Rivers

Capital Market Indices Records 2.53 Percent Rise

Published

13 years ago

July 24, 2013

The Equity
Market of the Nigerian Stock Exchange (NSE) for the week ended July 19, 2013 finished on a bright note as the bulls maintained their grip on the market resulting to a straight-nine day-gaining streak.
This market upbeat was reflected in twin market indicators as both the composite index and the aggregate market capitalisation of listed equities surged by 2.53 per cent each.
In specific terms, the All Share Index (ASI) which opened the week at 37,382.49 basis points finished at 38,328.29 basis points even as the market capitalisation of listed equities firmed up by N299.53 billion to close the week at N12.138 trillion from an opening value of N11.83 trillion.
The week opened with the first trading day finishing on positive note as the market advanced by 0.90 per cent as the ASI closed at 37,720.78 basis points. The market index continued tilting southward on the second trading as it rose by 0.44 per cent even as it increased by 0.24 per cent the following day being Wednesday.
The market recorded the highest gain on Thursday with 0.95 per cent growth while it carved in marginally on Friday flaking 0.02 per cent.
The NSE 30 index which tracks 30 most capitalised stocks on the Nigerian bourse rose by 3.06 per cent to close the week at 1,812.57 points.
Also four of the NSE indices appreciated during the week with the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas and NSE –Lotus 11NSE advanced by 4.72 per cent, 1.27 per cent, 0.28 per cent, 9.37 per cent and 3.30 per cent respectively while NSE Industrial Goods and NSE Asem dropped by 0.45 per cent and 0.50 per cent in that order.
The NSE price movement chart had a total of 50 stocks which appreciated in their value up from 37 equities which recorded price appreciation the previous week. Thirty-nine dipped in their prices compared with the 47 equities that depreciated last week.
Those whose value remained flat were 105 as against 110 equities that remained constant in their prices the previous week.
The top 10 gainers were Julius Berger Nigeria Plc N13.73, Seven-Up Bottling Company Plc N10.00 Forte Oil Plc N9.42, PZ Cussons Nigeria Plc N9.14, MRS Oil Nigeria Plc N6.28, /HS Plc N1.20, Champion Breweries Plc N1.47, IPWA Plc 47 Kobo, UTC Nigeria Plc 14 Kobo and ABC Transport Plc 19 Kobo.
Conversely, the top 10 losers for the week were, Berger Paints Plc, N1.68, Points and coatings Manufacturers Plc 23 Kobo, Costain (WA) Plc 24 Kobo, Portland Paints and Products Nigeria Plc 80 Kobo, Trans-Nationwide Express Plc 27 Kobo, Jos International Breweries Plc 11 Kobo, Academy Press Plc, 20 Kobo, ARBICO Plc 62 Kobo, Nigerian-German Chemical Plc 81 Kobo, B.O.C. Gases Plc 73 Kobo and Pharma Deko Plc 20 Kobo.
A total market volume of 1.886 billion units of shares valued at N15.536 billion were recorded during the week under review in 28,619 transactions up from a total of 1.674 billion units of shares worth N18.266 billion exchanged by investors the previous week in 25,367 trades.
In volume terms, the financial service sector emerged first on the activity chart accounting for 763.653 million units of shares valued at N7.276 billion exchanging hands in 14,740 deals indicating 40.50 per cent, 46.83 per cent, 51.50 per cent of the overall equity turnover volume, value and deals.
It was followed by the conglomerates sector with a turnover volume of 704.825 million units of shares 704.825 million units of shares at the value of N1.137 billion recorded in 1,122 deals contributing 37.38 per cent, 7.32 per cent and 3.92 per cent to the total equity turnover volume, value and number of deals respectively.
With a turnover volume of 169.556 million units of shares worth N335.382 million recorded in 943 deals, the million recorded in 943 deals, the services sector emerged third on the week’s activity chart.
Trading in the shares of Transnational Corporation of Nigeria Plc (Transcorp), ABC Transport Plc and FBN Holdings Plc accounted for 900.568 million units of shares valued at N2.693 billion executed in 3,714 deals contributed to 47.76 per cent, 17.33 per cent and 12.98 per cent to the total equity turnover volume, value and deals in that order.
Meanwhile according to the National Bureau of Statistics (NBS) the drop in inflation rate last week shot pushed up the price of bond but the FGN bond reduced as bond yields and prices moved in the opposite direction.
The Nation’s Consumer Price Index (CPI) for June fell to 8.4 per cent compared to the 9 per cent it stood in May, the NBS stated. It noted that core and food indices in June averaged 8.9 per cent and eight per cent respectively as against the 12.5 per cent and 14.1 per cent it attained the previous month.
The drop in inflation rate, according to NBS was due to “slower rise in all Classification of Individual Consumption According to Purpose (COICOP) classes except the food and non-alcoholic beverages class”.
The 4 per cent FGN April 2015 rose marginally as it closed at N85.96 as against N85.33 it sold the previous week while the 15.10 per cent FGN April 2017 paper closed at N105.70 last week from an opening price of N104.70 the preceeding week. Also, the 10.70 per cent FGN May 2018 finished higher at N90.47 compared with an on-board price of N89.82.

Rivers

Microbiologists Inaugurates New Exco, Chart New Course In Dev

Published

2 days ago

February 23, 2026

The Tide

The Nigerian Society for Microbiology (NSM) has strengthened its regional footprint with the inauguration of the executive members of its South-South Zonal Chapter, tasking them with championing the pivotal role of microbiologists in national development.

At a virtual inaugural meeting held recently, the National President of NSM, Prof. S. A. Ado, formally ushered in the new leadership team, describing the chapter’s take-off as both strategic and long overdue for a region of immense ecological and economic importance.

The newly appointed executives are Prof. Nedie P. Akani, who is the Zonal Coordinator (Rivers State University); Dr. Anwuli U. Osadebe, Zonal Secretary (University of Port Harcourt); Dr. Tonye Sampson, Treasurer/Financial Secretary (Rivers State University); and Prof. Elijah Ohimain, Public Relations Officer (Niger Delta University, Amassoma, Bayelsa State).

In his welcome remarks, Ado congratulated the team and pledged the full backing of the National Executive Council (NEC), commending the swift coordination that culminated in the chapter’s inauguration.

He urged the executives to prioritise unity and professional mobilisation across the vast South-South region, noting that effective organisation would be critical to achieving impact.

Echoing this position, the National Secretary, Prof. Sunday Awe, and the National Business Manager, Prof. C. J. Ogugbue, reaffirmed NEC’s support and underscored the weight of responsibility before the new zonal leadership.

They acknowledged the geographic spread and diversity of the zone, but expressed confidence in the capacity of the Coordinator to provide purposeful leadership.

Ogugbue, in particular, highlighted the multidisciplinary scope of microbiology and its growing relevance in pollution control, environmental remediation, biodiversity conservation, agricultural productivity, coastal ecosystem protection and the development of a sustainable blue economy.

He stressed that the South-South Chapter must serve as a hub of scientific leadership, given the region’s environmental sensitivities and economic assets.

In her inaugural address, the Zonal Coordinator, Prof. Nedie Patience Akani, described the formal launch of the chapter as “a dream come true” for microbiologists in the region who had long anticipated a structured platform for collaboration and professional advancement.

Akani said the new executive was fully aware of its mandate and committed to repositioning microbiology as a driver of innovation and problem-solving in the South-South.

According to her, the Chapter will focus on mobilising practitioners to register with the society and participate actively in its programmes, ensuring timely payment of dues, organising annual symposia and workshops, appointing state representatives, and maintaining regular reporting to the NEC.

She emphasised that beyond administrative coordination, the executive would work to amplify the voice of microbiologists in addressing regional challenges, particularly in environmental management and sustainable development.

“We are committed to serving the society and advancing microbiology in the South-South zone,” she said, and expressed appreciation to the national leadership for its trust and for enabling the inauguration to hold virtually.

With the new executive now in place, stakeholders say the South-South Zonal Chapter is poised to galvanise professionals across the region and deepen the impact of microbiological research and practice in shaping public health, environmental sustainability and economic resilience.

Rivers

IAUE VC Warns Against High Price In Textbook Sales

Published

2 days ago

February 23, 2026

The Tide

The Vice Chancellor (VC) of Ignatius Ajuru University of Education (IAUE), Prof Okechuku Onuchuku, has directed students to report any lecturer who sells textbooks above ?5,000 to the institution’s Quality Assurance Department.

This, he said, is part of decisive steps to protect students from exploitation and uphold ethical standards on campus.

Onuchuku made made this known following students’ growing lamentation over the high cost of textbooks in the Campus recently.

The VC warned that compelling students to purchase textbooks at inflated prices is not the policy of the university and will not be condoned under any circumstance.

He stressed that while academic authorship is encouraged, monetising compulsory materials beyond the approved ?5,000 benchmark undermines access to education.

According to him, any lecturer found violating the directive should be promptly reported for investigation and appropriate sanctions.

He assured students that management remains committed to creating a fair academic environment where learning is not hindered by undue financial pressure.

The IAUE helmsman described the directive as part of a broader reform agenda aimed at sanitizing the academic system and strengthening institutional accountability.

He reiterated that the Quality Assurance Department has been empowered to handle such complaints with confidentiality and diligence.

Professor Onuchuku has consistently championed discipline, transparency and integrity since assuming leadership of the university.

His administration has repeatedly cautioned staff against academic fraud, sharp practices and conduct capable of tarnishing the institution’s image.

Under his stewardship, the university secured approval from the National Universities Commission (NUC) to mount fourteen new undergraduate and postgraduate programmes, significantly expanding its academic frontiers and reinforcing its relevance in Nigeria’s higher education landscape.

In a bid to promote academic excellence, the Vice Chancellor also introduced incentives targeted at high-performing students, including free internet access for those with a cumulative grade point average of 3.5 and above.

The initiative, according to a statement from the Public Relations Unit of the university, is designed to strengthen research culture and reward diligence.

By: King Onunwor

Rivers

Hon Worlu Expresses Concern Over Tragic Incidents In PHALGA … Assures On Safety, Security

Published

2 days ago

February 23, 2026

The Tide

The Chairman of Obio/Akpor Local Government Area (LGA), Hon. Gift Worlu, has expressed deep concern over the unfortunate incidents that led to the loss of lives in parts of the LGA.

A statement the Chairman personally signed, weekend, said the incidents occurred in Rumuokpoku, Rumuola and at the Rumuokwurusi Oil Mill Market, causing apprehension among residents.

The OBALGA Council boss described the development as regrettable and assured residents that security agencies are fully on top of the situation.

He disclosed that some arrests have already been made in connection with the incidents, with efforts ongoing to ensure that the suspects are prosecuted in accordance with the law.

The Chairman urged residents to remain calm and law-abiding, stressing that there is no cause for panic.

He called for sustained collaboration between security agencies and community leaders to curb the negative trend and restore normalcy in the affected areas.

Dr. Worlu commended security operatives and community stakeholders for their swift response and commitment to maintaining peace and order.

He reaffirmed the commitment of the local government to safeguarding lives and property across the LGA.

The Chairman encouraged residents of Obio/Akpor to continue with their lawful businesses without fear, and assured that the government will continue to take all necessary measures to strengthen security and prevent a recurrence of such incidents.

He extended his heartfelt condolences to families who lost their loved ones in the unfortunate events, and also prayed for the repose of the departed souls and comfort for the bereaved families during this difficult period.

By: King Onunwor