Nigeria in 1min: Economic, Business and Financial Headlines - 240921

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Friday, September 24, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Facebook; Nasir El-Rufai

 

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  COVID-19 Health Updates

  • 23rd of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 203,514 cases (New: 433)
  • Discharged: 191,942
  • Deaths: 2,668 (New: 2)

Source: NCDC Read More

 

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PROSHARE ECONOMY

The New VAT Combat is a Protest - Teniola - The actions of Chief Nyesom Wike (57) governor of Rivers state and Mr. Babajide Sanwo-Olu (56) governor of Lagos, have made us to take another look on the issue of taxation in Nigeria. OpEd by Eric Teniola Read More

Senate Approves Medium-Term Expenditure Framework - Based on media reports, yesterday, the Senate approved the 2022 - 2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF - FSP). The decision followed the adoption of the recommendations of a joint committee of the National Assembly led by Senator Olamilekan Salami. Source CSL Research Read More 

Insecurity: TCN Loses N1.7bn in 9 Months Over Power Asset Vandalism in North-East - The Transmission Company of Nigeria (TCN) says it has lost N1.7 billion in nine months owing to vandalism of electricity infrastructure in Maiduguri and environs. Speaking on Thursday at a town hall meeting in Maiduguri, Borno state capital, Abubakar Aliyu, minister of power, said the TCN made the revenue loss from January to September. Source TheCable Read More

FG Mulls Taking Rivers, Lagos to Supreme Court Over VAT Collection - The federal government says it is considering filing a suit at the supreme court to resolve the ongoing dispute about value-added tax (VAT) collection. Source TheCable Read More

Federal Govt Spends N3.4trn on 2021 Budget Financing in Q1 - The federal government's total expenditure on financing of the national budget stood at N3.38 trillion representing N502.29 billion (17.43 per cent) in the first quarter of 2021. Source LeadershipNG Read More


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PROSHARE MARKETS

Cement Companies H1 2021 Results: Paving New Paths - The cement market rebounded in H1 2021 Post COVID-19, supported by increase demand despite the reduction in real disposable income. The H1 2021 performance of the major players in the product market supports this argument. Source Adaeze Nwachukwu, Proshare Research Read More

Investors Gain N11.17bn as NSEASI Inches Up by 0.06%, Erases Previous Day Loss - Equities market closed today on a positive note, as NSEASI appreciated by +0.06% to close at 38,874.13 basis points as against -0.05% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -3.47%. Source Proshare Markets Read More 

Where to Invest in Africa: Report Reveals Top 10 Economies - Rand Merchant Bank's (RMB) Where to Invest in Africa 2021 report assesses each African economy's investment potential. The most recent report positions Egypt as the continent's top investment destination with Morocco following and South Africa in third place. Source How we made it in Africa Read More


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PROSHARE BUSINESS

Of FBNH Numbers and Tables: Understanding Performance Patterns - A look at FBNH's results in the recent past provides analysts with an insight into the bank's areas of comparative strength and weaknesses. Essentially, by undertaking such a procedure, the best strategies required to consolidate the gains from the past could be identified just as challenges from the past could be addressed appropriately. Source Proshare Reseach Read More

Muhammad K. Ahmad, Okoli, Ighodalo to attend the 17th Presidential Investiture of the IoD Nigeria - The Investiture Ceremony of Dr. Mrs. Ije Jidenma, F.IoD as the 17th President and Chairman of the Governing Council, IoD Nigeria holds on Sunday 3rd October 2021 at 4:00 pm prompt at the Ballroom, Oriental Hotel, Victoria Island, Lagos. Source IoD Nigeria Read More

Sustainability Is Largely About Innovation - Current times have managers racing towards sustainability and innovation. Do managers really understand the interdependent relationships of these two variables? When looking at sustainability over the last twenty years, the rate at which the topic has been examined has significantly increased in research. Source ThistlePraxis Consulting Read More

54gene Closes $25m Fund Raising Deal to Advance Global Drug Discovery Capabilities - 54gene, the health technology company advancing African genomics research for improved global health outcomes, has secured $25 million in a Series B round, led by Cathay AfricInvest Innovation Fund. Source THISDAYLIVE Read More


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PROSHARE TECHNOLOGY   

CBN e-Naira Series 2: Can the e-Naira Deepen Financial Inclusion? - One of the marketed value propositions of the e-Naira is its potential to deepen financial inclusion in Nigeria, as it is targeted at both the banked and unbanked segments of the population. Source  United Capital Research Read More

5G Network Ready January 2022 - Pantami - Mr Isa Pantami, Minister of Communication and Digital Economy, says the Five Generation (5G) network will be deployed in Nigeria in January 2022, and will aid surveillance against vandalism of public assets. Source Punch Read More


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PROSHARE FINANCE

Nigerian Insurance Needs Tailor-Made Takaful Products For Households, MSMEs - NAICOM - Nigeria's quest for achieving improved penetration in the Insurance industry will rely heavily on the impact of tailor-made "Takaful" products designed for households and Micro, Small and Medium Enterprises (MSMEs). Source Bukola Akinyele-Yisau for WebTV Read More

Africa Needs Seven-Fold Rise in COVID-19 Vaccine Shipments - COVID-19 vaccine shipments to Africa must rise by over seven times from around 20 million per month to 150 million each month on average if the continent is to fully vaccinate 70% of its people by September 2022. Source WHO Regional Office for Africa Read More

 

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PROSHARE MSME

Visa Expands She's Next Initiative, Empowers Women Entrepreneurs with Digital Capabilities - As the rate of women entrepreneurs across Sub-Saharan Africa continues to rise, Visa is expanding its global She's Next initiative to empower women entrepreneurs on the continent, bringing practical insights and valuable tools needed to grow and advance their businesses. Source Visa Read More 


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