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Capital Market Indices Records 2.53 Percent Rise

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The Equity
Market of the Nigerian Stock Exchange (NSE) for the week ended July 19, 2013 finished on a bright note as the bulls maintained their grip on the market resulting to a straight-nine day-gaining streak.
This market upbeat was reflected in twin market indicators as both the composite index and the aggregate market capitalisation of listed equities surged by 2.53 per cent each.
In specific terms, the All Share Index (ASI) which opened the week at 37,382.49 basis points finished at 38,328.29 basis points even as the market capitalisation of listed equities firmed up by N299.53 billion to close the week at N12.138 trillion from an opening value of N11.83 trillion.
The week opened with the first trading day finishing on positive note as the market advanced by 0.90 per cent as the ASI closed at 37,720.78 basis points. The market index continued tilting southward on the second trading as it rose by 0.44 per cent even as it increased by 0.24 per cent the following day being Wednesday.
The market recorded the highest gain on Thursday with 0.95 per cent growth while it carved in marginally on Friday flaking 0.02 per cent.
The NSE 30 index which tracks 30 most capitalised stocks on the Nigerian bourse rose by 3.06 per cent to close the week at 1,812.57 points.
Also four of the NSE indices appreciated during the week with the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas and NSE –Lotus 11NSE advanced by 4.72 per cent, 1.27 per cent, 0.28 per cent, 9.37 per cent and 3.30 per cent respectively while NSE Industrial Goods and NSE Asem dropped by 0.45 per cent and 0.50 per cent in that order.
The NSE price movement chart had a total of 50 stocks which appreciated in their value up from 37 equities which recorded price appreciation the previous week.  Thirty-nine dipped in their prices compared with the 47 equities that depreciated last week.
Those whose value remained flat were 105 as against 110 equities that remained constant in their prices the previous week.
The top 10 gainers were Julius Berger Nigeria Plc N13.73, Seven-Up Bottling Company Plc N10.00 Forte Oil Plc N9.42, PZ Cussons Nigeria Plc N9.14, MRS Oil Nigeria Plc N6.28, /HS  Plc N1.20, Champion Breweries Plc N1.47, IPWA Plc 47 Kobo, UTC Nigeria Plc 14 Kobo and ABC Transport Plc 19 Kobo.
Conversely, the top 10 losers for the week were, Berger Paints Plc, N1.68, Points and coatings Manufacturers Plc 23 Kobo, Costain (WA) Plc 24 Kobo, Portland Paints and Products Nigeria Plc 80 Kobo, Trans-Nationwide Express Plc 27 Kobo, Jos International Breweries Plc 11 Kobo, Academy Press Plc, 20 Kobo, ARBICO Plc 62 Kobo, Nigerian-German Chemical Plc 81 Kobo, B.O.C. Gases Plc 73 Kobo and Pharma Deko Plc 20 Kobo.
A total market volume of 1.886 billion units of shares valued at N15.536 billion were recorded during the week under review in 28,619 transactions up from a total of 1.674 billion units of shares worth N18.266 billion exchanged by investors the previous week in 25,367 trades.
In volume terms, the financial service sector emerged first on the activity chart accounting for 763.653 million units of shares valued at N7.276 billion exchanging hands in 14,740 deals indicating 40.50 per cent, 46.83 per cent, 51.50 per cent of the overall equity turnover volume, value and deals.
It was followed by the conglomerates sector with a turnover volume of 704.825 million units of shares 704.825 million units of shares at the value of N1.137 billion recorded in 1,122 deals contributing 37.38 per cent, 7.32 per cent and 3.92 per cent to the total equity turnover volume, value and number of deals respectively.
With a turnover volume of 169.556 million units of shares worth N335.382 million recorded in 943 deals, the million recorded in 943 deals, the services sector emerged third on the week’s activity chart.
Trading in the shares of Transnational Corporation of Nigeria Plc (Transcorp), ABC Transport Plc and FBN Holdings Plc accounted for 900.568 million units of shares valued at N2.693 billion executed in 3,714 deals contributed to 47.76 per cent, 17.33 per cent and 12.98 per cent to the total equity turnover volume, value and deals in that order.
Meanwhile according to the National Bureau of Statistics (NBS) the drop in inflation rate last week shot pushed up the price of bond but the FGN bond reduced as bond yields and prices moved in the opposite direction.
The Nation’s Consumer Price Index (CPI) for June fell to 8.4 per cent compared to the 9 per cent it stood in May, the NBS stated.  It noted that core and food indices in June averaged 8.9 per cent and eight per cent respectively as against the 12.5 per cent and 14.1 per cent it attained the previous month.
The drop in inflation rate, according to NBS was due to “slower rise in all Classification of Individual Consumption According to Purpose (COICOP) classes except the food and non-alcoholic beverages class”.
The 4 per cent FGN April 2015 rose marginally as it closed at N85.96 as against N85.33 it sold the previous week while the 15.10 per cent FGN April 2017 paper closed at N105.70 last week from an opening price of N104.70 the preceeding week.     Also, the 10.70 per cent FGN May 2018 finished higher at N90.47 compared with an on-board price of N89.82.

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ECOWAS Parliament Adopts AI In Lawmaking

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The Economic Community of West African States (ECOWAS) Parliament says it will adopt Artificial Intelligence (AI) to enhance informed deliberation, optimised legislation, and strengthen parliamentary oversight.

The regional bloc made the remark recently at the Second 2025 Extraordinary Session which held in Port Harcourt.

The theme of the session was, “Harnessing Artificial Intelligence for Parliamentary Efficiency, Ethical Governance and Development in the ECOWAS Region.”

Fourth Deputy Speaker of the Parliament, Mr  Billay Tunkara, while closing the session on AI efficiency, said lawmakers would deploy appropriate tools to strengthen internal regulations.

He said the AI revolution was irreversible and had become a paradigm shift, redefining the region’s economies, societies and governance.

According to him, AI had moved from the realm of science fiction to a powerful global force driving major advances across sectors.

“Therefore, the use of AI in the ECOWQS Parliament will result to informed deliberation, optimised legislation and strengthened oversight.

“It offers us the means to make our work more efficient, transparent and closer to citizens’ expectations.

“So, it is up to us, parliamentarians to appropriate these tools, to train our collaborators and to adapt our internal regulations to accommodate this new intelligence”, he said.

Meanwhile, the Amanyanabo of Okochiri Kingdom in Rivers State, HRM King Ateke Tom, has pledged support for government efforts to sustain peace in the Niger Delta.

He gave the assurance when he received a delegation of the ECOWAS Parliament, led by its Speaker, Mrs. Hadja Ibrahima, at his palace in Okochiri, Okrika Local Government Area.

Tom, a former Niger Delta agitator, said he once took up arms to draw government’s attention to the plight of people in the oil-rich region.

“The agitation brought the Federal Government’s focus to our challenges.

“It was the agitation that created the opportunity for our people to be remembered, and for Goodluck Jonathan to become President”, he said.

He stated the struggle highlighted environmental degradation, poverty, and hardship endured by the Niger Delta people despite oil profits from the land.

The traditional ruler added that he later played a key role in disarming agitators and facilitating peace in the region.

“Today, the benefit of that peace is becoming evident”, he noted.

Tom urged the ECOWAS Parliament to use its platform to advocate for the development of the Niger Delta region.

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Youth Leader Lauds Tinubu, Over Ogoni oil Dispute

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The President-Genera (PG)l of Ogoni Youth Federation, Mr. Legborsi Yamaabana, has praised President Bola Tinubu’s administration for the effort to resolve the dispute that stalled oil exploration and production in Ogoni land.

The Tide’s source recalls that oil exploration and production were suspended in Ogoniland in the early 1990s with Shell forced out by 1993 due to persistent unrest by the locals’ spear-headed by the Movement for the Survival of Ogoni People (MOSOP).

The source further notes that the dispute involved the Federal Government, oil multinationals and Ogoni people.

Yamaabana in a statement issued to journalists by his Special Adviser on Media and Publicity, Mr. Hycienth Ana, in Port Harcourt, said Tinubu’s government had been able to resolve the dispute.

He described the ongoing peace process as sincere, timely, and commendable.

Yamaabana noted that the resolutions reached hold great promise for addressing the longstanding challenges of poverty and unemployment in Ogoniland.

The PG, a former Federal House of Representatives aspirant for Khana/Gokana Federal Constituency, used the medium to commend Tinubu for the national honours to the “Ogoni four.”

“President Tinubu’s extension of recognition to these Ogoni thirteen is a long-awaited gesture of justice and inclusivity”, he said.

He further applauded the President for bestowing a national honour on renowned Ogoni rights activist, Mr. Ledum Mitee, describing the recognition as a befitting tribute to his contributions to the struggle for justice and equity.

Yamaabana said resuming oil operations in Ogoniland with fairness and environmental responsibility would be a landmark achievement for Tinubu’s government in Nigeria’s socio-economic history.

He also commended the National Security Adviser, Nuhu Ribadu, Rivers Governor, Siminalayi Fubara, and the Ogoni Dialogue Committee led by Prof. Don Baridam, for their roles in facilitating the dialogue.

The Ogoni youth leader reaffirmed commitment to supporting the federal government’s initiatives for economic growth and sustainable development in the area.

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IAUE Emerges Winner Of National Campus Debate, 2025

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Ignatius Ajuru University of Education (IAUE) Rumuolumeni, Rivers State, has been declared the state winner of the ongoing National Campus Debate 2025.

Following this victory, IAUE will represent Rivers State at the zonal face-to-face debate competition, scheduled to take place from September 15 to 22, 2025.

The Director General of the National Orientation Agency, Mallam Lanre Issa Onilu, congratulated IAUE on its achievement and wished the university continued brilliance in the next phase of the competition.

A statement from the institution’s Public Relations Office said the debate competition, which focuses on the topic “Unity in Diversity: Designing National Identity in Nigeria’s Multicultural Society”, aims to strengthen youth engagement, promote education, and foster national values and dialogue among students.

The competition offers significant rewards, with the national winner set to receive ?50 million, while the first and second runners-up will take home ?30 million and ?20 million respectively.

According to the statement, the Dean, Faculty of Humanities, Professor Ibiere Ken-Maduako,  and the Coordinator of IAUE Debate Council, who is also the Director, Ideas, Creativity, and Innovation, Professor Samuel Amaele, trained the team that made the University proud.

It furrher stated that the university’s achievement reflects its commitment to intellectual excellence, civic engagement, and nation-building.

By: Sogbeba Dokubo

 

 

 

 

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