Business

Oil Price Crucial To Nigeria’s Stock Market Growth – ASHON

Published

11 years ago

February 11, 2015

The Association of Stockbroking Houses of Nigeria (ASHON) has said that developments in the global crude oil market remain a critical factor for the nation’s stock market stability in 2015.
ASHON President, Mr. Emeka Madubuike told newsmen in Lagos on Monday that the stock market would experience increased activity with stability in the international crude oil price.
Madubuike said that “the market will firm up once the price of crude oil firms up at the international market.”
He said that the postponement of the 2015 general elections and insecurity challenges were local factors that would be overcome.
Madubuike said that foreign investors, the major investors in the Nigerian capital market, were using the price of crude oil as a bench mark for their re-entry.
According to him, foreign investors who exited the market would come back with stability in the crude oil market.
Madubuike, however, urged retail and institutional investors to take advantage of the low price of equities and increase their stake in the market.
“We are in a buyers market and local investors should take a position now that prices of equities are low,” he said.
Meanwhile, a turnover of 2.03 billion shares worth N20.63 billion traded in 23,436 deals last week compared with 2.21 billion shares valued N28.96 billion transacted in 19,495 deals in the preceding week.
The Financial Services Industry led the activity chart with 1.52 billion shares worth N11.23 billion traded in 14,695 deals.
The Consumer Goods sector followed with a turnover of 210.18 million shares valued N5.12 billion achieved in 3,950 deals.
The third place was occupied by the Oil & Gas Industry with 122.81 million shares worth N2.29 billion exchanged in 1,259 deals.
The All-Share index last week increased by 423.01 basis points or 1.43 per cent, to close at 29,985.08, against the 29,562.07 achieved in the corresponding week due to price growth.
The market capitalisation rose by N158 billion to close at N10.005 trillion, compared with N9.847 trillion posted in the previous week.
R.T. Briscoe led the gainers’ table for the week in percentage terms, appreciating by 34.43 per cent or 21k to close at 82k per share.
Dangote Flour Mills followed with a gain of 33.33 per cent or N1, to close at N4, while UAC Property Development went up by 30.78 per cent or N2.81, to close at N11.94 per share.
On the contrary, Conoil recorded the highest loss for the week in percentage terms, shedding 9.97 per cent or N3.61 to close at N32.60 per share.
Vitafoam fell by 9.47 per cent or 34k to close at N3.25, while Vono Products declined by 8.55 per cent or 10k to close at N1.07 per share.

Abuja-Kaduna light rail during inspection by the Chairman, Subsidy Reinvestment and Empowerment Programme (SURE-P), Retired Gen. Martin Lurther-Agwai, in Abuja, recently.

Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

Published

2 hours ago

February 27, 2026

The Tide

Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).

According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.

Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.

During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.

He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.

Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.

Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.

These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.

Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.

This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.

It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.

It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

By: Nkpemenyie mcdominic, Lagos

Business

President Tinubu Approves Extension Ban On Raw Shea Nut Export

Published

2 hours ago

February 27, 2026

The Tide

President Bola Ahmed Tinubu has approved the extension of the ban on the export of raw shea nuts for a further one year, from February 26, 2026, to February 25, 2027.

Bayo Onanuga, Special Adviser to the President on (Information and Strategy) who disclosed this on Wednesday, February 25, 2026 stressed the Federal Government remains committed to policies that promote inclusive growth, local manufacturing, and position Nigeria as a competitive participant in global agricultural value chains.

The decision underscores the administration’s commitment to advancing industrial development, strengthening domestic value addition, and supporting the objectives of the Renewed Hope Agenda.

The ban aims to deepen processing capacity within Nigeria, enhance livelihoods in shea-producing communities, and promote the growth of Nigerian exports anchored on value-added products.

To further these objectives, President Tinubu has authorised the two Ministers of the Federal Ministry of Industry, Trade and Investment, and the Presidential Food Security Coordination Unit (PFSCU), to coordinate the implementation of a unified, evidence-based national framework that aligns industrialisation, trade, and investment priorities across the shea nut value chain.

He also approved the adoption of an export framework established by the Nigerian Commodity Exchange (NCX) and the withdrawal of all waivers allowing the direct export of raw shea nuts.

The President directed that any excess supply of raw shea nuts should be exported exclusively through the NCX framework, in accordance with the approved guidelines.

By: Nkpemenyie Mcdominic, Lagos

Business

Crisis Response: EU-project Delivers New Vet. Clinic To Katsina Govt.

Published

2 hours ago

February 27, 2026

The Tide

A Non – Governmental Organisation (NGO), Mercy Corps, has handed over a newly constructed Veterinary Clinic and a rehabilitated structure in Danmusa Local Government Area (LGA), to the Katsina State Government.

The project, which included a 20,000-litre capacity upgraded solar-powered borehole, was executed under the European Union-funded Conflict Prevention, Crisis Response and Resilience (CPCRR) project.

The initiative is being implemented in collaboration with the International Organisation for Migration (IOM), and the Centre for Democracy and Development (CDD).

Speaking during the handover ceremony, Wednesday, the Commissioner for Livestock and Animal Husbandry in Kastina State, Prof Ahmed Bakori, commended Mercy Corps and its partners on such commitment to support peace and development in the state.

While praising the state government for restoring peace and stability, the said project would improve livestock services and the welfare of farmers who depend on animal health services for livelihood.

Bakori buttressed that improved security in the state had enabled development partners to implement meaningful interventions in communities affected earlier.

He said, “Recently, Gov. Dikko Radda was in South Africa to explore strategies for boosting livestock production and strengthening the livestock value chain in line with the government’s economic development agenda.”

In his remarks, Mercy Corps Senior Programme Manager, Mr Philip Ikita, expressed satisfaction on the timely and successful implementation of the project in Danmusa.

He stated that although Mercy Corps began its operations in the state in 2023, security challenges, had initially prevented the organisation from accessing some areas, including Danmusa.

Ikita said that the project would improve access to essential services, strengthen livelihoods and contribute to sustaining peace in the community.

“The project involves the upgrade of a veterinary clinic from a two room structure into a fully functional six office facility, embarked on to strengthen livestock healthcare services in the area.

“The programme builds on the success of the Conflict Mitigation and Community Reconciliation (CMCR) project and seeks to promote long-term peace and stability in Northwest Nigeria.

“It works across 48 communities in Zamfara and Katsina States, addressing the root causes of conflict, enhancing community resilience, and strengthening socio-economic recovery,” he said.

Also, the District Head of Danmusa, Ahmadu Abubakar, expressed appreciation to Mercy Corps and its partners for the intervention, describing the projects as timely and beneficial.

Earlier, the Chairman of Danmusa LGA, Ibrahim Na-Mama, represented by his Deputy, Musa Muhammad, expressed appreciation for the projects, assuring that the council would support efforts to safeguard them.