Covid-19 vaccine: Nigeria, 54 others to benefit from African Union’s 270m doses
Ben Eguzozie
January 21, 2021
AMSP opens vaccines pre-orders for 55 AU member states AVATT secures vaccines doses from Pfizer, J&J, AstraZeneca Afreximbank provides $2bn procurement commitment for African states Nigerian and 54 other African Union (AU) member states would benefit from 270 million Covid-19 vaccines doses which were procured by the AU through the Africa Medical […]
OPEC welcomes push for electric vehicles, but says fossil fuel remains strong
Tobias PiusJanuary 21, 2021
By Tobias Pius The Organisation of Petroleum Exporting Countries (OPEC) appears to be unfazed by the imminent threat electric vehicles (EVs) poses to global oil, despite applauding its increased adoption, calling it a positive approach towards reducing emissions and sustaining eco-friendly environments, but that the world itself would not easily be weaned off fossil fuel […]
Fiscal financing threatens Nigeria’s macroeconomic stability, says Fitch
Charles AbuedeJanuary 20, 2021
By Charles Abuede Says FGN’s repeated recourse to its WMF with CBN shows signs of weaknesses on public finance management Fitch has said Nigeria’s sustained use of direct monetary financing could raise risks to the country’s macroeconomic stability given the current weak institutional protection that preserve the policymaking credibility of the central bank, as […]
Bullish insurance, industrial sectors see N50.3bn rise in Nigeria bourse market cap
Charles AbuedeJanuary 20, 2021
By Charles Abuede Bears lost steam on Wednesday as the Nigerian equities market went bullish after two consecutive days of losses, in a rebound that saw the NSE All-Share Index rise 23 basis points to close at 41,147.72 points due to buying interest in WAPCO (Lafarge) (+8.2%), UBA (+2.3%), and Transnational Corporation (+9.4%). As […]
Agusto & Co. says opportunities abound for Nigeria amidst pandemic risks
Charles AbuedeJanuary 20, 2021
By Charles Abuede Amidst increasing economic risks that could raise Nigeria’s risk profile in 2021, which sector has the bright spot? A new study by Agusto & Co, a research, credit ratings and credit risk management firm, says that amidst the myriad risks from the global health pandemic, which could increase economic risks globally, […]
Access Bank unfolds ambitious expansion into Africa, global markets leveraging HoldCo structure
Charles AbuedeJanuary 20, 2021
By Charles Abuede Targets high-potential, strategic markets Nigerian lender plans entrance into insurance brokerage, consumer lending, payment services Access Bank Plc has revealed that it will leverage on the benefits from the African Continental Free Trade Area (AfCFTA) treaty, its over 42 million customer base on the African continent, the growing users of its […]
Nigeria bourse chief pleads caution on 2021 growth expectations
Charles AbuedeJanuary 20, 2021
By Charles Abuede The Nigerian Stock Exchange (NSE) chief executive officer, Oscar Onyema, has said that market growth expectations for 2021 should be noted with caution as the second wave of the coronavirus pandemic in Nigeria and around the globe may slow down renewed social and economic activities in the world. Onyema made the […]
Selloffs in BuaCem, Access, UBA push Nigeria bourse under waters
Charles AbuedeJanuary 20, 2021
By Charles Abuede Equities Trading Stocks selloffs in BUA Cement, Access Bank, United Bank for Africa saw the Nigerian equities market maintain two-straight days of bearish performance with the NSE All-Share index falling slightly by seven basis points to close at 41,051.63 points in Tuesday trading session. The big tickers, BUA Cement (-1.1%), […]
Shippers Association predicts shortfall in cargo imports as covid-19 bites harder
Onome AmugeJanuary 20, 2021
By Onome Amuge The Shippers Association Lagos State (SALS), has warned of a deadlier second wave of the covid-19 pandemic, likely to pose more damage to the world economy with the Nigerian ports witnessing a shortfall of cargo import in the first and second quarters of the year. Jonathan Nicol, the association’s president, noted […]
Nigeria market expects maize price drop to N120,000 per tonne
Onome AmugeJanuary 20, 2021
By Onome Amuge The Nigerian local commodities market is expecting to see maize price drop to between N120,000 and N140,000 per tonne ($317-$369 per tonne at official central bank rate of N379=$1) in the coming days as the market gets set to receive some 300,000 metric tonnes of the commodity next month from strategic […]