Business
NSE Transactions Resume On Positive Note …As Index Up By 1.31%
The Tide source reports that market index rose by 572.72 points or 1.31 per cent to close at 44,306.48 against 43,733.76 last Friday at the Nigeria Stock Exchange.
Also, the market capitalisation which opened at N15.691 trillion inched N191 billion to close at N15.882 trillion.
According to our source, the market performance was contrary to market analysts’ expectations having predicted that the market would nosedive due to month-end portfolio rebalancing.
An analysis of the price movement table showed that the market growth was driven by Dangote Cement gaining N7.90 to close at N268 per share.
Stanbic IBTC followed with N1 to close at N45, while UACN added 60k to close at N17.60 per share.
Forte Oil grew by 60k to close at N50, while Eterna Oil increased by 43k to close at N5.89 per share.
On the other hand, Guinness topped the losers’ chart with a loss of N2 to close at N110 per share.
Nigerian Breweries trailed with N1.80 loss to close at N150, while Dangote Sugar Refinery shed N1 to close at N20.95 per share.
Flour Mills was down by 50k to close at N30.90, while Guaranty Trust Bank declined by 30k to close at N48.70 per share.
However, the volume of shares traded dropped by 39.32 per cent with an exchange of 573.35 million shares valued at N5.88 billion achieved in 6,756 deals.
This was in contrast with 944.86 million shares worth N7.13 billion transacted in 8,166 deals on Friday.
FCMB Group drove the activity chart, trading 169.12 million shares worth N547.03 million.
Access Bank followed with an account of 42.53 million shares valued at N553.48 million, while United Bank for Africa traded 39.52 million shares worth N513.68 million.
Honey Well Flour exchanged 33.66 million shares valued at N91.50 million, while Zenith International Bank sold 32.84 million shares worth N1.02 billion.
They said it that the new share pricing regime would allow share prices to trade as low as one kobo and boost inflow foreign investments.
The experts, in separate interviews with the newsmen in Lagos, said that the method would also enable investors to categorise stocks on the NSE.
The new pricing method started on Monday, January 29.
Olabisi Onabanjo University, Ago-Iwoye, Ogun State Prof. Sheriffdeen Tella, said that the NSE must of necessity update its pricing method from time to time for trading to be transparent.
He said that for any stock exchange to attract foreigners to participate in its trading and invariably in the economy, it must adhere to global best practices.
Tella said that the method must be well implemented to leave no one in doubt about a particular stock.
The Head of Banking and Finance Department, Nasarawa State University, Keffi, Dr Uche Uwaleke, said that inflation and depreciation of the naira had made the new pricing method imperative.
Uwaleke said that the NSE needed to be in conformity with global best practices in terms of rules and regulations.
He, however, called for proper implementation of the new method to achieve the desired results.
Our source reports that Mr Abimbola Babalola, NSE Head of Market Surveillance and Investigation, said that the new method was “aimed at improving liquidity, narrowing spreads and ensuring that all price-improving transactions had material impact.”
Babalola said the new rules would effectively remove the current rule which placed minimum allowable price for any stock to trade at its nominal value, irrespective of the market forces.
He said that as a result, stocks would be under new groupings and pricing rules and that price of every share listed on the NSE would be determined by market forces.
According to him, Group A, shall consist of large-cap equities that are priced at N100 per share or above for at least four of the last six trading months, or new security listings that are priced at N100 or above.
Group B, shall consist of medium-priced equities that are priced at N5 per share or above, but less than N100 per share for at least four of the last six months, or new security listings priced at N5 per share or above at the time of listing.
Business
UNIPORT, UNIBEN Clinch NCDMB’S Engineering Olympiad Regional Victories
Two universities in the Niger Delta zone (University of Port Harcourt and University of Benin) have emerged winners of the South-South region in the Nigerian Engineering Olympiad (NEO) competition.
The NEO competition which took place at the Nigerian Content Tower(NCT), headquarters of the Nigerian Content Development and Monitoring Board(NCDMB) in Yenagoa, Bayelsa State is a nationwide engineering, innovation and entrepreneurship competition launched in 2025 by a non-profit organization, ‘Enactus Nigeria’, in partnership with NCDMB, Renaissance Africa Energy Company Limited, First Exploration & Petroleum Development Company and the Nigerian Society of Engineers (NSE).
The two Universities teams represented differently by ‘Inovation team PROTRONICS’ and ‘Innovation team VHORDE’, won their counterparts from the Igbinedion University, Okada, Edo State, Federal University of Petroleum Resources (FUPRE), Effurun, Delta State, and the University of Uyo, Uyo, Akwa Ibom State, in the competition showcasing hardware and software prototypes developed to serve as innovative solutions to real-world challenges with specific reference to Nigeria and Africa.
From UNIPORT’s ‘team PROTRONICS’ was an innovation called ‘KEYTRIC’ which the competitors presented as a ‘SMART POWER CONTROL’ that makes electricity usage effortless and automating with the use of an intelligent locking systems.
Team PROTRONICS highlighted high electricity bills, electricity fire risk and expensive smart home and gaps in existing solutions, including costly installation, lack of integration between security and energy, and dependence on the Internet as the reason for their innovative invention.
“Our innovative solution is a smart energy door lock that switches off a user’s electricity supply when they lock to leave the house.
“Our solution saves money on electricity bill, reduces the risk of electric fire accident, and is affordable to everyone”, the Uniport’s team said.
On the other hand, Team VHORDE of the University of Benin presented what it terms Intelligent Real-time Interface(IRIS) which enables visually impaired individuals to gain sight.
They pointed out that there are 4.5 million visually impaired Nigerians who are in some way incapacitated and unable to live life to the fullest.
The students displayed an IRIS pack, consisting sensors, wearable glasses, microphone, camera and Haptic feedback.
On how the IRIS works, the UNIBEN students said the smart glasses, which consist, a camera, depth sensor, and edge Artificial Intelligence(AI) processor, enables a visually impaired person to see and understand the world in real time.
“There’s an AI Compute Unit to be worn at the waist, which runs Convolutional neutral network (CNN) object detection, face recognition, and voice processing on-device”, the team said.
In a section on Business Model and Revenue Streams, the University of Benin competitors indicated production-scale pricing for IRIS Standard as N699,000 one-time purchase.
According to the team, the IRIS standard has the following functions, real-time object and scene identification, familiar face recognition, obstacle and hazard detection (haptic wristbands), natural voice interaction, Edge AI – fully offline core functions, and OTA software updates via Wi-Fi.
In an assessment of the prototypes and demonstrations made, one of the key judges of the competition, Engr. Dokubo Obongo, Manager, Institutional Strengthening, at the NCDMB, described all the presentations as “top-notch”.
He noted that there are solutions that are viable marketwise, relevant to the society and the challenges humans face, explaining that the Engineering Olympiad is a competition targeted at developing home-grown solutions from research and development from Nigerian universities.
“The idea is to see how we can proffer solutions to our own problems which means creating business opportunities”, he said.
Speaking for Enactus Nigeria, the group’s Country Director, Mr. Michael Ajayi, said the two top finalists from the six geopolitical zones would move to a boot camp for further preparation towards the main national championship, and that the best three teams would share N100 million.
He also disclosed that each of the 30 teams that displayed prototype technology in the regional competition would receive N3 million.
Team PROTRONICS of the University of Port Harcourt had as Team Lead Dr. Victor Jinn (Faculty Adviser), while the contestants were Chukwuma Sunday-Odu, Fubara David Otokini, and Ekemini Godwin Akpan, while Team VHORDE of the University of Benin had Anoint Oritsetimeyin Igorki, Oghosa Derick Osarobo, Uti Henry Eworitsewarami, Jada O. Godfrey-Ariavie, Richard O.Enegbuna, Momodu O. Olayemi, and Asemota G. Ayevbosa.
By: Ariwera Ibibo-Howells, Yenagoa
Business
Customs Launches SCADS To Curb Airport Delays
The Nigeria Customs Service (NCS) has officially unveiled the Simplified Customs Advanced Declaration System (SCADS) at the international wing of the Nnamdi Azikiwe International Airport, Abuja.
The move is aimed at improving passenger clearance, compliance and customs operations.
This was contained in a statement by the NCS spokesperson, Abdullahi Maiwada, and made available to Newsmen in Abuja.
Maiwada explained that the platform, designed to simplify baggage declaration for inbound international passengers, aims to reduce manual bottlenecks, improve transparency in revenue assessment and enhance operational efficiency at Nigeria’s international airports.
Speaking at the inauguration ceremony, Deputy Comptroller-General of Customs in charge of ICT/Modernisation, Oluyomi Adebakin, said the deployment of SCADS marked another major step in the service’s digital transformation agenda.
Adebakin said the initiative became necessary to address operational challenges encountered on the service’s previous passenger declaration platform earlier this year.
She explained that rather than allowing the setbacks to slow operations, the service chose to develop a stronger and more efficient alternative.
“When the earlier platform experienced operational challenges, we chose not to see it as a setback.
“We saw it as an opportunity to build something better, stronger and more efficient,” she said.
According to her, the newly introduced SCADS platform allows passengers to declare items before arrival, thereby reducing clearance time while improving compliance and operational integrity.
“For passengers, this system creates the opportunity for advance declaration before arrival. It means faster clearance, easier compliance and smoother movement through our airports,” she added.
Adebakin said that the system would eliminate subjective revenue assessment by ensuring that duties were being automatically generated based on declared items, their quantities and actual values.
“When we talk about revenue collection, it is not about collecting more or less. It is about collecting the right revenue. With this system, assessment will now be more objective, accurate and driven by data,” she said.
Earlier Comptroller Customs Area Controller, FCT Area Command, Victoria Alibo,described the selection of the command for the pilot phase as a vote of confidence in its operational capacity.
Alibo said the new platform integrates passenger baggage and e-commerce declarations into a single digital framework designed to support global Customs best practices.
“SCADS is designed to simplify declarations, reduce clearance time, eliminate manual bottlenecks and align our operations with international standards,” Alibo said.
She said that the pilot phase would run for five days, from May 18 to May 22, during which officers would evaluate the system in a live environment ahead of nationwide deployment.
The event was attended by senior Customs officers, officials of the Federal Airports Authority of Nigeria, partner government agencies, technical teams, and other key stakeholders in Nigeria’s aviation and border management ecosystem.
By: CHINEDU WOSU
Business
Energy Theft, Obsolete Infrastructure Deepen Nigeria’s Electricity Crisis – Expert
Olubiyo, said this in an interview with Newsmen to Monday in Abuja.
He said energy theft occurs at both the consumer and institutional levels across the electricity value chain from generation to transmission and distribution.
According to Olubiyo, at the consumer level electricity theft includes metre bypass, illegal connections and unauthorised access to power without proper billing.
According to him, some customers would dig underground cables directly to their homes or businesses without being metered, while others exploit estimated billing systems to consume electricity without payment.
“Whether through metre bypass or illegal connection, many customers are using electricity for free. That is energy theft,” he said.
He also alleged that institutional energy theft exists within the power sector, particularly through defective, obsolete, or wrongly installed metres used in monitoring electricity generation and distribution.
He said that wholesale metres installed at critical interfaces among generation companies (GenCos), transmission companies, and distribution companies (DisCos) were often out-dated or improperly configured.
He said those could lead to inaccurate readings and inflated subsidy claims.
“If 4,000 megawatts is generated and 7,000 megawatts is recorded, that is energy theft because the excess energy does not get to consumers,” he stated.
The expert further said some operators in the sector allegedly exploit maintenance and repair contracts through inflated contract sums and possible collaboration with vandals.
He also cited the deployment of secure pole-mounted metres in military barracks as an example of how technology can curb metre tampering and unauthorised access.
He, therefore said the sector had to urgently address infrastructure decay, weak regulation, poor investment, and corruption within the value chain.
Otherwise, according to him, Nigeria’s electricity industry will continue to face liquidity challenges, revenue losses and unstable power supply.
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