Economy
FCTA to Reward High Impact Entrepreneurs
By Adedapo Adesanya
The federal government has stated that the Federal Capital Territory Administration (FCTA) has identified the Small and Medium Scale Enterprises (SMEs) as an important component in the nation’s stride towards economic growth and development.
The Minister of State for FCT, Mrs Ramatu Tijjani Aliyu, assured that the FCT Administration would continue to reward high impact entrepreneurs who had done very well in the various business-related contests under the supervision of the Abuja Enterprise Agency.
Mrs Aliyu, who spoke at the induction and award ceremony of the Institute of Sales and Marketing Management of Nigeria, also affirmed that the Abuja Enterprise Agency remains the administration’s vehicle for entrepreneurial and wealth creation as encapsulated in the FCT Economic Empowerment and Development Strategy.
In a statement by her Special Adviser on Media, Mr Austine Elemue, the Minister, who was represented by the Director Inspectorate, Planning and Monitoring, Area Councils Services Secretariat, assured that the administration is leaving no stone unturned towards ensuring that MSMEs are not encumbered with business support challenges in the territory.
She used the occasion to reiterate that in over 10 years of supporting businesses in the FCT, the Agency has assisted over 73,450 individuals and businesses, adding that 90 per cent of whom are women and youths with critical business support such as business clinics, access to finance, workspace, market linkage amongst others.
The minister further stressed, “The agency has also supported 31,100 rural entrepreneurs in 160 communities with capacity building trainings, access to finance, provision of equipment and other critical areas. These are just some of the few achievements the Agency has attained over the years”.
While speaking on the theme of the induction ceremony; “Rewarding High Impact Entrepreneurs”, the minister noted that the theme was not only apt but also in line with the vision of government ease of doing business.
Mrs Aliyu, therefore, commended the institute for representing thousands of sales professionals from every sector of the economy, industry and commerce.
On his part, the President-in-Council Institute of Sales and Marketing Management of Nigeria, Mr Awulu Mutkari, said that since the establishment of the institute by Act of parliament in 2007, the institute has been active in its advisory role to government in policy formulation on trader matters.
Mr Mutkari, who was represented by Mr Yakubu Ochefu, also stated that apart from individuals, the institute has also been conducting in-house training for sales and marketing staff of corporate bodies who want to sharpen the skills of their employees to engage them in strategic revenue drive that would increase corporate earnings.
He, therefore, called on corporate bodies and other individuals to leverage the Abuja office to train or re-train their staff for professional efficiency, stressing that the unique training offered by the institute exposes students to rigorous educational and industrial on-field opportunities.
Economy
46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.
The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.
Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.
A look at the price changes of shares in the five-day trading week showed that
46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.
UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.
On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.
As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.
Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.
Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.
Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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