Economy

News and analysis on the Nigerian economy

Socio Economic

Oxford’s COVID-19 vaccine may be mass produced in 2020

by Chike Olisah

July 21, 2020

The vaccine produced an immune response in early-stage clinical trials with no major side effect.

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

Politics

Loan: CBN disburses over N300 billion to SMEs, health, agric, manufacturing sectors

by Abiola Odutola

July 21, 2020

The apex bank disbursed over N152.9 billion to the manufacturing sector to finance 61 manufacturing projects.

AstraZeneca suspends COVID-19 vaccine final stage trial over safety concerns, COVID-19: J&J starts vaccine trials on humans after success on monkeys

Socio Economic

Covid-19: Oxford-AstraZeneca vaccine shows strong immune response

by William Ukpe

July 20, 2020

The trials showed protective neutralization of antibodies and immune t-cells aimed at the virus.

MPR, CBN, GTBank, CBN disagrees with IMF, says land border closure boosting local production, Border closure: Emefiele says Benin, others must engage Nigeria before borders are reopened , bvn 2.0, CBN reveals banks’ foreign assets rise to N14.19 trillion in 2019

Macros

CBN retains MPR at 12.5%

by Abiola Odutola

July 20, 2020

MPR, Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged.

Covid-19: AstraZeneca vaccine gets huge boost, produces immune response in elderly, Vaccine, COVID-19: Russia to roll out vaccine in September ahead of the West

Socio Economic

UK secures deals to supply 90 million doses of COVID-19 vaccine from Pfizer, others

by Chike Olisah

July 20, 2020

UK now has 3 different types of vaccine under development with a total of 230 million doses.

Nigeria's Inflation, Prices of beans, onions, vegetable oil, others spike across major markets, as traders lament heightened insecurity

Macros

Inflation: Headline index continues to rise

by CSL Stockbrokers

July 20, 2020

The Food index was up 14bps to 15.18%, the highest level since March 2018.

WHO vaccinations, Novavax secures $1.6 billion funding for covid-19 vaccine production

Socio Economic

Covid-19: WHO to start widespread vaccination mid next year

by Chike Olisah

July 20, 2020

WHO had disclosed that about 150 vaccines for COVID-19 were under development globally.

FG records revenue of N676.41 billion in July, AGF launches Committee on Financial Transparency Guidelines and Open Treasury Portal, Office of Nigeria's Account General is reportedly engulfed in flames, Auditor-General, Accountant-General, grants, FAAC disburses N327.68 billion to States and LGAs in September, as allocation drops again,

Business News

Govt. rakes in N653 billion in June as exchange rate gain, taxes and oil sales boost revenues

by Abiola Odutola

July 19, 2020

Government generated N42.83 billion from exchange rate gains, and others from crude sales and VAT.

COVID-19 vaccine likely to be ready by December - WHO, Virtual hackathon: WHO offers $20,000 to curb Coronavirus with African-tech solution, covid-19, coronavirus

Socio Economic

COVID-19: WHO presents disturbing report as global cases surge

by Chike Olisah

July 19, 2020

The previous WHO daily record for new cases was 237,743 on Friday.

Xenophobia, FG reacts to inclusion of Nigeria on religious freedom blacklist by United States

Socio Economic

Minister of Foreign Affairs, Onyeama tests positive for COVID-19

by Ruth Okwumbu-Imafidon

July 19, 2020

Onyeama took his fourth COVID-19 test on Saturday, after feeling some signs of throat irritation.

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VAT allocations to states rise 74% to N423 billion in January 2026

Nigeria PMI hits 53.2, broad-based expansion sustains for 16 months

Ghana inflation falls to 3.2% in March 2026, lowest since 2021

Naira weakens to N1,387/$ as reserves fall to $49.29 billion in March

Economy

News and analysis on the Nigerian economy

Oxford’s COVID-19 vaccine may be mass produced in 2020

Loan: CBN disburses over N300 billion to SMEs, health, agric, manufacturing sectors

Covid-19: Oxford-AstraZeneca vaccine shows strong immune response

CBN retains MPR at 12.5%

UK secures deals to supply 90 million doses of COVID-19 vaccine from Pfizer, others

Inflation: Headline index continues to rise

Covid-19: WHO to start widespread vaccination mid next year

Govt. rakes in N653 billion in June as exchange rate gain, taxes and oil sales boost revenues

COVID-19: WHO presents disturbing report as global cases surge

Minister of Foreign Affairs, Onyeama tests positive for COVID-19

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