Nigeria in 1min: Economic, Business and Financial Headlines - 011221


Wednesday, December 01, 2021 / 5:58 AM / By News Aggregator / Header Image Credit: NGX


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 COVID-19 Health Updates

  • 30th of November 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 214,218 cases (New: 105)
  • Discharged: 207,304
  • Deaths: 2,977 (New: 1)

Source: NCDC Read More


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The Omicron Variant and the Nigerian Economy - On 26 November 2021, the World Health Organization (WHO) designated the variant B.1.1.529 a variant of concern, named Omicron, on the advice of its Technical Advisory Group on Virus Evolution (TAG-VE). Source CSL Research Read More

Nigeria's GDP: Fragile Outlook Undermines Steady Economic Recovery - The Nigerian economy has continued to recover steadily from the historic downturn printed in 2020, attributable to increased vaccine rollout bolstering consumer confidence and stimulating economic activities. Source Phillips Consulting Read More

OPECplus Under Pressure as Oil Prices Plunge Again - OIR 301121 - Black Friday's price collapse shook the oil market, destroying the bullish sentiment that had been building throughout the month. While prices partially recovered on Monday, they plunged again on Tuesday morning as uncertainty intensified. Source Tom Kool of Oilprice Read More

GCR Revises UBA Plc's Long-term National and International Scale Ratings on Criteria Change - GCR Ratings ("GCR") has revised United Bank for Africa Plc's long term national and international scale ratings to AA+(NG) and B from AA-(NG) and B+ respectively on criteria change. Source GCR Ratings Read More

NEC Endorses 2022 Finance Bill - A finance bill is a legislative bill proposing changes to taxes, levies, and duties in a fiscal year. The virtual emergency NEC meeting was presided over by Vice-President Yemi Osinbajo on Tuesday. Source TheCable Read More

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Investors Lose N11.94bn as NGXASI Dips by -0.05%, Sentiment Remains Negative - Equities market closed on a negative note, as NGXASI depreciated by -0.05% to close at 43,248.05 basis points as against -0.09% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.39%. Source Proshare Markets Read More

MTN Nigeria Book Build Priced at NGN169, Launch Public Offer to Retail Investors - MTN Nigeria Communications Plc (MTN Nigeria) is pleased to announce that the public offer to retail investors for the sale of up to 575 million shares held in MTN Nigeria by MTN Group will be priced at N169.00 per share (the Offer). Source NGX Read More

Parthian Partners Redeems N20bn From 1st Commercial Paper Issuance - Parthian Partners Limited (PPL) has redeemed its inaugural public issue at maturity of its Series 1 Tranche A & B commercial paper under its N20 billion Issuance Programme. Source Parthian Partners Ltd Read More

NGX Holds Inaugural Capital Markets Conference as Vice-President, Others Laud Digitization Efforts - Nigerian Exchange Limited (NGX) has, at the maiden edition of the capital markets conference, called for increased collaboration among key players in the nation's economy towards driving productive investments that would accelerate an elevated and digitized capital market. Source NGX Read More

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Reps Retain NIPOST's Powers Over Stamp Duty in New Amendment - The House of Representatives, on Tuesday adopted the report by the Committee on Communications on the Nigerian Postal Service Act (Amendment) Bill, which will create Nigerian Postal Commission and make the already existing Nigerian Postal Service an operator under it. Source Punch Read More

NNPC: Global Attack on Fossil Fuel Investment Will Continue to Worsen Energy Crisis - The Nigerian National Petroleum Company (NNPC) Limited yesterday attributed the current global gas crisis to shortage of investments in the oil sector as activists, investors, and climate change advocates continue to mount pressure on banks and oil companies to withdraw funding for fossil fuel related projects. Source THISDAYLIVE Read More

Stakeholders Fault Customs on delay in Installation of Scanners - Two months after the Nigeria Customs Service (NSC) took delivery of the Nuctech mobile scanners, the facilities are yet to be installed. Terminal operators and other stakeholders have blamed the Service for the delayed deployment of the scanners at the nation's seaports for use. Source Guardian Nigeria Read More 

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Three (3) Reasons Insurers Performed in 2020 Despite COVID-19 Pandemic - The fears were real and the expectations were high that the insurance sector in Nigeria, like other sectors, would go through unprecedented challenges as COVID-19 pandemic ravaged us on all sides. OpEd By Ekerete Ola Gam-Ikon Read More

NBCC Launches Its Knowledge, Skills and Resource Centre - The fully equipped centre which is sponsored by and named after Chief Olusegun Osunkeye, CON, OFR, FCA provides the opportunity for members and non-members of the NBCC to work, study or brainstorm ideas in a conducive environment. Source NBCC Read More 

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