Nigeria in 1min: Economic, Business and Financial Headlines - 280521

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Friday, May 28, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @FinMinNigeria


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COVID-19 Health Updates 

  • 27th of May 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 166,191 cases (New: 45)
  • Discharged: 156,535 
  • Deaths: : 2071 (New: 4)

Source: NCDC Read More

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PROSHARE ECONOMY

Average Fare Paid by Commuters for Intercity Bus Journey Increased by 1.48% MoM in April 2021 - NBS - The Transport fare Watch report for April 2021 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

Average Prices of 1kg of Tomato Increased by 0.09% YoY in April 2021 - NBS - Selected food price watch data for April 2021 reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 11.26% and month-on-month by 1.13% to N530.40 in April 2021 from N524.47 in March 2021. Source NBS Read More

2021 Children's Day: How Corporate Nigeria Supports Children - As Nigeria joins other nations to mark the 2021 Children's Day, WebTV highlights some of the corporate organizations in Nigeria, that have developed products or programmes to support the Nigerian child. Source WebTV Read More

World Bank Approves $700m Loan to Improve Water Supply, Sanitation and Hygiene Services in Nigeria - The World Bank today approved the Nigeria Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene Program (SURWASH). The $700 million credit from the International Development Association (IDA)* will provide 6 million people with basic drinking water services and 1.4 million people access to improved sanitation services. Source World Bank Group Read More 

Nigeria Needs $2b Monthly for Fiscal Sustainability as FG Builds Oil Reserves - The Department of Petroleum Resources (DPR) has stated that the country needs over $2 billion monthly revenue to remain sustainable as a nation. The Director, DPR, Sarki Auwalu, warned that without this monthly income, the economy would be in doldrums as over 70 per cent of the $2 billion is presently being realized through the nation's oil and gas sector. Source The Guardian Nigeria Read More

Emefiele: N35tn Infrastructure Investment Required for Double-Digit Growth - The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has declared that about N35 trillion investment in infrastructure is required for the economy to post a double-digit growth. Source THISDAYLIVE Read More


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PROSHARE MARKETS

Investors Lose N98.57bn, NSEASI Dips by -0.49% as Sell Pressure Persists - Equities market closed today on a negative note, as NSEASI depreciated by -0.49% to close at 38,044.58 basis points as against -0.06% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -5.53%. Source Proshare Markets Read More

Domestic and Foreign Portfolio Participation in Equity Trading - April 2021 - On a monthly basis, Nigerian Exchange Limited ("NGX") polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI)4 flows. As at 30 April 2021, total transactions at the nation's bourse decreased by 30.01% from N228.49 billion (about $560.55million) in March 2021 5 to N159.93billion (about $389.84million) in April 20216. Source NGX Read More 

 

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PROSHARE BUSINESS

Workforce Planning in the New Normal - The future is here. Business leaders need to incorporate thinking about the future into their workforce planning process. Plans around talent need to be fluid and flexible. Organisations can increase employee retention and appeal to prospective employees by incorporating talent flexibility and adaptability into workforce planning for the next three to five years. Source By Mayowa Oloyede, Senior Consultant, Phillips Consulting Read More 

NNPC's Trading Surplus Rises to N39.85bn - The Nigerian National Petroleum Corporation, on Thursday, announced a N39.85bn trading surplus for February 2021, representing a 314.24 per cent rise from the N9.62bn surplus it recorded in the preceding month. Source Punch Read More

Dangote Refinery: Marketers Differ on NNPC Proposed Stake Acquisition - Oil marketers have expressed divergent views on the proposed acquisition of a 20 per cent stake by the Nigerian National Petroleum Corporation in Dangote refinery. S&P Global Platts had reported on Thursday that the NNPC was in advanced talks with Dangote Industries to acquire a 20 per cent stake in the 650,000 bpd Dangote oil refinery. Source Punch Read More

FG Expects First Oil from New Marginal Fields by 2022 - The Federal Government has said it is expecting most of the marginal fields, which investors bid for in the recently concluded bid round, will achieve first oil starting from next year. Source Punch Read More

LCCI Backs NNPC's Plan of 20% Stake in Dangote Refinery - The Lagos Chamber of Commerce and Industry (LCCI) has thrown its support to the plan by the Nigerian National Petroleum Corporation (NNPC) to acquire 20 per cent minority equity stake in the 650,000 barrels per day Dangote Refinery currently under construction in Lagos. Source THISDAYLIVE Read More

Any Attempt to Hike Fuel Price Will Be Resisted - NLC - The Nigeria Labour Congress (NLC) has said that any attempt to increase the price of petrol will be met with strong resistance by workers. This was part of the resolutions reached by the congress at its National Executive Council (NEC) meeting which ended on Wednesday in Abuja. Source LeadershipNG Read More


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PROSHARE FINANCE

April 2021 PFI Portfolio Report: Net Asset Value Records First Rise in 2021 - The National Pension Commission (PENCOM) released the April 2021 Pension Fund Industry (PFI) portfolio report, yesterday. Bucking the trend of successive declines since January 2021, the Net Asset Value (NAV) for April 2021 rose (47 basis points m/m) to N12.40tn from N12.34tn in March 2021. Source CSL Research Read More 


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