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Indices Drop By 0.12% On Exchange

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16 years ago

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Share price losses suffered by some blue chip stocks recently ushered in the bears and depressed corporate performance indicators to slide by 0.12 percent.

At the close of transaction recently the All-share Index which opened at 20,580.77 points, while market capitalisation dropped by N6 billion from N4.936 trillion to N4.930 trillion.

In volume terms, a total 3752 million shares valued at N2.65 billion changed hands, up from a total of 341.3 million shares worth N1.57 billion exchanged by investors in the previous day.

On the days price movement chart, Flour Mills Nigeria Plc led 31 other stocks to suffer price depreciation with a loss of 181 kobo to close at N35.19 per share, followed by Conoil Plc with 145kobo to close at N27.63 per share, while Cadbury Nigeria Plc lost 55 kobo to close at N10.49 per share.

Furthermore Lafarge WAPCO Plc, Longman Nigeria Plc, Guaranty Trust Bank Plc, IHS Plc, Skye Bank Plc and May & Baker Nigeria Plc all shed 49 kobo, 47 kobo, 28 kobo, 22 kobo, 21kobo and 19 kobo each to close at N29.75, N9.03 N15.02, N4.24, N5.26, and N3.68 respectively.

On the other hard, Dangote Flour Mills Plc topped the day’s price gainers’ chart with a gain of 44 kobo to close at N9.43 per share, followed by Union Bank of Nigeria Plc with 26 kobo to close N5.46 per share, while Afribank Nigeria Plc added 11 kobo to close at N2.40 per share.

Similarly, Guaranty Trust Assurance Plc, United Bank for Africa Plc, Fidson Healthcare Plc, Intercontinental Bank Plc and Oceanic Bank Plc all added 9 kobo, 8 kobo, 7 kobo, 7 koo and 7 kobo each to close at N2.11, N10.75, N1.62, N1.47, and N1.54 respectively.

On the days activity chart, the banking sub-sector was the most active in volume terms trading 234.1 million shares worth N1.69 million,  followed by the insurance sub-sector with 65.8 million valued at N92.4 million, while the food/beverages and tobacco sub-sector traded 16.6 million shares worth N211.9 million.

Further review of activities in the sub-sector showed that the volume in the banking sub sector was largely accounted for by 120.9 million shares of United Bank for Africa Plc worth N1.29 billon, followed by 35.7 million shares of Spring Bank Plc valued at N29.6 million.

For the insurance sub-sector, the volume was energized by 36.2 million shares of Guaranty Trust Assurance Plc worth N73.3 million, while 10.6 million shares of Dangote Sugar Refinery Plc valued at N156 million lifted the volume of the food/beverages and tobacco sub-sector.

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NPA Assures On Staff Welfare 

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1 week 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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1 week 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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1 week 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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