Daily News
VANGUARD
Analysts See Sustained Bullish Market till End Q1, Reversal in Q2
Amidst a marginal drop in the stock market index, investment analysts see a sustained bullish trend till end of first quarter 2021, Q1’21, before a short-term reversal in the second quarter of the year (Q2’21). The reversal would be driven by an anticipated rate reversal in the fixed income market. They, however, said that yield environment in fixed income may not return to double digit despite… Read More
DEMUTUALISATION: NSE Inaugurates Claims Review Panel
In preparation for its imminent demutualisation, the Nigerian Stock Exchange (NSE) has inaugurated a Claims Review Panel that will oversee the review and determination of claims made by individuals or entities in respect of any assertion of rights in the shares of the demutualised Exchange – Nigerian Exchange Group Plc, a Holding Company (HoldCo) for the group’s member companies… Read More
THIS DAY
AMCON’s Debt Bigger than Federal Government’s 2021 Capital Expenditure
The Asset Management Corporation of Nigeria (AMCON) has disclosed that the N4.4 trillion, which is owed the corporation is bigger than the entire 2021 capital expenditure budget of the federal government of Nigeria, which stands at N3.85trillion. The amount owed the corporation is also bigger than the N3.12trillion for total foreign debt service for 2021 and personnel cost of N3.7tr… Read More
PUNCH
Currency in Circulation Reached N2.9tn in 2020 – CBN
Currency in circulation rose by N249bn from N2.66tn as of the end of November to N2.91tn in December 2020. The data was obtained from the Central Bank of Nigeria on Sunday. The CIC rose from a figure of N2.49tn as of the end of October. The CBN said as a result of its monetary policy actions, the reserve money grew moderately as of end-September 2020. In its third-quarter economic… Read More
THIS DAY
McKinsey Foresees Bright Prospect for Nigeria, Others’ Insurance Sector
McKinsey & Company, a global management consultancy services company, has described the insurance sector in Nigeria and some other countries in Africa as one of the world’s hot regions for insurance penetration. The global firm stated this in a report titled: “Africa’s insurance market is set for takeoff.” It noted that steady economic growth in most countries combined with a largely… Read More
PUNCH
Experts Predict Growth in Nigeria Construction Industry
Experts in the construction industry have predicted positive growth for the sector in 2021. They argued that the industry would be a significant growth driver for the Nigerian economy this year at the Real Estate Market Outlook event which held in Lagos. A construction industry expert, Temitope Runsewe, noted that with over N3.85tn budgeted for capital expenditure by the Nigerian… Read More
Oil Nears $56, Federal Government May Reintroduce Fuel Subsidy
Since November 13, 2020 when the pump prices of Premium Motor Spirit (petrol) were last increased in the country, the price of the international oil benchmark, Brent crude, has been on an upward trajectory, rising from $41.51 per barrel to close at $51.22 per barrel on December 31. Fuel marketers had in December expected another upward adjustment of PMS prices to reflect the further… Read More
THE SUN
Federal Government Slashes Funding for Foreign Missions, Embassies Groan Over Rent, Allowances
Ninety seven Nigerian embassies/missions are currently battling with issues of rent, personnel, payment of allowances and the maintenance of the missions. The development, Daily Sun learnt, was as a result of the Federal Government’s slashing of funding for foreign missions. A Daily Sun’s source within the diplomatic cycle said the current state of the missions was disheartening, disclosing that… Read More
PUNCH
Armed Forces Day: Sanwo-Olu Promises Support for Military
Lagos State Governor, Mr Babajide Sanwo-Olu, on Sunday promised to support the military in the efforts to keep the country united. He lauded the commitment of the armed forces to the safety of Nigerians despite security challenges in some parts of the country. Sanwo-Olu spoke at the Interdenominational Divine Service to mark the 2021 Armed Forces Remembrance Day, at the Chapel of Christ… Read More