Neimeth Tops Gainers Chart 3-Week Straight, Japaul Led Laggards. The bulls prevailed in the equities market this week, edging the All Share Index forward by 0.67% to close at 25,182.67 points. The year to date loss, therefore, moderated to 6.18%.

Outlook on Sub-Saharan Sovereigns is Negative – Fitch Ratings. Fitch Ratings has maintained that the outlook on Sub-Saharan Sovereign remains negative despite the gradual easing of economic lockdown in the region.

Debt Service Takes 27% as Senate Passes Adjusted 2020 Budget. Debt service accounts for more than 27% as the Nigeria passed the adjusted spending plan for fiscal year 2020 totaled ₦10.8 trillion into law.

Lagos Records another 9 deaths out 17 in 24 hours. The Nigeria Centre for Disease Control (NCDC) on Thursday announced another nine COVID-19 related deaths for Lagos State, increasing the state’s COVID-19 mortality to 81.

Supply Cut: OPEC Records 82% Compliance, EIA sees Uptick in Brent Price. Nova Merchant Bank Limited has noted that the Organisation for Petroleum Exporting Countries (OPEC+) oil supply cut could be deeper for longer, the view taken as a result of recent developments.

NNPC Sets Crude Oil Production Cost of $10 Per Barrel. The Nigerian National Petroleum Corporation (NNPC) says it has set crude oil production of $10 per barrel for 2021. The Group Managing Director, Malam Melem Kyari, made the disclosure when he featured as a guest on a live Television programme on Thursday.

Weak Revenue Profile: Analysts Predict Bailouts for States. There is an indication that some states would need Federal Government bailouts to survive, finance 2020 budget due to reduced revenue generation. Economic activities have slowed down significantly, thus limit ability for state governments to raise earnings. 

CBN Quarantines ₦2.3 Trillion from Banks’ Deposits in 9 Months. The Banking Sector ability to create credits is threaten follows a humongous amounts that the apex bank sterlised from operators deposits periodically.

Africa’s Coronavirus Cases Now Over 200,000, says WHO. The World Health Organisation (WHO) says confirmed Novel Coronavirus (COVID-19) cases in Africa now more than 200,000.

Unity Bank Returns to Profitability in 2019, Stays Positive in Q1. After protracted delay in releasing its audited scorecard, Unity Bank Plc on Wednesday declared gross earnings of N44.59 billion for the financial year ended Dec. 31, 2019.