Nigeria in 1min: Economic, Business and Financial Headlines - 260121


Tuesday, January 26, 2021 / 6:00 AM / By News Aggregator / Header Image Credit: Twitter; @Opetuyii

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COVID-19 Health Updates 

  • 25th of January 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 122,996 cases (New: 1430)
  • Discharged:  98,359
  • Deaths: : 1430 (New: 3)

Source: NCDC Read More

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Finance Act 2020 And Its Impact on Employment Tax - President Muhammadu Buhari, on 31 December 2020, signed into law, the 2021 Appropriation Act and the 2020 Finance Act. The Finance Act, 2020 (the Act) amends portions of various extant tax provisions, including that of the Personal Income Tax Act (PITA), Cap P8, LFN, 2007 (as amended by the Personal Income Tax (Amendment) Act, 2011). Source Deloitte Read More

PIB Will Ensure Nigerians Benefit Optimally from Oil and Gas Resources - Ahmed Lawan - President of the Senate, Ahmad Lawan, has said that the Petroleum Industry Bill (PIB) presently before the National Assembly will ensure that Nigerians benefit optimally from crude oil production and the sale of fossil fuel reserves. Lawan stated this on Monday while declaring open a 2-day public hearing on the bill by the National Assembly. Source Senate Read More

Communique - Meeting of the SW Governors, MACBAN and Security Agencies - communique issued at the end of the meeting of the governors' forum with the leadership of Miyetti-Allah cattle breeders association of Nigeria (MACBAN) and the heads of security agencies on emerging security challenges in the south-west geo-political zone, held at the international culture and event centre (dome), akure, Ondo State on monday, 25th january, 2021. Source communique Read More

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AFEX 2020 Review and 2021 Outlook Nigerian Commodities Space Not Immune to the Impact of COVID-19 - The outbreak of the novel coronavirus, COVID-19, in 2020 brought about some unprecedented shocks to the global economy. The effect of the pandemic was unique given its adverse impact on supply chains and global demand of commodities. Source AFEX Read More

Ecobank Nigeria Secures N50bn 10-Year Subordinated Loan - Ecobank Transnational Incorporated ("ETI"), the parent of the Ecobank Group, announces that one of its significant subsidiaries, Ecobank Nigeria, secured N50 billion, 10-Year bilateral subordinated loan. Source NSE Read More 

Domestic and Foreign Portfolio Participation in Equity Trading - December 2020 - On a monthly basis, The Nigerian Stock Exchange polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI)4 flows. As at 31 December 2020, total transactions at the nation's bourse decreased by 15.28% from N317.81billion (about $813.87million) in November 20205 to N269.24billion (about $687.06million) in December 20206. Source NSE Read More 


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Refineries Shut for 15 Straight Months, Lose N152.08bn - The nation's refineries lost a total of N152.08bn in 15 consecutive months of being idle, the latest data from the Nigerian National Petroleum Corporation have shown. Analysis of data collated from NNPC monthly reports revealed that all the refineries did not refine crude oil from July 2019 to September 2020. Source Punch Read More

Oil'll Retain Largest Share in Energy Mix - OPEC - The demand for crude oil is projected to increase by about nine million barrels per day in future, as oil will continue to retain its largest share in the global energy mix, the Organisation of Petroleum Exporting Countries has said. Source Punch Read More

Senate Queries NBET's N50bn Escrow Account - The Senate Public Account Committee has asked the Nigeria Bulk Electricity Trading Plc to explain how it managed the N50bn in its Escrow Account. The chairman of the committee, Senator Matthew Urhoghide, issued the directive based on the 2015 audit report submitted to it by the Office of the Auditor General for the Federation. Source Punch Read More

Oil Export Revenue Declines 41% - REVENUE from oil export fell by a whopping 41.44 percent to $2.033 billion in the first nine months of 2020, compared to $3.47 billion received in the corresponding period of 2019, data from the Nigerian National Petroleum Corporation, NNPC, has revealed. Source Vanguard Read More

Fed Set to Look Beyond Possible Post-Pandemic Inflation shock - Between the closed theaters and restaurants, the prices slashed by airlines and half-empty hotels, and the government benefits paid or in the pipeline, Americans may have as much as $2 trillion in extra cash socked away by this spring. Source Reuters Read More


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Subscribers Kick as FG Extends NIN-SIM Integration - Telecoms subscribers under the aegis of the National Association of Telecoms Subscribers (NATCOMS) have called on President Muhammadu Buhari and the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta. Source THISDAYLIVE Read More 


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2021: Establishment of Enterprise Hubs Will Unlock Growth for MSMEs in Nigeria - Seye Olurotimi - Intentional Policies driven by the Federal and State Governments towards establishing Enterprise Hubs across the nation will unlock the growth of Micro, Small, and Medium Enterprises, MSMEs in Nigeria. Mr. Oluseye Olurotimi Founder/President of MSME Africa advocated for this in a conversation on "How Nigerian MSMEs Can Scale Growth In 2021". Source WebTV Read More

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