Business

Market capitalisation Loses N98Bn

Published

17 years ago

October 21, 2009

The bears sustained their grip for the third consecutive trading session in the Equity Market of the Nigerian Stock Exchange (NSE) last week with the market capitailisation dropping by N98 billion to finish at N5.255 trillion. This represents 1.8 per cent drop compared with the N5.353 trillion at which it closed Wednesday of the review week. Also, the all share index which indicates the changes in the value of share prices listed on the exchange down trended by 1.8 per cent or 424.62 points to close at 22,560.43 basis points from 22,985.05 basis points the previous day. The most sought after stocks were the banking stocks as investors bought 313.80 million units of shares worth N2.44 billion in 3,767 deals. Access Bank shares were the most traded in the banking subsector having exchanged 161.38 million shares valued at N1.11 billion in 210 transactions. The Insurance subsector followed with investors buying 141.19 million shares worth N312.64 million in 490 deals. The Beverages and Tobacco subsector emerged third with investors staking N171.58 million on 14.3 million units of shares in 456 deals. Total led the pack of gainers as it surged by 252 kobo to close higher at N152.50 per share. Conoil Plc gained 188 kobo to close at N39.48 while Nigerian Bottling Company Plc (NBC) garnered 111 kobo to close at N23.38 per share. Nestle Nigeria Plc led those that drifted in the red in term of its share price dipping by 739 kobo to close at N211.01 per share. Mobil Oil Nigeria Plc depreciated by 498 kobo to close at N94.77 per share while Chevron Oil Nigeria Plc was down by 349 kobo to close at N66.47 per share. A total of 536.37 million units of shares worth N4.02 billion were traded in 6,731 deals compared to a total of 542.82 million units of shares valued at N4.49 billion which were wraped up in 6,901 deals the previous day.

Labour

Test 2

Published

7 hours ago

July 21, 2026

TheTideAdmin

Testing the server

Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

3 weeks ago

July 3, 2026

The Tide

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and environmental crisis that has forced residents to abandon their homes.

The first incident occurred along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.

This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.

In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.

According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.

Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.

The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.

“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.

The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.

The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.

The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.

Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent loss of lives and environmental damage.

Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.

Enoch Epelle

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

3 weeks ago

July 3, 2026

The Tide

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.

Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.

The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.

The exercise is expected to reach more than 60,000 regular undergraduate students.

Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.

He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.

According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.

He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.

The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.

Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.

Nkpemenyie Mcdominic, Lagos