Rivers

Capital Market Indices Records 2.53 Percent Rise

Published

11 years ago

July 24, 2013

The Equity
Market of the Nigerian Stock Exchange (NSE) for the week ended July 19, 2013 finished on a bright note as the bulls maintained their grip on the market resulting to a straight-nine day-gaining streak.
This market upbeat was reflected in twin market indicators as both the composite index and the aggregate market capitalisation of listed equities surged by 2.53 per cent each.
In specific terms, the All Share Index (ASI) which opened the week at 37,382.49 basis points finished at 38,328.29 basis points even as the market capitalisation of listed equities firmed up by N299.53 billion to close the week at N12.138 trillion from an opening value of N11.83 trillion.
The week opened with the first trading day finishing on positive note as the market advanced by 0.90 per cent as the ASI closed at 37,720.78 basis points. The market index continued tilting southward on the second trading as it rose by 0.44 per cent even as it increased by 0.24 per cent the following day being Wednesday.
The market recorded the highest gain on Thursday with 0.95 per cent growth while it carved in marginally on Friday flaking 0.02 per cent.
The NSE 30 index which tracks 30 most capitalised stocks on the Nigerian bourse rose by 3.06 per cent to close the week at 1,812.57 points.
Also four of the NSE indices appreciated during the week with the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas and NSE –Lotus 11NSE advanced by 4.72 per cent, 1.27 per cent, 0.28 per cent, 9.37 per cent and 3.30 per cent respectively while NSE Industrial Goods and NSE Asem dropped by 0.45 per cent and 0.50 per cent in that order.
The NSE price movement chart had a total of 50 stocks which appreciated in their value up from 37 equities which recorded price appreciation the previous week. Thirty-nine dipped in their prices compared with the 47 equities that depreciated last week.
Those whose value remained flat were 105 as against 110 equities that remained constant in their prices the previous week.
The top 10 gainers were Julius Berger Nigeria Plc N13.73, Seven-Up Bottling Company Plc N10.00 Forte Oil Plc N9.42, PZ Cussons Nigeria Plc N9.14, MRS Oil Nigeria Plc N6.28, /HS Plc N1.20, Champion Breweries Plc N1.47, IPWA Plc 47 Kobo, UTC Nigeria Plc 14 Kobo and ABC Transport Plc 19 Kobo.
Conversely, the top 10 losers for the week were, Berger Paints Plc, N1.68, Points and coatings Manufacturers Plc 23 Kobo, Costain (WA) Plc 24 Kobo, Portland Paints and Products Nigeria Plc 80 Kobo, Trans-Nationwide Express Plc 27 Kobo, Jos International Breweries Plc 11 Kobo, Academy Press Plc, 20 Kobo, ARBICO Plc 62 Kobo, Nigerian-German Chemical Plc 81 Kobo, B.O.C. Gases Plc 73 Kobo and Pharma Deko Plc 20 Kobo.
A total market volume of 1.886 billion units of shares valued at N15.536 billion were recorded during the week under review in 28,619 transactions up from a total of 1.674 billion units of shares worth N18.266 billion exchanged by investors the previous week in 25,367 trades.
In volume terms, the financial service sector emerged first on the activity chart accounting for 763.653 million units of shares valued at N7.276 billion exchanging hands in 14,740 deals indicating 40.50 per cent, 46.83 per cent, 51.50 per cent of the overall equity turnover volume, value and deals.
It was followed by the conglomerates sector with a turnover volume of 704.825 million units of shares 704.825 million units of shares at the value of N1.137 billion recorded in 1,122 deals contributing 37.38 per cent, 7.32 per cent and 3.92 per cent to the total equity turnover volume, value and number of deals respectively.
With a turnover volume of 169.556 million units of shares worth N335.382 million recorded in 943 deals, the million recorded in 943 deals, the services sector emerged third on the week’s activity chart.
Trading in the shares of Transnational Corporation of Nigeria Plc (Transcorp), ABC Transport Plc and FBN Holdings Plc accounted for 900.568 million units of shares valued at N2.693 billion executed in 3,714 deals contributed to 47.76 per cent, 17.33 per cent and 12.98 per cent to the total equity turnover volume, value and deals in that order.
Meanwhile according to the National Bureau of Statistics (NBS) the drop in inflation rate last week shot pushed up the price of bond but the FGN bond reduced as bond yields and prices moved in the opposite direction.
The Nation’s Consumer Price Index (CPI) for June fell to 8.4 per cent compared to the 9 per cent it stood in May, the NBS stated. It noted that core and food indices in June averaged 8.9 per cent and eight per cent respectively as against the 12.5 per cent and 14.1 per cent it attained the previous month.
The drop in inflation rate, according to NBS was due to “slower rise in all Classification of Individual Consumption According to Purpose (COICOP) classes except the food and non-alcoholic beverages class”.
The 4 per cent FGN April 2015 rose marginally as it closed at N85.96 as against N85.33 it sold the previous week while the 15.10 per cent FGN April 2017 paper closed at N105.70 last week from an opening price of N104.70 the preceeding week. Also, the 10.70 per cent FGN May 2018 finished higher at N90.47 compared with an on-board price of N89.82.

Rivers

Emulate Fubara’s Transformation Agenda, LG Boss Urges S’South Leaders … Calls For Investment In N’Delta

Published

3 days ago

December 20, 2024

The Tide

Chairman of Opobo/Nkoro Local Government Area of Rivers State, Dr Enyiada CookeyGam has called on leaders in the South-South states of Nigeria to emulate the Rivers State Governor, Sir Siminalayi Fubara, in evolving policies that would transform and develop their various states, and the Niger Delta region in general.

This, he said, they should, do through industrialization and infrastructure development of their respective states.

Speaking with newsmen recently in Port Harcourt on the performance of the Fubara-led administration and pace of development in the State, CookeyGam also urged Niger Delta sons and daughters to see the need to woo investors to invest in the zone to enhance aggressive infrastructural and human capital development.

He expressed the need for Governors in the zone, stakeholders and leaders at all levels to pull their resources together and establish industries in their different areas, which will ultimately manifest in the region.

“Unity of purpose with shared motivation, mutual survival and benefits would offer us the opportunity to pull our resources, talents, and ideas together for the well-being of the people of the States and region”, CookeyGam said.

According to him, within the past one year of his governance, Fubara has instituted many transformational projects and development programmes that has direct bearings on people’s lives.

He said, “on assumption of office in 2023, Fubara was confronted with the challenges of uplifting the living standard of the people of the state, but with the support and collaboration of stakeholders in the state, he was able to ease the financial plight of Rivers people.

“Fubara is ready to woo investors into the state, with varieties of industries that will create employment opportunities for the people of the state, in terms of human capital development, industrialization, entrepreneurship, health, education, agriculture and other sectors.

“Fubara is poised to attract participation of the private sector and divest government interest to private sector, hitch has resulted in the State being rated as the fastest developing economy in Nigeria”.

CookeyGam, who said South-South governments should provide industries and infrastructure to develop the region, lamented that in spite of the federal allocation to states, governments in the region failed to harness the economic opportunities of the zone.

He recalled that visionary leaders such as Fubara, former governors of Rivers State, Dr. Peter Odili and Rt. Hon. Chibuike Rotimi Amaechi performed well in developing the state through the provision of infrastructure and the setting up of industries.

“Leadership must create environment that would compliment the efforts of others”, he said, and appealed to Niger Delta people to rally support for their Governors to help them develop the region for posterity.

Bethel Toby

Rivers

Group Urges Consistency, Diligence In Nigerian Youths

Published

3 days ago

December 20, 2024

The Tide

The Chief Executive Officer of Young Founders Business Reality TV Series, Mr. Reuben Ebitari T. has advised Nigerian Youths to be consistent and diligent in order to succeed in any business venture.

The CEO who stated this during the launch of the organization in Port Harcourt, described diligence and consistency as necessary for success.

Mr. Ebitari stated that his organisation’s goals were to empower young entrepreneurs, provide training and mentorship to scale their business ideas into sustainable ventures.

He explained that he knew that there were people who genuinely wanted to engage in business but the fund to start was not available, noting that such individuals were the target of his organisation.

He stated that the sponsorship for the project was drawn from their individual contributions as members of the group and expressed hope that government, corporate bodies and individuals would partner with his group to achieve desired goals.

According to him, we are looking forward to expand the project.

He, however, expressed misgivings that his organization would be able to reach those that had little or no education, saying that today’s world was technology-driven.

Also speaking, a prominent and founding member of the group, Queen Adaeze Chineme, hailed the objectives of the organization.

She said her organization was inspired by its passion for empowering the youths.

She emphasized that there was need to provide capital for Youths who genuinely want to engage in business ventures.

Miss Chineme said primarily the beneficiaries of their capital support would be drawn from those with existing business outfits and noted that youths from 18 to 35 years were eligible.

She also called on government, corporate bodies and individuals to support the venture.

Rivers

Immunization: Rivers Records Decrease In Women, Infant Mortality … As OPTS Donates Cold Chain Refrigerators To PHCMB

Published

3 days ago

December 20, 2024

The Tide

Rivers State has recorded reduction in mortality of infants, children, and women who die during pregnancy and childbirth.

The State Commissioner for Health, Dr. Adaeze Oreh, who disclosed this, Tuesday, during a media briefing, in Port Harcourt, by the Primary Healthcare Management Board (PHCMB), at the donation of World Health Organisation (WHO) Prequalified Cold Chain Refrigerators, said the decrease spans the last three months.

According to her, an analysis of relevant data in the last three months from which report was presented to the State’s Deputy Governor, Prof. Ngozi Odu, who is the Chairman of the Rivers State Primary Healthcare Taskforce, showed an increase in immunisation, which resulted in the decrease in the mortality of infants, children, and women in the State.

“As we were analysing the data in the last three months, and providing report to Her Excellency, the Deputy Governor, Prof. Ngozi Odu, we were pleased and delighted to share with her and onward to the State Executive Council that we have seen an increase in immunisation coverage by virtue of the work the management and staff of the PHCMB have been doing.

“Significant increase in immunisation coverage, reduction in mortality and in newborns, in infants, below the age of one, and children under the age of five”, she said.

Dr. Oreh continued that beyond the stated reductions, there were also “reductions in the number of women who died during pregnancy and childbirth”.

In spite of these, however, the Health Commissioner emphasized the need to sustain efforts being made to ensure that “we get to the point in Rivers State where there are no Zero Dose Children, that there are no more children who don’t have access to vaccines appropriate for their age to save their lives from common childhood illnesses that threaten their survival”.

Making the donation of the WHO Prequalified Cold Chain Refrigerators, the Executive Director, Oil Producers Trade Section (OPTS), the donor of the refrigerators, Mr. Gwueke Ajaifa, said the donation is in the spirit of giving back to the people.

Noting that OPTS is an association of oil and gas companies in Nigeria, comprising five International Oil Companies (IOCs), and 25 Nigerian Companies, Ajaifa explained the reason for the donation.

“As individual companies, we recognise the need to take care of the people who live in our communities, because without healthy communities, there can be no progress in terms of business.

“Individual companies have been reaching out to the State, but collectively, we also see the need to reach out and ensure that we take care of our people, and Rivers State is one of the States we believe deserves our attention.

“So, this equipment has been donated to support the immunisation programme, in order to maintain the potency of vaccines, because it’s important that we store them properly”, Ajaifa stated.

Explaining the function of the WHO Prequalified Cold Chain Refrigerators, the State Immunization Officer, Dr. Inwom Joseph Urang, said it’s basically to maintain the potency of the vaccines.

“When vaccines are brought, we maintain their potency at a particular temperature, usually +2 to +8 degrees centigrade. So, you don’t allow the temperature to go beyond that.

“Once the temperature goes beyond that, the potency of the vaccines might be compromised. So, we need this equipment to actually help us maintain these vaccines.

“If anything happens to the Cold Chain, we call it ‘breakage of the Cold Chain’. Once the Cold Chain is broken, the potency of the vaccine is gone. Instead of the vaccine being a life-saver, it will now be a killer.

“This is a modern equipment with ten years warranty”, Dr. Urang explained.

Sogbeba Dokubo