The Nigerian Stock Exchange (NSE) has announced the commencement of the recruitment process for its Graduate Trainee Programme (GTP).
The NSE Graduate Trainee Programme is an 11-month intensive programme, designed to groom talents and raise a new generation of leaders for the capital market and the Nigerian economy.
Why you should apply: Combining theoretical insights and hands-on approach, the GTP offers successful applicants a unique opportunity to learn and grow their career in the capital market. Participants are provided an avenue to garner exposure and be mentored by professionals in different facets of the capital market and the finance industry.
Joining the GTP will position you on the right path to career success in the Nigerian capital market. Graduate Trainees are expected to be a logical and strategic thinker, proactive, tenacious, energetic, hard-working. They must also possess a positive attitude to work and be team leaders and players who are willing to lead the growth of the capital market in Nigeria, Sub-Saharan Africa, and Africa at large.
Qualification criteria: To apply for a job at NSE under this programme, the followings are expected to be in your favour:
- Graduates from Nigerian and Foreign Universities.
- Bachelor’s Degree in any discipline.
- Minimum of Second Class Upper Division (2.1).
- Completion of NYSC between May 2018 and April 2019.
- Maximum age of 26 years at the time of applying for the programme.
Note the application process will close on Wednesday, June 12, 2019.
United Securities Limited changes name to Coronation Registrars Limited
United Securities Limited formally notifies its numerous customers and stakeholders of a change of name to Coronation Registrars Limited.
In line with section 30(3) of the Companies and Allied Matters Act 2020 (CAMA), United Securities Limited has formally notified its numerous customers and stakeholders that it has obtained regulatory approval from the Corporate Affairs Commission to change its name to Coronation Registrars Limited.
The disclosure is contained in a verified post on Linkedln, signed by the firm’s Secretary, Omotoyosi Kola-Ojo, and seen by Nairametrics.
What this means
In line with the recent corporate action and according to section 30(5) of the Companies and Allied Matters Act, the company has been issued a new Certificate of Incorporation by the Registrar General of the commission, evidencing the change of name.
What they are saying
A verified post by the Firm read thus: “The Public is hereby informed that United Securities Limited having passed the necessary Special Resolutions in line with Section 30(3) of Companies and Allied Matters Act 2020 (CAMA) and obtained the necessary regulatory approval of the Corporate Affairs Commission, has changed its name to CORONATION REGISTRARS LIMITED.
“The public is further informed that pursuant to Section 30(5) of the Companies and Allied Matters Act, the company has been issued a new certificate of incorporation by the Registrar General of the Commission evidencing the change of name. All stakeholders are requested to take note of the above information.”
Nigeria imported over 55% of cooking gas consumed in October 2020
55.47% of cooking gas consumed by Nigerians in October 2020 was imported, according to a recent report by the PPPRA.
Nigeria imported 55.47% of cooking gas, known as Liquefied Petroleum Gas (LPG), consumed in October 2020, with the remaining 44.53% sourced and supplied locally.
This is according to the monthly LPG supply data, provided by the Petroleum Products Pricing Regulatory Agency (PPPRA). The data confirmed steady growth in the import of LPG, compared with the previous month (19.6%) and the corresponding period of 2019 (13.2%).
- Data released by the PPPRA indicated that the total quantity of LPG both imported and sourced locally in October 2020 was 123.27 thousand Metric Tonnes in Vacuum (MT (Vac)).
- Out of this, 68.37 thousand MT (Vac) was imported, and 54.90 thousand MT (Vac) was sourced locally.
- Imports grew by 19.6% in October, compared with September and by 13.2% compared to the corresponding period of 2019.
- On the other hand, LPG sourced locally declined by 30.8%, compared with the previous month. However, it grew significantly by 219.3% compared with the corresponding period of 2019.
- NIPCO, with Port of Discharge at BOP, Apapa and PWA, Lagos, was the highest importer of the commodity into the country in October 2020, with 32.67 thousand MT (Vac) of LPG, representing 47.8% of the total import and 26.5% of total LPG supplied in the period under review.
- The other importers, according to the data, includes Matrix Energy, 12.46 thousand MT (Vac); Algasco LPG Services Limited, a subsidiary of Vitol, 13.82 thousand MT (Vac); Prudent, 5.63 thousand MT (Vac); and Hyson, 3.80 thousand MT (Vac).
- The origin of the imported LPG was the USA and Equatorial Guinea. The USA supplied 50.27 thousand MT (Vac), representing 73.5%, while Equatorial Guinea supplied 18.10 thousand MT (Vac), representing 26.5%. Imported LPG was discharged at BOP, Apapa; Matrix Jetty, Warri; PWA, Lagos, and Prudent Energy Jetty, Oghara.
- NIPCO was responsible for 26.42 thousand MT (Vac) of the total 54.90 thousand MT (Vac) sourced locally in October 2020; Algasco sourced 13.20 thousand MT (Vac); Stockgap Fuels Limited sourced 8.19 thousand MT (Vac), and Rainoil sourced 7.08 MT (Vac).
- The origin of the locally sourced LPG was NLNG, Bonny and BRT. NLNG supplied 47.82 thousand MT (Vac), representing 87.1%; while BRT supplied 7.08 thousand MT (Vac) representing 12.9%. Local LPG was discharged at PWA, Lagos; Rainoil Jetty, Lagos; Lister Jetty, Apapa; and Stockgap Jetty, Port Harcourt.
What this means
The 30.8% decline in local supply compared to the previous month is particularly worrying, considering the huge proven gas reserves in the country estimated at over 200 trillion cubic feet.
However, the 219.3% increase compared to the corresponding period in 2019 may mean that all is well. The 55.1% increase in locally sourced LPG from 35.40 thousand MT (Vac) in August to 54.90 thousand MT (Vac) in October 2020 appears to further confirm there may be no cause for alarm.
Notwithstanding the improvement, the country needs to make concerted efforts towards developing facilities and capabilities needed to improve local production of LPG, since it has abundant gas reserves.
What you should know
It may be argued that efforts are being made towards improving on what is currently obtainable. In this context, Nairametrics reported that the country has increased its LPG storage capacity to 69,968 Metric Tonnes. The latest addition being the 8,400 MT Tonnes capacity built by Techno Oil in Kirikiri, Lagos.
COVID-19: AstraZeneca vaccine could be 90% effective against the virus
AstraZeneca has said that its vaccine being developed in collaboration with the University of Oxford could be 90% effective.
British pharmaceutical company, AstraZeneca, announced that the COVID-19 vaccine it is developing with Oxford University is 90% effective and also prevented 70% of trialists from falling ill.
AstraZeneca joins other major pharmaceutical companies including Pfizer and Moderna in the race to develop a vaccine for the pandemic.
What they are saying
Oxford University said it could be 70.4% effective and tests on two dose regimes show that it could be is 90%.
The company expects to have up to 200 million doses by the end of the year and produce up to 700 million doses by the first quarter of 2021.
The new vaccine also answers issues of vaccine storage and distribution, as it can be kept at basic refrigerator temperature for transport, making it much easier to transport, compared to Moderna and Pfizer’s vaccines.
What you should know
Nairametrics reported earlier this month that Pfizer Inc disclosed that its experimental vaccine, which is jointly developed with BioNTech was more than 90% effective in preventing COVID-19, based on initial data from a large study, in the ongoing phase 3 trials.
Last week, Pharmaceutical company, Moderna Inc, stated its COVID-19 vaccine is 94.5% effective in treating coronavirus, after preliminary analysis of a large late-stage clinical trial.