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Market Capitalisation Rises By N27bn

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13 years ago

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The market capitalisation of the Nigerian Stock Exchange (NSE) on Wednesday increased by N27 billion in spite of the major losses incurred by blue chip equities.

Reports say that the market capitalisation which opened with N6.611 trillion rose by N27 billion, representing 0.41 per cent to close at N6.638 trillion.

The increase, according to the NSE, was due to the listing of Union Bank of Nigeria (UBN) rights issue of 16.94 billion ordinary units.

The All-Share Index depreciated by 30.97 basis points or 0.15 per cent to close at 20,814.35 as against 20,845.32 recorded on Tuesday.

NewGold led the price losers’ chart recording a loss of N3 to close at N2, 525 per unit.

Okomu Oil followed with a loss of N1.53 to close at N30.30, while Flour Mills dipped by N1.09 to close at N54.01 per share.

Ashaka Cement depreciated by 47k to close at N9.11 while Zenith dropped by 45k to close at N12.63 per share.

On the hand, UACN topped the price gainers chart gaining N1.50 to close at N31.56 per share.

CAP trailed with N1 to close at N21.02, while GlaxoSmithKline grew by N20.21 per share.

Julius Berger appreciated by 74k to close at N30.99, while UAC-Property rose by 50k to close at N10.51 per share.

Reports says that the banking sub-sector remained the toast of investors accounting for 127.59 million shares worth N1.02 billion exchanged in 2,162 deals.

GTB, for the second consecutive day, drove activities in the sub-sector with a total of 29.44 million shares worth N427.57 traded in 517 deals.

Diamond followed with 19.85 million shares valued N49.24 million exchanged in 59 deals.

NAN also reports that investors staked N1.39 billion on 168.08 million shares traded in 3,816.

This was against 216.71 million shares valued N2.13 billion traded in 3,560 deals.

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Kenyan Runners Dominate Berlin Marathons

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20 hours ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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20 hours ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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20 hours ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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