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NSE Market Capitalisation Hits N10trn Mark

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8 years ago

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The market capitalisation of the Nigerian Stock Exchange (NSE), rose by N206 billion to hit the N10 trillion market for the first time in 2017.
The Tide source reports that trading closed higher at N10.047 trillion against N9.841 trillion recorded on Wednesday.
Our source further gathered that the All-Share Index inched 602.91points or 2.12 per cent to close at 29,064.52 compared with 28,461.61 posted on Thursday, due to price gains.
The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, attributed the growth to the economy recovery and foreign exchange liquidity.
Omordion stated that contraction of the Gross Domestic Product (GDP) by 0.52 per cent in the first quarter of 2017 from 1.77 per cent posted in the fourth quarter of 2016 contributed to the investors’ confidence.
He said the figure showed that the country’s recession was gradually coming to an end.
Dangote Cement led the gainers’ table, growing by N3.80 to N166.80 per share.
Okomuoil followed with a gain of N2.09 to close at N52.99 and Guaranty Trust Bank added N1.68 to close at N35.28 per share.
Flour Mills Nigeria increased by 96k to close at N20.23 per share.
Conversely, Mobil Oil topped the losers’ chart, dropping by N14.98 to close at N234.65 per share.
Cadbury trailed with a loss of 48k to close at N9.42 and Unilever was down by 25k to close at N35.75 per share.
NASCON declined by 20k to close at N8.50, while NAHCO depreciated by 15k to close at N2.89 per share.
Also, the volume of shares traded closed higher with a turnover of 725.54 million shares valued at N5.72 billion exchanged in 4,435 deals.
This was in contrast with 418.94 million shares worth N4.96 billion traded in 3,944 deals on Thursday.
The banking stocks remained the toast of investors with Diamond Bank emerging the most traded, accounting for 204.12 million shares valued at N187.82 million.
Access Bank came second with an exchange of 144.73 million shares worth N1.09 billion and Guaranty Trust Bank sold 59.25 million shares valued at N2.08 million.
United Bank for Africa traded 51.26 million shares worth N383.72 million, while Zenith Bank accounted for 44.33 million shares valued at N841.50 million.

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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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