Activities on the Nigerian Stock Exchange (NSE) extended positive trend on Tuesday with key market indices appreciating further by 0.31 per cent.
Specifically, the All Share Index (ASI) rose by 75.82 points or 0.31 per cent to close at 24,841.94 compared with 24,766.12 recorded on Monday.
Similarly, the market capitalisation, which opened at N12.919 trillion, appreciated by N40 billion to close at N12.959 trillion.
The performance was driven by buying sentiments across Nigerian Breweries, Seplat and some Tier 1 bank stocks.
Consequently, the Month-to-Date gain increased to 0.6 per cent, while Year-to-Date loss moderated to -7.5 per cent.
Market watchers stated that the current undervalue state of the market offered opportunities to position for the short, medium and long-term.
They urged investors to target fundamentally sound, and dividend-paying stocks for possible capital appreciation going forward.
Market sentiment closed positive with 23 gainers and 10 losers.
A breakdown of the price movement table showed that AXA Mansard Insurance led the gainers’ chart in percentage terms, gaining 9.72 per cent to close at N1.58 per share.
It was trailed by UACN with a gain of 8.73 per cent to close at N6.85, while Jaiz Bank increased by 7.27 per cent to close at 59k per share.
NPF Microfinance Bank garnered 5.88 per cent to close at N1.26, while Mutual Benefits rose by 4.76 per cent, to close at 22k per share.
On the other hand, Chemical and Allied Products dominated the losers’ chart in percentage terms, dropping 9.94 per cent to close at N15.40 per share.
Total came second with a loss of 9.91 per cent to close at N79.10, while Ardova dipped 9.67 per cent to close at N12.15 per share.
Unilever shed 8.57 per cent to close at N11.20, while GlaxoSmithKline lost 8.49 per cent to close at N4.85 per share.
Transactions in the shares Transcorp topped the activity chart, accounting for 13.54million shares valued at N8.08 million.
FBN Holdings followed with a turnover of 11.72 million shares worth N59.18 million, while Lafarge Africa traded 8.96 million shares valued at N105.26 million.
The Nigerian Breweries sold 8.87 million shares worth N283.32 million, while Custodian Investment transacted 8.64 million shares worth N43.35 million.
In all, the volume of shares traded dropped by 17.17 per cent with an exchange of 154.47 million shares worth N1.46 billion in 4, 222 deals.
This was in contrast with a total of 186.48 million shares valued at N1.31 billion achieved in 4,718 deals on Monday.
Edited By: Chioma Ugboma/Olagoke Olatoye (NAN)
Edo Poll: APC supporters commend Buhari for providing level playing field
The Buhari Support Organisation (BSO), has commended President Muhammadu Buhari for providing a level playing field for contestants in the just-concluded Edo governorship election.
The BOS said this in statement signed by the Chairman and Secretary of its Enugu State chapter, Chief Anike Nwoga and Mr Godwin Onwusi on Sunday in Abuja.
It described Buhari as a statesmanship and a father of the nation, adding that he had enriched the health of the country’s democracy by observing its core tenet.
“The BSO is happy that Mr President enriched the health of our democracy by observing the core tenets of democracy.
Also in another statement, the United Patriots had congratulated Gov. Godwin Obaseki for his re-election as governor of Edo.
The group’s National Chairman, Mr Chukwudi Ezeobika said Obaseki’s victory remained a plus to the country’s democracy and an end to imposition of ill will on the electorate.
The group commended law enforcement agencies for their professional conduct before, during and after the election.
It commended, especially the Police for exhibiting high level of professionalism and devotion at election.
“We salute the courage and perseverance of the Edo people who turned out in their huge numbers to exercise their franchise and vote for the candidate of their choice.
“We remain resolute in our belief that good governance will enhance more participation of Nigerians in future elections and permanently dislodge the ills of god “fatherism’’ and imposition of candidates on the people against their wish.
“As we approach the Ondo State governorship election scheduled for Oct. 10, we are optimistic that the serenity, security and decorum exhibited by all stakeholders in the nation’s electoral process in Edo, will be brought to bear,” it said.
The group appealed to Nigerian youths to be part of this great struggle to redeem the country and its democracy from abuse.
It said this they could do by protecting and preserving the sanctity of the country’s electoral system, knowing fully well that the future of the country was dependent on such struggle.
Edited By: Grace Yussuf
Iru land is committed to environmental, national development- Oba Lawal
The Oniru of Iru Land, Oba Omogbolahan Lawal, Abisogun II, says the Kingdom is committed to national, environmental and security development for the growth and progress of Lagos State and Nigeria.
Lawal made this known when the Governor of Ekiti State and Chairman of the Governors’ Forum, Dr Kayode Fayemi paid him a courtesy visit on Sunday in Lagos.
The monarch said that various developmental projects were already in place for the benefit of Iru land.
Lawal disclosed that over the past few weeks, Iru land had carried out various exercises bothering around environmental awareness and development such as tree planting and the cleanup of the beach fronts in Iru land.
According to him, the need to maintain a healthy environment will at the long run translate to a generally healthy community, hence the importance of being committed to environmental development.
“I am very grateful and delighted that you are here all the way from Ekiti State. We see all that you are doing in your state and we feel the impacts here in Lagos State as well.
“It is a thing of joy that you have successfully played your part as a governor in developing our nation.
“As governors and traditional rulers, we are enjoined to play our parts in making the nation great again.
“This is why, over the last few weeks here in Iru, we have been engaging in activities bothering around environmental development.
“We started with a tree planting where we distributed no fewer than 1,500 seedlings for coconut and other trees as well as the beach cleanup where we cleaned up waste from beach fronts all around Iru.
“This brings me to the issue of waste management. We need to promote the use of reusable bags as against single use plastic bags,” the Oniru said.
The traditional ruler said that the security of the states’ Liason Offices at the Oniru Beach Front was of optimum importance as the offices were old and dilapidated hence they served as hideouts for miscreants and hoodlums.
“We have written to the Police and I will like you to use your office as the Chairman of the Governors’ Forum to look into this.
“Let us see how the palace can collaborate with those states because a lot of people come into this axis and their security should be our priority.
“We have a lot of financial institutions there, investors as well so we need to redevelop those places.
“There is what we call land value capture in land economics, where property of government, especially those that are not fit for the purpose they were built but are strategically located.
“Such property can still be utilised in some way and it will generate a lot of impact and revenue still comes back to the owners of such property” the Oba said.
The Oniru said that governors and traditional rulers should be able to work hand in hand to bring security and environmental health to people in the community hence, traditional rulers should be included in governance apart from their traditional responsibilities.
He appealed to Fayemi to support the call for giving traditional rulers a role in governance, saying that as traditional rulers, they were more informed about the communities’ needs and they were like a grassroots government.
He said that Iru land always looked forward to a regional integration with neighbouring states such that any development or project proposed was mostly welcome because they would have a positive impact on the national economy.
Earlier, Gov. Fayemi, who expressed delight being at the palace of the Oniru, said that he had no doubts in the abilities of the traditional ruler to deliver his optimum best to the people of Iru land.
Fayemi said that Iru land was one of the primmest and economically viable lands in Nigeria, adding that Oba Lawal was bound to leave it in a better state than he met it considering his many years of experience and the projects that he had already started.
“I am extremely delighted to be here today. This is like a home to me; Kabiyesi has been my brother for years, the better part of the last three decades.
“We have been coming on this journey of progressive development in our communities so I am especially delighted that he has been chosen by our ancestors to continue in the path of our fathers in this very critical community to Lagos and to Nigeria.
“I have no doubts in my mind that his period on the throne is going to be beneficial to our country.
“He is not just a progressive thinker, he is exposed, experienced and has an extensive knowledge of development at the local community and global level.
“The Oniru has received first class education in community development and he has network that will benefit this special community,” he said.
Fayemi said that issues concerning the liaison offices would be looked into by the governors’ forum and everything would be done to ensure the security of the beach front.
He said that he had been abreast of all the developmental projects and programmes that the monarch engaged in since he ascended the throne, adding that he was certain that Iru land was in the best of hands.
“I pray that your reign continues to bring in more prosperity and peace to your people. Everything you lay your hands upon since your ascending the throne will prosper and yield positive results and may God take evil far away from you.
“In the little time I have spent with you, we have discussed nothing but the development of Iru land and you have very grand ideas on how to turn this place around already.
“I am delighted and excited at the opportunities that are staring us in the face with you as our royal father,” Fayemi said.
Edited By: Grace Yussuf
Youths should be drivers of innovation, creativity for a better Nigeria- Ex-VC Bell University
Prof. Isaac Adeyemi, the former Vice Chancellor, Bells University of Technology, Ogun, has charged Nigerian youths to harnessy their knowledge via the internet to be drivers of innovation and creativity for a better Nigeria.
“The youths are the most vulnerable to the post COVID-19 events, including the educational system.
“To position themselves for a successful career, the youths being exposed to technology should take the initiative to see to it that they use the knowledge for innovation and creativity.
‘’That will develop the economy of the country because each country is trying to design means of survival to float,” Adeyemi said.
The former VC said through collaboration with local or international agencies or organisations, some of which are online, youth can leverage and adapt knowledge to suit local situations.
“This can translate into national or state activities that can grow the economy of Nigeria and put it in the global stage.
Also speaking at the event, Prof. Seyi Osunade, Associate Professor, Computer Science department, University of Ibadan, said based on what was happening right now with the effects of COVID-19 pandemic, government and education stakeholders should do more of advocacy.
“That is creating an awareness for the youths on what the pandemic is, that it is real and people still need to take precautions.
“Though the number of infected people are dropping, people still need to take precautions and as schools are preparing to resume, people should work towards maintaining the safety protocols and adhere to COVID-19 guidelines.
“Our curriculum should focus more on practical skills and expressions, that is they should teach things that our students can do here to provide local solutions to our challenges.
“Things they can develop into products, because if we can adapt the knowledge we have into a working solution it will go a long way for us.
“Technical and vocational education should be encouraged more even in our normal school curriculum,” Osunade said.
The Pioneer of SSII, Mrs Omokehinde Deji-Akinpelu said the organisation was focused on community service.
She said that the initiative started formally in 2014 with mentoring of undergraduate students at Lead City University.
Deji-Akinpelu stated that the vision of the organization was to raise purpose driven young men and women who would become world renowned in conduct, character and competence.
“We are set out to impart them with positive values and right attitude to life that will enable them become accountable and responsible adults
“You will agree with me that part of what we are facing today with our political leaders in Nigeria is lack of right mentoring.
“Some of these youths are taking wrong steps and decisions because they lack right and proper mentoring, we need to address this for a better Nigeria.”
Deji-Akinpelu further stated that youths would rather model their lives after celebrities and people they don’t even have direct access to and that had its disadvantages.
Two of the participants who spoke to NAN, Oluwatobi Oduola and Ayomide Olukorede said their passion to influence teenagers and mentor them towards greatness fueled their participation.
They identified lack of sense of direction and career choice as major challenges teenagers are faced with and the need to help as many youths to succeed in life despite all odds.
Edited By: Bayo Sekoni
Dabiri-Erewa hails Nigerian Ezeajughi’s re-election as UK Mayor, Ajagba’s United States boxing victory
Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), has congratulated Nigerian-born scientist, Ernest Ezeajughi, who was elected to serve a second term as the Mayor of Brent.
She also commended Nigerian-born Boxer, Efe Ajagba for defeating his American opponent, Jonnie Rice, in a keenly contested bout on Saturday night at the Bubble in Las Vegas, Nevada.
The congratulatory messages were contained in two separate statements issued on Sunday by NIDCOM Head of Media and Public Relations, Abdur-Rahman Balogun in Abuja.
Dabiri-Erewa said the re-election of Councillor Ezeajughi, was a testimony to his outstanding performance during his first term, which earned him the respect of the people.
She advised him to continue to impact positively on the people, especially those who gave him the mandate, by living up to their expectations.
The NiDCOM boss urged other Nigerians living abroad to emulate the friendly disposition of Ezeajughi that endeared him to the people outside the shores of Nigeria.
The re-election followed the first ever virtual Annual General Meeting (AGM) of the council.
Ezeajughi was first elected Mayor in 2019 and had gone about discharging his duties with gusto.
Unfortunately, due to the Coronavirus pandemic, he has had to cut back on his outings this year but in recognition of his sterling work, the council voted to return him to office for another year.
The event was attended by councillors from across the borough and it also confirmed that Councillor Lia Colacicco, who represents Mapesbury ward, would continue as deputy mayor.
In a related development, the NiDCOM boss also hailed Nigerian-born boxer, Efe Ajagba for defeating his American opponent Jonnie Rice.
She said that the victory over the American boxer was not only a thing of pride to Nigerians, but to Africa as a whole.
“I congratulate you on this wonderful feat, for winning this tensed but historical fight.
“We are truly proud of you and urge you to continue to use your professional prowess to extol the virtues of Nigerian heritage.
“Your shinning beacon serves as inspiration to the youths of Nigeria.
“Your victory is also a testimony to the fact that Nigerians are great people, contributing in many ways to the development of the country and the continent as a whole,” Dabiri-Erewa stated.
She noted with satisfaction that in spite of the challenges being faced by the 26 years old Ajagba in his career, he had remained determined, focused and did not allow that to lure him into any form of criminality or depression.
This is only the second time Ajagba would be winning a fight via a 10-round unanimous decision.
While Ajagba has had it ‘easier’ in most of his other fights, he was pushed to the limits against Rice; claiming a ten-round unanimous decision over the 33-year-old American boxer.
As reported by Boxing Scene, Judge Max DeLuca had the bout 98-92, while judges Adalaide Byrd and Dave Moretti scored it 99-91 in favour of Ajagba.
This is the second time Ajagba would be winning a fight via unanimous decision, haven knocked down all his previous challengers.
Edited By: Chioma Ugboma/Felix Ajide