Business
NSE’s Market Capitalisation Sheds N56bn, Amid Blue Chip Losses
Trading on the Nigerian Stock Exchange (NSE) swayed northward yesterday, with some blue chips recording price loses.
Specifically, Nestle recorded the highest loss to lead the losers’ table, dropping by N4.90 to close at N1,545 per share.
Dangote Cement trailed with N2 to close at N190, while Transcorp Hotel dipped 55k to close at N5.40 per share.
Eterna shed 40k to close at N4.40, while GT Bank dropped 30k to close at N35.40 per share.
Consequently, the All-Share Index shed 149.49 points or 0.48 per cent to close at 31,210.79 compared to 31,360.28 achieved on Wednesday.
Also, the market capitalisation which opened at N11.694 trillion lost N56 billion or 0.48 per cent to close at N11.638 trillion.
Conversely, Dangote Flour topped the gainers’ chart with a gain of 80k to close at N10.30 per share.
Ikeja Hotel came second with 17k to close at N2.30, while Sterling Bank chalked up 14k to close at N2.50 per share.
NEM Insurance rose by 12k to close at N2.50, while UBA increased by 10k to close at N7.65 per share.
Similarly, the volume of shares traded closed lower by 52.94 per cent with 177.63 million shares worth N2.56 billion achieved in 2,635 deals.
This was against the turnover of 377.49 million shares valued at N2.26 billion traded in 3,273 deals on Wednesday.
The banking stocks remained the most active with Zenith Bank accounting for 80.78 million shares worth N1.80 billion.
Sterling Bank followed with 16.80 million shares valued at N41.87 million, while FCMB Group transacted 12.13 million shares worth N 23.83 million.
GT Bank sold 6.39 million shares valued at N228.24 million, while Fidelity Bank traded 5.99 million shares worth N13.13 million.
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.”
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