Nigeria in 1min: Economic, Business and Financial Headlines - 050121


Tuesday, January 5, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Proshare

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COVID-19 Health Updates

  • 4th of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 91,351 cases (New: 1204)
  • Discharged:  75,699
  • Deaths: : 1318 (New: 7)

Source: NCDC Read More

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President Buhari Signs Nigeria's 2021 Appropriation Bill and Finance Bill Into Law - President Muhammadu Buhari signed the 2021 Appropriation Bill (i.e. the Budget) of the Federal Government of Nigeria (FGN) into law today, Thursday, 31 December 2020. The revised budgeted expenditure is N13.59 trillion, 4% (N505billion) higher than the N13.08 trillion budgeted expenditure which the President presented to the National Assembly (NASS) in October 2020. Source Deloitte Read More

Nigeria's Public Debt Stock as of September 30, 2020 Stood at N32.22trn - The Q3, 2020 Total Public Debt Stock released by the Debt Management Office (DMO), revealed that the Total Public Debt Stock stood at N32.223 Trillion or USD84.574 Billion. Source DMO Read More

Lagos, Rivers, Akwa Ibom Lead in N4.19tn Subnational Domestic Debts - The domestic debts owed by state governments and the Federal Capital Territory rose to N4.19tn at the end of the third quarter of 2020, with Lagos, Rivers and Akwa Ibom as the three most indebted, according to the latest data from the Debt Management Office. Source Punch Read More

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NSEASI Opens Year 2021 on a Positive Note, Inches Up by 2.18%, Closes Above 41,000bpts - Equities market closed today on a positive note, as NSEASI appreciated by +2.18% to close at 41,147.39 basis points as against +1.92% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +2.18%. Source Read More

Crystal Gazing the Nigerian Stock Market in 2021 - For many a Nigerian, "good riddance to bad rubbish" best describes the year 2020. But not so for scores of investors in the local stock market who must be basking in the euphoria of the 'wealth effect' created by the superlative outturn of returns in the market. Source Op-ed by Professor Uche Uwaleke  Read More

Implications of CBN's Adjustment to the I and E Window Rate - This is the latest small adjustment to rates by the CBN when, in our view, it feels cornered. It follows steps taken in March and July '20. Demand for fx remains high and the supply is inadequate for regular uses, let alone the pipeline of delayed external payments. Source FBNQuest Research Read More 

A $13 Trillion Crisis-Era Debt Bill Comes Due for Big Economies - The world's biggest economies shouldering record debt burdens are about to confront an unwelcome legacy of the financial crisis: a $13 trillion debt bill. The Group of Seven nations plus key emerging markets face the heaviest bond maturities in at least a decade, much of them borrowings to dig their economies out of the worst slump since the Great Depression. According to data compiled by Bloomberg, these governments may need to roll over 51% more debt than in 2020. Source Bloomberg Read More

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These Three Countries Are in The Lead to Be Africa's E-Hub After the Free Trade Agreement - Come Jan. 1, Africa will be home to the largest free trade area in the world. Although the African Continental Free Trade Area (AfCFTA), doesn't go so far as to create a common market or customs union like the European Union, it represents a major step in that direction. Source Quartz Africa Read More

Operators Invest N217.58bn Pension Funds in Real Estate - Pension Fund Administrators have invested N217.58bn in real estate as of the end of the end of September 2020, the National Pension Commission has said. PenCom said this in its third quarter 2020 report. It also disclosed that N54.57bn was invested in infrastructure in the period under review. Source Punch Read More

FG to Commercialise National Parks, Appoint Provost Marshal - The parks penciled down for the exercise are Kainji Lake, Cross River, and Gashaka Gumti National Parks. Already, discussions have begun among the leadership of the parks and relevant agencies to fashion out a blueprint for the kick-off of the programme. Source The Guardian Read More

Wall Street Ends Lower on Worries Over Georgia Elections, Virus Surge - Shares on Wall Street closed sharply lower on Monday, sliding from all-time peaks on the first trading day of the year, as risk appetite ebbed amid upcoming runoff elections in Georgia and the persistent surge in coronavirus cases. Source Reuters Read More

Drugmakers Kick Off 2021 with 500 U.S. Price Hikes - Drugmakers including Abbvie Inc and Bristol Myers Squibb raised U.S. list prices on more than 500 drugs to kick off 2021, according to an analysis by health care research firm 46brooklyn. Source Reuters Read More

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Why the FG Should Work with Clusters on MSME Interventions - Ayo-Bankole Akintujoye - The Federal Government has been advised to leverage clusters and hubs in its intervention programmes for micro, small, and medium-sized enterprises (MSMEs) in the country. Mr. Ayo-Bankole Akintujoye, Convener of the Lagos SME Boot camp made this call as a guest on a discussion reviewing the activities of MSMEs in 2020. Source WebTV Read More 

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