Nigeria in 1min: Economic, Business and Financial Headlines - 220621

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Tuesday, June 22, 2021 / 5:52 AM / By News Aggregator / Header Image Credit: @Seyimakinde

 

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COVID-19 Health Updates

  • 21st of June 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 167,292 cases (New: 86)
  • Discharged: 163,797
  • Deaths: : 2,118 (New: 1)

Source: NCDC Read More

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PROSHARE ECONOMY

A Woman's Right Is Also Human Rights - Despite vigorous campaign and efforts aimed at achieving equal representation of women in governance, they are still treated as unequal to men. age-old traditional beliefs, women's weaknesses, and men's ego have been identified as some of the reasons for this discrimination. Source Ayomide Oguntoye for WebTV Read More

Highlights from World Bank's Development Update on Nigeria - According to the World Bank's recently published development update on Nigeria titled "Resilience through Reforms", a number of factors led to Nigeria reporting a smaller GDP contraction of -1.8% in 2020 (vs -3.2% forecast when the pandemic began) exiting the recession in Q420. Source FBNQuest Research Read More

The Nigerian Economy Post-COVID-19: Where Are the Opportunities and Challenges? - Being text of presentation made by Bode Agusto to the alumni of Cranfield University in Nigeria On 19 June 2021. Source Bode Agusto Read More 

Nigeria May Earn N462bn from EMT Levy in 2021 - World Bank - The World Bank has said Nigeria is likely to make N462bn the electronic money transfer levy as a source of stable revenue in 2021. The multilateral institution said this in its 'Resilience through Reforms' report. Source Punch Read More

Ogun Records N13.3bn IGR Monthly in Q1 - Ogun State Government has recorded an average of N13.3billion monthly as Internally Generated Revenue (IGR) in the first quarter of 2021. The government said it is also planning to raise its yearly Gross Domestic Product (GDP) rate from the current single digit by 25 percent. Source The Nation Read More


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PROSHARE MARKETS

Investors Lose N54.00bn as NSEASI Dips by -0.27% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.27% to close at 38,545.30 basis points as against +0.09% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -4.28%. Source Proshare MARKETS Read More

NT-Bills Update: Average Yield on NT-Bills Secondary Market Sheds a Marginal 1bp to 6.35% - Last week, the Nigerian Treasury Bills ("NT-Bills") secondary market resumed on a quiet note, as market players focused on the Primary Market Auction ("PMA") that held on Wednesday, 16th June, 2021. Source Afrinvest Research Read More

Afrinvest Stock Recommendation for the Week 210621 - Last week, the bullish run on the domestic bourse was halted as sell-offs in market bellwethers dragged performance. Consequently, the benchmark index slid 1.3% w/w to settle at 38,648.91 points, YTD loss worsened to -4.0% while market capitalisation declined N266.0bn to 2N20.1tn. Source Afrinvest Research Read More


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PROSHARE BUSINESS

No Plan to Increase Our Cement Price - BUA - One of Nigeria's 3 cement giants, BUA Cement Plc has said there are no plans to increase the price of its cement for "foreseeable future" despite the recent 10% price hike by their main competitor. Source BUA Read More

PPP, Commitments will Enable Nigeria to Achieve SDGs by 2030 - Public-Private Partnerships (PPP) and Commitments from various stakeholders are ways Nigeria can achieve its Sustainable Development Goals (SDGs) target by year 2030. Source Ottoabasi Abasiekong for WebTV Read More

3 Fundamental Reasons How Pandemic Affected the Organizational Landscape - With the pandemic still intact in many parts of the world, large enterprises and multinational organizations are constantly suffering. It is because they are exposed to numerous cyberattacks and data breaches. A mere email can steal thousands of useful and secret files. Source Sponsored Post by Charlotte William Read More

Ramaphosa Demands More IMF Reserves for African Virus Recovery - South African President Cyril Ramaphosa urged developed economies to aid Africa's post-pandemic recovery by allocating more International Monetary Fund reserves to the continent. Source Bloomberg Read More

FRSC Partners NAICOM, NHIS on Compulsory Motor, Health Insurance - The National Insurance Commission has sought the support of the National Health Insurance Scheme and the Federal Road Safety Corps on implementation of some of the compulsory insurance policies in the country. Source Punch Read More

Angst at Exxon as Managers Begin Employee Performance Reviews - Top U.S. oil producer Exxon Mobil Corp (XOM.N) has kicked off a yearly performance review for U.S. staff, a process some workers dread because they view it this year as a prelude to stealth layoffs. Source Reuters Read More


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PROSHARE TECHNOLOGY   

U.S. Commerce Department rescinds TikTok, WeChat prohibited transactions list - The U.S Commerce Department said Monday it was rescinding a list of prohibited transactions with TikTok and WeChat that were issued in September as the Trump administration sought to block new U.S. downloads of both Chinese-owned apps. Source Reuters Read More 

 

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PROSHARE FINANCE

The Battle for Numbers: Going with 1.03m Individual Policyholders - Nigeria's insurance industry led by the regulator, National Insurance Commission (NAICOM) may have finally decided to pull its gloves off and fight for the share of the country's huge population by recently announcing that, as at December 31, 2020. Source OpEd By Ekerete Ola Gam-Ikon Read More

Insurers Gross N520b Written Premium - The insurance industry recorded a gross written premium of N520 billion as at last December. A breakdown at the weekend showed that insurance policies held by individuals stood at 1,034,383, corporate and non-individual policies 891, 128; total policies written 1,925,511; while penetration stood at at 0.72 per cent. Source The Nation Read More


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