Business
Stocks Slide Further At Exchange
The performance of traded equities at the Nigerian Stock Exchange (NSE) has once again become scary as the gains of the week’s opening continued to slide on Tuesday and Wednesday.
At the end of trading on Wednesday, all the market indicators crashed out, leaving investors’ stake in red.
Specifically, market closed lower at 23,808.68 points, shedding 54.59 points or 0.23 per cent from 23,863.27 points traded on Tuesday which was also on a bearish note.
Market capitalisation of traded shares lost N17.46 billion, from N7.633 trillion traded on Tuesday, to close at N7.616 trillion.
Investors’ 167.725,728 shares, worth N1.48 billion, exchanged hands in 4,721 deals, as against 500,273,171 shares, valued at N2.734 billion, which were traded in 5,282 deals.
The volume of traded equities crashed by 66.5 percent or 332,547,443 shares, from 500,273,171 shares traded by investors on Tuesday, to close lower at 167,725,728 shares.
Also, share value lost N1.251 billion or 45.8 per cent, from N2.734 billion traded on Tuesday, to close lower at N1.483 billion.
A total of 116 companies traded at the exchange, as against 123 companies that did transactions at the floor of NSE on Tuesday.
Out of the 116 companies, 21 companies made gains in their trading, 22 companies lost, while the prices of shares of 73 companies remained unchanged.
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FCTA, Others Chart Path To Organic Agriculture Practices
The Federal Capital Territory Administration (FCTA) and other stakeholders have charted path to improved organic agriculture practices nationwide.
At a 2024 national organic and agroecology business summit held recently in Abuja, stakeholders took turn to speak on the additional areas of promoting the practices.
The Mandate Secretary, FCT Agriculture and Rural Development Secretariat (ARDS), Lawan Geidam, advocated for sustainable practice to develop resilient food systems that will benefit people.
The event, with the theme,”Towards Policies for Upscaling Organic Agroecological Businesses in Nigeria”, is aimed at fostering growth in the organic agriculture sector.
Geidam, who was represented by the Acting Director, Agric Services, in the Secretariat, Mr. Ofili Bennett, emphasised the success of organic and agroecological farming, reling on the active involvement of farmers, businesses and consumers.
He reassured attendees that the FCT Administration, led by the Minister, Nyesom Wike, and Minister of State, Dr. Mariya Mahmoud, remains dedicated to supporting initiatives that enhance the livelihood of residents.
Geidam described the partnership between the Secretariat and the organic and Agroecology initiative for a monthly exhibition and sale of organic products in the FCTA premises as a testament to this commitment.
“The ARDS remains committed to driving policies and initiatives that align with national goals and global standards”, Geidam said.
On her part, the Chairperson of Organic and Agroecology Initiative, Mrs. Janet Igho, urged residents to embrace healthy eating habits to sustain a good lifestyle. She stressed the importance of adopting organic practices, highlighting the benefits of going organic, growing organic and consuming organic products.
Igho expressed her optimism regarding the Agricultural Revival Programmes as articulated in President Bola Ahmed Tinubu’s “Renewed Hope Agenda”, which aims at fostering food and nutrition security.
She also extended her gratitude to ARDS for graciously allocating a space in the FCTA premises for the exhibition and sale of organic products, noting that the platform has been effectively used to advance the promotion of organic agriculture in FCT.
Igho outlined several benefits of organic agriculture which includes improved soil health, increased biodiversity, availability nutritious and healthy food and a reduced carbon footprint.
Stakeholders at the summit, underscored the critical need for enhanced private sector involvement and robust capacity building initiatives for farmers.
They highlighted the importance of implementing supportive policies to foster the growth of the organic agriculture sector.
In the light of the significant challenges facing Nigeria’s agricultural landscape, stakeholders decided that organic agricultural practices present sustainable solutions and a pathway for a more resilient and productive farming systems.
The three-day summit featured exhibitions showcasing organic foods, fruits, vegetables and fertilizers, providing an opportunity for residents to better appreciate the benefits of production and consumption of organic agricultural products.
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