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 COVID-19 Health Updates

  • 5th of September 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 206623 cases (New: 344)
  • Discharged: 194,475
  • Deaths: 2,731 (New: 8)


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Fidelity Bank
Paves the way for Corporate Contribution to Nigeria’s Non-Oil Sector
Development –
Data from the
Policy Development Facility (PDF) Bridge Programme indicates that Nigeria’s
dependency on oil exports for government revenue (80%) and foreign exchange
earnings (87%) has long been at odds with the sector’s contribution of just
8.33% to the country’s Gross Domestic Product (GDP). Source Fidelity Bank
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Crude Oil Price
Continues to Rise –
In the past
week, the crude oil market has continued to gain momentum, as both Brent and
West Texas Intermediate recorded an average of 5.1% rise in benchmark prices to
US$82.52 and US$78.84 per barrel, respectively. Source CSL Research
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Scares in an Uncharted Recovery –

The economic recovery has fueled a rapid acceleration in inflation this year
for advanced and emerging market economies, driven by firming demand, supply
shortages, and rapidly rising commodity prices. Source Francesca Caselli and
Prachi Mishra, IMFBlog
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Dangote Cement, MTN Pay
Highest Income Tax to FG in 2020 –
Dangote Cement Plc has emerged as the
highest corporate income taxpayer and biggest employer of labour in the country
for the year 2020. The foremost indigenous cement manufacturer came first among
top 100 elite companies listed on the Nigeria Exchange (NGX) posting into the
coffer of the federal government a princely sum of N97.24billion in the year.
Source Dangote Group Read

FG Ready to Challenge States at Supreme Court Over VAT –

Abubakar Malami, attorney-general of the federation (AGF), says the federal
government is ready to challenge states at the supreme court over the
collection of value-added tax (VAT). Source TheCable Read

FEC Approves
Proposed N16.39trn 2022 Budget –
The Federal Executive
Council (FEC) has approved the 2022 appropriation bill for an aggregate
expenditure of N16.39 trillion. The FEC gave the approval at its weekly meeting
presided over by President Muhammadu Buhari on Wednesday. Source TheCable Read

N’ Assembly Passes Revised 2022-2024 Fiscal Framework –
The two chambers of the National Assembly Wednesday approved President
Muhammadu Buhari’s revised proposal of the 2022-2024 Medium Term Expenditure
Framework (MTEF-FSP), which also okayed N16.39 trillion federal budget proposal
for 2022. Source THISDAYLIVE Read

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Investors Gain N25.29bn as NSEASI Inches Up by 0.12% Amid
Negative Market Breadth
– Equities market closed today on a positive note, as NSEASI appreciated
by +0.12% to close at 40,765.20 basis points as against +1.18% appreciation
recorded previously. Its Year-to-Date (YTD) returns currently stands at +1.23%.
Source Proshare Markets
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Highlight ESG, Diversity and Digital Transformation in Corporate Governance –
At the 2021
Annual Society for Corporate Governance Nigeria conference, stakeholders
believed the nation had a lot to gain from fully adopting the new International
Corporate Governance Network (ICGN) principles and the emerging trends in the
environment, society, and governance (ESG), diversity and digital
transformation. Source Ottoabasi Abasiekong for WebTV
Read More

Senate Confirms Board Members of Upstream Regulatory Agency –

The Senate, on Wednesday, confirmed the appointment of board members of the
Nigerian Upstream Regulatory Commission, a new agency created to regulate the
upstream sector of the petroleum industry. Sourc LeadershipNG Read

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What is a
Bitcoin Hashrate? –
As noted by the Bitcoin experts at SoFi Invest, this
a Bitcoin Hashrate is, “the amount of computing and process power being
contributed to the network through mining.” Sponsored Post by Julian
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Google to
invest $1b in Africa –
Search Engine giant, Google
Wednesday announced it would inject up to $1billion into the African technology
ecosystem. This is also as it revealed plans to land another submarine
broadband cable which will run across Nigeria to other five African countries
and connect them to Europe. Source Vanguard Read

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Making Money as
a Short-Term Investor –
If you are
looking to invest some money that you intend to use in the not-so-distant
future, then you face the challenge of the delicate balance between making a
decent return on your investment and ensuring that you can get all of it back
when you need it. Source FBNQuest
Read More

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