Stocks rebound by one per cent after losses
After two days loss, trading activities rebounded on the Nigerian Stock Exchange (NSE) on Thursday following investors’ interest in some highly capitalised equities.
Specifically, the market capitalisation of listed equities grew by N150 billion or one per cent to close at N15.142 trillion against N14.992 trillion posted on Wednesday.
In the same vein, the All-Share Index (ASI) inched 289.63 points, representing a growth of one per cent to close at 29,352.13 against 29,062.50 achieved on Wednesday.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, MTN Nigeria, Forte
An industrialist, Dr Charles Akhigbe, has said the N6 billion dry port being built at Obaretin, near Benin in Edo State would provide 15,000 jobs and generate N23.9bn within 10 years.
Akhigbe who is the Chief Executive Officer of the AMES-Edo Inland Dry Port spoke at the site when top officials of the Nigerian Shippers Council (NSC) visited the facility. According to him, the port when fully operational will generate about N2.3 billion in its first year of operation.
He appealed to the Federal Executive Council (FEC) to hasten approval for
Some traders in the Federal Capital Territory (FCT), have urged the Federal Government to help them secure soft loans to enable them expand their businesses.
The traders made the appeal in separate interviews with the News Agency of Nigeria (NAN), on Thursday in Gwagwalada, FCT.
Mrs Lami Gaji, a producer of tropical black soap, said that her product was of good quality and could compete with similar products globally.
Gaji, however, decried the high cost of production, especially the fees they were made to as a precondition for registration by the Standards Organisation of Nigeria (SON), and other
Oil, Lafarge Africa and Unilever Nigeria.
Speaking on market outlook, Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd, said that investors were taking advantage of price correction to increase their stake in the market.
An analysis of the price movement table shows that Livestock Feeds led the gainers’ chart in percentage terms, growing by 10 per cent, to close at 55k per share.
Forte Oil trailed with a gain 8.42 per cent to close at N20.60, while Lafarge Africa rose by 6.33 per cent to close at N15.95 per share.
Jaiz Bank inched 6.25 per cent to close at 68k, while FBN Holdings appreciated by 5.71 per cent to close at N7.40 per share. (NAN) the commencement of operational activities at the port.
Akhigbe said that FEC’s approval would fasttrack investors’ appetite to do business in Nigeria and boost nation growth.
Mrs Ala DublinGreen, Director of the South-South Zonal Coordinating Office of the NSC, assured that the Federal Government would soon grant approval for the commencement of services at the port.
She described the facility as a key project that would benefit the South-South geopolitical zone and Nigeria at large. (NAN) sister agencies.
According to her, her product enjoys good patronage, but has not been able to enjoy wide spread sales because she cannot afford the high charges for business registration.
She called on the government to give loans to petty traders, to ameliorate the financial challenges the traders were facing in running successful businesses in the country and contribute to its economic growth.
Mrs Laraba Kure, who deals on non-perishable food stuff such as beans, plantain flour and tiger nuts, said that her major challenge was the inability to access credit facilities. (NAN)