News
Bua Cement, MTNN Lift NGX By N237bn
Bullish sentiments persisted on the Nigerian Exchange (NGX) Limited yesterday with the market capitalisation increasing further by N237 billion due to investors’ sentiment in bellwethers.
The bellwethers are BUA Cement, MTN Nigeria Commnuciations (MTNN) and Airtel Africa.
Specifically, the market capitalisation surged by N237 billion to close at N21.764 trillion against N21.526 trillion posted on Wednesday.
Similarly, the All-Share Index expanded by 454.40 points or 1.10 per cent to close at 41,704.11 from 41,249.71 achieved on Wednesday.
Consequently, month-to-date and year-to-date gains increased to 3.7 per cent and 3.6 per cent, respectively.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Airtel Africa, BUA Cement, Nigerian Breweries, Nigerian Exchange Group and MTNN.
Analysts at Afrinvest Limited said, “ In the final trading session of the week, we anticipate a pullback occasioned by profit-taking activities.”
Consequently, the market breadth closed positive with 23 gainers as against 18 losers.
Cutix drove the gainers’ chart in percentage terms with 10 per cent to close at N5.50 per share.
Nigerian Exchange Group followed with 9.79 per cent to close at N23.55, while Consolidated Hallmark Insurance appreciated by 9.09 per cent to close at 60k per share.
Nigerian Breweries went up by 7.41 per cent to close at N51.45, while BUA Cement appreciated by 6.12 per cent to close at N72 per share.
On the other hand, The Initiates Plc (TIP) led the losers’ chart in percentage terms by 8.51 per cent to close at 43k per share.
Neimeth International Pharmaceuticals followed with 4.86 per cent to close at N1.76, while Universal Insurance lost 4.76 per cent to close at 20k per share.
Nigerian Aviation Handling Company shed 3.61 per cent to close at N3.47, while Unity Bank and Royal Exchange depreciated by 3.51 per cent each to close at 55k per share.
The total volume of trades declined by 56.7 per cent to 216.19 million units valued at N3.38 billion exchanged in 4,272 deals.
This was in contrast with a turnover of 499.51 million shares worth N5.08 billion exchanged in 5,998 deals on Wednesday.
Transactions in the shares of FBNH topped the activity chart with 51.92 million shares valued at N628.33 million.
Ecobank Transnational Incorporated followed with 20.02 million shares worth N143.69 million, while Transcorp traded 14.65 million shares valued at N14.97 million.
Access Bank traded 13.03 million shares worth N124.23 million, while Fidelity Bank transacted 12.48 million shares worth N34.16 million.
The Organised Labour yesterday, called on the Federal Government to ensure inclusiveness in policy making and guide against erosion of rights, such as free speech and association.
The President, Nigeria Labour Congress (NLC), Mr Joe Ajaero made the call at the 2025 Workers’ Day celebration held at the Eagle’s Square, Abuja.
The Tide source reports Ajaero and the President, Trade Union Congress, Mr Festus Osifo delivered a joint statement on behalf of the organised labour at the event.
Ajaero described May Day as, not only a moment to honour workers’ sacrifices, but also a platform to demand justice and accountability from those in public office.
He frowned at the alleged suppression of protests, and the erosion of rights of workers by some agents
According to him, workers have a duty to resist economic injustice, insecurity, and policies that undermine their dignity.
Speaking on the theme of the day, the NLC President underscored the need for Nigerian workers to reclaim the civic space and resist policies that contribute to worsening economic conditions.
“Our theme this year – “Reclaiming the Civic Space in the midst of Economic Hardship – reflects the urgent need for citizens to protect democracy and push back against repression.
“The civic space, where Nigerians express their concerns and challenge injustices is shrinking.
“If we fail to reclaim this space, the foundation of our democracy risks collapse,” he said
Ajaero, therefore, urged workers to unite and resist division, fear, and despair.
He also urged them to mobilise and organise for change, declaring that the right to demand better conditions is non-negotiable.
“Without workers, there is no society; without labour, there is no development. We must take our place in the fight for economic justice and democratic governance.”
Speaking in the same veins, Osifo said workers are the backbone of the nation—the educators, healthcare providers, builders, farmers, and innovators who sustain its economy -.
He stressed the need for the labour to reclaim the civic space even in the midst of economic hardship.
The Joint Admissions and Matriculation Board (JAMB) has disassociated itself from a fraudulent site requesting payments from candidates who missed the ongoing 2025 Unified Tertiary Matriculation Examination (UTME).
The board said that the site, “Copyrightwriter Personal J Rescheduling Flw” and account number 8520641017 at Sterling Bank, associated with it, are scam.
The disclaimer is contained in a statement made available to newsmen in Abuja on Thursday by the Board’s Public Communication Advisor, Dr Fabian Benjamin.
Benjamin said the account is being exploited to defraud unsuspecting candidates who missed their UTME.
“We issue this urgent notice to inform the public about this nefarious scheme targeting candidates who were unable to participate in the UTME.
“Some unscrupulous individuals are deceitfully soliciting payments of N15,700 under the false pretence of offering rescheduling services for the examination.
“Let us be unequivocal: this, it is a blatant scam, and we are confident that the public will not fall prey to such cheap and regressive tactics.
” The individuals behind this scam have no affiliation with JAMB or any legitimate government agency.
“The account details provided in these communications are entirely fictitious and bear no connection to any official processes; they exist solely for the purpose of perpetrating fraud,” he said.
Benjamin called on Sterling bank to take immediate and decisive action against this criminal activity.
According to him, JAMB has reported the matter to the relevant security agencies and actively pursuing those responsible for this deceitful act.
He further said that “JAMB does not reschedule examinations for candidates who miss their scheduled tests due to reasons unrelated to the Board’s actions”.
He, however, said that the Board is conducting a thorough investigation for candidates whose biometrics failed during verification and were thus unable to sit for the examination.
He said those without discrepancies would be invited to retake the examination at no cost , stressing that “no cost is required”
“It is imperative to understand that JAMB does not charge any fees for examinations after a candidate has completed their registration.
“We strongly urge all candidates to remain vigilant and not to succumb to these fraudulent schemes.
“Protect yourselves and report any suspicious activity immediately,” he explained.
The Niger Delta Development Commission (NDDC) has expressed its willingness to partner with the United Nations (UN) to accelerate the development of the Niger Delta region.
Dr Samual Ogbuku, Managing Director of the NDDC, made the appeal in a statement issued by the commission’s Director of Corporate Affairs, Mrs Seledi Thompson-Wakama, in Port Harcourt on yesterday.
According to the statement, Ogbuku sought the UN’s support during his visit to the UN Resident and Humanitarian Coordinator (UNRHC), Mr Mohammed Fall, at the UN regional office in Abuja.
He called on the global body to provide the NDDC with technical assistance and expert services to support the region’s development.
“We are eager to collaborate with the UN, recognising that the state governments in the region and the NDDC alone cannot achieve the level of regional development required,” he said.
Ogbuku identified key areas where support would be needed, including the provision of portable and affordable drinking water powered by high-tech solar energy sources.
He also highlighted the importance of reforesting the mangrove swamps, which have been severely damaged by decades of environmental degradation caused by oil exploration in the Niger Delta.
“Although the NDDC has made progress in providing solar-powered streetlights across the region, we still require UN support in delivering solar energy solutions for residential buildings.
“We also wish to explore the possibility of installing solar mini-grids in homes across communities, which would boost local commerce and trade,” he added.
The NDDC managing director further appealed for increased UN involvement in areas such as healthcare, education, youth training, gender development, and food security.
Ogunku stated that such interventions would significantly enhance the standard of living in the region.
In response, Fall affirmed the UN’s readiness to collaborate with the NDDC to fast track development in the Niger Delta.
He assured that the UN would support initiatives in food security, job creation, education, and renewable energy, among other areas.
“We aim to approach development in the Niger Delta holistically, rather than focusing solely on environmental pollution.
“This is merely an entry point; however, the UN’s development vision aligns with the Sustainable Development Goals (SDGs), which are designed to positively impact various aspects of people’s lives,” Fall stated.
He assured the NDDC of continued and fruitful engagements to drive the region’s development.