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NSE Investors’ Net Worth Rises By 6.19%

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12 years ago

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Investors’ net worth on the Nigerian Stock Exchange appreciated by 6.19 per cent in the month of December from the 3.45 per cent achieved in November.

Reports say that official statistics provided by NSE showed that the All-Share Index rose by 2408.34 points to close the year at 41,329.19 from the 38,920.85 achieved in November.

The market capitalisation grew by N778 billion to close at N13.226 trillion compared with N12.448 trillion recorded in November.

The volume of shares traded also grew by 5.57 per cent with 10.04 billion shares worth N71.12 billion traded in 90,765 deals.

This was against the 9.51 billion shares worth N95.40 billion traded in 104,233 deals in November.

The financial services sector emerged the toast of investors in December with 6.99 billion shares worth N26.1 billion traded in 45,560 deals.

Some stakeholders attributed the steady growth of the market, in spite of the festive period, to renewed confidence of foreign and local investors in the market.

In separate interviews in Lagos  foreign investors’ increased exposure to emerging markets contributed to the growth.

The immediate past President, Association of Stockbroking Houses of Nigeria, Alhaji Rasheed Yussuf said that the growth in economies in the West rubbed off on the nation.

He said that the market performance in 2013 had reinvigorated investors’ expectations in 2014.

Yussuf said that investors’ growing stake in the market was in anticipation of enhanced dividend in the financial year ended December 31, 2013.

He said that investors based their stakes on current performance of stocks and not on speculation.

Yussuf said also that investors, who exited the market during the 2008 financial meltdown, were finding their way back due to the sustained growth.

He said that there was the need for listing of new issues to avoid over pricing of stocks and avert the bubble burst experienced in 2008.

“The market regulators should encourage listing of new issues in the market to minimise pursuit of few stocks by investors with surplus funds,” Yussuf said.

The Managing Director, Global View Consult & Investment Ltd., Mr Olaleye Williams, said that the initiatives introduced by the market regulators to enhance investor confidence led to the growth witnessed during the period.

Williams said that the new trading platform offered opportunities for better appraisal of the potential of the market.

He expressed optimism that the current growth would be sustained in January as investors strategised ahead of the release of companies’ financial results for 2013.

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Kenyan Runners Dominate Berlin Marathons

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2 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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2 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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2 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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