Nigeria in 1min: Economic, Business and Financial Headlines - 140921

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Tuesday, September 14, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: CIBN

 

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COVID-19 Health Updates

  • 13th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 199,538 cases (New: 387)
  • Discharged: 188,427
  • Deaths: 2,619 (New: 21)

Source: NCDC Read More

 

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PROSHARE ECONOMY

Agusto and Co: The State of the Nigerian Electric Power Industry - As the Electric Power Industry (the Industry) announced yet another review of electric tariffs in January 2021, after much deliberation and delays, a critical question that comes to mind is 'will a rise in tariffs result in a better power supply?'. Source Agusto & Co Read More

Housing: NIESV Backs Fashola on Need for Data Bank - The Nigerian Institution of Estate Surveyors and Valuers has corroborated the assertion of the Minister of Works and Housing, Mr Babatunde Fashola, that Nigeria does not have a 17 million housing deficit. Source Punch Read More

NEPC Task Exporters to Leverage e-Commerce to Boost Non-oil Exports - The Nigerian Export Promotion Council (NEPC) has charged exporters to take advantage of e-commerce to boost Nigeria's non-oil export sector. Source THISDAYLIVE Read More

VAT Collection: LCCI Seeks Adjustment in Allocation to States, LGAs - The Lagos Chamber of Commerce and Industry (LCCI) has called for a review of the current sharing arrangements of value-added tax (VAT) collection to states and local government councils. This was announced in a statement by Chinyere Almona, LCCI director-general, on Sunday. Source TheCable Read More


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PROSHARE MARKETS

Investors Lose N3.21bn as NSEASI Dips by -0.02% to Open the Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.02% to close at 38,915.62 basis points as against -0.71% loss recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.36%. Source Proshare Markets Read More

Naira Depreciated by 1.10% WoW in the Parallel Market at an Average Exchange Rate of N532.00 - In the FX Spot and Derivatives markets, the total turnover for the week-ended September 10, 2021, was $876.91 million, representing a decrease of 17.07% ($180.44 million) from $1,057.35 million reported for the week-ended September 3, 2021. Source FMDQ Read More

PMA Holds on Wednesday; Yield Contracts 14bps WoW to Settle at 4.48% as Bullish Run Continues - The bullish run in the Nigerian Treasury Bills ("NT-Bills") secondary market persisted last week, on the back of sustained positive liquidity levels (averaging N60.7bn for the week) as N119.1bn and N138.2bn worth of Open Market Operation ("OMO") bills and NT-Bills maturities respectively hit the system during the course of the trading week. Source Afrinvest Research Read More

Remittance to Africa Projected to Decrease in 2021 - Remittances to African countries are expected to decrease by 5.4 percent from $44 billion in 2020 to a projected total of $41 billion in 2021, due to the effects of Covid-19 pandemic, according to findings of Continental Migration Report 2021. Source United Nations Economic Commission for Africa Read More

Mixed Performances in the Agricultural Commodities Space - AFEX Commodities Weekly Report 100921 - It was a muted performance for commodities listed on the Exchange, with the exceptions of Maize and Soybean.  While maize gained on the Exchange, we saw a reverse performance in the open market. Source Kainosedge Consulting for AFEX Commodities Exchange Read More

 

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PROSHARE BUSINESS

Africa Must Transit to A Manufacturing Hub to Make AfCFTA Effective - The Africa Continental Free Trade Agreement (AfCFTA) will only succeed if the continent transits to a manufacturing hub. Mr. Charles Robertson, the Chief Global Economist, Renaissance Capital, highlighted this while examining "Prospects for  Growth and Stability in Sub-Saharan Africa Beyond 2021". Source Ottoabasi basiekong for WebTV Read More

Are Employees still the Most Vital Assets in the Workspace? - Coronation Merchant Bank experts analyze how increased adoption of technology by organisations have impacted the role of employees in the present and future work patterns. Source Coronation Merchant Bank Read More

Non-Performing Loans Declining but Remain Above Benchmark - CBN - The non-performing loans in the banking sector slightly declined from 5.8 per cent in May to 5.7 per cent in June, showing more resilience in the banking sector. The Central Bank of Nigeria disclosed this in the personal statements of members of the Monetary Policy Committee. Source Punch Read More

Dangote Refinery Partners NCDMB on Oil Sector Research, Development - Dangote Refinery has announced a partnership with the Nigerian Content Development and Monitoring Board on the promotion of research and development in Nigeria's oil and gas industry. Source Punch Read More

Mshelbila Takes Over at NLNG, Vows to Complete Train 7 - The new Managing Director and Chief Executive Officer of the Nigeria Liquefied Natural Gas (NLNG) Limited, Dr. Philip Mshelbila, has commenced his single five-year tenure at the company with the promise to complete the train 7 project under construction. Source THISDAYLIVE Read More


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PROSHARE TECHNOLOGY   

Ecobank Super Reward Scheme Is to Deepen Savings, Celebrate and Assist Customers' Businesses - Managing Director/Regional Executive, Ecobank Nigeria Ltd, Patrick Akinwuntan has said the bank initiated Super Reward Scheme to deepen savings amongst Nigerians, reward and assist customers' businesses. Source Ecobank Nigeria Read More

Insights from Happenings in the Fintech Landscape - 130921 - On the global scene, cryptocurrency is increasingly becoming the next gold mine and more and more global players seem to be trooping in every other week either with new product launch, trading/investment options for customers as well as funding in crypto businesses. Source FintechNGR Read More


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