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Market Closed: Mixed Sentiments Trail Trading On Nigeria’s Stock Exchange

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Stock Exchange

Market Closed: Mixed Sentiments Trail Trading On Nigeria’s Stock Exchange

Market Closed: Mixed sentiments trail trading on Nigeria’s stock exchange. The market loss was driven by price depreciation in banking stocks, including First Bank of Nigeria Holdings, Guaranty Trust Holding Company, and United Bank for Africa.

Trading activities on the stock market closed on a mixed note as the Nigerian Exchange Ltd All-Share Index declined by 0.34 per cent due to share price depreciation.

Specifically, the All-Share Index dropped by 0.34 per cent or 366.26 points to close at 107,455.13, compared to 107,821.39 posted on Friday.

However, the market capitalisation gained N94 billion or 0.14 per cent from an opening of 67.193 trillion to close at N67.287 trillion.
The market loss was driven by price depreciation in banking stocks, including First Bank of Nigeria Holdings, Guaranty Trust Holding Company, and United Bank for Africa.

Consequently, the market breadth closed negative with 35 losers and 20 gainers.
Ikeja Hotel led the losers’ table by 9.92 per cent to close at N10.90, followed by the United Capital losing 9.91 per cent to close at N20 per share.

Cutix lost 9.84 per cent to close at N2.29 while Multiverse Mining fell 9.74 per cent to close at N8.80 per share.

Also, Africa Prudential declined by 9.40 per cent to close at N32.05 per share.
On the gainers’ table, Nigerian Exchange Ltd. and Learn Africa gained 10 per cent each, closing at N33.00 and N3.63 per share, respectively.

Stock Exchange

Stock Exchange

Champion Breweries gained 9.90 per cent to close at N4.33, while ABC Transport rose by 8.86 per cent to close at N1.56 per share.
Also, Tantalizer increased by 9.47 per cent to close at N2.08 per share.

A total of 308 million shares worth N7.231 billion were exchanged across 15,474 transactions.

On the activity table, Zenith Bank led in volume and value of trade with 32.37 million shares worth N1.56 billion.

Economy

U.S. Lawmaker Urges President Tinubu To Remove Matawalle Over Rising Attacks On Christians in Nigeria, Cites Relationship With Bandits

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Matawalle’s Leadership

U.S. Lawmaker Urges President Tinubu To Remove Matawalle Over Rising Attacks On Christians in Nigeria, Cites Relationship With Bandits

Relationship with bandits. She urged the U.S. to apply more diplomatic pressure to hold those accused of aiding terrorism accountable.

Kimberly Daniels, a Florida state representative and chairwoman of the United World Congress of Diplomats (UN-WCD), has charged President Bola Tinubu to sack or redeploy the Minister of State for Defence, Bello Matawalle, over rising attacks in the country.

Ms Daniels posted a statement containing her recommendations on tackling insecurity in Nigeria on her Facebook page on Wednesday.

“To The Government of Nigeria: The Results of the Assessment urge President Tinubu to ‘look inward’ and remove elements that compromise national security,” Ms Daniels said.

Ms Daniels’ recommendations specifically included: “Immediate Leadership Review: The removal or redeployment of Minister Bello Matawalle to restore the integrity of the defense ministry.”

She added: “Conducting a transparent investigation into allegations of high-level complicity with banditry to regain the trust of the Nigerian people and implementing more robust security measures for vulnerable communities in the North-Central and Northwestern belts of the country.”

Matawalle’s Leadership

Matawalle

To the U.S. government, Ms Daniels recommended increased “diplomatic pressure to ensure that those accused of aiding terrorism are held accountable.”

“Based on the referenced report, the attacks against believers in Northern Nigeria are allegedly protected by leadership from the inside,” she said.

She added, “The greatest form of terrorism a person can experience is terror that comes from ‘homegrown familiar enemies.’ When the people you trust to protect you work undercover with others who want to harm you, it must be devastating! My brothers and sisters in Nigeria are martyred because they gather to worship Jesus, while most Americans do not understand how precious our religious liberty is and the protections that come with it.”

Bayo Onanuga and Daniel Bwala, spokespersons for Mr Tinubu, have not responded to requests for comment.

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Economy

Nigeria, UAE Set To Advance Energy Cooperation: NNPC Ltd

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UAE Set To Advance Energy Cooperation

Nigeria, UAE Set To Advance Energy Cooperation: NNPC Ltd

Nigeria and UAE set to advance energy cooperation. Earlier today in Abuja, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, paid a visit to the United Arab Emirates (UAE) Ambassador to Nigeria, H.E. Salem Saeed Al Shamsi, at the UAE Embassy.

The meeting highlighted the existing strong bilateral energy ties between Nigeria and the UAE, with discussions spanning upstream oil and gas investment opportunities, gas development and monetisation, crude oil trading, and infrastructure financing.

Both parties reaffirmed the sustained relations between the two nations, rooted in mutual respect and a shared commitment to long-term energy cooperation.

In his remarks, Engr. Ojulari said as a commercially driven entity, NNPC Ltd. offers a strong portfolio of bankable projects across the entire energy value chain, adding that the company remains open to value-based partnerships with UAE institutions, such as Abu Dhabi National Oil Company (ADNOC), Abu Dhabi Investment Authority (ADIA), and National Petroleum Construction Company (NPCC).

UAE Set To Advance Energy Cooperation

UAE Set To Advance Energy Cooperation

The visit builds on earlier cooperation commitments made by President Bola Ahmed Tinubu and President Mohammed Bin Zayed, as both countries work to translate that intent into concrete, mutually beneficial project outcomes.

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Akwa Ibom

Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites

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Akwa Ibom Governor Eno

Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites

Governor Umo Eno has expressed satisfaction with the quality and timely delivery of jobs by contractors at different project sites in the State.

Fielding questions from Government House Correspondents shortly after his inspection of the projects, Governor Eno reaffirmed his administration’s commitment towards ensuring that projects are properly monitored and appropriately funded in line with the contract agreement.

He explained that the routine on-the spot inspection avails him the opportunity to carry out critical assessment of key projects, monitor project timeliness, staff welfare, pace and quality of job execution and funding approvals.

“Mine is to make sure that the work is going on, we get our money’s worth, ensure contractors are on site and that they are doing what they are supposed to do.

“This inspection, for me, is to give me an on-the spot assessment, monitor our time lines. Everywhere I went to, I can tell you that I am satisfied at the pace of work, and the quality of work done,” he stated.

The Governor thanked the contractors for their commitment to their jobs, and urged them to keep to timelines and specifications while prioritizing the safety and welfare of staff.

“I belief that the contractors know that we will demand that they do the work according to our specification.

“I am not just checking the work, I also check the staff, to ensure that everything is going on well. So when I get an IPC on my desk, I know exactly what that payment voucher is addressing. All of these works you see me inspect today, I have payment vouchers waiting for me to sign off.

“So, I have to come to see and be sure that they have reached certain levels before we can make the next set of payments.”

Akwa Ibom Governor Eno

Akwa Ibom Governor Eno

Among projects inspected by the Governor were the Aviation Village, Legislators and Executive quarters at Dakkada Luxury Estate, Equipment Leasing Company, and the CNG Bus Terminal.

In the Governors team were the Secretary to the State Government, Prince Enobong Uwah, Executive Assistant/Chief Delivery Advisor, Mr. Aniefiok Johnson, members of the State Executive Council, and other government functionaries.

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