Nigeria in 1min: Economic, Business and Financial Headlines - 301220

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Wednesday, December 30, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @dabiodunMFR


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COVID-19 Health Updates

  • 29th of December 2020: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 85,560 cases (New: 749)
  • Discharged:  71,937
  • Deaths: : 1,267 (New: 3)

Source: NCDC Read More


PACAC Member, Prof. Femi Odekunle Is Dead: Odekunle died at the COVID-19 isolation center in Gwagalada, Abuja, on Tuesday evening. At the briefing of the presidential task force on COVID-19, Boss Mustapha, secretary to the government of the federation, had said: "A good friend of this government just passed on at 6:30pm". Source The Nigeria Lawyer Read More


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Eight Lessons from 2020: The Year That Was - My favourite end-of-the-year quote, which I have shared with many others, is the following passage from Chapter 3 of the inimitable Chinua Achebe's Things Falls Apart, a novel of monumental, evergreen relevance, translated into over 50 languages, a product of pure genius, a milestone in world literature. Source Reuben Abati Read More

Oil Prices Climb on Stimulus Hopes - OIR 291220 - Oil has seesawed back and forth over the past week, sandwiched between very strong bullish and bearish forces on each side. Covid-19 is at its worst in many parts of the world, but vaccinations are picking up in earnest as well. Brent edged back above $51 per barrel after the house passed a major stimulus bill on Monday evening. Source Tom Kool of Oilprice Read More

Buhari to Sign 2021 Budget on Thursday - Barring any last-minute change in plan, the President, Major General Muhammadu Buhari (retd.), will sign the 2021 Appropriation Bill into law on Thursday, The PUNCH has learnt. The National Assembly had last Monday passed the N13.58tn budget for the next fiscal year. Source Punch Read More

Nigeria's GDP Growth Seen at 1% in 2021 - The Lagos Chamber of Commerce and Industry (LCCI) has projected that the Nigerian economy will grow by one per cent in 2021. The projection was contained in the LCCI's, "Economic and Business Review for Year 2020 and Outlook for Year 2021," released by its Director General, Dr. Muda Yusuf. Source THISDAYLIVE Read More

 

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Investors Gain N167.64bn as NSEASI Inches Up by 0.80% to Open the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.80% to close at 39,110.17 basis points as against -0.01% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +45.70%. Source Proshare Markets Read More

NT-Bills Market Sustains Tepid Performance as Average Yield Dips Marginally by -1bp WoW to 0.39% - Last week, the Nigerian Treasury Bills ("NT-Bills") secondary market witnessed a slight improvement in activity levels during the four-day trading week as average yields across all tenors contracted marginally by 1bp W-o-W to 0.39% from 0.40% the previous week. Source Afrinvest Research Read More

Nigerian Stocks Head for Best Annual Run Since 2013 - Nigerian stocks are headed for their highest annual gain in seven years riding on low yields in the country's fixed-income market. The equities benchmark index in Africa's largest economy recorded its highest return, rising 45.7% this year. Source Bloomberg Read More


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Fidelity Bank Notifies of Retirement of Four Directors, Appoints Three New Directors - Fidelity Bank Plc hereby informs the General Public of the following Board changes, which have been formally notified to the Central Bank of Nigeria. Source NSE Read More 

Default on Loans with Collateral Worsened in Q4 - CBN - The default on loans with collateral worsened in the fourth quarter of 2020, according to the Central Bank of Nigeria. The statistics department of the CBN disclosed this in its fourth quarter 'Credit condition survey report' on Tuesday. Source Punch Read More

CBN Foresees Sustained Growth in Private Sector Credit - The Central Bank of Nigeria's (CBN) Credit Conditions Survey Report for fourth quarter (Q4) 2020 has stated that the availability of credit to the corporate sector increased in Q4 2020, and was also expected to rise in the first quarter (Q1) of 2021. Source THISDAYLIVE Read More

Oil up on Hopes of Recovery in Demand, Lower U.S. inventories - Oil gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and a decline in crude oil inventories lifted prices. Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and U.S. West Texas Intermediate (WTI) crude rose 29 cents, or 0.6%, to $48.29. Source Reuters Read More


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3 Developments That Will Shape Nigeria's ICT Sector In 2021 - Shina Badaru - As 2021 beckons the Information and Communication Technology Sector is poised for interesting developments that will reposition it to deepen the growth of Nigeria's economy, and increase business opportunities across the country. Source WebTV Read More

India to Impose 18% Tax on Bitcoin Trading - India's Central Economic Intelligence Bureau (CEIB), an important part of the Indian Finance Ministry has put forward a proposal to the Government to impose an 18% tax on Bitcoin trading in the country. Source Finance Magnates Read More 

 

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How Insurance Can Help us in 2021 and Beyond - Insurance is, indeed, part of our future but most of us prefer to discuss it in the present, asking questions like, "What can I get from it?" rather than seeking to answer the crucial question of "How did I plan to survive this time?". Source Ekerete Olawoye Gam-Ikon Read More

 

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