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Economy

NGX market capitalisation extends rally by N20bn

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… Consider long-term investments, NGX advises investors***

The nation’s bourse maintained positive trading on Friday, extending the gaining streak by 0.10 per cent.

Specifically, the market capitalisation which opened at N21.275 trillion increased by N20 billion or 0.10 per cent to close at N21.295 trillion.

Also, the All-Share Index inched higher by 39.21 points or 0.10 per cent to close at 40,868.36 compared with 40,829.15 posted on Thursday.

A breakdown of the price movement chart shows that 22 stocks recorded price appreciation in contrast with 16 laggards.

UPL led the gainers’ table in percentage terms, gaining 9.72 per cent to close at N1.58 per share.

Sovereign Trust Insurance followed with 9.09 per cent to close at 24k, while Caverton gained 6.33 per cent to close at N1.68 per share.

Regency Insurance rose by 5.26 per cent to close at 40k, while NPF Microfinance Bank added 5.26 per cent to close at N1.80 per share.

Conversely, Academy Press dominated the laggards’ table in percentage terms, shedding 7.69 per cent to close 36k per share.

Also read: NGX Group to list 1.96bn shares by introduction on platform

Africa Prudential trailed with 6.06 per cent to close at N6.20, while Honeywell gained 3.78 per cent to close at N3.56 per share.

Jaiz Bank dipped by 3.33 per cent to close at 58k, while Mutual Benefits lost 3.23 per cent to close at 30k per share.

FBN Holdings for the second consecutive day drove the activity chart, accounting for 154.68 million shares valued at N1.54 billion.

GTCO followed with 17.33 million shares worth N495.24 million, while Fidelity Bank traded 13.79 million shares valued at N35.87 million.

Transacorp traded 12.50 million shares worth N12.14 million, while Ecobank Transnational sold 11.55 million shares valued at N72.02 million.

In all, investors traded 331.06 million shares valued at N2.92 billion exchanged in 3,986 deals, a decrease of 59.24 per cent.

This was against a turnover of 812.29 million shares worth N10.58 billion traded in 4,863 deals on Thursday.

In another development, the Nigerian Exchange (NGX) Limited has advised investors to consider long-term investments, for maximum returns from those on listed companies.

The Head, Market Surveillance/Investigation, NGX Regulation, Mr Abimbola Babalola, gave the advice at a virtual training to commemorate the 2021 World Investor Week (WIW) by the NGX, on Friday in Lagos.

The training had as its theme: Financial Literacy: How to Start Investing in the Capital Market.

Babalola also advised investors to take out time to study the companies to stake an investor’s money on.

He said that it was advisable to visit the company’s offices, know the products, understand the risk return and attend the company’ AGM.

Babalola said financial systems are made of intricate and complex models that portray financial service institutions and markets that link fund users with investors.

He said that investors should only get associated with registered professionals for proper investment guidance to avoid unhealthy investment decisions.

Explaining the importance of the capital market to economic growth, Babalola said: “There are empirical evidences that show a strong positive relationship between economic growth and efficient capital markets.

“The development recorded in Lagos State is as a result of the government coming to the capital market to raise funds for developmental purposes.

“Local Governments can also do the same by utilising the capital market to raise funds for development as well, ” he said.

Babalola highlighted some of the benefits of being listed on the NGX as access to growth-enabling capital, broader diversification of financing options and access to long-term financing at competitive rate.

Others include higher public profit and visibility, enhanced transparency and integrity.

Mrs Bunmi Olarinoye, Executive Director and Head, Equities Dealing, Stanbic IBTC Stockbrokers Ltd., said that the purpose of setting funds aside as investments was to gain future value.

Olarinoye said it was not advisable to invest money that would be needed on a regular basis but only funds that was set aside after settling basic needs like rent, food, utilities and transport.

She also said: “At an early stage in life, one is expected to invest more in risky and none volatile securities like stocks as earnings or income is stable at that stage.

“As one draws closer to retirement, older individuals usually sway towards less risky securities like bonds where income or principal is guaranteed.

“The reasons to invest represents those things that move you to invest and what you intend to spend your profits on, like family, properties, education, vacation among others,” she added.

The newsmen report that the NGX, along with the training held series of engagements to commemorate the 2021 WIW.

WIW is a global campaign to raise awareness of investor education and protection, promoted by the International Organisation of Securities Commissions (IOSCO) and The World Federation of Exchange (WFE).

 

Economy

Unstable Economy: UK Firm Presents Solutions To Nigerian Business Leaders

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SOAN Inaugurates New Leadership, Boosting Hopes Of Crushable Inflation

Nigerian business leaders are to benefit from the programme of United Kingdom-based leadership development organisation TEXEM UK on how to win despite the exodus of staff, very high inflation and turbulent operating landscape.

TEXEM’s Director of Special Projects, Caroline Lucas, said on the organisation’s website, www.texem.co.uk, that the programme with the theme “Strategies for Sustainable Organisational Success” is slated for April 24 and April 25 in Lagos.

According to Lucas, in today’s volatile and disruptive business landscape, organisations face numerous strategic challenges.

“TEXEM’s programme, “Strategies for Sustainable Organisational Success,” offers tailored solutions to address these pressing issues.

“Senior leaders grappling with skyrocketing costs, high currency risks, and disruptive technologies require practical insights and tools to navigate uncertainty effectively.

“This programme provides actionable strategies for sustainable success amidst turbulent times,” she said.

Lucas asserts that exceptional crisis management skills are essential in the face of staff exodus and geopolitical disruptions.

“TEXEM equips participants with the necessary leadership capabilities to lead through crises, ensuring organisational excellence even amidst adversity.

“Innovation becomes imperative in turbulent waters.

“TEXEM’s programme fosters a culture of innovation and provides guidance on harnessing adversity as a catalyst for profitable growth,” she said.

According to her, participants will learn to turn challenges into opportunities, driving sustained profitability.

Lucas said resilience and effective risk management are crucial in today’s volatile landscape.

She said through interactive sessions and case studies, TEXEM helps senior leaders develop unshakable qualities, enabling them to navigate uncertainty and confidently mitigate risks.

“Optimizing resource utilisation is paramount amidst soaring costs.

“TEXEM offers insights on managing resources efficiently, ensuring optimal impact even amidst cost pressures. Decisive problem-solving is paramount.

“TEXEM enhances participants’ decision-making capabilities through peer learning and observation practice, empowering them to make better decisions that drive organisational success,” Lucas said.

She said that beyond the curriculum, networking opportunities with industry peers enrich the learning experience, abound.

“Professional exchange provides valuable insights into different approaches to overcoming challenges, enhancing overall learning and impact.

“TEXEM’s programme aims to develop leadership strategies for optimum performance in an era of uncertainty.

“By helping participants understand how to manage and deploy resources more efficiently, it equips them with the skills needed to thrive in turbulent times,” Lucas said.

Saying that adversity is the mother of innovation, she added that TEXEM empowers individuals and organisations to thrive in volatile times, fostering innovation and sustained profitability.

“At the end of the programme, participants can expect to develop leadership skills for better decision-making and possess survival skills to navigate crises effectively.

“Through its comprehensive approach and proven methodology, TEXEM ensures participants unlock their potential, foster innovation, and drive sustained profitability in today’s challenging environment,” Lucas said.

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Economy

Sanwo-Olu Urges Use of Innovative Technologies in Solving Challenges

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Sanwo-Olu Urges Use of Innovative Technologies in Solving Challenges

Gov. Babajide Sanwo-Olu of Lagos State has called for the use of innovative technologies in resolving the economic and social challenges of the country.

Sanwo-Olu said this on Wednesday during the pioneer graduation of the Lateef Jakande Leadership Academy (LJLA) at Konga Place in Lekki.

He said that the new platform of globalisation and Internet of things must be significantly employed to resolve new challenges encountered in the course of improving the living standards of citizens.

30 students, 15 men and 15 women, between 18 and 35 years, graduated from the academy after a one-year course and mentorship in leadership.

The Lagos Leadership Summit (LLS) is a pivotal platform dedicated to empowering Nigeria’s young professionals with the skills and insights essential for success in various leadership roles.

With a focus on leadership excellence, ethical governance, and youth inclusion in governance, the summit offers a unique opportunity for participants to engage with renowned leaders and industry experts.

” You have to be able to innovate for us, you are here as leaders of not tomorrow but today. Proffer solutions that the government can use as a tool, to solve the challenges that we are facing today but more importantly to solve global issues.

“And that is why we started the Lateef Jakande Leadership Academy. For us as a government, we felt how well can we honour a man than for us in public sector to set up a cream of new leaders.

“So we set up this school that has the first set, the one-year fellowship, who indeed have not only shown us that we took the right step, they have been outstanding individuals,” the governor said.

The guest speaker and former governor of Lagos State, Babatunde Fashola, noted that it was important for followers to trust their leaders for a successful outcome.

“The people need to trust the government, they must know the capability of their leaders so that when issues beyond human expectations happen, the followers can show empathy to the plight of their leaders.

” I have always been an advocate that believes that the process is as important as the result, the end shouldn’t justify the means, the process is crucial, it serves as a blueprint for others coming behind,” he said.

Similarly, Dr Obafemi Hamzat, Deputy Governor, who spoke on “Leadership And Community Engagement”, stated that to achieve effective leadership in Nigeria, there was the need to navigate complex political, economic and social landscapes.

Hamzat urged the citizens to be involved in governance while stressing the need for collaborations with private stakeholders and the public sector.

According to him, community engagement with government at all levels is pivotal to the nation’s development.

In her address, Mrs Ayisat Agbaje-Okunade, LIJA’s Executive Secretary, noted that the challenges faced required leaders who are not only capable but compassionate, visionary, and adaptable.

According to her, leadership must transcend rhetoric and manifest tangible outcomes.

“We need leaders who inspire confidence, foster unity, and drive transformation.”

Agbaje-Okunade urged the participants to embrace the responsibility that comes with leadership and pave the way for a generation of new leaders.

The keynote speaker, Mr Abubakar Suleiman, Chief Executive Officer, Sterling Bank, said that leadership is about leading people on a new purposeful journey.

Suleiman said being a strategic thinker and a transformational leader was what makes leadership different from management, adding that the future is being crafted in leadership.

“In essence, as a leader, you must be able to lead people to the future hence, you must be convincing for people to be bold to follow you, able to trust and believe in you.

“For one to be a leader, the people must be able to believe and trust you to take them to the future where you have never been to,” he said.

Also speaking, Mr Tunbosun Alake, Commissioner, Innovation, Science and Technology, stressed that leadership had nothing to do with being young or old but having good values and character.

The commissioner advised the participants to pursue excellence in their various career paths to succeed in life.

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Economy

Eid-el-Fitr: Tinubu Urges Sacrifice, Integrity For National Rebirth

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Eid-el-Fitr: Tinubu urges sacrifice, integrity for national rebirth

 President Bola Tinubu has urged Nigerians to continue to make sacrifices and exhibit integrity for national development.

Tinubu said this after observing the Eid-el-Fitr prayer at the Eid Ground at Dodon Barracks on Wednesday in Lagos.

The President also called on Nigerians to continue to have faith in his government and remain patriotic citizens.

Tinubu said that the Renewed Hope Agenda of his administration, aimed at bringing prosperity to Nigerians, was being diligently implemented.

Encouraging Muslims to extend the values of sacrifice and resilience beyond the fasting period, Tinubu emphasised the need for Nigerians to prioritise the exhibition of love for their country.

‘’The resilience and sacrifice that we have shown and made during these months should be preserved.

“Be a kind and cheerful giver. We must love our country more than any other country because this is the only one we have.

‘’We must continue to protect the integrity of our government and leadership. The Renewed Hope Agenda is alive, well and fine, and Nigerians should continue to be very hopeful. Without hope, there is no salvation.

“Without hope, there is no development. Without hope, there is no life. Eid Mubarak,’’ the President said at the end of the prayers led by the Chief Imam of Lagos State, Sheikh Sulaiman Abou-Nolla.

Earlier in his sermon, the Chief Imam urged Nigerians to shun all acts of violence, ensure peaceful co-existence, and continue to have faith in the country.

He asked those in leadership positions to remain faithful to their oaths of office and work towards alleviating the suffering of the less privileged.

‘‘Let us not forget our brothers and sisters in Gaza and other areas of conflict,’’ the Chief Imam said.

He offered prayers of God’s guidance, wisdom, and protection for the President and the Lagos State government, as well as for peace and stability in the country.

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