Business

NSE Bounces Back With 29% Gain

Published

13 years ago

July 3, 2013

The Equities Market of the Nigerian Stock Exchange (NSE) during the first half of 2013 posted an average return of 28.8 percent indicating investors capital gains of N2.45 trillion during the period.
Specifically, the cumulative market capitalisation of listed equities for the first half stood at N11.426 trillion as against its value-on-board of N8.974 trillion that opened the year. This represents an increase of 27.3 percent.
The All Share Index, the barometer for measuring the changes in the price of listed shares on the Nigerian bourse and also doubles as benchmark index for all listed equities and for Nigeria rose from the year’s opening figure of 28,078.81 basis points to 36,164.31 basis points.
The bears’ hold on the market during the latter half of June impacted on the performance of the market during the review period as the month finished on a bearish note with a value depreciation of N649 billion.
The first five months saw the listed equities trading in the green as the market recorded capital gains of N3.10 trillion according to the NSE data.
At the close of business in May the aggregate market capitalisation of listed equities finished at N12.075 trillion while the all share index had a five-month percentage average return of 34.6 percent.
The industrial goods stocks were the performing sub-sector during the review period with a six-month average return of 49.12 percent. The NSE-Lotus Islamic index recorded 42.31 percent return while the NSE which measures 30 most capitalised equities on the Exchange had a 27.38 percent return.
NSE Consumer Goods Index recorded 21.40 percent return during the first half. NSE Banking index indicated a return of 18.46 percent even as NSE Insurance index showed a return of 16.90 percent. The NSE oil and gas index indicated that investors in the downstream had a modest return of 12.18 percent.
Meanwhile the AS1 during the week ended 28, June 2013 nose-dived by 0.82 percent to close at 36,963.77 basis points while the aggregate market capitalisation of listed equities fell by 2.46 percent.
The equities market last week recorded a market turnover of 2.46 billion units of shares valued at N24.23 billion in 33,462 transactions. The activity chart for the week was led by the financial service sector which recorded a turnover of 1.43 billion units of shares worth N14.74 billion in 19,063 deals.
Transnational Corporation of Nigeria Plc, United Bank for Africa Plc (UBA) and Portland Paints and Products Nigeria Plc were the most active in terms of turnover volume as they accounted for a total of 940.73 million units of shares worth N3.45 billion traded in 2,668 deals representing 38.3 percent of the overall market turnover during the week under review.
During the week under review, nineteen (19) stocks recorded price appreciation compared to twenty-seven (27) that depreciated in the previous week, MayBaker was first on the top gainers chart to close with 27.0%, followed by Transcorp with 15.65%, Neimeth with 13.22%, Presco with 41.14%, Ikeja Hotel with 10.26%, and JBerger with 10.00%. Other gainers in the top ten categories were Dnmeyer with 9.85%, Afriprud with 6.86%, Dangsugar with 5.50% and CCNN with 4.09%
On the flipside, fifty six (56) stocks depreciated in the price last week compared to fifty two (52) that deprecated a week ago. RTBriscoe led on the price losers’ table with 16.07% followed by UTC by 15.71%, Mansard by 15.22%, Ashakacem by 13.96%, Portpaint by 13.40%, Cutix by 10.62% Custodyins by 10,30%, Airservice by 10.00%, Mobil by 10.00% and PZ by 10.00%.
At the money market, a total of N31.84 billion worth of 91 day bills was offered and sold at the rate of 11.62 percent at the middle of last week compared with 11.50 percent during the previous week while N21.54 billion and N81.19 billion worth of 182 day and 364 day were offered and sold at the rates of 12.75 percent and 13.22 percent respectively against 11.82 percent and 12.99 percent at the previous auction.
The week recorded total subscription of N246.60 billion at the rate of 183.25 percent compared to N202.85 billion at the previous auction. A total of N92.62 billion worth of treasury bills across all maturities was allotted on a non-competitive basis according to money market data.

Business

NCDMB Signs Mgt Deal With Radisson, Edison…As Board’s 204 Rooms Hotel Open December 2026

Published

4 days ago

March 9, 2026

The Tide

The Nigerian Content Development and Monitoring Board (NCDMB), on Monday signed an international management agreement (IMA), with Radisson Hospitality, Belgium and Edison Hotel and Property Development Company with respect to the Board’s 204 rooms hotel and conference center, developed adjacent to the Content Tower, headquarters of the NCDMB in Yenagoa, the Bayelsa State.

A statement by the Board’s Directorate of Corporate Communications says the management agreement was signed in Durban, South Africa by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, Executive Chairman of Edison Corporation, Mr. Vivian Reedy and Director of Radisson, Mr. Garnier Erwan.

Giving assent to the agreement, Ogbe affirmed that discussions, reviews, and compliance requirements have lasted for over two years, and that the Board secured the approval of all key stakeholders, including the Attorney?General of the Federation and Minister of Justice, Lateef Olasunkanmi Fagbemi, SAN.

“The support of stakeholders ensured that the Agreement meets Nigeria’s legal and regulatory standards.The aspiration of the NCDMB is to deliver a world?class hotel in Yenagoa, Bayelsa State with a fully equipped conference centre—designed to serve the oil and gas industry stakeholders and the Nigerian public”, he said.

He pledged the NCDMB’S commitment to completing the hotel on schedule time and achieving the opening in December, 2026.

“We appreciate our responsibilities—construction quality, pre?opening readiness, funding, safety and security compliance, and maintaining Radisson’s global standard. We will do our best to meet our obligations”, Ogbe added.

The Board’s Scribe charged the Hospitality firm to bring its expertise, systems, and brand strength to deliver a hotel that offers excellent service and guest experience, expressing hope that the partnership with Edison Hotels will create a facility that reflects global quality and supports Bayelsa’s position as an oil and gas hub.

“This project reflects NCDMB’S commitment to using strategic investments to boost productivity, attract investment, build local content, and expand opportunities for business and tourism in Nigeria when completed.

“Radisson Hotel and Conference Center Yenagoa will stand not only as a hotel, but also as a symbol of what strong partnerships can achieve”, Ogbe noted.

In his remarks, Executive Chairman of Edison Corporation, Vivian Reedy described the organisation’s role as a bridge between the owner and the operator, highlighting the group’s intensive experience in the hotel industry, and determination to ensure alignment, transparency, accountability and performance.

“We understand that a successful hotel is not just about buildings. It is about disciplined management, strong oversight, brand integrity, and a shared commitment to excellence.

“Part of our firm’s responsibility is to ensure that the hotel is delivered, operated, and managed in a manner that protects and announces the owner’s investment, while fully supporting Radisson in achieving operational excellence”, he said.

The Edison boss assured that working closely with Radisson and NCDMB’s team, the Radisson Hotel and Conference Center, Yenagoa will become the leading hospitality and conference destination in Bayelsa State, saying it is catalyst for business and investment, and a symbol of quality professionalism and international standards.

He emphasized that the firm has had wonderful successes with Radisson in other locations, even achieving 95% occupancies, noting that the company’s approach is to strengthen governance, support performance, and ensure the interests of the owners are always safeguarded.

“This project represents more than a hotel. It represents a partnership, a trust, and a long-term vision for sustainable value creation. We thank Radisson for its global expertise and operational excellence.

“Edison is fully committed to ensuring that the asset performs strongly, operates efficiently, and delivers lasting value to its owner”, the firm said.

In his speech, the Attorney-General of the Federation Chief Lateef Fagbemi, SAN, representative by Mr. Wada Ahmed Wada described the signing ceremony as historic and wished the parties success in their business relationship.

By Ariwera Ibibo-Howells, Yenagoa

Business

FG engages foreign investors at PEBEC Roundtable on business environment reforms

Published

4 days ago

March 9, 2026

The Tide

Senior government officials and foreign investors operating in Nigeria met in Abuja on Thursday as the Presidential Enabling Business Environment Council (PEBEC) convened the Third Existing Foreign Direct Investors (FDI) Roundtable to address challenges affecting the country’s investment climate.

The high-level engagement, held at the Banquet Hall of the Presidential Villa, brought together top policymakers and representatives of foreign companies for discussions aimed at improving Nigeria’s business environment and strengthening investor confidence.

The roundtable forms part of PEBEC’s efforts to deepen collaboration between government institutions and the private sector while ensuring that ongoing reforms translate into tangible improvements for investors already operating in the country.

Opening the session, Senator Ibrahim Hadejia, Deputy Chief of Staff to the President, welcomed participants on behalf of the Vice President and Chairman of PEBEC, reiterating the Federal Government’s commitment to maintaining a stable and transparent business environment that supports investment and economic growth.

In her remarks, the Director-General of PEBEC, Princess Zahrah Mustapha Audu, said the council remains committed to sustained engagement with investors and coordinated implementation of reforms across government agencies.

She noted that existing foreign investors play a critical role in Nigeria’s economic development through job creation, capital investment, technology transfer, and supply chain development.

According to her, PEBEC’s engagement strategy prioritises listening to investors already operating in the country in order to identify and address operational challenges affecting their businesses.

The roundtable featured presentations and interactive discussions with senior government officials responsible for regulatory and policy frameworks affecting investors.

Among them were the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji; the Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi; and the Inspector-General of Police, IGP Olutunji Rilwan Disu.

Also participating virtually was Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms and Minister of State for Finance-designate, who spoke on ongoing fiscal and tax reform initiatives aimed at improving tax certainty and strengthening revenue administration.

During the discussions, investors raised technical questions and shared insights on issues relating to security, tax administration, customs procedures and fiscal policy reforms.

Business

MAN warns against illegal recycling of File photo

Published

4 days ago

March 9, 2026

The Tide

The Manufacturers Association of Nigeria has warned against the illegal destruction and recycling of returnable packaging materials belonging to beverage companies, following a recent police crackdown on illegal factories in Anambra State.

Earlier in February, the Nigeria Police Force, working with beverage manufacturers, reportedly raided several illegal facilities in Onitsha and surrounding areas, where individuals allegedly destroyed returnable glass bottles and plastic crates belonging to beverage companies.

In a statement on Friday, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, condemned the destruction of these packaging materials as unauthorised and economic sabotage against businesses, and hailed the efforts of the police and regulatory agencies.

“The recent raid is the outcome of sustained engagements and intelligence-led investigations and represents a decisive step by authorities to protect legitimate business operations, uphold environmental standards, and deter further illegal activity,” Ajayi-Kadir said.

The MAN DG described the practice “as criminal and a serious economic sabotage… as assets remain the property of beverage companies that have invested heavily in these sustainable packaging materials to protect the environment”.

According to a Vanguard News report, the Executive Secretary of the Beer Sectoral Group of the Manufacturers Association of Nigeria, Abiola Laseinde, commenting on the February crackdown on alleged factories in Anambra, stated that, “The recent raid is the outcome of sustained engagements and intelligence-led investigations… a decisive step by authorities to protect legitimate business operations, uphold environmental standards and deter further illegal activity.”

Ajayi-Kadir confirmed the earlier news reports, affirming that the police acted on credible intelligence to dismantle illegal operations involving the theft, destruction, and unauthorised recycling of companies’ returnable packaging materials.

He stated that the association received reports from member companies that some factories were destroying company-owned bottles and crates for resale as raw materials, resulting in businesses losing millions of naira in investments.

“The police, working with member companies, acted on credible intelligence and stormed the factories to crack down on illegal disposal, theft, and unauthorised recycling of the returnable packaging materials of the affected companies, notably returnable glass bottles and plastic crates,” Ajayi-Kadir said.

Ajayi-Kadir added that investigations revealed that large quantities of bottles and crates were diverted from legitimate channels into informal recycling networks across the South-East.

“Member companies identified multiple illegal locations in the South-East where they crush our bottles and crates for resale as raw materials, while police investigations showed that significant quantities were being diverted from legitimate channels into informal recycling networks,” MAN’s DG said.

He noted that in several cases, reusable bottles were deliberately broken and plastic crates shredded and sold as raw materials, thereby undermining beverage companies’ circular packaging model.

He remarked, “These Returnable Packaging Materials are company-owned assets designed for multiple reuse cycles and form a critical part of their sustainability, cost-efficiency, and product quality systems. It’s a criminal activity to destroy them.”

Meanwhile, Ajayi-Kadir warned those involved in the illegal practice to desist, stressing that the association would continue to collaborate with law enforcement agencies to ensure offenders face the full weight of the law.

He added that beyond the direct loss of assets, the activities disrupt supply chains, raise operational costs and pose environmental and safety risks due to unsafe recycling practices.

MAN urged relevant government agencies to intensify efforts against the illegal diversion and destruction of returnable packaging materials outside the beverage industry’s value chain.

MAN’s DG also called on members of the public to report suspicious activities to the police or to the consumer care lines of beverage companies.