Business

Investors’ Sentiment Boosts Trading On NSE

Published

13 years ago

July 17, 2013

The improved inves
tors’ sentiment on the floor of the Nigerian Stock Exchange (NSE) resulting to the market ending in the green last week surged the twin market indicators, the All Share Index (ASI) and the aggregate market capitalization of listed equities surged by 1.24 per cent each.
Specifically, the ASI closed the week at 37,382.49 basis points from an index-on-board of 36,926.29 basis points even as the market capitalisation of listed equities increased from the week’s opening value of N11.694 trillion to N11.839 trillion.
The NSE 30 index which tracks the most capitalised stocks on the Nigerian bourse appreciated by 1.05 per cent to finish at 1,758.73 points.
Also four of the NSE indices were in the green during the review week as the NSE Consumer Goods rose by 0.75 per cent, NSE Banking 1.34 per cent, NSE Insurance 0.37 percent and the NSE Industrial goods 3.34 per cent.
However, the NSE Oil/Gas, NSE-Lotus I and the NSE-ASeM nose dived by 0.14 per cent, 0.02 percent and 0.57 per cent, respectively.
A closer look at the market revealed it rebounded last week as the bulls took charge of the market for three days running resulting to a 2.18 per cent appreciation pushing the value-based index that tracks all equities to hover between 35,832 points and 36,952 points.
The week opened on Monday of the review week on a negativenote, as the NSE ASI fell by 0.37 per cent to close at 36,796.14 basis points having opened at 36,926.29 basis points the previous week while cumulative market capitalisation of listed equities dropped by N44 billion to close at N11.650.87 trillion compared with N11.694.95 trillion the previous week.
The second trading in the week under review saw the benchmark index rising by 0.61 per cent which caused the index to finish at 37,014.14 basis points even as the market capitalisation stood at N11.56 trillion.
The overall market volume traded on the same day increased by 53.4 per cent just as increased by 53.4 per cent just as the value grew by 50.8 per cent.
In all, a total of 289.25 million units of shares valued at N324 billion were exchanged by investors in 5,081 deals.
The positive note continued on Wednesday with the NSE ASI soaring by 0.31 percent to finish at 37,128.40 basis points while market capitalisation of listed equities added N36 billion to close at N11,758.27 trillion from an on-board-value of N11.722.08 billion.
The market, last Wednesday recorded a traded volume of 213.24 million units of shares worth N3.22 billion exchanging hands in 5,815 transactions down from 289.25 million units of shares valued at N3.24 billion traded in 5,419 deals the previous day.
The bulls sustained their hold in the equity market of the Nigerian bourse on Thursday with the bench mark index adding 199.26 points to end at 37,327.66 basis points as 34 stocks recorded price appreciation while 16 lost in their value.
The last trading day of the week under review saw the market finishing on a strong note as the bench mark index went up by 0.15 per cent to stand at 37,382.49 basis points while the aggregate market capitalisation of listed equities rose to N11.72 trillion.
A traded volume of 245.96 million units of shares valued at N2.94 billion were recorded at the close business on the Exchange on Friday.
The overall turnover volume during the review week stood at 1.674 billion units of shares valued at N18.266 billion exchanged by investors in 25.367 trades as against a total of 3.478 billion units of shares worth N14.902 billion that exchanged hands the previous week in 24,576 trades.
In volume terms according to the NSE weekly data, the financial services sector topped the sectorial activity chart with 1.306 billion units of shares worth N11.630 billion exchanged by investors in 13,565 trades.
The Banking subsector of the financial services sector was the most active in volume terms during the review week. Activities in the shares of United Bank for Africa Plc, Guaranty Trust Bank Plc and Access Bank Plc drove the volume in the subsector as they accounted for 735.184 million units of shares representing 77.68 per cent and 43.91 per cent of the turnover volume recorded by the subsector and the overall market turnover during the week under review respectively.
The Conglomerates sector emerged second on the week’s activity chart having a turnover of 101.851 million units of shares at the cost of N278.921 million in 1,077 trades.
Activities in the shares of Transnational Corporation of Nigeria Plc drove the volume in the sector as 98.150 million units of its shares were traded by investors in 727 transaction at the value of N137.029 million.
At the over-the-counter bond market, a total of 4,100 units of FGN bonds worth N443,665 were traded in 18 transactions as against 900 units at the value of N100,126 recorded in 19 trades the preceding week.
On the Price Movement chart, 37 stocks appreciate in their value during the week in contrast to 44 shares which recorded price appreciation the previous week.
A total of forty-seven shares dipped in their value compared with 36 shares that plunged in their value the previous week.
Mobil Oil Nigeria Plc vanguard the top 10 bulls with N10.71, Julius Berger Nigeria Plc N5.02, UACN Plc N4.00, Ecobank Transnational Incorporated N1.11, Beta Glass Company Plc N1.00.
Other top 10 price gainers for the week include IPWA Plc 19 kobo, HIS Plc 60 kobo, Ikeja Hotel Plc 7 kobo, National Salt Company of Nigeria Plc 91 kobo and Dangote Sugar Refinery Plc 84 kobo.
On the downside, the top 10 losers were Glaxo Smthkline N12.73, Costain West Africa Plc 24 kobo, Smart Product Nigeria Plc 20 kobo, Coulterville Business Solution Plc 18 kobo, NPF Microfinance Bank Plc 12 Kobo, Trans-Nationwide Express Plc 25 kobo, Vono Product Plc 17 kobo, Chellarams Plc 48 kobo, Thomas Wyatt Nigeria Plc 11 kobo and Transnational Corporation of Nigeria Plc 16 kobo.

Business

NCDMB, Jake Riley Empower 250 Youths On Vocational Skills

Published

1 week ago

February 2, 2026

The Tide

As parts of efforts to promote self-reliance and job creation, the Nigerian Content Development and Monitoring Board, in collaboration with Jake Riley Academy, has trained 250 Lagos youths in different vocational skills.

The month-long intensive training programme aimed at equipping them with full range of skills was also designed to enable them become self-reliant and contribute meaningfully to the industrial development of the country.

The programme was conceived and conducted under the FAST Selling Skills Training Programme, to sharpen the skills of Nigerian youths and equip them with business starter packs that enable them launch out into commercial services.

Speaking at the event, the Director, Capacity Building, Directorate of the Board, Abayomi Bamidele, challenged Nigerian youths to embrace skills acquisition as a viable pathway to self-reliance and national development.

Bamidele, who was represented by the Supervisor, Marine Vessel Categorization and Technical Assistant to the Director, John Barigha, urged the graduands to take full advantage of the opportunity, stressing that their success would largely depend on how effectively they apply the skills acquired.

He cautioned the beneficiaries against trivialising the programme, noting that discipline, dedication and commitment would determine how far they progress in their chosen fields.

He also disclosed that the Board is concluding plans to introduce a new training programme targeted at youths aged 35 years and below, particularly those with engineering backgrounds, to enhance participation and create more opportunities within the oil and gas sector.

He urged beneficiaries to utilise their starter packs effectively, cautioning against selling the equipment provided.

“We are not giving you fish; we are teaching you how to fish.“What we have given you today is the net. It is now left for you to make meaningful use of it,” Bamidele said.

He stressed that the Board invested heavily to ensure the programme delivered lasting impact.

Also speaking, the Chief Executive Officer, Jake Riley Ltd, Mrs Funmi Ogbue, described the graduation as a defining moment for 250 young Nigerians.

Ogbue said the programme reflected NCDMB’s expanding role in local content development, with youth empowerment central to economic transformation.

She described the programme as a strategic investment in Nigeria’s future, noting that NCDMB continues to demonstrate that human capital development is central to national growth.

“Today celebrates not just achievement, but a national vision positioning young people as drivers of Nigeria’s economic future,” Ogbue said.

Ogbue described the initiative as a strategic human capital investment aligned with President Bola Tinubu’s inclusive growth agenda adding that the training prioritised market-ready skills capable of generating immediate income across growth sectors.

“What these graduands have received is not charity, but capability,” she said.

Ogbue noted that beneficiaries underwent transparent selection and intensive foundation training before advancing into seven specialised skill tracks of solar installation, fashion design, catering, digital freelancing, textile and Adire making, electrical installation and GSM phone repair.

“These skills were chosen to meet market demand and expand employment opportunities nationwide,” Ogbue added.

She commended NCDMB leadership, especially Director of Capacity Building, Bamidele Abayomi, for championing demand-driven training.

Ogbue also praised trainers, facilitators and Jake Riley Academy for blending technical excellence with entrepreneurship.

A beneficiary, Anuba Chidera, a solar installation trainee, described the training as life-changing with strong real-world focus.

Business

NUJ Partners RSIRS On New Tax Law Education

Published

2 weeks ago

January 28, 2026

The Tide

The Nigeria Union of Journalists NUJ,Rivers State Council has reiterated its commitment to interpreting new Policies to empower citizens, not just report them.

The Chairman of Council Comrade Paul Bazia -Nsaneh made the commitment while responding to the Executive Chairman of the Rivers State Internal Revenue Service, Sir Israel Egbunefu when his team paid a courtesy visit to the Council.

Comrade Paul Bazia -Nsaneh emphasized the media’s role in interpreting policies for citizens in crucial economic changes like the new tax reforms .

He stressed that educating journalists about the New 2025 Nigerian Tax Laws by conducting trainings and workshops is paramount, focusing on how these reforms affect Journalists and the public.

According to the NUJ Chairman ” journalists are trained to look at the facts, if we must look at the facts , it will come from authorities like yours, hence it is very important that we are trained so we can properly inform members of the public”

” If journalists are properly equipped, they will in turn ensure that the people are educated” he added.

The Chairman who asked them to send their personnel to the upcoming Congress to speak to members assured them that the NUJ will play it’s role to ensure that the people are educated on the new tax law .

Earlier , the Executive Chairman of Rivers State Internal Revenue Service who was represented by his Special Adviser on Special Duties, Dr Emmanuel Legbosi said the Agency is poised to educate the citizens on the operations of the tax laws.

Dr Emmanuel Legbosi who stated that the visit to the Council is necessitated by Agency’s ongoing advocacy, said they are willing to partner with NUJ to ensure that the people are educated on the New Tax Regime, to ensure they get the information to the common man.

He noted that the new tax law signed into law by President Bola Tinubu in 2025 came with worries in the mind of the citizens, stating that their mission is to douse tension.

According to him, part of their mandate and with law that established the body is to ensure that the people are not duped by people who will pretend to be tax collectors ” we notice that people come from neighbouring states to harass citizens in the name of tax collectors”

” Our people need to identify what the law is and what the law is not, identify what is tax clearance and what is not a tax clearance”

” We want to work with you to see that all these are forestall, with NUJ being the forth estate of the realm , the news will be closer to the people” he added.

Dr Legbosi however, used the opportunity to commend the Executive Governor of Rivers State, Sir Siminalayi Fubara for tying projects such as the Port Harcourt ring road and the trans kakabari road to internally generated revenue.

[1/22, 5:01 PM] King Onunwor: Council Chairman Bars Street Trading At Oil, Its Environs

The Chairman of ObioAkpor Local Government Area had banned all forms of market and street trading within and the Rumuokwurusi Market popularly known as Oil Mill Market.

This was contained in a statement signed by the Council Chairman, Dr. Gift Worlu and made available to the public in Obio /Akpor Local Government Area within the week.

The statement stressed that the ban was total and applied at all times, being enforced 24 hours, day and night, Monday through Sunday, including weekends and public holidays.

” There will be no exceptions, waivers, or designated trading periods within the affected areas. No one is allowed to trade in the affected areas at any time”, it said.

This decisive action, according to the statement, became necessary following persistent disregard for Council directives by some individuals who have continued to engage in illegal trading activities within this corridor.

Their actions have rendered the area unconducive, obstructed free vehicular and pedestrian movement, posed safety and security risks, and caused undue inconvenience to residents and commuters who make daily use of this important roadway.

Consequently, all traders, hawkers, and roadside vendors operating within the affected areas are directed to vacate immediately.

It also warned that any defaulter will be arrested and prosecuted in accordance with the law, without exception.

“All security agencies within Obio/Akpor Local Government Area are hereby mandated to enforce this ban strictly, in collaboration with the Council Task Force, to ensure full compliance and restore order to the area. No individual or group is exempt from this directive”, it said.

The Chairman through the statement, called on members of the public to cooperate with the Council in maintaining a clean, safe, and orderly environment that reflects the dignity of the LGA and promotes the collective well-being of all residents.

The statement further revealed that the ban takes immediate effect and should be treated as bithyfinal notice and warning.

By: King Onunwor

Transport

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

Published

2 weeks 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