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Stock Market Records Improved Performance

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16 years ago

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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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NPA Assures On Staff Welfare 

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2 weeks ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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2 weeks ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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2 weeks ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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