…As FG, Kano state govt. sensitise 600 empowered beneficiaries of APPEALS on business plans***
The Nigerian Stock Exchange (NSE) resumed trading for 2020 on a positive trend, with investors gaining N12 billion while the benchmark index appreciates by 0.10 per cent, following renewed interest in MTN Nigeria stock.
Specifically, the All-Share Index which opened trading for the year on Thursday at 26,842.07 rose by 25.72 points or 0.10 per cent to close at 26,867.78; while, market capitalisation inched N12 billion to close higher at N12.970 trillion against N12.958 trillion on Tuesday.
Market sentiment, as measured by market breadth, was positive with 21 gainers compared with 13 losers.
MTN Nigeria Communications led the gainers’ table for the day, appreciating by N4 to close at N109 per share.
Dangote Sugar followed with a gain of 40k to close at N14, while FBN Holdings gained 35k to close at N6.50 per share.
UACN added 30k to close at N8.90, while Vitafoam also increased by 30k to close at N4.70 per share.
Conversely, Seplat recorded the highest loss for the day, shedding N65.70 to close at N592.10k per share.
Lafarge Africa trailed with a loss of N1.60 to close at N13.80, while Unilever was down by N1.30 to close at N20.70 per share.
Stanbic IBTC declined by N1 to close at N40, while Glaxo SmithKline decreased by 60k to close at N5.50 per share.
FBNH was the most traded stock by volume at 60.27 million shares valued at N384 million.
Access Bank followed with an account of 33.54 million shares worth N335.58 million, while Zenith Bank traded 30.91 million shares valued at N578.18
United Bank for Africa exchanged 28.17 million shares worth N202.59 million, while Guaranty Trust Bank sold 18.89 million shares valued at N553.42 million.
In all, investors bought and sold 264.10 million shares worth N5.23 billion in 3,178 deals.
This was in contrast with a turnover of 1.05 billion valued at N5.49 billion achieved in 2,445 deals on Tuesday.
Meanwhile, the Federal Government in collaboration with the Kano State Government has organised a sensitisation workshop on business plans for 600 farmers, selected to be empowered in Kano.
The beneficiaries were selected among the 1,600 participants for empowerment by the Federal and Kano State governments through the Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS) project.
The APPEALS is a World Bank group with a unique global partnership of five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
Its membership consists of 189 countries of the world with offices in 130 locations including Nigeria.
Declaring the one- day workshop opened on Thursday, the Nigerian APPEALS Coordinator in Kano, Alhaji Hassan Ibrahim said that the sensitisation was to provide the beneficiaries with the knowledge of how to start and manage their businesses.
He said that the sensitisation followed three-weeks training for the beneficiaries on fisheries, poultry farming and rice production.
According to him, the APPEALS project, which is funded by the World Bank, was to support President Muhammad Buhari’s commitment of boosting the agricultural sector in the country.
He said that such would also contribute in increasing the exportation of goods to other countries, especially with the Federal Government initiative of Agricultural Promotion Policy aimed at boosting the sector.
Ibrahim said “APPEALS is ready to disqualify any beneficiaries found working as the empowerment programme, is only meant for the unemployed youths and women.’’
He said that each of the 600 selected participants was expected to be given N2.5 million for the implementation of their chosen businesses.
“The project is not only aimed at improving the sector for domestic use, but also for exportation.
“Therefore, we introduced modern methods of farming and improved seeds, for increase production and productivity.
“With the introduction of the improved seeds and modern farming method, especially for rice, wheat and tomatoes, it will assist the farmers to spend less and at the end of the harvest have increased production,“ he said.
According to Ibrahim, in an effort to encourage the tomato farmers in Kano, APPEALS has reached an agreement with Dangote Tomatoes Company to buy the products when produced.