Business
NSE Operators Blame Low Patronage On Economic Uncertainties
Capital market operators have attributed low liquidity, poor volume and apathy in the Nigerian Stock Exchange (NSE) to uncertainties in the nation’s economy.
They told newsmen in Lagos on Monday that economic uncertainties occasioned by non-passage of the 2017 Budget were affecting investors’ confidence in the market.
The immediate past President, Association of Stockbroking Houses of Nigeria (ASHON), Mr Emeka Madubuike, said that the stock market performance was a reflection of the nation’s economy.
Madubuike advised the Federal Government to address the defects in the economy to enable the market to move forward.
He said that uncertainties in the economy were negatively affecting the market, resulting in low volumes due to loss of confidence.
Madubuike said that non-passage of the 2017 Budget was also affecting the economy.
”Nobody knows the direction of the economy,” he said, expressing dissatisfaction that the National Assembly had yet to pass the budget.
“Budgets are estimates; I wonder why there should be politics in passing a budget. Why should a budget take four months to be passed? “he asked.
Madubuike said that the government should urgently map out strategies to ensure refining of crude oil in the country to avoid payment of subsidies.
He said that the economy might not experience any meaningful development without the utilisation of the capital market for infrastructural development.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
