Economy
Ishaku Vows to Revive Dead Industries in Taraba
By Modupe Gbadeyanka
Governor Darius Dickson Ishaku of Taraba State has promised to do all within his power to ensure dead and ailing industries in the state get back on their feet.
Mr Ishaku made this pledge on Wednesday when a Presidential Sub Committee on Economic Development of Northeast Initiative (PCEDNI) visited him at the Government House in Jalingo to intimate him on the reason of their visit to the state and to the entire Northeast region.
Governor Ishaku reiterated his determination to reactivate the broken down industries, saying that he has already started fixing some and assured that he is determined to turn around the fortunes of the State for the better.
He said he has successfully revitalised the tea company at Kakara in Sardauna Local Government Area and is working assiduously to ensure that the rice farm in Gassol, which is the largest in Northern Nigeria commences production.
He also promised to reactivate the broken-down Lau Tomatoes as well as the sugar companies, saying it will only be feasible if the existing peace could be sustained, which involves engaging the minds actively in life transforming ventures.
The Governor expressed optimism that if people of the region were engaged in meaningful activities that will keep them busy, all forms negative vices would be a thing of the past.
Mr Ishaku lamented that when he took over as the Governor, the state was enmeshed in one conflict or the other leading to huge loss of lives and property, explaining that, the first one year was spent trying to fix peace in all the crises affected areas.
He revealed that he resorted to the use of a slogan ‘give me peace and I will give you development,’ which became an anthem at every given opportunity, adding that development is only possible if there is peace and at the moment the state is relatively calm as efforts are being made to sustain the peace currently being enjoyed.
Mr Ishaku, who described the human mind as difficult and the devil’s workshop, said he was working very hard to keep all Tarabans busy with activities so that everyone would be preoccupied with things that are positive to help better the lives of the people of the state as a whole.
Speaking on health institutions in the state, the Governor said his major concern at the moment is to address the lack of viable health centres across the state, saying that at the moment; only the state Specialist Hospital was operational.
He however stressed that even at that, he had do a lot of renovation and purchase of equipment to be able to attend to health needs of the people, revealing that the hospitals in Bambur, Gembu and Wukari would soon be renovated and equipped with modern facilities.
Similarly, he informed the committee that lack of adequate manpower in the health sector is a major problem, most especially, in the areas of nurses and other health workers, adding that retired nurses were re-engaged to complement the efforts of the few ones pending when the state’s School of Nursing will start graduating fresh nurses, which is expected to take about three years.
Earlier in his speech, the Chairman of the Sub Committee on Economic Development of the Northeast, Mr Yusuf Buba Yakub said they were in the State to ascertain the level of destructions as a result of communal and religious conflicts, insurgency and clashes between farmers and grazers with a view to assisting State.
Mr Yakub said when the committee was inaugurated on October 26, 2016, by President Muhammadu Buhari, it was mandated to work on security stabilisation and peace building, urgently look into humanitarian crisis and to rehabilitate.
He also said they are to equally resettle affected communities, reorganise the educational sector which covers infrastructure and enrolment of pupils and work out modalities that will improve the economic development of the Northeast which has been backward even before the advent of insurgency.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
