries and its allies indicated that it was watching surging COVID-19 cases in India, the world's third-biggest oil importer. Source Punch Read More

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Eterna Plc FY 2020 Report: Declined Revenue with Forced Profit - Downstream oil & gas company, Eterna Oil Plc started 2020 with a win in its case against the Economic and Financial Crimes Commission (EFCC) on alleged fuel subsidy fraud, nevertheless, like most companies in the downstream oil and gas market, the retailer faced sizeable COVID-19-induced headwinds. Source Tosin Ige, Proshare Research Read More

Investors Gain N8.74bn as NSEASI Inches Up by 0.04% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.04% to close at 39,318.52 basis points as against +0.43% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -2.36%. Source Proshare Markets Read More

POLARIS Declares N28bn PAT in 2020 Audited Results - Polaris Bank Limited has released its full-year audited financial results for the year ended December 2020 posting a Profit Before Tax (PBT) of N28.9billion. The results which show the Bank's second-year performance scorecard after two years of operation, have further consolidated the Bank's position as focused on the path of profitability, growth, and value creation. Source Polaris Bank Limited Read More

ETI Declares N30.5bn PAT in Q1 2021 Results, (SP:N5.25k) - Ecobank Transnational Incorporated Plc, Banking  company  in Financial Services  sector announced 10% Gross Earnings growth in Q1'21 Results. Source NGX Group Read More 

S&P 500, Nasdaq Close at Record Highs Ahead of Technology Earnings Wave - The S&P 500 and Nasdaq closed at record highs on Monday, fueled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week. Source Reuters Read More

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AXA Mansard Changes Insurance Industry Narrative Through Innovation - AXA Mansard Insurance plc, a member of AXA, a worldwide leader in insurance and asset management has announced its commitment to deepen insurance coverage in Nigeria through the development of new innovative products and services. This was made known as the company joined the annual World Creativity and Innovation Day celebration. Source AXA Mansard Read More

AfCFTA: Business Editors Call for the Identification of Pockets of Competitiveness in Nigeria - The Amplification of Nigeria's pockets of competitiveness will enable it to derive value from the Africa Continental Free Trade Agreement (AfCFTA). Business and Financial editors in Nigeria made this point in an interactive webinar forum organized by the Centre for Social Protection and Policy Studies (CSPPS), University of Lagos research team in line with promoting thought-led conversations on the AFCFTA. Source Ottoabasi Abasiekong for WebTV Read More

Lagos Targets Conversion of One Million Vehicles to Autogas - Lagos State Government has outlined plans for the conversion of one million vehicles, representing 25 per cent of the four million vehicles in the state, to Autogas over a four-year period. Source THISDAYLIVE Read More

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Apple Boosts US Investment Pledge to $430 bn - Apple announced Monday it plans to boost its investment plans in the United States to $430 billion over the next five years, saying this would add some 20,000 jobs. Source The Guardian Nigeria Read More 


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Advantages and Disadvantages of Robot Teachers - Robot technology has become an integral part of society as it is now applicable in almost all areas of our lives. Robots are applicable in six common industries across the world. these industries include healthcare, agriculture, food preparation, manufacturing, military, and finally, the education industry. Source Outreach SEO Read More

Workers' Day: Ecobank Nigeria to Host Webinar on Survival Tips Amidst Rising Inflation - Ecobank Nigeria Limited has concluded plans to host a digital conference as part of its commemoration of this year's Workers' Day. According to Korede Demola-Adeniyi; Head, Consumer Banking, the webinar which is scheduled for the 29th of April titled "Inflation and Your Money - Our role As Your Bank". Source Ecobank Read More

DMO Requests for EOI for Roles of Parties for the Issuance of Sukuk in the Domestic Capital Market - The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria (FGN) seeks to appoint Transaction Parties for the Issuance of Sovereign Sukuk in the domestic capital market through an Open Competitive Bidding process. Source DMO Read More

Sahara Group Urges Increased Awareness on Occupational Safety and Health - Leading energy conglomerate, Sahara Group has called for increased stakeholder collaboration towards achieving sustained awareness campaigns and interventions that will enhance workplace safety and health across the globe. Source Sahara Group Read More 


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FG Revised Policy on MSMEs should Lead to Improved Targeted Interventions - The revised policy of the Federal Government on the Micro, Small and Medium Enterprises (MSME) is a welcome development and should lead to improved targeted interventions. Mr. Seye Olurotimi the Founder/President MSME Africa made this point in a recent conversation on policy steps designed to improve the activities of MSMEs in Nigeria. Source Ottoabasi Abasiekong for WebTV Read More 


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