Economy
Heart Disease: WHO Wants Higher Tax on Tobacco
By Dipo Olowookere
**Says Tobacco Kills 1.9 million People Yearly
About 1.9 million people die from tobacco-induced heart disease every year, while smokeless tobacco is responsible for around 200,000 deaths from coronary heart disease per year, with e-cigarettes raising blood pressure and increases the risk of cardiovascular disease, a study has shown.
Ahead of the World Heart Day, marked on September 29, tobacco users have been urged to take immediate action and quit smoking so as to reduce their risk of heart disease by 50 per cent after one year.
Also, governments have been urged to help tobacco users quit by increasing tax on tobacco products, enforcing bans on tobacco advertising and offering services to help people give up tobacco.
According to the report by the World Health Organisation (WHO), World Heart Federation and the University of Newcastle Australia, just a few cigarettes a day, occasional smoking, or exposure to second-hand smoke increase the risk of heart disease.
The report warned tobacco users to quit and avoid a heart attack, stressing that smokers are more likely to experience an acute cardiovascular event at a younger age than non-smokers. It was noted that about 20 per cent or one in five of all deaths from heart disease is linked with smoking.
“Given the current level of evidence on tobacco and cardiovascular health and the health benefits of quitting smoking, failing to offer cessation services to patients with heart disease could be considered clinical malpractice or negligence.
“Cardiology societies should train their members in smoking cessation, as well as to promote and even drive tobacco control advocacy efforts,” said Dr Eduardo Bianco, Chair of the World Heart Federation Tobacco Expert Group.
It was stated that high blood pressure and heart disease increase the risk of severe COVID-19 as a recent WHO survey found that among people dying of COVID-19 in Italy, 67 per cent had high blood pressure and in Spain, 43 per cent of people who developed COVID-19 were living with heart disease.
“Governments have a responsibility to protect the health of their people and help reverse the tobacco epidemic.
“Making our communities smoke-free reduces the number of tobacco-related hospital admissions, which is more important than ever in the context of the current pandemic,” said Dr Vinayak Prasad, Unit Lead of the WHO No Tobacco Unit.
By Dipo Olowookere
Christmas came early for the Nigerian Exchange (NGX) Limited as it extended its positive run on Tuesday with a 0.82 per cent growth.
The last trading session before Christmas was bullish as investors embraced Santa Claus rally, mopping up shares with sound fundamentals across the key sectors of the bourse.
During the session, the insurance index appreciated by 1.49 per cent, the banking space expanded by 0.98 per cent, the consumer goods counter improved by 0.49 per cent, the industrial goods counter gained 0.15 per cent and the energy sector jumped by 0.14 per cent.
Consequently, the All-Share Index (ASI) went up by 829.88 points to 102,186.03 points from 101,356.15 points and the market capitalisation grew by N503 billion to N61.944 trillion from N61.441 trillion.
MRS Oil gained 10.00 per cent to trade at N217.80, Ikeja Hotel improved by 9.95 per cent to N11.05, Multiverse advanced by 9.90 per cent to N5.55, SAHCO rose by 9.84 per cent to N30.70, and John Holt increased by 9.69 per cent to N6.45.
Conversely, Thomas Wyatt shed 10.00 per cent to quote at N1.71, Caverton shrank by 7.35 per cent to N2.27, Coronation Insurance declined by 5.03 per cent to N1.70, Haldane McCall slipped by 5.00 per cent to N4.75, and Livestock Feeds moderated by 5.00 per cent to N3.80.
When the market ended for the session to resume on Friday, 37 stocks were on the gainers’ chart and 21 stocks were on the losers’ table, representing a positive market breadth index and strong investor sentiment.
A total of 431.8 million shares worth N18.3 billion in 8,369 deals during the session compared with the 503.2 million shares valued at N16.3 billion in 12,490 deals, indicating a rise in the trading value by 12.27 per cent and a decline in the trading volume and number of deals by 14.19 per cent and 32.99 per cent, respectively.
The busiest equity for the session was UBA with 51.2 million units valued at N1.9 billion, Universal Insurance exchanged 49.6 million units for N25.1 million, C&I Leasing transacted 37.2 million units worth N134.0 million, Dangote Cement traded 34.3 million units worth N11.1 billion, and GTCO sold 17.4 million units valued at N1.0 billion.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.06 per cent gain on Tuesday, December 24, with the market capitalisation increasing by N620 million to close at N1.032 trillion compared with the N1.031 trillion it ended a day earlier.
Business Post reports that the NASD Unlisted Security Index (NSI) added 1.81 points to wrap the session at 3,011.59 points compared with 3,009.78 points recorded in the previous session.
The expansion recorded by the alternative stock exchange was triggered by Geo-Fluids Plc, which grew its price by 41 Kobo to N4.61 per unit from N4.20 per unit.
However, the price of UBN Property Plc went down by 20 Kobo at the Christmas Eve session to finish at N1.80 per share, in contrast to the N2.00 per share it ended a day earlier.
Yesterday, the market participants completed eight deals compared with the 31 deals carried out in the preceding trading session, representing a decline of 74.2 per cent.
In the same vein, the volume of securities traded in the session shrank by 38.9 per cent to 5.3 million units from the 8.3 million units recorded in the previous trading day, as the value of transactions decreased by 40.0 per cent to N23.8 million from N39.6 million.
At the close of business, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units sold for N4.0 billion, Okitipupa Plc came next with 752.4 million units valued at N7.8 billion, and Afriland Properties Plc occupied the third position with 297.7 million units worth N5.3 million.
Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.4 million units valued at N7.8 billion, and Afriland Properties Plc with 297.7 million units sold for N5.3 billion.
The market will be closed for two days – December 25 and 26 – to mark the Christmas holidays and trading will resume on Friday, December 27.
By Adedapo Adesanya
The value of the Naira witnessed a depreciation of 0.07 per cent or N1.10 against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Tuesday, December 24.
Data showed that the exchange rate of the local currency to its American counterpart closed on Christmas Eve at N1,540.65/$1, in contrast to the N1,539.55/$1 it was traded on Monday.
Similarly, the domestic currency weakened against the Pound Sterling in the official market yesterday by N7.44 to sell for N1,954.07/£1 compared with the previous day’s value of N1,946.63/£1 and against the Euro, it lost N3.16 to settle at N1,614.89/€1 versus the preceding day’s N1,611.73/€1.
Market analysts noted that the access of Bureaux de Change (BDCs) to the Central Bank of Nigeria’s-backed Electronic Foreign Exchange Matching System (EFEMS) platform has continued to keep a lid on the rates.
Also, increased December activity through the influx of tourists has helped strengthen the demand for the local currency.
In the black market on Tuesday, the Nigerian Naira appreciated against the greenback by N5 to sell at N1,650/$1 compared with the N1,655/$1 it was transacted a day earlier.
Meanwhile, the cryptocurrency market experienced a Santa rally during the trading session, with Bitcoin (BTC) rising by 4.1 per cent to quote at $98,152.89, and Dogecoin (DOGE) growing by 3.4 per cent to sell at $0.3327.
Further, Solana (SOL) jumped by 3.1 per cent to trade at $198.50, Ethereum (ETH) improved its value by 2.8 per cent to close at $3,498.25, Binance Coin (BNB) went up by 2.2 per cent to settle at $703.87, Cardano (ADA) rose by 2.1 per cent to finish at $0.9208, Ripple (XRP) expanded by 1.8 per cent to end the day at $2.29, and Litecoin (LTC) recorded a 1.7 per cent rise to trade at $108.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
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