Business

Bears Dominate NSE Market

Published

13 years ago

June 19, 2013

The bears took dominance of the equity Market of the Nigerian Stock Exchange (NSE) for three days running last week as the twin market indicators finished on negative notes.

Specifically the All Share Index (ASI), the main index at the Nigerian bourse nose dired by 5.85 per cent from its recent high of 40,012.66 basis points on Tuesday of the week under review to close at 37,249.93 points.

The aggregate market capitalisation of listed equities lost N888 billion to close the week at N11.967 trillion, having peaked at N12.855 trillion on Tuesady of the review week.

Market analysts have attributed the decline to profit-taking transactions on highly capitalised stocks such as the consumer goods and industrial stocks.

According to the NSE weekly report, the bearish trend also reflected in all other NSE indices. The NSE 30 Index, the indicator for measuring 30 most capitalised companies on the Exchange fell by 5.86 per cent even as the NSE Consumer Goods Index plunged by 7.05 per cent. The NSE Banking Index fell by 7.23 percent while Insurnace Index shed 2.87 percent.

The NSE Oil and Gas Index dropped 5.82 percent just as the NSE Industrial Goods Index went down by 6.59 percent.

It would be recalled that since the beginning of the year the Equities market has been on the upbeat which has resulted in the NASI having a sustained seven straight weeks gains. The market capitalisation added N2.165 trillion pegging at N12.766 trillion as against its 2008 peak level of N12.640 trillion.

The total market volume stood at 3.725 billion units of shares valued at N75.874 billion exchanged by investors in 39,060 deals at the close of trading last week in comparism with a total of 1.917 billion units of shares worth N25.133 billion exchanged in 32,368 transactions the previous week.

Transactions in the shares of Transnational Corporation of Nigeria Plc, IAS Plc and Dangote Cement Plc accounted for 1.35 billion shares valued at N48.72 billion traded in 1,692 deals contributing 36.19 per cent, 64.22 per cent and 4.33 per cent to the overall equity turnover volume, value and deals respectively.

On sectorial basis, during the review week the financial service sector lead the activity chart recording a traded volume of 1.702 billion units of shares valued at N14.698 billion in 19,826 transactions representing 45.68 per cent, 19.37 per cent and 50.76 per cent of the total traded volume, value and deals respectively.

It was followed by the conglomerates sector with a turnover of 597.153 million units of shares worth N1.052 billion exchanged in 1,410 deals indicating 16.03 percent, 1.39 percent and 3.61 per cent of the total equity turnover volume, value and deals respectively during the week.

The ICT sector emerged third on the week’s activity chart recording a turnover volume of 516.087 million units of shares traded at N1.007 billion in 264 transactions.

The week under review opened with 34 stocks recording price appreciation on Monday while 22 Stocks recorded some level of price erosion even as the price of 56 remained flat.

On second trading day of the review week out of 127 stocks that were traded, 50 recorded value addition while the price of 17 nose dived and 60 remained unchanged.

The third day saw 122 stocks taking part in the market transactions, from which 32 appreciated in value, 36 plunged while 44 remained flat.

On the fourth trading day, 126 stocks partook in the trading activities, just a as a handful of 15 stocks managed to rise in value while 57 stocks eroded in value and 54 remained flat.

A total of 120 stocks were transacted on the last trading day of the week with only 22 recording gains; 66 were flat in price while 32 shed their value.

In all 34 equities added value during the week under review down from the 58 that appreciated the previous week.

Berger Paints Plc led the top 10 gainers’ table with N1.92 price addition having opened at N9.46 to close at N11.38 per share.

The Forte Oil Plc emerged second on the week’s top 10 price gainers’ table with N1.61 price addition to finish at N17.01 from an opening price of N15.40 per share.

Academy Press Plc came third having added 70 kobo to its opening price of N1.75 to close the week at N2.45 per share.

Also on the week’s top 10 gainers’ chart were Paints and Coatings Manufacturers Plc 45 kobo, Neimeth International Pharmaceuticals Plc 40 kobo, Vitaform Nigeria Plc 61 kobo, IPWA Plc 8 kobo , Cutix Plc 25 kobo, Evans medical Plc 31kobo and Champion Breweries Plc 48 kobo.

On the flipside, Nigerian Breweries Plc led the top 10 stocks that finished in the red during the week with N20.49 price depreciation having opened at N178 per share to close at N157.51.

PZ Cussons Nigeria Plc emerged the week’s second highest loser having plunged by N7.98 from an opening price of N52.98 to close at N45 per share.

The third on the losers’ chart was Guaranty Trust Bank Plc which lost N3.29 to drop at N24.91 from an opening price of N28.20 per share.

Others were Portland Paints & Products Nigeria Plc which lost 82 kobo, Eterna Plc 66 kobo, Oando Plc N2.32, Ikeja Hotel Plc 12 kobo, Livestock Feeds Plc 69 kobo, Transnational Corporation of Nigeria Plc 15 kobo and Custodian and Allied Insurance Plc 19 kobo.

The week saw 1,770 units of federal Government of Nigeria (FGN) bond being traded at the value of N194,830 in 15 deals as against 1,100 units worth N123,765 recorded in 7 transactions the previous week.

A breakdown shows that 1,270 units of 15.10 per cent FGN April 2017 bond were traded in 11 deals at N136,595 while 400 units of 16,00 percent FGN June 2019 bond were exchanged in three transactions at the value of N45,485. Hundred units of 16.39 per cent FGN January 2022 bond were sold at N12,750 in one trade.

Business

Nigeria’s Inflation Drops to 15.06%

Published

23 hours ago

March 23, 2026

The Tide

Three States Record Lowest rates Published 16 Mar 2026 By Dave Ibemere 3 min read The NBS has revealed that inflation rates dropped again in February 2026 The bureau noted that both headline and food inflation eased on a year-on-year basis Inflation was lowest in Katsina, Imo, and Ebonyi, while the highest was recorded in Kogi.

Nigerian economy, the stock market, and broader market trends. The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate slowed further in February 2026. According to the bureau in its latest CPI report, the headline inflation dropped slightly to 15.06% from 15.10% in January 2026. Nigeria’s inflation eases to 15%, offering relief to households. It was 11.21 percentage points lower than the 26.27% recorded in February 2025. From breaking news to viral moments. On a month-on-month basis, inflation stood at 2.01% in February, up from -2.88% in January, showing that prices rose at a faster pace than the previous month. Nigerian stock market records weekly gain as turnover hits N164.8billion Urban vs Rural Inflation NBS noted that urban inflation stood at 15.53% year-on-year, down from 28.49% in February 2025, while rural inflation was 13.93%, compared with 22.73% in the same period last year. Every month, urban inflation rose to 2.55% in February from 2.72% in January, while rural inflation eased to 0.71% from -3.29%. Food Inflation Food inflation dropped to 12.12% year-on-year in February, down sharply from 26.98% in February 2025. Monthly, food prices rose by 4.69%, higher than the -6.02% recorded in January. The NBS attributed the moderation to slower price increases in staples such as beans, cassava tuber, yam flour, crayfish, millet flour, cowpeas, and okazi leaf. The twelve-month average for food inflation was 19.08%, compared with 37.40% in February 2025. States breakdown for All Items The states with the highest all-items inflation rates were: Kogi (23.57%) Benue (22.85%) Anambra (22.09%) The lowest rates were recorded in: READ ALSO Naira appreciates by N27 against US dollar as external reserves cross $50bn Katsina (7.78%) Imo (11.66%) Ebonyi (11.71%) On a month-on-month basis, the highest increases were in Enugu (5.92%), Ogun (4.39%), and Anambra (4.11%), while declines were seen in Zamfara (-2.14%), Bauchi (-1.23%), and Katsina (-1.06%). Food staples contribute less to inflation as prices moderate in February. Photo: Bloomberg Source: Getty Images State Breakdown for Food Inflation Food inflation was highest in: Kogi (26.91%) Adamawa (23.12%) Benue (21.89%) The lowest food inflation rates were seen in: Katsina (5.09%) Bauchi (7.09%) Imo (7.65%) Month-on-Month Food Inflation The states with the highest month-on-month increases in food inflation were: Bayelsa (8.81%) Ebonyi (8.51%) Edo (7.72%) The states that recorded declines were: Katsina (-0.70%) Nasarawa (0.17%) Kano (1.39%) Food price changes across markets in Nigeria Earlier, The Tide source reported that due to Ramadan, staple food prices across the country are recording sharp increases as Muslims begin the Ramadan fasting season Ramadan is not only a period of abstinence from food and drink, but also a time for ‘reflection, discipline and heightened devotion’ Several traders in Abuja, Taraba, and Kaduna states are taking advantage and have hiked price. The NBS has revealed that inflation rates dropped again in February 2026 The bureau noted that both headline and food inflation eased on a year-on-year basis Inflation was lowest in Katsina, Imo, and Ebonyi, while the highest was recorded in Kogi.

Business

NDCCTMA, NDDC MDS Challenge Niger Delta Indigenes On Investment In The Region

Published

23 hours ago

March 23, 2026

The Tide

The Nigeria Delta Chamber of Commerce, Trade, Mines and Agriculture (NDCCTMA), and the Niger Delta Development Commission ( NDDC ) have challenged Niger Delta entrepreneurs to close the gap in Gross Domestic Products (GDP) differences between the region and that of the South Western part of the country by coming home to invest.

The bodies made the call at a Business Round Table organized by NDDCTMA, in Port Harcourt.

Chairman of NDDCTMA, Ambassador Idaere Gogo Ogan, said to close the gap between the south west region which he said has a GDP seize of about #59 trillion and that of the Niger Delta which is about #34 trillion was to massively invest in the region.

He said no other persons can do this except sons and daughters from the region.

“For me I believe in statistics,I believe in data and everyday I looked at the data concerning development in Nigeria and from the GDP point of view, the South West has #59 trillion, that is the seize of the south west region economy, the second region following them is the Niger Delta region with GDP seize of #34 trillion,so there is a yearning gap of #25 trillion that separates the south west and the Niger Delta region, that is why we are here.”

Ogan said the region has the capacity to close the gap and even surpassed it but regretted that indigenes of the region have chosen to ignore it in terms of investment.

“We need to close that gap .If we close that gap and even surpassed it,all the negative problems of militancy and unemployment will automatically erase”, he stated.

Ogan noted that the event was organized to remind the people that past efforts of militancy and agitations have not led the region to any where saying “that is why we are gathered here in this room”.

Also speaking, the Managing Director/Chief Executive Officer, NDDC, Dr Samuel Ogbuku urged indigenes of the region not to use the problem of insecurity as an excuse to continue to deny the region of investment as every part of the country have in one time or the other experienced crisis.

Ogbuku said most indigenes have displayed high level of unpatriotism towards the region by taking investments that would have benefited the people to either Lagos or Abuja.

“With little threat we have left the city, we have gone to Lagos,we have moved our families to Abuja and Lagos. If you go round GRA all the property, you will see,”to let to let”most of them are now empty “he said.

The NDDC MD said despite the fact that people from the region are doing well in the oil and gas, banking and other sectors, its impact are not being felt at home because they are stationed outside the region.

By; John Bibor

Business

Cash Handouts Unproductive For Sustainable Agricultural Development – Engineer Kii

Published

23 hours ago

March 23, 2026

The Tide

Rivers State by its natural disposition is gifted with strategic economic advantage, particularly in agricultural potentials and fortunes. This informs successive governments’ interest in developing the agricultural sector, such as the School to Land Program, the Shongai Project, among several others.

The objective is to engender and leverage the sector beyond mere subsistence practices into a full thriving economy, with the engagement and involvement of the youthful and productive population.

The Farm to Future Agro Based Training for Rivers youths by the present administration is notably one of the most pragmatic efforts of the Rivers State Government to engage the prospective creative capital of both the natural and human resources in the agricultural sector for sustainable development.

The concept, premised on the imperative of maximizing the huge agrarian prowess of the state, targets creation of sustainable livelihood for the teeming youth of the state. The project is also intended to achieve the chore needs of food sufficiency and job creation in the state.

This implies a significant deviation from the acculturised norm of expectations of financial benefits as the outcome of government programs and policies.

The tenets of the program are expressly difined in concept and practice as shown in the phases of its execution.

However, some beneficiaries of the project recently staged a protest, allegdging unpaid largesse, diversion of funds and perceived slighting by the Rivers State Ministry of agriculture. The said protest has stirred up concerns among stakeholders about how people view government policies.

Many see the protest as an attempt to create tension around the program and sabotage its original objectives.

Stakeholders and commentators are of the view that the Rivers State is in dire need of development in every critical sector, as such the Ministry of Agriculture and its partners should be given the benefit of the doubt to implement the project to its logical conclusion without being hauled with accusations.

The former Commissioner for Agriculture, Engineer Victor Kii who was at the fore of driving the program has in a press statement debunked the allegations and sued for calm, restraint and understanding. Engineer Kii assured the participants that the empowerment phase will be implemented as soon as administrative normalcy is restored.

He commended the participants for their commitment and discipline during the training and urged them to uphold the norms of the program rather than misrepresenting its intentions.

Some pundits who commented on the recent development decried the fact that many people still hold on to the notion that incentives billed to create sustainable impact through skills based programs, should be given out as largess, without adroit supervision of its utility function. This practice has however created a culture of economic doldrum, dependency and servitude in the past.

Thus the idea of seen the Rivers Farm to Future project as a mere quixotic experiment for cash benefits without achieving set goals is counter productive. Such opportunistic thinking have stunted government efforts over the years in achieving long term objectives of development.

As disclosed by the former commissioner for Agriculture in his detailed explanation, the Farm to Future project was strategically designed to address this culpable deficit in institutional planning and consolidation of results.

The former commissioner gave an explicit description of the nexus of operation of the program.

As revealed by him; ” The program is a strategic intervention to equip young people in Rivers with practical skills and to nurture a new generation of agricultural entrepreneurs. 500 beneficiaries received intensive agri business training in the first phase.”

He pointed out that the program was conceived and designed in line with global best practices which de emphasizes indiscriminate cash handouts for beneficiaries. Rather it promotes practical engagements in agricultural activities and business initiatives.

At the end of the training in February, beneficiaries were encouraged either individually or in cooperative clusters to identify value chain for establishment of viable businesses.

They were also asked to produce structured business proposals for perusal and review by the ministry of agriculture and appointed consultants, after which successful proposals would be forwarded to the Bank of Agriculture with Rivers State Government providing guarantees.

The strategies for implementation include field inspections and evaluation for beneficiaries who had already commenced practical activities in identified locations.

The approach was to discourage the commonplace ideology of diverting funds meant for specific projects for unrelated purposes, thereby undermining the conscious exploration of creative potentials into long term benefits.

The process was however temporary interrupted by the dissolution of the Rivers State Executive Council and the ongoing renovation of the Rivers State Secretariat complex but the profound optimism and positive expectations that are the hallmark of the project remains sacrosanct.

Engineer Kii assures.

By: Beemene Taneh