Business
Stock Market Records Improved Performance
Investors who are still nervous of volatility in the stock market may have taken solace in the over-the counter bond market of the Nigerian Stock Exchange (NSE) as the market continues to record improved performance.
According to the NSE weekly report for the week ended October 2, 2009, a total turnover of 361.5 million units worth N402.853 billion was recorded in 2,513 deals in the over-the-counter bond market last week.
This represents an increase by 85 per cent in terms of value, compared with the 198.5 million units worth N217.920 billion exchanged in 1,567 deals during the week ended Thursday, September 24, 2009.
The most active bond, measured by turnover volume was the 4th FGN bond 2014 series 3 with N91.484 billion in 659 deals. It was closely followed by the 6th FGN bond 2009 series 3 with a traded volume of 35.7 million units valued at N38.607 billion in 117 deals.
In all, 28 of the available 37 FGN bonds were traded last week, as against the 24 recorded the preceding week.
Meanwhile, in the equity market, a total turnover of 2.2 billion shares worth N16.14 billion in 27,236 deals was recorded last week, in contrast to a total of 1.42 billion shares valued at N12.93 billion exchanged the previous week in 20,011 transactions.The stock market opened for only four days as last Thursday was declared public holiday in commemoration of the Independence Day.
The NSE All-share Index rose by 0.74 per cent to close on Friday at 22,497.27 points, from the 22,332.15 points it stood the preceding week.
In the same vein, the NSE market capitalisation of the 196 first-tier equities edged higher to close at N5.231 trillion from N5.2 trillion the preceding week.
However, the NSE 30 index dropped by 0.0024 per cent to close at 850.16.
All the other four sectoral indices appreciated; the NSE Food/Beverages Index grew by 0.8 per cent to close at 458.24, the NSE Banking Index advanced by 3.9 per cent close at 375.17 and the NSE Insurance Index rose by 0.01 per cent close at 314.18.
Also, the NSE Oil/Gas Index rose by 2 per cent to close at 286.99.
A total of 52 stocks appreciated in price during the week, higher than the 47 recorded the preceding week. Two petroleum marketing stocks led on the gainers chart. Just like the preceding week, Total Nigeria Plc led on the gainers chart with a gain of N13.98 to close at N150.48 per share while Mobil Oil Nigeria Plc followed with N8.03 to close at N105.00 per share.
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As parts of efforts to promote self-reliance and job creation, the Nigerian Content Development and Monitoring Board, in collaboration with Jake Riley Academy, has trained 250 Lagos youths in different vocational skills.
The month-long intensive training programme aimed at equipping them with full range of skills was also designed to enable them become self-reliant and contribute meaningfully to the industrial development of the country.
The programme was conceived and conducted under the FAST Selling Skills Training Programme, to sharpen the skills of Nigerian youths and equip them with business starter packs that enable them launch out into commercial services.
Speaking at the event, the Director, Capacity Building, Directorate of the Board, Abayomi Bamidele, challenged Nigerian youths to embrace skills acquisition as a viable pathway to self-reliance and national development.
Bamidele, who was represented by the Supervisor, Marine Vessel Categorization and Technical Assistant to the Director, John Barigha, urged the graduands to take full advantage of the opportunity, stressing that their success would largely depend on how effectively they apply the skills acquired.
He cautioned the beneficiaries against trivialising the programme, noting that discipline, dedication and commitment would determine how far they progress in their chosen fields.
He also disclosed that the Board is concluding plans to introduce a new training programme targeted at youths aged 35 years and below, particularly those with engineering backgrounds, to enhance participation and create more opportunities within the oil and gas sector.
He urged beneficiaries to utilise their starter packs effectively, cautioning against selling the equipment provided.
“We are not giving you fish; we are teaching you how to fish.“What we have given you today is the net. It is now left for you to make meaningful use of it,” Bamidele said.
He stressed that the Board invested heavily to ensure the programme delivered lasting impact.
Also speaking, the Chief Executive Officer, Jake Riley Ltd, Mrs Funmi Ogbue, described the graduation as a defining moment for 250 young Nigerians.
Ogbue said the programme reflected NCDMB’s expanding role in local content development, with youth empowerment central to economic transformation.
She described the programme as a strategic investment in Nigeria’s future, noting that NCDMB continues to demonstrate that human capital development is central to national growth.
“Today celebrates not just achievement, but a national vision positioning young people as drivers of Nigeria’s economic future,” Ogbue said.
Ogbue described the initiative as a strategic human capital investment aligned with President Bola Tinubu’s inclusive growth agenda adding that the training prioritised market-ready skills capable of generating immediate income across growth sectors.
“What these graduands have received is not charity, but capability,” she said.
Ogbue noted that beneficiaries underwent transparent selection and intensive foundation training before advancing into seven specialised skill tracks of solar installation, fashion design, catering, digital freelancing, textile and Adire making, electrical installation and GSM phone repair.
“These skills were chosen to meet market demand and expand employment opportunities nationwide,” Ogbue added.
She commended NCDMB leadership, especially Director of Capacity Building, Bamidele Abayomi, for championing demand-driven training.
Ogbue also praised trainers, facilitators and Jake Riley Academy for blending technical excellence with entrepreneurship.
A beneficiary, Anuba Chidera, a solar installation trainee, described the training as life-changing with strong real-world focus.
The Nigeria Union of Journalists NUJ,Rivers State Council has reiterated its commitment to interpreting new Policies to empower citizens, not just report them.
The Chairman of Council Comrade Paul Bazia -Nsaneh made the commitment while responding to the Executive Chairman of the Rivers State Internal Revenue Service, Sir Israel Egbunefu when his team paid a courtesy visit to the Council.
Comrade Paul Bazia -Nsaneh emphasized the media’s role in interpreting policies for citizens in crucial economic changes like the new tax reforms .
He stressed that educating journalists about the New 2025 Nigerian Tax Laws by conducting trainings and workshops is paramount, focusing on how these reforms affect Journalists and the public.
According to the NUJ Chairman ” journalists are trained to look at the facts, if we must look at the facts , it will come from authorities like yours, hence it is very important that we are trained so we can properly inform members of the public”
” If journalists are properly equipped, they will in turn ensure that the people are educated” he added.
The Chairman who asked them to send their personnel to the upcoming Congress to speak to members assured them that the NUJ will play it’s role to ensure that the people are educated on the new tax law .
Earlier , the Executive Chairman of Rivers State Internal Revenue Service who was represented by his Special Adviser on Special Duties, Dr Emmanuel Legbosi said the Agency is poised to educate the citizens on the operations of the tax laws.
Dr Emmanuel Legbosi who stated that the visit to the Council is necessitated by Agency’s ongoing advocacy, said they are willing to partner with NUJ to ensure that the people are educated on the New Tax Regime, to ensure they get the information to the common man.
He noted that the new tax law signed into law by President Bola Tinubu in 2025 came with worries in the mind of the citizens, stating that their mission is to douse tension.
According to him, part of their mandate and with law that established the body is to ensure that the people are not duped by people who will pretend to be tax collectors ” we notice that people come from neighbouring states to harass citizens in the name of tax collectors”
” Our people need to identify what the law is and what the law is not, identify what is tax clearance and what is not a tax clearance”
” We want to work with you to see that all these are forestall, with NUJ being the forth estate of the realm , the news will be closer to the people” he added.
Dr Legbosi however, used the opportunity to commend the Executive Governor of Rivers State, Sir Siminalayi Fubara for tying projects such as the Port Harcourt ring road and the trans kakabari road to internally generated revenue.
[1/22, 5:01 PM] King Onunwor: Council Chairman Bars Street Trading At Oil, Its Environs
The Chairman of ObioAkpor Local Government Area had banned all forms of market and street trading within and the Rumuokwurusi Market popularly known as Oil Mill Market.
This was contained in a statement signed by the Council Chairman, Dr. Gift Worlu and made available to the public in Obio /Akpor Local Government Area within the week.
The statement stressed that the ban was total and applied at all times, being enforced 24 hours, day and night, Monday through Sunday, including weekends and public holidays.
” There will be no exceptions, waivers, or designated trading periods within the affected areas. No one is allowed to trade in the affected areas at any time”, it said.
This decisive action, according to the statement, became necessary following persistent disregard for Council directives by some individuals who have continued to engage in illegal trading activities within this corridor.
Their actions have rendered the area unconducive, obstructed free vehicular and pedestrian movement, posed safety and security risks, and caused undue inconvenience to residents and commuters who make daily use of this important roadway.
Consequently, all traders, hawkers, and roadside vendors operating within the affected areas are directed to vacate immediately.
It also warned that any defaulter will be arrested and prosecuted in accordance with the law, without exception.
“All security agencies within Obio/Akpor Local Government Area are hereby mandated to enforce this ban strictly, in collaboration with the Council Task Force, to ensure full compliance and restore order to the area. No individual or group is exempt from this directive”, it said.
The Chairman through the statement, called on members of the public to cooperate with the Council in maintaining a clean, safe, and orderly environment that reflects the dignity of the LGA and promotes the collective well-being of all residents.
The statement further revealed that the ban takes immediate effect and should be treated as bithyfinal notice and warning.
By: King Onunwor
Nigeria was the 7th country in 2024, which filed the most schenghen visa to France, with a total of 111,201 of schenghen visa applications made in 2025, out of which 55,833, about 50.2 percent submitted to France
Although 2025 data is unavailable, these figures from Schengen Visa Info implies that France is not merely a preferred destination, but has been a dominant access point for Nigerian short-stay travel into Europe.
France itself has received more than three million Schengen visa applications, making it the most sought-after Schengen destination globally and a leading gateway for long-haul and third-country travellers. It was the top destination for applicants from 51 countries that same year, including many without visa-exemption arrangements with the Schengen Zone, and the sole destination for applicants from seven countries.
Alison Reed, a senior analyst at the European Migration Observatory said, “France’s administrative reach shapes applicant strategy, but it also concentrates risk. If processing times lengthen or documentation standards tighten in Paris, the effects ripple quickly back to capitals such as Abuja.”
The figures underline that this pattern is not unique to Nigeria. In neighbouring West and Central African states such as Gabon, Benin, Togo and Madagascar, more than 90 per cent of Schengen visas were sought via French authorities in 2024, with Chad, Djibouti, the Central African Republic and Comoros submitting applications exclusively to France.
“France acts as the central enumeration point for many African and Asian applicants,” said Manish Khandelwal, founder of Travelobiz.com, which reported the consolidated statistics. “Historical ties, language networks and established diaspora communities all play into that concentration. But volume inevitably invites scrutiny, and that affects refusal rates and processing rigour.”
That scrutiny is visible in the rejection statistics. Of the more than three million French applications in 2024, approximately 481,139 were denied, a rejection rate of about 15.7 per cent. While this rate is lower than in some smaller Schengen states, the sheer volume of applications means France contributes significantly to the total number of refusals within the zone.
For Nigerian applicants and policymakers, one implication is the need to broaden engagement with other Schengen consular hubs. “Over-reliance on a single consulate creates what one might call administrative bottleneck effects,” said Jean-Luc Martin, a professor and expert in European integration and mobility law at Leiden University. “If applicants from Nigeria default to France without exploring legitimate alternatives in countries like Spain, Germany or the Netherlands, they expose themselves to systemic risk
Martin added that the broader context of Schengen visa policy is evolving, with the European Commission’s preparing roll-out of the European Travel Information and Authorisation System (ETIAS) aimed at harmonising pre-travel screening across member states.
For Nigerians seeking leisure, business or educational travel to Europe, these trends suggest that strategic planning and consular diversification could become as important as the completeness of documentation and financial proof. Governments and travel consultancies in Abuja, Lagos and beyond are already advising clients to explore alternative consular pathways and to prepare for more rigorous screening criteria across all Schengen states
By: Enoch Epelle
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