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Investors Lose N598bn As Large-Cap Stocks Decline

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4 years ago

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The Nigerian stock market declined by N598 billion at the end of last week as some large-cap stocks recorded price losses.
The NGX All-Share Index depreciated by 2.63 per cent to close the week at 42,167.91 basis points from 43,308.29bps while the market capitalisation of stocks fell to N22tn from N22.6tn.
All other indices finished lower with the exception of the NGX Insurance Index, which appreciated by 2.97 per cent, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.
A total turnover of 1.28 billion shares worth N17.34bn in 21,052 deals was traded last week by investors on the floor of the NGX, in contrast to a total of 3.44 billion shares valued at N30.92bn that exchanged hands in 21,109 deals the previous week.
Measured by volume, the financial services industry led the activity chart with 984.543 million shares valued at N10.25bn traded in 11,029 deals.
It contributed 77.01 per cent and 59.09 per cent to the total equity turnover volume and value respectively.
The consumer goods industry followed with 78.72 million shares worth N2.33bn in 3,137 deals, while the conglomerates industry had a turnover of 48.73 million shares worth N69.84m in 647 deals.
Investors and audacity of hope
Trading in the top three equities, namely FBN Holdings Plc, Guaranty Trust Holding Company Plc and Access Bank Plc, measured by volume, accounted for 470.73 million shares worth N6.57bn in 3,887 deals.
They contributed 36.82 per cent and 37.9 per cent to the total equity turnover volume and value respectively.
Eighteen equities appreciated in price during the week, lower than 29 in the previous week; 49 equities fell as against 36 in the previous week, while 89 equities remained unchanged as against 91 in the previous week.

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Kenyan Runners Dominate Berlin Marathons

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21 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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21 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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21 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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