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Economy

Bulls Tighten Grip on Nigerian Stocks by 0.62%

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By Dipo Olowookere

Transactions remained bullish at the Nigerian Stock Exchange (NSE) on Wednesday as the market further gained 0.62 percent.

This boosted the All-Share Index (ASI) by 140.53 points to 22,868.40 points from 22,727.87 points, and also the market capitalisation by N73 billion to N11.918 trillion from N11.845 trillion.

At the midweek trading session, the volume of stocks exchanged by investors increased by 4.05 percent to 277.4 million from 266.6 million, while the value decreased by 7.44 percent to N2.6 billion from N2.8 billion, with the number of deals up by 4.81 percent to 4,464 from 4,259.

For the second day running, FBN Holding emerged the most traded stock, selling 56.6 million units worth N256.9 million.

UBA transacted 52.8 million shares valued at N318.4 million, LASACO Assurance traded 24.0 million shares worth N6.3 million, GTBank exchanged 22.3 million equities valued at N470.4 million, while Zenith Bank traded 21.7 million stocks for N322.1 million.

Again, the market breadth ended positive with 14 price advancers and 12 price decliners.

MTN Nigeria topped the gainers’ chart with a price appreciation of N2.50. The telco stock closed yesterday at N107.40 per share.

Ardova gained 95 kobo to sell at N10.50 per unit, UAC Nigeria appreciated by 60 kobo to trade at N6.80 per share, Vitafoam rose by 45 kobo to finish at N4.96 per unit, while Lafarge Africa appreciated by 30 kobo to sell at N11.50 per share.

Conversely, Eterna led the losers’ log during the session, losing 23 kobo to sell at N2.16 per unit, and was followed by Zenith Bank, which depleted by 15 kobo to N14.70 per share.

University Press lost 8 kobo to trade at 97 kobo per share, Caverton fell by 5 kobo to quote at N2.30 per share, while Cornerstone Insurance declined by 4 kobo to sell at 55 kobo per unit.

A look at the sectoral performance on Wednesday showed that the oil/gas sector was the ‘star boy’, gaining 0.43 percent. The consumer goods sector rose by 0.40 percent, industrial goods index appreciated by 0.26 percent, while the banking counter gained 0.22 percent. Only the insurance space closed in red after losing 0.22 percent.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Economy

Dangote Empowers Farmers With Tools to Improve Productivity, Livelihoods

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By Modupe Gbadeyanka

To boost food security in Nigeria, Dangote Fertiliser Limited, a subsidiary of the Dangote Industries Limited, has empowered farmers in the country with the basic knowledge and tools needed to have bountiful harvests.

The company made this possible through a comprehensive training programme targeted at more than one million farmers across the country.

This is part of the organisation’s commitment to supporting small businesses, agriculture, and job creation in Nigeria.

“This programme, integral to our agricultural extension services, encompasses spot demonstrations, result demonstrations, field demonstrations, and soil sample collections.

“The training is designed to educate farmers on best practices in fertiliser application, aiming to enhance crop yields and promote sustainable farming techniques.

“By providing hands-on demonstrations and soil analysis, we strive to empower farmers with the knowledge and tools necessary to improve their productivity and livelihoods.

“This programme shows our dedication to fostering agricultural development and economic growth in Nigeria,” Ms Fatima Wali-Abdurrahman, the Senior Adviser to the president of Dangote Group, Mr Aliko Dangote, said at the 2025 Nasarawa Trade Fair Exhibition in Lafia recently.

Ms Wali-Abdurrahman, represented by the company’s National Assembly Liaison Lead, Mr Shuaibu Abdullahi, noted that partnership with the Nasarawa state chapter of the Nigeria Association of Small-Scale Industrialists (NASSI) will help create awareness and scale up small businesses.

“I am pleased to inform you that in alignment with theme of this year’s Trade Fair, the Aliko Dangote Foundation and the Bank of Industry (BoI) had entered a Memorandum of Understanding (MoU) and established a N5 billion fund dedicated to supporting micro, small, and medium enterprises (MSMEs) across Nigeria.

“This initiative aimed to create at least one million direct jobs by providing financial support to entrepreneurs engaged in manufacturing, agro-processing, and the merchandising of goods made wholly in Nigeria,” she disclosed.

According to her, the deal has benefitted cassava processors, aluminium artisans, poultry farmers, calabash carving groups, small traders, cattle rearing groups, vegetable sellers, market women and artisan groups, among others.

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Economy

China Plans Duty-Free Access to Nigeria, Others

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By Adedapo Adesanya

The Chinese government has announced plans to grant Nigeria and 52 other African nations full duty-free access to its vast consumer market, as part of its policy shift set to reshape Africa-China trade relations.

The new trade initiative, disclosed by President Xi Jinping in a letter to African foreign ministers, will extend zero-tariff treatment to 100 per cent of tariff lines for all African countries maintaining diplomatic ties with the Asian giant.

The move builds on a previous policy that benefited only 33 least-developed African nations and is part of China’s broader strategy to deepen economic cooperation with the continent amid intensifying trade tensions with the United States.

The results are already being felt as Chinese exports to Africa surged 12.4 per cent in the first five months of the year, reaching a record 963 billion Yuan ($134 billion), according to China’s Foreign Ministry.

The implementation of this policy could allow all Nigerian goods, from agricultural produce and manufactured items to solid minerals, enter the Chinese market without the burden of import duties. It could also help drive Nigeria’s exports higher and drive revenue for the country.

The announcement comes at a critical time, as over 30 African countries, including Nigeria, face the risk of being excluded from the United States’ African Growth and Opportunity Act, a preferential trade agreement that once allowed eligible nations to export goods to the US duty-free.

For Nigeria, the proposed duty-free access could significantly boost non-oil exports, especially in sectors like agriculture, textiles, solid minerals, and manufactured goods, areas where the country has long sought to diversify.

China is also trying to boost its partnership with other regions as it faces increased scrutiny and a tariff war with President Donald Trump of the United States, who has alleged unfair trade practices. This led to hikes in tariffs between both countries until they were paused recently to allow for more negotiations.

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Economy

Sterling Bank Launches N2bn Scholarship for Private University Students

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Sterling Bank

By Aduragbemi Omiyale

An initiative to provide funding support to young Nigerians studying at private universities in Nigeria has been introduced by Sterling Bank.

The financial institution is offering N2 billion under a scheme known as Beyond Education.

Sterling Bank explained that it came up with this programme to build the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.

It reflects the lender’s advocacy for organisations to shift from short-term philanthropy to long-term ecosystem development.

The Sterling Beyond Education programme will fully sponsor 600 students to study high-impact fields such as Technology, Finance, Sales, and Public Health.

It is open to young Nigerians from all 36 states and the FCT, with a merit-based and inclusive admissions process.

Candidates can nominate themselves or be nominated by others, and final selection will be determined through a public voting process open exclusively to Sterling account holders.

The pilot scheme is in partnership with Miva University, founded by renowned tech entrepreneur, Mr Sim Shagaya.

Fully accredited by the National Universities Commission, Miva is redefining higher education in Africa with scalable, affordable, and flexible programs tailored to the demands of the digital economy.

The chief executive of Sterling Bank, Mr Abubakar Suleiman, said, “Progress is not a spectator sport. While others talk about Nigeria’s potential, we are actively investing in it.

“These scholarships are direct investments in the architects of our future. We are funding the education of future leaders who will build the companies, systems, institutions and solutions Nigeria needs to thrive.”

“We’re moving beyond charity. This is about building systems that last and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country,” he added.

Also commenting, the Growth Executive for Retail and Consumer Banking Directorate at Sterling Bank, Obinna Ukachukwu, said, “This is what inclusive investment looks like.

“This initiative goes beyond access to education, it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.”

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