Nigeria in 1min: Economic, Business and Financial Headlines - 291220


Tuesday, December 28, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Ecographics

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COVID-19 Health Updates

  • 28th of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 84,811 cases (New: 397)
  • Discharged:  71,357
  • Deaths: : 1,264 (New: 10)

Source: NCDC Read More

Download PDF Here - Lagos State COVID-19 Update December 28, 2020

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CBN Poll: Respondent Firms Expect the Naira to Depreciate Next Month - The December 2020 Business Expectations Survey was conducted online from December 7-11, 2020 with a sample size of 1050 businesses nationwide. A response rate of 91.3 per cent was achieved and the sample covered the agric./services1 , manufacturing, wholesale/retail trade and construction sectors. Source CBN Read More

The Very Real Possibility Of Peak Oil Supply - Three months ago, British oil giant BP Plc. (NYSE:BP) sent shockwaves through the oil and gas sector after it declared that Peak Oil demand was already behind us. In the company's 2020 Energy Outlook. Source Alex Kimani Read More

National Assembly Transmits N13.5tn Budget to Buhari - The National Assembly has transmitted the 2021 Appropriation Bill of N13.5tn to the President, Major General Muhammadu Buhari (retd.). The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Babajide Omoworare, disclosed this to The PUNCH in a terse text message on Monday. Source Punch Read More

African Countries Not Ready To Implement Free Trade From January - According to the Secretary-General of the Trade Zone, most African countries are not ready to implement the conditions of the African Continent Free Trade Area when the new zone comes into force on January 1. Source FT Read More

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Nigeria's Port Crisis: the $4,000 Charge to Carry Goods Across Lagos - The congestion at the port in Lagos has become so bad that it can cost more than $4,000 to truck a container 20km to the Nigerian mainland these days, almost as much as it costs to ship one 12,000 nautical miles from China. Source Neil Munshi, Financial Times Read More

COVID-19 second wave: FG, National Assembly Consider UK, US flights' Ban Next Week - The Chairman of the Senate Committee on Aviation, Senator Smart Adeyemi, on Monday said the National Assembly and the Ministry of Aviation were considering banning flights from the United Kingdom, the United States and other countries with high rates of COVID-19. Source Punch Read More

Afreximbank Predicts 10% Rise in 2021 Oil Prices - Oil prices are expected to rise around 10 per cent over the next year, according to the Afreximbank African Commodity Index for the third quarter of 2020. Source Punch Read More

Nigeria Risks Losing 38% Deepwater Oil Output 2025 - Operators - The fiscal terms in the current Petroleum Industry Bill may lead to a 38 per cent reduction in Nigeria's deepwater oil production in 2025, an industry group comprising international and indigenous oil firms in the country has said. Source Punch Read More

ABCON Seeks to Become Payment Agents for Diaspora Remittances - The Association of Bureaux De Change Operators of Nigeria (ABCON) has appealed to the Central Bank of Nigeria (CBN) to make Bureaux De Change (BDCs) payout agents for Diaspora remittances. Source THISDAYLIVE Read More

U.S. House Approves $2,000 Coronavirus Aid Checks Sought by Trump - The Democratic-led U.S. House of Representatives voted 275-134 to meet President Donald Trump's demand for $2,000 COVID-19 relief checks on Monday, sending the measure on to an uncertain future in the Republican-controlled Senate. Source Reuters Read More

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FintechNGR 2020 in Retrospect - 2020 has been an intriguing year with the effect of COVID-19 and its multifaceted impact on all spheres of life, both positively and negatively. While the negative impacts of COVID-19 cannot be underplayed, it has also played out positively in accelerating digital adoption journey across divides. Source FintechNGR Read More


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#PFSeries3 - Investing in Peace of Mind: Focus on Insurance - Insurance remains one of the least understood economic catalysts and the value it offers is readily misplaced when categorized as a cost element by all. Over many centuries after the practice of insurance started, it has developed to be accepted across continents as the most tested risk management mechanism and continues to protect the wealth of individuals, organizations, and governments. Source Ekerete Olawoye Gam-Ikon in partnership with Proshare Finance Read More

IsDB and Oxford University Sign Agreement to Collaborate on Multidimensional Poverty Assessment - The Islamic Development Bank (IsDB), represented by the Islamic Research and Training Institute (IRTI), has signed an agreement with the Oxford Poverty and Human Development Initiative (OPHI) of the University of Oxford to collaborate in undertaking multidimensional poverty assessments in IsDB Member Countries. Source IRTI Read More

Court Restrains NAICOM from Enforcing Deadline on Recapitalisation of Insurance Firms - As anticipated, the courts has apparently saved NAICOM the embarrassment of being seen as "unable to accomplish the deadline" set given the realities of, and impact of Covid-19 in the year. Source Alex Enumah Read More

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