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NSE All-Share Index Drops By 0.52%

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10 years ago

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L-R: Head of Media Relations and Strategy, FRSC, Corps Commander Bisi Kazeem, representative of the Corps Marshal, Deputy Corps Marshal Ademola Lawal and Corps Public Education Officer, Corps Commander Imoh Etuk, during the 2015 Annual Petroleum Tanker Drivers' Certification inEleme Local Government Area of Rivers State on Wednesday

L-R: Head of Media Relations and Strategy, FRSC, Corps Commander Bisi Kazeem, representative of the Corps Marshal, Deputy Corps Marshal Ademola Lawal and Corps Public Education Officer, Corps Commander Imoh Etuk, during the 2015 Annual Petroleum Tanker Drivers’ Certification inEleme Local Government Area of Rivers State on Wednesday

The profit taking embarked upon by investors persisted on Wednesday with market indices dropping by 0.52 per cent, following price loses.
The Tide source  reports that trading for the third consecutive day maintained a downward trend as the All-Share Index lost 162.60 points or 0.52 per cent to close at 31,107.11.
This was against 31,269.71 posted on Tuesday due to huge losses recorded by some blue chip equities.
The market capitalisation dropped further by N55 billion to close at N10.662 trillion in contrast with N10.717 trillion recorded on Tuesday.
Mobil led the laggards’ chart with a loss of N8.20 to close at N156.80 per share.
Nestle came second shedding N5 to close at N860, while Guinness dropped N4 to close at N127 per share.
Seplat lost N2 to close at N298, while Flour Mill dipped N1.47 to close at N28.03 per share.
On the other hand, Forte Oil recorded the highest gain to lead the gainers’ table, appreciating by N7.02 to close at N212 per share.
Nigerian Breweries rose by 50k to close at N126.50, while Port Paints gained 18k to close at N3.95 per share.
Dangote Cement appreciated by 15k to close at N150, while Custodian Insurance grew by 10k to close at N4.20 per share.
In spite of the drop in market indices, the volume of shares traded rose by 54.51 per cent with a turnover of 434.17 million shares worth N1.69 billion achieved in 3,105 deals.
Reports say that this was against 280.99 million shares valued N2.91 billion traded in 3,716 deals on Tuesday.
Standard Alliance Insurance drove the turnover with a total of 250 million shares worth N125 million traded in six deals.
Access Bank trailed with 72.21 million shares valued N333.71 million achieved in 236 deals, while GT Bank sold 15.29 million shares worth N365.81 million in 244 deals.
FBN Holdings traded 12.27 million shares valued N83.16 million transacted in 358 deals, while UBA accounted for 11.56 million shares worth N45.70 million exchanged in 98 deals.

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NPA Assures On Staff Welfare 

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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