News
Stock Market Trends Downward, Investors Lose N118bn
The Stock Market yesterday continued its downward trend for third consecutive session, leading to a loss of N118 billion for equity investors.
Notably, market capitalisation declined by N118 billion or 0.21 per cent to close at N56.712 trillion, compared to N56.830 trillion recorded yesterday.
The All-Share Index which opened at 100,365.17, also sheds 0.21 per cent or 208.2 points to settle at 100,156.96.
Accordingly, the Year-To-Date (YTD) return slipped to 33.95 per cent.
Meanwhile, sell-offs in Tier-one banking stocks, as well as Dangote Sugar, Transnational Corporation, Honeywell Flour, Guinness, among other declined equities drove the market’s performance down.
Market breadth closed negative with 25 losers and 12 gainers on the floor of the Exchange.
Omatek led 24 other declined equities on the losers’ table by 10 per cent to close at 63k per share, while Custodian Investment Plc led the 11 other advanced equities by 8.51 per cent to close at N10.20 per share.
However, trade turnover settled higher relative to the previous session with the value of transactions up by 12.43 per cent.
A total of 1.34 billion shares valued N9.67 billion were exchanged in 8,198 deals, in contrast to 497.84 million shares valued at N8.61 billion traded in 8,412 deals posted in the previous session.
Also, Tourist Company of Nigeria led the activity table in volume and value with 973.34 million shares valued at N2.79 billion.
News
COAS Tasks Troops To Dominate Battlespace, Intensify Offensive In N/Central
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has tasked troops of Operation SAVANNAH SHIELD to dominate the battlespace and intensify offensive operations against kidnappers, bandits and other criminal elements in the North Central region.
Shaibu gave the directive yesterday during his maiden operational visit to the Headquarters, Joint Task Force North Central (JTF-NC), at Sobi Barracks, Ilorin.
This is contained in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, in Abuja, yesterday.
Shaibu said the Nigerian Army would remain resolute in its constitutional responsibility of safeguarding lives and property, stressing that troops must sustain pressure to decisively deny criminal elements freedom of action.
He assured personnel of continued deployment of combat enablers and operational resources to enhance clearance operations and dismantle criminal hideouts across Kwara and Niger states.
The COAS reaffirmed his commitment to troop welfare, noting that improved welfare remained critical to sustaining morale, operational effectiveness and combat readiness.
He urged the troops to remain disciplined, professional and loyal to the Constitution and the democratically elected government.
Earlier, the Theatre Commander, JTF-NC Operation SAVANNAH SHIELD, Maj.-Gen. Yakubu Yahaya, commended the COAS for his strategic leadership and support.
Yahaya assured that troops would remain committed and steadfast in restoring peace and stability in the region.
News
Obuah’s Victory Excites Former Lawmaker as APC Primaries Conclude in Rivers West
News
Navy Upgrades Training, Infrastructure To Tackle Security Threats
The Nigerian Navy says it is expanding training and infrastructure to address emerging security threats and strengthen operational efficiency across formations and units nationwide.
The Chief of Naval Staff, Vice Adm. Idi Abbas, spoke during the inauguration of projects at the Nigerian Navy Basic Training School (NNBTS) in Onne, Rivers as part of activities marking the Nigerian Navy’s 70th anniversary.
Abbas, represented by the Flag Officer Commanding, Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, said the projects reflected significant progress made by the navy since its establishment in 1956 from the British Royal Navy.
“Training and infrastructure have improved significantly to meet contemporary security challenges and fulfil the navy’s constitutional responsibilities.”
According to him, the anniversary provides the navy an opportunity to reflect on its achievements and contributions over the past seven decades.
Projects inaugurated included a remodelled female trainees’ hostel accommodating more than 500 occupants and an expanded golf course upgraded from one to nine holes.
Others were the NNBTS fuel dump, Chief Boatswain’s Mate House, renovated pharmacy department and a new theatre block at the Naval Medical Centre, Onne.
Abbas described the new theatre as a major milestone for the navy’s medical services.
“Previously, injured personnel requiring surgeries were referred outside the facility.
“With this theatre, surgeries can now be conducted within the base.’’
He added that a 30KVA inverter had also been installed to guarantee uninterrupted electricity supply at the training school.
The naval chief assured officers, ratings and trainees that the navy leadership remained committed to their welfare and wellbeing.
“These infrastructure upgrades show the commitment of the Chief of Naval Staff to addressing operational and welfare challenges promptly,” he said.
In addition, NAVTRAC distributed educational materials to pupils of Community Primary Schools One and Two, Ogale, in Ebubu-Eleme area of Rivers.
Items distributed included exercise books, school bags and other writing materials as part of the navy’s civil-military engagement initiative.
Zipele said the outreach was designed to strengthen relations between the navy and host communities while supporting children’s education.
“Education remains critical to national growth and youth empowerment. Some of these pupils may eventually serve in the Nigerian Navy,” he said.
He noted that the initiative demonstrated the navy’s commitment to educational development, peace, security and sustainable community relations.
Zipele urged the pupils to remain disciplined, focused and committed to their studies while embracing patriotism, integrity and hard work.
He thanked the Ebubu community for its continued support for the naval training command headquarters and the navy.
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