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NSE Market Capitalisation Sheds N239bn

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7 years ago

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Trading on the Nigerian Stock Exchange (NSE) maintained a negative trend, with the market capitalisation shedding N239 billion, mixed sentiments ahead of the end of the year with window dressing by fund managers.
Reports says that the market capitalisation, which opened at N11.576 trillion lost N239 billion or 2.07 per cent to close at N11.337 trillion.
Also, the All-Share Index lost 654.91 or 2.07 per cent to close at 31,037.72 compared with 31,692.63 achieved last Thursday.
Nestle recorded the highest loss to lead the laggards’ table, shedding N137.10 to close at N1,480 per share.
Seplat Petroleum Development Plc trailed with a loss of N50.40 to close at N592.50, while Dangote Cement depreciated by N4.70 to close at N183 per share.
Forte Oil dipped N2.50 to close at N31.85, while UACN went down by N1.05 to close at N9.75 per share.
On the other hand, Stanbic IBTC led the gainers’ table during the day, gaining N2.65 to close at N53.25 per share.
Presco followed with a gain of N1.85 to close at N64, while Flour Mills gained 85k to close at N21.95 per share.
Berger Paint added 75k to close at N8.60, while Mobil increased 70k to close at N185.50 per share.
The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, said that trading ended in yet another volatile session laced with profit taking.
Omordion said that the oscillating trend would likely continue into 2019, following wealth economic fundamentals with oil benchmark trading below the Federal Government 2018 and 2019 budget benchmark.
An analysis of the activity chart shows that investors bought and sold 1.96 billion worth N6.54 billion in 4,080 deals.
This was against the 452.26 million shares valued at N2.61 billion exchanged in 3,520 deals.
NEM Insurance led the activity chart emerging as the most active stock, exchanging 909.55 million shares worth N3.01 billion.
Wema Bank followed with an account of 657.28 million shares valued at N335.83 million, while NAHCO sold 98.54 million shares worth N413.24million.
Medview Air traded 76.09 million shares valued at N152.18 million, while Zenith Bank exchanged 39.61 million shares worth N913.71 million.

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Kenyan Runners Dominate Berlin Marathons

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6 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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6 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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6 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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