Nigeria in 1min: Economic, Business and Financial Headlines - 030521

Proshare

Monday, May 03, 2020 / 6:00 AM / By News Aggregator / Header Image Credit: @jidesanwoolu


Proshare Nigeria Pvt. Ltd.


COVID-19 Health Updates 

  • 3rd of May 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 165,167 cases (New: 14)
  • Discharged: 155,361 
  • Deaths: : 2063 (New: 0)

Source: NCDC Read More

Proshare Nigeria Pvt. Ltd.


Click Here To Read Latest News Updates


 Proshare Nigeria Pvt. Ltd.


PROSHARE ECONOMY

Hospitality: The Future is Now - It is expected that the hospitality sector in Nigeria will record slow growth in 2021. Hotels that would remain relevant in 2021 and the future would need to adapt to their business operations in companionship with new trends and the emerging hydraulics of the industry. Source Proshare Research Read More

FGN Borrowing from the CBN - Curse or Blessing? - The standard definition of a central bank is that it is the bankers' bank and the bank to the government. Therefore, the central bank is often obliged to provide financial support to the government to meet its financing needs. Source FDC Limited  Read More 

Estimated Cost of Lifting 100m Nigerians Out of Poverty in 10 Years Put at $1.6trn - The Buhari administration's renewed and deepened focus on poverty reduction as a central concern of development is timely and appropriate. Over 80 million Nigerians are classified as poor, with more than 50 percent multi-dimensionally poor, because of their limited access to education, health, electricity and other basic services. Source Presidential Economic Advisory Council Read More

Dissecting the Financial Results of Companies in Nigeria's Hospitality Sector - IKEJAHOTEL - Ikeja Hotel Plc revenue declined by -59.5% to N5.07bn in 2020 from N12.52bn in 2019. Like other hotels in Nigeria, the effect of the coronavirus pandemic hit Ikeja Hotels plc harshly. Source Proshare Research Read More 

Dissecting the Financial Results of Companies in Nigeria's Hospitality Sector - TOURIST - Tourist Company of Nigeria recorded its lowest revenue in four years in 2020. The drop-off in revenue was attributed to the impact of the coronavirus pandemic on operations. The company's revenue slumped by -64.31% to N1.312bn in 2020 from N3.67bn in 2019. Source Proshare Research Read More 

Oil Prices Pull Back After A Big Week - 300421 - It was a big week for oil markets as demand optimism sent oil prices beyond $65 and oil majors reported promising earnings, but prices pulled back on Friday morning as covid concerns in India grew. Source Tom Kool of Oilprice.com Read More 

Moody's Completes Periodic Review of Ratings of SEPLAT Following April 28, 2021 Discussion - Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Seplat Petroleum Development Company Plc and other ratings that are associated with the same analytical unit. Source Moody's Investors Service Read More 

Inflation Eroding Minimum Wage Value, Says NLC - The Nigeria Labour Congress said on Friday that the inflation rate of 18.17 per cent has reduced the value of the N30,000 minimum wage. The Chairperson, NLC Lagos State Council, Funmi Sessi, told our correspondent in an interview that the challenges faced by workers were enormous. Source Punch Read More 

CBN's PMI Shows Improvement In Manufacturing Sector - The latest Purchasing Managers Index in manufacturing and non-manufacturing sectors by the Central Bank of Nigeria showed that there was general improvement in the sectors in February. According to the personal statements of members of the Monetary Policy Committee released by the CBN, the CBN Governor, Godwin Emefiele, disclosed that the PMI rose in February. Source Punch Read More 

 

Click Here to Read More News on Economy

 

Proshare Nigeria Pvt. Ltd.

 

PROSHARE REGULATORS 

SEC Amends Rules on Sub-broker, Records of Transactions With Clients, Creates Rule on Risk Mgmt - The Securities and Exchange Commission (SEC) has made major amendments to its Rule 67 on Sub-broker, Rule 70 which is on Records of Transactions With Clients and the creation of New Rule 76. Source Proshare Research Read More 

 

Click Here to Read More News on Regulators 

 

 Proshare Nigeria Pvt. Ltd. 

 

PROSHARE MARKETS

What To Expect From The Markets This Week - 030521 - The World Bank in a statement titled 'Seven countries account for two-thirds of global gas flaring' noted that Nigeria and six other countries were responsible for two-thirds of global gas flaring. Source Proshare Market Read More 

FBN Holdings Plc Declares N15.6bn PAT in Q1 2021 Unaudited Results;(SP:N6.90k) - FBN Holdings Plc released its Q1 2021 Unaudited results for the period ended March 31st, 2021. Source NGX Read More 

FBN Holdings Writes NGX on Recent Developments in First Bank and FBN HoldCo - In accordance with the Nigerian Exchange Limited (NGX) Rule Book, we hereby notify the NGX and the investing public of recent developments in FBN Holdings Plc and First Bank of Nigeria Limited. Source Proshare Research Read More 

Snapshot on African Economy as @ 300421 - he Nigerian Electricity Regulatory Commission (NERC) confirmed that another tariff review for Nigeria's 11 power distribution companies would hold in July. Source  United Capital Research  Read More 

Forex Availability and Exchange Rate Depreciation - A Manufacturer's Nightmare - Nigeria's exchange rate policy has been a subject of controversy. The price of forex is the major problem followed by the availability of adequate forex supply, which leads to a blended rate for forex transactions. Source FDC Read More 

Investors Gain N278.74bn WoW as NSEASI Inches Up by 1.36% to Close the Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.95% to close at 39,834.42 basis points as against +1.75% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -1.08%. Source Proshare Research Read More 

Corporate Earnings Results for The Week Ended 300421 - Six (6) out of the Nine (9) firms declared revenue growth.  LIVINGTRUST  records 120% growth in earnings to emerge as the firm with the highest growth in earnings while FBNH and WEMABANK recorded 14% negative growth in earnings to emerge as the firm with the least growth rate. Source Proshare Research Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending -300421 - The equities market recorded positive performance - the listed equities market, NSEASI, recorded a +1.36% gain WoW while the NASD OTC closed positive with a +0.60% gain. Source Proshare Research Read More 

ZENITHBANK Declares N53bn PAT in Q1 2021 Results, (SP:N22.25k) - Zenith Bank Plc released its Q1 2021 Unaudited results for the period ended March 31st, 2021. Source NGX Read More 

Dangote Cement Plc Declares N89.7bn PAT in Q1 2021 Results,(SP:N217.00k) - Dangote Cement Plc released its Q1 2021 Unaudited results for the period ended March 31st, 2021. Source NGX Read More 

Pandemic Offers Africa a Chance to Boost Sovereign Sukuk Sales - The financing required to rebuild economies in African nations following the coronavirus pandemic gives the continent an opportunity to boost its share of Islamic financing. Source Bloomberg Read More 

 

Click Here to Read More News on Markets

 

Proshare Nigeria Pvt. Ltd.

 

PROSHARE BUSINESS 

Of First Bank and Bad Debtors; A System's Throbbing Headache - With the recent decision of the Central Bank of Nigeria (CBN) to remove the Boards of FBN Holdings and FirstBank and replace them with newly constituted alternatives, several issues creep behind the facade of finicky corporate ethics. Source Proshare Research Read More

SEC Issues Update on the Suspension of the AGM of OANDO Plc - The attention of the Securities and Exchange Commission ("The Commission") has been drawn to publications in various media on the judgments against the Commission concerning its regulatory action on Oando Plc and several of its officers for severe breaches of capital market regulations. Source SEC Nigeria Read More 

SON Boost Manufacturing, Export With Accredited Laboratories Nationwide - The Standards Organisation of Nigeria (SON) has announced plans to lift the nation's manufacturing industry with its newly accredited laboratories, noting that the standards body is also targeting an increased level of export of locally made goods to the international market. Source The Nation Read More 

Climate Finance Targets Top Agenda For This Week's G7 Meetings - Targets for climate finance and girls' education will top the agenda at a meeting this week of foreign ministers from the Group of Seven advanced economies, this year's chair Britain said on Sunday. Source Reuters Read More 

 

Click Here To Read More News on Business

 

Proshare Nigeria Pvt. Ltd.

 

PROSHARE TECHNOLOGY   

NITDA Launches Roadmap For Sustainable Digital Economy - It said in line with the National Digital Economic Policy and Strategy, the plan was designed to guide NITDA's initiatives, especially towards achieving the agency's new vision of "proactively facilitate the development of Nigeria into a sustainable digital economy." Source Punch Read More 

 

Click Here to Read More News on Technology

 

Proshare Nigeria Pvt. Ltd.


WATCH LATEST VIDEO ON PROSHARE WEBTV

Proshare Nigeria Pvt. Ltd. Proshare Nigeria Pvt. Ltd.

Related News

1.      What To Expect From The Markets This Week - 030521

READ MORE:
Related News
SCROLL TO TOP