Nigeria in 1min: Economic, Business and Financial Headlines - 281020

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Wednesday, October 28, 2020 / 6:00 AM / By News Aggregator / Header Image Credit:  Twitter; @followlasg


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COVID-19 Health Updates

  • 27th of October 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 62,224 cases (New: 113)
  • Discharged:  57,916
  • Deaths: : 1,135 (New: 3)

Source: NCDC Read More


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PROSHARE ECONOMY 

NSE Forum: Stakeholders Urge Oil and Gas Companies To Leverage Capital Market - Stakeholders have called on Oil and Gas Companies in Nigeria, to leverage the capital market and explore innovativeness and adaptability to navigate the challenging times in the industry. Source WebTV Read More

#EndSARS: The State of The "Revolution" - Things went out of hand very quickly with the emerging Nigerian "revolution" when on Tuesday, October 20, 2020, soldiers stormed the Lekki Toll Gate Plaza in Lagos, and started shooting. We were told they shot in the air. But the reports have been conflicting and troubling. Source OpEd by Reuben Abati Read More

Oil Demand in Doubt as COVID Cases Climb - OIR 271020 - Oil prices declined on Monday on the worsening pandemic in Europe and the U.S. Meanwhile, fading hopes of a stimulus and the restart of Libyan oil production also weighed on the market.  Source Josh Owens of Oilprice Read More

 

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PROSHARE MARKETS

Banks in H1 2020: Deconstructing Banks' H1 2020 Individual Performances - Unlisted Banks - Although not listed on the Nigerian Stock Exchange, Nova merchant bank offers financial solutions majorly wholesale banking and investment banking. Its 2019 result released by the merchant bank shows tremendous improvement from the 2018 financial position of the lender. Source Proshare Markets Read More

Investors Gain N105.76bn as NSEASI Inches Up by 0.70% Amid Improved Market Breadth - Equities market closed today on a positive note, as NSEASI appreciated by +0.28% to close at 28,777.96 basis points as against +0.28% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.21%. Source Proshare Markets Read More

Upturn In Bond Yields Triggered By Increasing Supply - The FGN Bonds market opening session for a new week was met with a flurry of supplies, as demand slowed at the tail of the bond curve despite the bond coupon inflow that hit the system. Although demand for short and mid dated bonds remained very healthy, market appetite waned slightly for 2049s and 2050s which has been most-sort after bonds in recent time. Source Zedcrest Capital Read More

 

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PROSHARE BUSINESS

CACOVID Appeals for Calm Over Looting of COVID-19 Palliatives - Members of the Private Sector-led Coalition Against COVID-19 (CACOVID) wish to call for calm, amidst the looting of COVID-19 palliatives meant for distribution in various State Government warehouses across the country. Source CACOVID Read More

Niger, Benin, Togo Pay Nigeria N2.04bn Electricity Bill - International customers - Niger, Benin, Togo - who purchase power from Nigeria remitted a total of N2.04bn in the first quarter of this year as their outstanding electricity bill to the Market Operator of the sector in Nigeria. Source Punch Read More

NNPC Demands Calm as Fuel Queues Surface in FCT, Others - Petrol queues surfaced in parts of Abuja and neighbouring states of Nasarawa and Niger on Monday evening and intensified on Tuesday. Motorists besieged the few filling stations that dispensed petrol, forming long queues, while many other outlets were locked. Source Punch Read More

World Leaders Pledge to Bridge Skills Gap - World leaders have expressed their commitment to reskilling people with in-demand skills for economic recovery post COVID-19. The leaders from government, business and civil society highlighted strategies to close employment gaps and promote social inclusion in their countries during the Jobs Reset Summit hosted by World Economic Forum. Source Punch Read More

DPR: Waltersmith Modular Refinery Ready for Operations - The Department of Petroleum Resources (DPR) has said that the 5,000 barrels per day (bpd) Waltersmith Modular Refinery project is fully ready for operations. The Director of DPR, Mr Sarki Auwalu, stated this during a pre-commissioning visit to the project site located in Ibigwe, Imo State recently. Source THISDAYLIVE Read More

NERC's Operating Revenue Increases by 57% - The total revenue accruing to the Nigerian Electricity Regulatory Commission (NERC) increased by 57 per cent in the first quarter of 2020, the power industry regulator, has disclosed. Source THISDAYLIVE Read More

Terminal Operators Condemn Burning of NPA Building, Want Ports Reopened - The Seaport Terminal Operators Association of Nigeria (STOAN), has condemned the looting and burning of the headquarters building of the Nigerian Ports Authority (NPA). Source The Guardian Nigeria Read More

 

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PROSHARE TECHNOLOGY   

Tech Chief Executives to Defend Key Law in Front of U.S. Senate Panel on Wednesday - The chief executives of Twitter Inc TWTR.N, Facebook FB.O and Alphabet Inc GOOGL.O will tell U.S. lawmakers at a hearing on Wednesday that a federal law protecting internet companies is crucial to free expression on the internet, according to written testimonies from the companies seen by Reuters. Source Reuters Read More


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PROSHARE FINANCE

#ENDSARS Events and the Impact on the Insurance Industry - The peaceful protests staged by youths across the country, mobilized through various social media platforms to protest against the activities of the Special Anti-Robbery Squad (SARS), took a sad turn last week following alleged shooting of unarmed protesters at the Lekki toll gate. Source Read More

#EndSARS: An Opportunity to Deepen Insurance Penetration In Nigeria - Ekerete Ola Gam-Ikon - The recent unprecedented violence that followed the nationwide protests against the excess use of force by the Federal Special Anti-Robbery Squad (FSARS) led to wanton destruction of businesses, social assets, and institutions. Source WebTV Read More


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