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Analyst Predicts Stock Price Volatility

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A capital market analyst, Mr Ambrose Omordion last Monday predicted that the Nigerian Stock Exchange (NSE) would likely experience price volatility this week due to profit taking.
Omordion, the Chief Operating Officer, InvestData Ltd, expressed this view in an interview with newsmen in Lagos.
According to him, the market is likely to witness panic selling and re-positioning ahead of the earnings reporting season.
He said that investors would embark on profit taking to take advantage of 10.21 per cent growth recorded by the market last week.
The market analyst said that the nation’s December inflation figure, expected to be released within the week by the National Bureau of Statistics (NBS), would also determine the market trend.
Omordion, however, urged investors not to be sentimental in their investment decisions while re-positioning for the rest of the year.
He said that investors should make use of numbers released in the market to guide their investment decisions.
The analyst attributed the market’s 10.21 per cent growth last week to low valuation and “high upside potentialities as many stocks were selling below their 2014 prices in spite of improved earnings and returns.”
He said that the bullish sentiment was due to early positioning by all-classes of market players in low, medium and highly capitalised stocks ahead of the earnings season.
Omordion said that the NSE All-Share Index Year-to-Date return stood at 12.17 per cent due to huge price rally.
The Tide reports that a total turnover of 5.02 billion shares worth N68.97 billion were traded by investors in 41,542 deals last week.
This was in contrast to 2.42 billion shares valued at N18.81 billion exchanged in 20,874 deals in the preceding week.
The Financial Services Industry (measured by volume) led the activity chart with 3.42 billion shares worth N31.65 billion traded in 24,375 deals.
The sector contributed 68.06 per cent and 45.89 per cent to the total equity turnover volume and value, respectively during the period.
The Conglomerates followed with 894.36 million shares worth N2.18 billion in 3,032 deals.
The third place was occupied by Consumer Goods Industry with turnover of 380.49 million shares valued at N26.24 billion in 7,408 deals.
NAN also reports that the index rose by 3,975.64 points or 10.21 per cent last week to close at 42,898.90, against 39,923.26 posted in the preceding week.
Similarly, the market capitalisation, which opened at N13.851 trillion, inched by N1.52 trillion to close at N15.368 trillion.
Honeywell Flour Mills led the price gainers’ table in percentage terms, growing by 39.68 per cent or N1 to close at N3.50 per share.
Skye Bank followed with a gain of 37.70 per cent or 23k to close at 84k, while Champion Breweries grew by 36.57 per cent or 79k to close at N2.95 per share.
On the other hand, DN Meyer topped the price losers’ table in percentage terms, declining by 2.86 per cent or 9k to close at 61k per share.
GlaxosmithKline Consumer trailed with a loss of 2.71 per cent or 60k to close at N21.50, while Dangote Sugar Refinery dropped by 2.65 per cent or 58k to close at 21.27 per share.

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Association Woos Govt, Coys On  Boat Operators  Employments

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2 days ago

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June 12, 2026

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The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
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FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

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2 days ago

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June 12, 2026

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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
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NIWA Harps On  Avoidance Of Leaking Boats

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2 days ago

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June 12, 2026

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The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
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