The Nigerian equities market sustained its positive trend on Thursday as investors gained N577 billion at the close of the day’s trading.
This followed an increase in the share prices of stocks like MTNN, VITAFOAM, and UNILEVER amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalization rose to N55.7 trillion from N55.1 trillion recorded by the bourse on Wednesday.
The All-Share Index (ASI) also increased to 98,116.27 from 97,098.98 recorded the previous day.
The market breadth was positive as 32 stocks advanced and 19 declined, while 63 others remained unchanged in 9, 059 deals.
MTNN, VITAFOAM, and UNILEVER led other gainers with 10% each in share prices to close at N198.00, N19.25, and N18.70 from the previous N180.00, N17.50, and N17.00 per share.
On the flip side, UCAP, ABBEYBDS, and STERLINGNG led other price decliners as they shed 9.94%, 8.05%, and 5.66% each to close at N14.50, N2.40, and N4.00 from the initial N16.10, N2.61, and N4.24 per share.
On the volume index, ACCESS CORP led trading with 115 million shares valued at N2.2 billion in 662 deals followed by GTCO which traded 109 million shares valued at N5.0 billion in 409 deals.
ABBEYBDS traded 50 million shares valued at N121 million in 17 deals.
On the value index, GTCO recorded the highest value for the day trading stocks worth N5.0 billion in 409 deals followed by ACCESS CORP which traded equities worth N2.2 billion in 662 deals.
SEPLAT traded shares valued at N1.59 billion in 50 deals.
By: Babajide Okeowo
The post NGX: Equities market maintains bullish trend as investors gain N577bn appeared first on Latest Nigeria News | Top Stories from TVN.
NGX: Equities market maintains bullish trend as investors gain N577bn
Ensure credible LG poll, PDP tells Anambra electoral commission
The Anambra State Chairman of the Peoples Democratic Party, Igwe Chigozie, has urged the newly inaugurated state’s Independent Electoral Commission to ensure a free and fair local government election in the state.
Igwe, who spoke at a press briefing in Awka, Anambra State, on Thursday, stressed the need for ANSIEC to maintain neutrality, independence and avoid bias in favour of the ruling All Progressives Grand Alliance government in the state.
He warned that the PDP would not tolerate any form of manipulation or rigging in the elections, adding that the party was fully prepared and positioned to win the majority of the elections.
He said, “The PDP has been strategising and working tirelessly towards the future elections in the state, including the 2025 governorship elections.
“We urge ANSIEC to adhere to the principles of transparency, fairness, and impartiality in the planning and conduct of the elections. Anything short of that would be unacceptable to the PDP and the people of Anambra State.
“We call on the electoral body to ensure that all eligible voters are given the opportunity to participate in the electoral process without any form of intimidation or harassment.”
Igwe expressed confidence in the PDP’s ability to win the local government elections, citing the party’s popularity and acceptance among the people of the state.
He assured all that the PDP would continue to work hard to ensure victory in the anticipated elections, reiterating the party’s commitment to democratic principles and its determination to ensure that the will of the people prevails in the forthcoming elections in Anambra State.
According Online had reported that the state governor, Prof. Chukwuma Soludo, on Tuesday inaugurated the board of ANSIEC, to be chaired by Genevieve Osakwe, with the responsibility of conducting the local government elections last conducted in the state in 2014.
The date for the local government elections has yet to be fixed, but expectations are high in the state that the 21 local government areas would soon have elected chairmen as against caretaker committee chairmen being appointed by the successive governors every three months since 2014.
Women minister stops Abuja event, orders organiser’s arrest
The Minister of Women Affairs and Social Development, Uju Kenedy-Ohanenye, on Thursday, disrupted an ongoing event in the Federal Capital City of Abuja, accusing the organiser of impersonating the ministry.
In a one-minute video posted on the official X (formerly Twitter) handle of the International Centre for Investigative Reporting, #TheICIR, the minister disclosed that the organiser had been arrested and that the event was on hold.
The event was planned by Mela-Chiyoma PAT Limited and themed “Unveiling the Power of Women in Food Security”, although other details of the event were sketchy.
Ohanenye explained that President Bola Tinubu was displeased about the use of the name of the ministry in planning the event, adding that the organiser should have used her own name in planning the event.
Addressing journalists who were invited by the organisers, she said, “I am standing here to explain this to everyone. She has been arrested. She should have reorganised herself, used her name to make the invitation, and used her name to do this, not to use the Federal Ministry of Women Affairs.
“I can’t allow this programme to go on because this is pure impersonation, and the President is not happy about it. I am saying it, let the media cover it. I don’t care. You don’t do this. You don’t take the ministry for granted, for what?”
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1,000 Ondo residents get free medical service
Governor Lucky Aiyedatiwa of Ondo State has begun a monthly outreach which offers free medical services to residents of Akure, the state capital.
The programme, which began on Monday, August 5, 2024, under the supervision of the Akure South Local Government Chairman, Gbenga Fasua, has seen the medical treatment of 1,000 ailing residents in Akure.
This was according to a statement, on Tuesday, by the Personal Assistant to the Chairman, Akure-South Local Government, Iteyemi Adegoroye.
Joined in supervision by the chairman of Akure East Local Council Development Area, Mr Taiwo Samson, and his counterparts in Akure West LCDA, Sunday Kekereowo, and Oyemekun LCDA, Ifedayo Ologometa, medics on hand treated various categories of ailment, in gratis.
In his remarks, Fasua said, “This complies with an aspect of the various palliative programmes designed by Governor Lucky Aiyedatiwa to assist the less-privileged in this testing period; many who cannot afford the costs of medical treatment.
“It is a continuous exercise as it will be held every month, with the deployment of medical experts to attend to various categories of ailment, at no cost.”
He said apart from distributing food items to vulnerable residents, Aiyedatiwa’s administration also recently released over N2bn as soft loans to petty traders, farmers, artisans, and young entrepreneurs.
The governor, according to Fasua, has also mobilised road and other contractors back to the site, apart from awarding fresh contracts to provide basic social amenities.
“We, the newly appointed Transition Committee chairmen, have also keyed into Mr Governor’s lofty agenda by initiating various forms of palliative programmes to put smiles on the faces of the masses.
“In the same vein, the state government, in concert with respective local administrations, has introduced a Community Market to provide subsidised food items and agricultural seedlings to the people,” the chairman said.
Ebonyi community elders condemn killing of soldier at checkpoint
The members of Edda Elders Council, in Edda Local Government Area of Ebonyi State, have condemned in strong terms the unwarranted attack and killing of a soldier in the Amangwu axis by suspected hoodlums.
In a statement signed on Thursday and made available to newsmen in Abakaliki, the chairman of the Edda Elders’ Council, Livinus Irem and the secretary, Chief John Emegha, condemned the unprovoked attack at the military base and described the incident as tragic.
According to the statement: “The people of Edda condemn in its entirety the barbaric act that is strange to our core values and belief system, as we traditionally abhor evil in whatever manner or form.
“However, we commend the security agencies for their proactive approach to tackling the grim security situation with a touch of professionalism. Edda is a peaceful community and therefore is determined to do anything humanly possible to sustain the prevailing atmosphere of peace in the clan.
“The leadership of Edda Clan will collaborate with relevant security agencies to ensure that the perpetrators of the dastardly act are brought to justice.”
Ebonyi community elders condemn killing of soldier at checkpoint
Gov Sani vows justice for teenage protester killed by soldier in Kaduna
The Kaduna State governor, Uba Sani, has vowed that his administration will ensure that Ismail Muhammad, a 16-year-old boy who was killed by a military officer during the ongoing protest, gets justice.
TVN recalls that the teenage boy was gunned down by a soldier on Tuesday when the troops of the Nigerian army stormed the Samaru community in Zaria to disperse the hunger protesters.
The army said in a statement on Wednesday that the erring officer has already been arrested and detained pending the conclusion of an investigation.
Speaking on the matter, the Kaduna governor, in a statement he signed on Thursday, assured Nigerians that the deceased would get justice.
The governor said that he earlier dispatched a high-powered delegation made up of top government officials and heads of security agencies to visit and condole with the family of the teenager.
“The team was led by the Overseeing Commissioner for Internal Security, Samuel Aruwan.
“While the team was with the family, I spoke on the phone with the father of the deceased, Muhammad Hussaini and expressed our deepest condolences.
“I told him that we are deeply pained by the unfortunate incident and will leave no stone unturned to ensure that justice is served. A full and thorough investigation will be conducted and the culprit will be brought to book.
“I will stay in close contact with the family of the deceased in these trying times,” the governor said.
Gov Sani vows justice for teenage protester killed by soldier in Kaduna
Police nab two Beninois over car theft in Lagos
The Police Command in Lagos State has arrested two citizens of the Benin Republic over alleged car theft.
The command’s spokesperson, SP Benjamin Hundeyin, confirmed the arrest to the News Agency of Nigeria on Thursday.
Hundeyin said that the suspects, Kosoko Rafiu and Nunayo Sunayo, were arrested in an attempt to escape with the vehicle along Mile 2/Badagry Expressway on Tuesday.
He said that the suspects, after hijacking the vehicle, were on top speed to escape a police checkpoint but were finally arrested in the Abule Ado area of the state.
The police image maker said that the suspects stole the vehicle at a function in the Anthony Village area of the state.
Hundeyin said that the suspects specialised in stealing vehicles from functions in Nigeria and escaping with them to their country.
“They decided to steal this car while the protest was ongoing in the state.
“They thought of escaping with it with ease, thinking the police were only paying attention to protesters and not other crimes.
“Luck, however, ran out on them after they stole the vehicle at about 12.00 a.m.
“Some police operatives at the Trade Fair Complex, on special duty during the ongoing protests, received intelligence that one red Toyota Corona vehicle was coming towards their direction.
“The operatives patrolled and monitored the event before suddenly seeing the car at high speed in a suspicious manner.
“The DPO immediately alerted his team for stop and search of vehicles. Immediately, the suspects got to the police checkpoint, and they sped off again.
“The suspects were immediately given a hot chase, and eventually the vehicle was flagged down in the Abule Ado area.
“Both suspects were promptly arrested with the stolen vehicle,” he said.
Hundeyin said that during the investigation, the suspects confessed that they came from the Republic of Benin to steal vehicles in Nigeria.
He said that the Toyota Corona with Reg. No. JJJ 741 EJ and different charms were recovered from the suspects.
(NAN)
Five die in Jigawa canoe accident
Five persons died in a canoe accident at Taura local government area of Jigawa State on Thursday.
The spokesman for the state police command, Lawan Shiisu Adam, confirmed the incident in a statement in Dutse,
He said the canoe which carried 20 passengers capsized while crossing the Gamoda River near Nahuce village.
Adam said: “Following a distress call, a team of policemen, local divers, and Good Samaritans rushed to the scene in a rescue effort.
“Regretfully, five of the passengers were found dead.”
The spokesman listed the victims as Abdurra’uf Mohammed (15), Suleman Ali (20), Shafiu Mohammed (25), Ado Nafance, (75), and Alasan Mohammed (16).
“Efforts are ongoing to rescue the remaining passengers,” he added.
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Use OPC to tackle insecurity, Gani Adams tells FG
The Aare Onakakanfo of Yorubaland, Gani Adams, has lamented the refusal of the Federal Government to leverage the large and widespread structure of his group to tackle insecurity in the country.
Adams, who doubles as the National Coordinator, Oodua Peoples Congress, stated this in Osogbo, Osun State capital, on Thursday at the annual leadership retreat of the group, attended by members of the group from Osun and beyond.
The OPC national coordinator emphasised the need for the Federal Government to allow state and local governments to organise their own security architecture and protect lives and properties.
He advised governments at all levels to take advantage of the already established structure of OPC which has a vast presence in many communities in the country, to provide security for the populace.
“Governments at various levels have refused to take advantage of our structure to their advantage. If the government is determined to tackle insecurity and reduce it drastically, those in authority know what to do.
“Even though we have three tiers of government; the federal, state, and local governments. What that means is that each tier must have its own security. The Federal Government should have its own security, the state must have its own security and the local government must also have its own security architecture.
“Especially now that the Federal Government has fought for the local governments to have their autonomy, they have more than enough resources to have their own local government security set up,” Adams said.
Earlier in his welcome address, the state OPC coordinator, Yemi Aboderin, explained that the retreat was targeted at educating members of the group on their role in enhancing the security of the state and the Yoruba land at large.
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Nigerian govt lifts suspension on Arik Air’s operations
The Federal Government has lifted the suspension of Arik Air’s operations.
In July, the Nigerian Airspace Management Authority (NAMA) grounded Arik Air operations over its alleged failure to pay a $2.5 million debt owed to Atlas Petroleum International Limited.
on August 2, the Nigeria Civil Aviation Authority (NCAA) suspended Arik Air’s flight operations and grounded its three affected aircraft – 5NMJF, 5NMJQ, and 5NBKX -.
The Chief Executive Officer of Arik Air Limited, Capt. Roy Ilegbodu, announced the resumption of the airline’s flight operations in a statement on Thursday in Lagos.
READ ALSO: Keyamo gives NAMA go-ahead to ground Arik Air planes over $2.5m debt
The statement read: “During our brief pause, we have been dedicated to ensuring a smooth and seamless return to service, preparing to welcome you back on board with the comfort and reliability you expect from us.
“Our entire team has been working tirelessly to enhance your travel experience. From our friendly ground staffers to our attentive flight crews, everyone at Arik Air is ready and eager to serve you again.
“Whether you are traveling for business or leisure, you can rely on Arik Air to get you to your destination, smoothly and comfortably.”
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