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Yuletide: Nigerian Stock Market Grows By 3.88%

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7 years ago

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Few hours to Christmas, activities on the Nigerian Stock Exchange (NSE) opened for the week yesterday on a bullish trend following massive gains.
NSE report say that contrary to expectations, the All-Share Index closed trading for Yuletide with 3.88 per cent growth to close at 31,967.01 against 30,773.64 recorded on Friday.
Similarly, the market capitalisation inched N436 billion or 3.88 per cent to close at N11.676 trillion compared with N11.240 trillion achieved on Friday.
Analysts at InvestData Ltd. attributed the development to prevailing cheap prices of stocks that triggered investors’ sentiments for short and long term gains.
“We expect the overall market sentiment to remain mixed with rekindled buying interest on blue chip stocks that had suffered huge losses before now, with strong earnings capacity that is trending up.
“The prevailing cheap prices of stocks may trigger investor-buying sentiments for short and long term gains.
“We expect speculative trading on major stocks with strong potential upside to shape the breadth of market performance this week, while watching the political space, since Q3 numbers have given insights into what the expected Q3 GDP and full year company earnings power will be,” the analysts said.
A breakdown of the activity chart shows that the market recorded 36 gainers and five losers.
Nestle led the gainers’ table during the day, gaining N147 to close at N1,617.10 per share.
Seplat followed with N58.40 to close at N642.90, while Dangote Cement gained N7 to close at N194 per share.
Conversely, Lafarge Africa topped the laggards’ table with a loss of 10k to close at N12.50 per share.
United Capital trailed with a loss of 6k to close at N2.82, while Guinea Insurance was down by 2k to close at 23k.
Tantalizer dipped 1k to close at 20k, while John Holt shed 1k to close at 44k per share.
In the same vein, the volume of shares traded inched 269.45 per cent, while valued of shares appreciated by 41.42 per cent.
Specifically, investors bought and sold 715.04 million shares valued at N5.19 billion in 2,789 deals.
This was in contrast to a turnover of 193.54 million shares worth N3.67 billion transacted in 2,922 deals on Friday.
NEM Insurance was the most active stock during the day, exchanging 508.665 million shares valued at N1.5 billion.
Medview Air followed with an account of 54.76 million shares worth N98.11 million, while Guaranty Trust Bank traded 26.02 million shares valued at N892.01 million.
Transcorp sold 19.36 million shares worth N23.81 million, while Zenith Bank traded 9.49 million shares valued at N218.77 million.
NAN reports that the stock market will be closed for two days to mark Christmas and Boxing Day

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Kenyan Runners Dominate Berlin Marathons

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20 hours ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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20 hours ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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20 hours ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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