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.

Transport

Nigeria Rates 7th For Visa Application To France —–Schengen Visa

Published

1 day ago

January 28, 2026

The Tide

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

Transport

West Zone Aviation: Adibade Olaleye Sets For NANTA President

Published

1 day ago

January 28, 2026

The Tide

Prince Abiodun Ajibade Olaleye, a former Welfare Officer and Public Relations Officer of the National Association of Nigeria Travel Agencies (NANTA), has formally declared his intention to contest for the position of Vice President of NANTA Western Zone, ahead of the zonal elections scheduled for Thursday, February 26, 2026.

In a New Year message to members of the association, Olaleye expressed optimism about the prospects of the travel and tourism industry in 2026, despite the economic headwinds and migration policy challenges that affected operations in the previous year.

He acknowledged that reduced patronage and declining trade volumes had placed significant financial pressure on many travel agencies, but urged members to remain resilient and forward-looking.

According to him, the challenges confronting the industry should be seen as opportunities for growth, innovation and institutional strengthening.

He stressed the need for unity and collective action among members of the association, noting that collaboration remains critical to navigating the evolving global travel environment.

Unveiling his vision for the NANTA Western Zone, Olaleye said his aspiration is to consolidate on the achievements of past leaders while expanding the zone’s relevance, influence and impact “beyond imagination.” He promised a leadership focused on commanding excellence, improved member welfare and stronger stakeholder engagement.

Drawing from his experience in previous executive roles within NANTA, the vice-presidential aspirant said he is well-positioned to make meaningful contributions to the association, particularly in areas of member support, public engagement and institutional growth.

“I believe that together, we can take our association to greater heights and build a stronger, more prosperous NANTA Western Zone that benefits all members,” he said, while appealing to delegates for their support and votes.

Olaleye concluded by offering prayers for good health, peace and prosperity for members in 2026, expressing confidence that the new year would usher in renewed opportunities for the travel industry and the association at large.

By: Enoch Epelle

Business

Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE

Published

1 day ago

January 28, 2026

The Tide

The Centre for the Promotion of Private Enterprise (CPPE) has warned that renewed calls for a sugar tax on non-alcoholic beverages could hurt Nigeria’s manufacturing sector, threaten jobs and slow the country’s fragile economic recovery.

In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.

Yusuf who insisted that the food and beverage sector remains the backbone of Nigeria’s manufacturing industry, said the industry supports millions of livelihoods across farming, processing, packaging, logistics, wholesale and retail trade, and hospitality.

He remarked that any policy that weakens this ecosystem could have far-reaching consequences, including job losses, lower household incomes and reduced investment.

Yusuf argued that proposals for sugar taxation in Nigeria are often influenced by global policy templates that do not adequately reflect local conditions.

According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.

“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.

“Existing obligations include company income tax, value-added tax, excise duties, levies on profits and imports, and multiple state and local government charges. These are compounded by high energy costs, exchange-rate volatility, elevated interest rates and expensive logistics,” he said.

The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.

Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.

By: Lady Godknows Ogbulu