Business

Stock Market Indices Tilt Northward

Published

16 years ago

October 30, 2009

The Equity market of the Nigerian Stock Exchange (NSE) finished in the green last week with the key market indicators tilting in the north ward direction.
Specifically the all share index, the Nigerian Stock market benchmark index surged by 1.61 per cent to close at 22,653.17 basis points as against 22,293.53 basis points of the preceding week.
The market capitalisation of listed equities added about N200 billion to finish at N5.34 trillion as against N5.2 trillion recorded the previous week.
Market analysts had attributed the development to the ongoing banking reform carried out by the Central Bank of Nigeria (CBN) and the positive changes in the macroeconomic level of the country’s economy.
The NSE-30 index, a gauge for the stock performance of 30 largest companies in the market according to the NSE weekly report, rose by 2.6 per cent to close at 863.38 points.
The barometer for measuring the performance of food and beverage stocks, the NSE food and beverages index was up by 2.56 per cent to close at 475.40 points.
The NSE banking index, a gauge for banking stocks rose by 1.3 per cent to close at 371.93 points. While the NSE Oil and Gas index rose by 5.95 per cent to close at 308.51 points.
The NSE Insurance index, a gauge that measures performance of insurance stocks, however took a downward trend as it dropped by 1.95 per cent to close at 306.03 points.
Flour Mills of Nigeria Plc led the pack of 41 stocks that appreciated in price for the week with a gain of 603 Kobo to close at N29.03 per share while Oando traded with 579 Kobo gain to close at N93.99 per share.
Other price gainers in the top 10 category were African Petroleum Plc 535 Kobo, Mobil Oil Nigeria Plc 473 Kobo, UAC Nigeria Plc 430 Kobo, Nigerian Breweries Plc 350 Kobo, Nestle Nigeria Plc 299 Kobo, Lafarge Cement WAPCO 255 Kobo, Conoil Plc 141 Kobo and Guaranty Trust Bank Plc 135 Kobo.
On the flipside, Eterna Oil & Gas Plc led the pack of 55 stocks that drifted in the red in terms of their share prices dropping 120 Kobo to close at N11.20 per share while Nigerian Bottling Company Plc followed with 115 Kobo loss to close at N22.30 per share.
Other price drifters in the top 10 top bracket for the week include Seven Up Bottling Company Plc 92 Kobo, BOC Gases Plc 74 Kobo, FCMB Plc 64 Kobo, Spring Bank Plc 52 Kobo, African Alliance Insurance Plc 48 Kobo, RT Briscoe Plc 45 Kobo, Portland Points Plc 36 Kobo and Oceanic Bank International Plc 35 Kobo.

Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

Published

4 hours ago

March 2, 2026

The Tide

The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN), has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.

The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.

Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.

According to the Union chairman, the two union was not aware of the concession plans, and that there were no due process to the procedures.

Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.

Expressing the the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.

The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not reviewed upwards.

He describes the process to the procedures as fraud with intention to increase unemployment in the state.

“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.

“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.

“The process is fraud either on the part of individual in the Government, or Government itself.

” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy, we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.

The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.

When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu, she said the management has not given her the approval to say something.

Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

Published

4 hours ago

March 2, 2026

The Tide

The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.

This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire and made available to the Tide last Friday in Portharcourt.

According to the statement, Go-Cashless cards is at all FAAN commercial offices and access gates of Airports in the country .

The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.

FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.

FAAN reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.

FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.

The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.

By: Enoch Epelle

Business

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

Published

3 days 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