Rivers
Capital Market Indices Records 2.53 Percent Rise
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.
Rivers
FTAN Marks Tourism Day With March, Awards
The Rivers State Chapter of the Federation of Tourism Associations of Nigeria (FTAN) joined the global community to celebrate the 2025 World Tourism Day with a march through the streets of Port Harcourt, recently.
They used the opportunity to welcome the State Governor, Sir Siminalayi Fubara, his Deputy and members of the Rivers State House of Assembly.
The celebration themed “Tourism and Peace: Pathway to Sustainable Transformation,” underscored the strategic role of tourism in economic growth and social development.
Speaking at the event, the Rivers State FTAN Coordinator, Mr. Iminabo Princewill, reaffirmed the association’s readiness to collaborate with the State Government to expand the economic impact of tourism in the State.
“This year’s theme highlights how sustainable tourism can transform societies. FTAN is prepared to partner with the Rivers State Government to create long-term, impactful initiatives that will not only attract visitors, but also generate employment and preserve our cultural heritage”, Princewill said.
Highlight of the day’s event included a guided tour of SaveALife Mission Hospital, a world-class medical facility in Port Harcourt recognised for its excellence in medical tourism, which showcases Rivers State as a growing hub for healthcare-driven tourism in Nigeria and West Africa.
FTAN also presented special awards to distinguished individuals and institutions for their contributions to tourism development.
Among those awarded are the State Governor, Sir Siminalayi Fubara, who received the prestigious award of “Most Tourism-Friendly Governor.”
Governor Fubara was applauded for his administration’s commitment to infrastructure development, cultural heritage promotion, and investor-friendly policies that enhance the tourism sector in the State.
In their various responses, the awardees expressed gratitude for the recognition accorded them, and pledged their continuous support for tourism-related projects, noting that the sector remains key to diversifying the state’s economy beyond oil and gas.
The event drew stakeholders from the hospitality industry, travel operators, cultural promoters and health tourism promoters, who were all united in showcasing Rivers State’s immense potential as a premier destination for leisure, business, and medical tourism in Nigeria.
By; Soibi Max-Alalibo
Rivers
PHCCIMA, Others Laud ‘Made In Nigeria Conferences, Exhibitions’ Organisers

The Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) and other stakeholders have praised the organisers of the “Made in Nigeria Conferences and Exhibitions” for their efforts and consistency in boosting the Small and Medium Enterprise (SMES) in Nigeria, as well as patronages of Nigerian Made Goods.
President of the PHCCIMA, Dr. Chinyere Woka, said this during the opening ceremony of the 15 edition of the “Made in Nigeria Conferences and Exhibitions” in Port Harcourt, stated that for 15 years the event has not only boosted the development of the SMEs sector in the country, but also encouraged young people to become enterpreneurs.
Woka, who was represented by Surveyor Emmanuel Ogbonda, particularly praised the convener of the conference, Mr. Uche Onochie, for his consistency within the past 15 years.
He said the annual conferences and exhibitions have not only showcased Nigerian products to the world, but also boosted patronage.
The PHCCIMA President also described the Small and Medium Enterprise as the pillar of economic development, stressing that the solution to the development of the Nigerian economy lies in the hands of the common people.
She also urged young people to embrace farming, saying it is the only way to go, especially in Africa and Nigeria.
Meanwhile, leaders at the conference are canvassing for investment in smart agriculture in order to attract young people.
They also called on young people to embrace farming and agriculture, saying the future of Nigeria and Africa as a whole depends on farming.
They said, “mass investment in agriculture by youths will make food available and cheaper.”
The leaders also stressed the need for Nigerians to patronise made in Nigeria goods instead of depending on foreign made goods.
While declaring the conference open, it’s convener, Mr. Uche Onochie, said the future of Africa lies on smart farming and agriculture.
He said technology-driven agriculture will make farming appealing to the younger generation, describing farming as the future of Nigeria and Africa.
According to him, “technology will make food cheaper as well as help farmers to deal with less stress”, adding that “time has come for farmers to embrace technology to improve their farming.”
Onochie, who assured farmers at the event that the conference will amplify their voices, assured them of support.
He also stressed the need for young people to look inward into agriculture, and the need for investment in storage system, manpower development, and digital marketing of agricultural products.
According ro him, the theme for the conference, “Future of Technology and Agriculture”, will run for the next five years.
He also stressed the need for Nigerians to patronize made in Nigeria goods.
Also speaking, the Permanent Secretary, Rivers State Ministry of Agriculture, Mr. Maurice Ogolo, said his ministry is taking the issue of agriculture seriously, and encouraged young people to go into farming.
Other dignitaries at the event also called for introduction of technology into farming, saying that “without mechanisation of agriculture, the nation (Nigeria) will continue to experience food shortages.”
By: John Bibor, Birane Progress, & Igwe Fortune
Rivers
Eight Young Nigerian Entrepreneurs Win N2.4m In Youth Enterprise Challenge
Eight young Nigerian Entrepreneurs have won N2.4 million in a Youth Sustainable Enterprise Challenge competition.
The event, which held in Rivers State, was funded by the British Council in partnership with King’s Trust International, and delivered by Entrepreneurial Development Initiative (ENDIP).
The award of N2.4 million in seed funding was to eight young entrepreneurs in Rivers State under the Youth Sustainable Enterprise Challenge Programme (YSECP).
YSECP supports young Nigerians to develop sustainable businesses, build entrepreneurial skills, and contribute to local economic growth.
Each winner received ¦ 300,000 to scale their business ideas following a competitive pitch process.
In her welcome address, the Executive Director, ENDIP, Mrs. Lilian Ari, said the organisation has in the past 25 years stayed true to its vision of developing 10,000 enterprises capable of generating 30,000 jobs in the country by 2030.
“Our mission has been simple but powerful: to give young people the tools, training, mentorship, finance and network they need to turn ideas into thriving businesses.
“From vocational skills to business incubation, from micro credit to venture equity, we have walked this journey with thousands of young people and today we celebrate the next generation of change makers”, Mrs. Ari said.
She also stressed the need for multinational corporations operating in the region, including oil companies, Banks and others, to develop the entrepreneurial skills of the youth.
The Tide learnt that each of the eight winners will get a sum of N300,000 each.
Speaking with newsmen, the Director Programmes, British Council, Mr. Chikodi Onyemerela, said the organisation in conjunction with the King’s Trust International has been making efforts to develop the entrepreneurial skills of young Nigerians.
He said the programme was to create opportunities for the participants to develop skills that will be useful to them.
Onyemerela, who described Nigeria as a vast country with unlimited resources, also stressed the need for corporate organisations and governments to invest in skills development of young people in the country.
He said by doing this, insecurity and other social vices will be checked in the country.
He also urged the beneficiaries to make the best use of the opportunities to improve themselves and the society.
Onyemerela, who was the guest of honour at the occasion, noted that the British Council has organised similar programmes in Enugu, Abuja, Lagos, Owerri, and other parts of the country.
According to him, the participants will be assisted through mentoring and other support programmes to enable them nurture their skills.
Speaking with newsmen, the Chairman, Joint Association of Persons With Disabilities, Enugu State Chapter, Mr. Onyebuchi Mba, said majority of the members of the Association in Enugu State have benefited from the programme, adding that it was the reason he was in Port Harcourt to show solidarity with them.
He said partnership between the British Council, King’s Trust International, and ENDIP has established a sustainable development ideology that should be appreciated by all concerned.
Also speaking, some of the participants and winners of the final business pitch and grant awards, expressed excitement over the programme and pledged to make judicious use of their money.
By; John Bibor
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