Some capital market operators have expressed optimism that the nation’s capital market would experience a boost with the near successful conduct of the Presidential and National Assembly elections.
They told newsmen in separate interviews in Lagos that peaceful conduct of the election would increase investors’ confidence in the market.
Alhaji Rasheed Yussuf, immediate President, Association of Stockbroking Houses of Nigeria (ASHON), said that anxiety surrounding the general elections would reduce with the outcome of March 28 polls.
Yussuf said that the market had started reacting positively to the outcome of the elections, noting that more investors would embrace the market.
“It is a good thing that the presidential election, which is more critical, has come and gone without violence,” he said.
Yussuf said that the outcome of the election had shown that there would be Nigeria after the elections, noting that the tempo should be maintained.
He said that the market would react more positively once a winner was declared because there was no major violence.
“Anxieties surrounding the general elections will be subdued because there was no major riot or violence,” Yussuf said.
Mr Olaleye Williams, the Managing Director, GlobalView Consult & Investment Ltd., said that the market would witness increased activities if the tempo would be maintained.
Williams said that local and foreign investors that exited the market due to election anxieties would return to the market.
He stated that the development would increase activities of speculators in the market, to make quick return in the next couple of days.
Meanwhile, a turnover of 2.51 billion shares worth N24.12 billion were exchanged in 19,971 deals last week against 1.38 billion shares valued N12.05 billion traded in 16,877 deals in the preceding week.
The Financial Services Industry led the activity chart with 2.19 billion shares worth N14.14 billion achieved in 12,589 deals.
The conglomerates sector followed with a turnover of 161.71 million shares worth N1.09 billion traded in 1,223 deals.
The third place was occupied by the Consumer Goods Industry with 67.49 million shares worth N7.16 billion transacted in 2,516 deals.
NAN reports that the All-Share Index last week rose by 1228.7 points or 4.19 per cent to close at 30,562.93 compared with 29,334.23 points posted in the corresponding week due to price appreciation.
Also, the market capitalisation improved by N530 billion to close at N10.319 trillion against N9.789 trillion achieved in the previous week.
Dangote Flour Mills led the gainers’ table for the week, appreciating by 27.59 per cent or 80k to close at N3.70 per share.
Champion Breweries followed with a gain of 23.84 per cent or N1.23 to close at N6.39, while Forte Oil Plc increased by 18.33 per cent or N34.84 to close at N224.89 per share.
Conversely, UBA Capital topped the losers’ chart in percentage terms, shedding 21.82 per cent or 36k to close at N1.29 per share.
UAC trailed with a loss of 10.97 per cent or N3.95 to close at N32.05, while Sterling Bank declined by 8.30 per cent or 19k to close at N2.10 per share.
11m Benefitted From $415m World Bank Supported CSDP – FG
The Federal Government has disclosed that 11 million Nigerians benefited from $415 million World Bank-supported Community and Social Development Project (CSDP) programme.
Minister of Humanitarian Affairs, Hajiya Umar Farouq, disclosed this in an opening address during the close out ceremony of the CSDP programme.
According to Farouq, 11 million direct beneficiaries with an estimated 25 million indirect beneficiaries across 29 states and the Federal Capital Territory (FCT) were reached between 2009 and 2021 when the CSDP programme was being implemented.
She also described the project as highly successful and highlighted sectors the project focused on including health, education, transportation, electrification, community housing, and others.
She said: “The Project became effective in 2009, has had two additional financing, all totaling USD415 million. In its over 11 years of existence, the CSDP has evolved into one of the strong pillars for the implementation of the Social Protection Programmes of the Federal Government under the supervision of my Ministry through the National Social Safety Nets Coordinating Office (NASSCO).
“The CSDP operates with the core principle of Community Driven Development (CDD) Approach. This is a development paradigm that focuses on the needs of the poor and vulnerable and empowering them with development resources to address their peculiar needs.
“Using this unique approach, the CSDP has implemented micro projects in poor communities across the 543 Local Government Areas of 29 States and the Federal Capital Territory.
“This represents about 70 per cent of the total number of Local Governments in Nigeria. The poor communities are identified specifically through the use of Poverty Maps agreed to by each participating State and FCT.
“The Project has made substantial impact on improving access of the poor and vulnerable to social and natural resources infrastructure across the benefiting communities. The total number of beneficiaries of CSDP stands at 11 million direct beneficiaries across the 29 states, with estimated 25 million indirect beneficiaries.
“Specifically, the CSDP has achieved the following: Successful completion of 16,166 micro-projects in 5,664 communities and 934 vulnerable groups. These micro-projects cut across eight sectors of intervention namely education, health, water, transportation, electrification, socio-economic, environment and community housing; 5,764 classrooms, 1,323 health centres and 4,442 water micro projects were constructed and or rehabilitated.
Cooking Gas Use Campaign Begins In 12 States
The Federal Government in collaboration with the Nigerian Energy Support Programme has kicked off the national sensitisation and awareness campaign for the use of Liquefied Petroleum Gas in Nigeria beginning with 12 pilot states.
The states include Sokoto, Katsina, Bauchi, Gombe, Enugu, Ebonyi, Delta, Bayelsa, Lagos, Ogun, Niger and the Federal Capital Territory.
The government said the campaign to ensure increased usage of LPG, popularly called cooking gas, was in line with its ‘Decade of Gas’ initiative, adding that its socioeconomic and health benefits far outweighed the use of kerosene and firewood.
Speaking at the inaugural campaign in Abuja, Tuesday the Vice President, Prof. Yemi Osinbajo, said there was no excuse for Nigeria not to be able to develop its gas sector considering the huge gas reserves in-country.
Osinbajo, who was represented by the Programme Manager, National LPG Expansion Plan, Office of the Vice President, Dayo Adeshina, said the use of LPG would help in cutting down gas flaring in Nigeria.
He said the government was working to ensure that Nigeria achieved the five million metric tons LPG consumption target, adding that efforts were being made to ensure the provision of cylinders at affordable rates to Nigerians.
“Our gas reserves in this country are enormous and we have every reason to develop the gas sector and ensure that our citizens use LPG,” the Vice President said.
He added, “The use of LPG is good for our health and has better socioeconomic benefits and this is in line with the ‘Decade of Gas’ initiative of government.”
Recently, the Minister of State for Petroleum Resources, Chief Timipre Sylva, said over 120 million Nigerians were experiencing energy poverty despite the huge natural gas resources across the country.
Participants at the awareness campaign also called for adequate penetration of LPG usage in Nigeria, as they pledged to support the government in achieving this target.
Rail Transport Suffers 38% Decline In Q1 2021 – NBS
Rail transportation suffered a 38 per cent, year-on-year average decline in passenger and cargo travel in the first quarter of the year 2021 (Q1’21).
The National Bureau of Statistics (NBS) disclosed this yesterday in its Rail Transport Data for Q1’21, which showed that passenger travel fell by 34.4 per cent, year-on-year, to 424,460 passengers in Q1’21 from 647,055 passengers recorded in Q1’2020.
Similarly, cargo travel fell by 43.13 per cent, year-on-year, to 10,511 tons in Q1’21 from 18,484 recorded in Q1 2020.
The NBS stated: The rail transportation data for Q1 2021 reflected that a total of 424,460 passengers travelled via the rail system in Q1 2021 as against 647,055 passenger recorded in Q1 2020 and 134,817 in Q4 2020 representing -34.40 per cent decline year-on-year and +214.84 per cent growth QoQ respectively.
“Similarly, a total of 10,511 tons of volume of goods/cargo travelled via the rail system in Q1 2021 as against 18,484 recorded in Q1 2020 and 35,736 in Q4 2020 representing -43.13 per cent decline year-on-year and -70.59 per cent decline QoQ respectively.
Revenue generated from passengers in Q1 2021 was put at N892,467,526 as against N398,999,290 in Q4 2020.
Similarly,revenue generated from goods/cargo in Q1 2021 was put at N26.19 million as against N82.57 million in Q4 2020.
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