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The Nigerian Exchange (NGX) rebounded from its recent bearish trend, as equities surged and market capitalization saw a significant gain. This positive turnaround was led by Transcorp and NASCON. The All-Share Index (ASI) closed 0.93% higher, while the market capitalization rose by N339 billion. DANGOTE SUGAR, NASCON, and NAHCO were among the top gainers, while COURTVILLE, ABC TRANSPORT, and TANTALIZER experienced losses. Despite lower trading activity in terms of volume, OANDO emerged as the most traded equity. ZENITH BANK and GTCO performed well, while BUA CEMENT, BUA FOODS, SEPLAT ENERGY, MTN NIGERIA, DANGOTE CEMENT, and AIRTEL AFRICA remained unchanged.
The Osun Community and Social Development Agency (CSDA) has inaugurated a newly built health center and rehabilitated classrooms in Osogbo, Osun State. The facilities were provided under the COVID-19 Recovery and Economic Stimulus Program, aimed at improving healthcare and education in the community. The State Governor, Senator Ademola Adeleke, expressed his commitment to providing social amenities for the people of the state.
Kidnappers who abducted eight Akwa Ibom State graduates have demanded an additional N200 million ransom after receiving N13 million from their families. With the victims spending 26 days in captivity and their health conditions deteriorating, the families are in distress and receiving little to no government assistance. Despite resorting to prayers and fasting, the families face an overwhelming emotional and financial burden as they try to raise the demanded amount. The situation has sparked public outrage, highlighting the government's failure to protect its citizens. Security agencies and the police command's efforts for the victims' rescue remain uncertain.
The Minister of the Federal Capital Territory (FCT) has appointed Mandate Secretaries for different sectors in the FCT administration. The Minister emphasized the need for teamwork, transparency, and accountability in implementing the President's vision. The FCT Administration aims to create a world-class city that extends beyond the city center, providing progress and development in all areas. The key areas of focus include developing satellite towns, improving public transportation, creating a clean and green environment, prioritizing education, agriculture, and health sectors, and boosting the tourism sector. The Abuja Master Plan violations will also be dealt with decisively.
The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has emphasized the importance of developing satellite towns in the FCT. During the inauguration of Mandate Secretaries for the FCT Administration, he highlighted the need for progress and development beyond the city center. With a focus on transparency, efficiency, and accountability, the FCT Administration aims to achieve a world-class capital city.
Former Minister of Works and Housing, Babatunde Fashola, declares that he does not require a title to serve in the President Bola Tinubu-led administration. In an interview, Fashola emphasized the need for citizens to play their roles in advancing the nation, rather than solely seeking prestigious positions. He advocates for more public-spirited individuals to take up meaningful spaces in government, setting the stage for the next generation of leaders.
The Nigerian Exchange (NGX) closed in negative territory after equities fell by N294 billion due to the FTSE Russell downgrade of the Nigerian Stock Exchange. The downgrade prompted immediate selloffs, resulting in a plunge in equities. The All-Share Index (ASI) traded 0.80% lower, and the market capitalization of equities saw a loss of N294 billion. Several stocks experienced mixed trading sessions, with tier 1 banks recording negative sessions.
The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has emphasized the FCT Administration's commitment to developing satellite towns for the overall progress and development of the region. In the inauguration of the Mandate Secretaries, Wike highlighted the need to address various key areas, such as infrastructure, transportation, education, health, and tourism. This article explores the Administration's plans to enhance the satellite towns and improve the residents' well-being.
The Edo State Governor, Mr. Philip Shaibu, has officially resumed at his new office outside the state Government House in Benin-city. The relocation to the new office has been directed by the Permanent Secretary, Office of the Head of Service, and civil servants have already started moving in.
The United Arab Emirates has lifted the year-long visa ban imposed on Nigerian travelers, leading to the resumption of flights between both countries. The ban, which was imposed last year, has been lifted following negotiations between Nigerian President Bola Tinubu and UAE leader Mohamed bin Zayed Al Nahyan. Both Etihad Airlines and Emirates Airlines will now immediately resume flight schedules into and out of Nigeria.
Delta State Governor, Hon. Sheriff Oborevwori, has filed a Notice of Appeal at the Supreme Court against the judgment of the Court of Appeal, Abuja, which ordered the Delta State Governorship Election Petition Tribunal to hear, on merit, the petition filed by the candidate of the Labour Party (LP) in the last election, Ken Pela, challenging his election as governor.
Niger's new military leaders accuse France of planning a military intervention in the country following the coup in July. French President Emmanuel Macron says he will only take action at the demand of the deposed Nigerien leader Mohamed Bazoum. Tensions rise as Niger's junta claims France is amassing forces and considering collaboration with ECOWAS for intervention. France denies the claims but supports ECOWAS's position, while the junta asks the population to be vigilant.
Labour Party's Presidential Candidate, Peter Obi, donates N10 million towards the development of healthcare facilities in Awka. His contribution aims to strengthen the Diocese's healthcare initiatives and support the Department of Midwifery and Public Health Nursing at the Millennium College of Nursing Sciences. Obi's commitment to the overall project and his willingness to secure funding from his connections highlight his dedication to the betterment of society.
A Nigerian lady traveling to London onboard Egypt Air flight tragically passed away during the journey. The airline confirmed the incident by dropping off the woman's body in Cairo, Egypt. The family, who received the news from the consular office in Cairo, is now seeking answers and assistance in repatriating the deceased back to Nigeria.
The Nigerian stock market experienced a decline as indigenous investors took over the market following the withdrawal of foreign investors. The market index fell by 0.3% due to heavyweights' inflated valuations and consecutive days of selloffs. Despite mixed market activities, the Industrial and Consumer Goods sectors suffered losses, while the Banking sector recorded a slight appreciation. MORISON emerged as the top loser, while BETAGLAS saw the highest price appreciation. Overall, market capitalization declined by N112 billion as indigenous investors dominated the Nigerian index.
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