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Nigerian Stock Exchange delivers biggest single jump in 2019

The @nsecontact had its best performance this year as the All Share Index gained 3.68% today.



stock, market, stock market, Nigerian Stock Exchange

The Nigerian Stock Exchange  had its biggest daily rise so far in 2019 today. The All Share Index closed at 31,307.00 basis points, up 3.68%.

Year to date however, the index remains in the red, down 0.39%.

Top Gainers: Ecobank Transnational Inc was the best performing stock today. The stock gained 10.00% to close at N12.10. United Bank for Africa Plc gained 9.65% to close at N6.25. Courteville Business Solutions Plc gained 9.52% to close at N0.23. Access Bank Plc gained 9.48% to close at N6.35. Finally, UAC of Nigeria Plc rounds up the top five gainers for today by gaining 9.45% to close at N6.95.

Top Losers: On the flip side, Eterna Plc was the worst performing stock, declining by 8.75% to close at N3.65. PZ Cussons Nigeria Plc fell by 4.71% to close at N8.10. Nigerian Aviation Handling Co Plc fell by 3.64% to close at N3.18. Flour Mills of Nigeria Plc fell by 2.91% t close at N13.35. Fidelity Bank Plc rounds up the top five losers for the day by shedding 1.12% to close at N1.77.

Top Trades by Volume: Guaranty Trust Bank Plc was the most actively traded stock today. 67.1 million shares valued at N2.14 billion were traded in 276 deals. Zenith Bank Plc was next with 52 million shares valued at N1 billion traded in 551 deals. FBN Holdings Plc was next with 44.68 million shares valued at N322.18 million traded in 258 deals. Access Bank Plc was next with 41.77 million shares valued at N256.46 million traded in 326 deals. United Bank for Africa Plc rounds up the top five most actively traded stocks today with 20.27 million shares valued at N123.5 million traded in 296 deals.

Corporate Actions

Livestock Feeds Plc announced the appointment of Joseph Dada as its new Non-Executive Director.

Dada’s appointment took effect from Monday, May 27, 2019.


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Covid-19: Governors to discuss distribution of vaccines today

Governors of the 36 states of the federation will today meet to discuss the sharing formula for the recently delivered Covid-19 vaccine.



Oil Price Crash: Governors to meet on budgetary and economic issues

The Nigerian Governors Forum has announced that all 36 Governors will meet today to discuss the distribution of the recently arrived 3.9 million Covid-19 vaccines through the COVAX programme.

This was disclosed by the NGF in a statement issued in Abuja on Wednesday by Mr Abdulrazaque Bello-Barkindo, the Head, Media and Public Affairs of the NGF Secretariat.

The NGF disclosed that the meeting, which would be held virtually, will commence by 5 pm.

“The meeting is of a single-item agenda, which will discuss the delivery of the COVID-19 vaccines and their distribution in the country,” he said.

What you should know

  • Nairametrics reported on Monday that 3.94 million doses of the AstraZeneca/Oxford vaccine, manufactured by the Serum Institute of India arrived at the Nnamdi Azikiwe Airport.
  • The National Primary Health Care Development Agency (NPHCDA) also released guidelines on registering for Covid-19 vaccination in Nigeria.

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Royal Academy of Engineering invests over £3.5 million in Nigeria, others

The academy has awarded over £3.5 million in 37 projects in Nigeria and across 13 African countries.



The Royal Academy of Engineering has awarded over £3.5 million to 37 projects in Nigeria and across 13 African countries to promote better training and sustainability and diversify economies.

This was disclosed by the Academy via a statement issued and seen by Nairametrics on Thursday to mark the UNESCO World Engineering Day 2021.

It stated that the Academy’s interest in partnering with partner academic institutions’ projects focused on realizing sustainable development goals.

One of such projects, according to the statement, is the renewable energy project recently embarked on by Engineering students in the University of Abuja, Nigeria.

It stated, “A new awardee of the HEPSSA programme, the University of Abuja, in a project titled “Renewable energy utilization: Accelerating diffusion of solar power systems”, seeks to address the problem of access to affordable and clean energy with a view to enable accelerated diffusion solar power systems.”

Commenting on the progress achieved in Africa, Nigerian born Engineer in the UK, Yewande Akinola MBE, who is also a member of the Royal Academy of Engineering GCRF Africa Catalyst Committee, said:

“While we see immediate improvements in skills and innovation through these programmes, the real win is establishing a framework for lasting change. This will equip communities in Africa to anticipate and plan for the challenges posed by climate change, urbanisation and economic development. The continent is transforming rapidly, and those engineering its future need the skills to think on their feet.”

Stressing the need for strategic partnerships and buy-in of stakeholders, she said, “By developing strong alliances between local partners in sub-Saharan Africa and the UK, we can enable learning, collaboration and sharing of best practice, which in turn will build skills to boost innovation. But there is much more to be done, which needs the continued support of investors and partners.”

She added that the Academy aimed to support the development of a diverse and future fit workforce across the continent.

“It is estimated that fewer than 10% of engineering posts in Africa are currently occupied by women. GCRF Africa Catalyst has worked with Women in Engineering (WomEng) to promote gender diversity across a wide spectrum of professional experience.

“WomEng’s work with Eswatini’s Registration Council for Architects, Engineers, Surveyors and Allied Professionals has resulted in seven registered female members where they initially had none. A HEP SSA project with the Institute of Engineers Rwanda also helped to increase the number of female internship applicants from 5% to 2018 to 25% in 2019,” she said.

Highlights of achievements of the Africa grants:

  • Over 2000 professionals trained by Professional Engineering Institutions across sub-Saharan Africa.
  • Over 530 student industry placements since 2013. Number of students obtaining industry internships increased from 40% to 90% over the course of one project in Zambia
  • Diversity & Inclusion initiatives have driven equal gender participation in programmes. A project from the Institute of Engineers Rwanda helped to increase the number of female internship applicants from 5% in 2018 to 25% in 2019.
  • 50 individual course curricula reviewed and improved as a result of industry-academia partnerships.
  • Almost 50 UK organisations and 400 in-country bodies involved as project partners so far.

What you should know

  • Launched in 2016, with support from the UK government’s Global Challenges Research Fund (GCRF), the Africa Catalyst initiative allows Engineers to focus on issues of specific importance to their relevant jurisdictions while facilitating good governance practices.
  • The Royal Academy of Engineering is showcasing its impact on enhancing collaboration, education, and diversity in engineering in sub-Saharan Africa, delivered through its Africa grants programmes ahead of the second UNESCO World Engineering Day for Sustainable Development on the 4th of March 2021.

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