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Stock Market: Forte Oil leads losers’ chart on Thursday

Forte Oil Plc, was the worst performing stock in Thursday’s trading session on the floor of the Nigerian Stock Exchange (NSE).

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Forte Oil Plc was the worst performing stock in Thursday’s trading session on the floor of the Nigerian Stock Exchange (NSE). The oil firm was followed by Honeywell Flour Mill Plc, Custodian and Allied Insurance Plc, Guaranty Trust Bank Plc, and Dangote Flour Mills Plc.

While the value of Forte Oil stock declined by 6.78% to close at N15.8, Honeywell Flour Mill Plc fell by 5.94% to close at N0.95, Custodian and Allied Insurance Plc, Guaranty Trust Bank Plc, and Dangote Flour Mills Plc, all fell by 4.76% to close at N6, 1.06% to close at N27.95, and 0.45% to close at N22.2 respectively.

Meanwhile, trading at the bourse ended Thursday in positive territory as the All-Share Index closed at 27,579.85 basis points, up by 1.09%.

Top Gainers: Nestle Nigeria Plc earned the best-performing stock, as it gained 10% to close at N1336.5, followed by Seplat Petroleum Development Co Plc gained 10% to close at N506. Total Nigeria Plc gained 10% to close at N110, Access Bank Plc gained 6.94% to close at N7.7. Dangote Sugar Refinery Plc rounded off the top five gainers for the day. The stock gained 1.87% to close at N10.9.

[READ MORE: Stock Market: Custodian, IB, Access, others lead gainers’ chart]

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Top Trades by Volume: Access Bank Plc was most actively-traded stock today. 67.31 million shares valued at N509.82 million were traded in 389 deals. Guaranty Trust Bank Plc was next with 23.15 million shares valued at N651.69 million were traded in 278 deals, followed by Transnational Corporation of Nigeria Plc with 14 million shares valued at N14.28 million traded in 53 deals.

Lafarge Africa Plc was next with 10.43 million shares valued at N156.62 million traded in 44 deals. FBN Holdings Plc rounded off the top five most actively traded stocks today with 8.73 million shares valued at N47.93 million traded in 147 deals.

Corporate Actions

Anino International Plc released its audited financial statements for the year 31st December 2016, on the NSE site.

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Its Profit/(loss) after tax declined from N3.87 million in 2015, to N1.43 million in 2016. Reducing by 63%. Also, Earnings per share decreased from 7.57 kobo in 2015 to 2.80 kobo in 2016.

The company also released its audited financial statements for the year ended 31st December 2017 and 31st December 2018 respectively.

[READ MORE: The Stock Market has started off the week on a rather sad note]

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Energy

NNPC to provide free conversion services to motorists to switch from PMS to autogas

The NNPC has revealed plans to help motorists switch from Premium Motor Spirit (PMS) to Autogas.

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The Nigerian National Petroleum Corporation (NNPC) has disclosed that it is going to provide free conversion services in some selected NNPC retail filling station in the country.

This is part of the effort of the corporation aimed at assisting interested motorists to switch from Premium Motor Spirit (PMS) popularly known as petrol to Autogas as the Federal Government rolls out an autogas programme called the National Gas Expansion Programme.

This was disclosed by the Group Managing Director of NNPC, Mele Kyari, on Tuesday, December 1, 2020, while delivering his address at the Presidential Virtual Rollout of the National Gas Expansion Programme (NGEP).

While delivering his address, Kyari pointed out that the areas of focus with existing Autogas service stations include the Federal Capital Territory Abuja, Kaduna, Kano, Kogi, Kwara, Ogun, Ondo, Oyo, Lagos, Edo, Delta, Rivers and Bayelsa States.

The statement from Kyari partly reads, ‘’To support this effort, NNPC is providing free conversion services in some selected NNPC retail filling stations to assist interested motorists switch from PMS to Autogas, especially in areas with existing Autogas service stations in the Federal Capital Territory Abuja, Kaduna, Kano, Kogi, Kwara, Ogun, Ondo, Oyo, Lagos, Edo, Delta, Rivers and Bayelsa States.’

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The NNPC boss revealed that the state-owned oil corporation is expanding this initiative to all NNPC retail filling stations across the country, while also assuring motorists of steady availability of Autogas at competitive prices.

He also said that NNPC is expanding its natural gas footprint across the country in order to support industrialization and job creation through its various ongoing gas infrastructure projects which includes Obiafu-Obrikom-Oben (OB3) gas pipeline project connecting East and West.

Others are Escravos-Lagos Pipeline System (ELPS 11 which is expected to boost supply to the western corridor and the AKK gas pipeline that will supply gas to Abuja, Kaduna and Kano states.

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What you should know

  • President Muhammadu Buhari today performed the virtual rollout of autogas programme called the National Gas Expansion Programme. The programme, which involves the conversion of fuel-powered cars, generators from petrol to gas, is aimed at deepening domestic usage of natural gas in its various forms.
  • The programme is also in line with the Federal Government’s plan to make gas the first choice source of cheaper and cleaner energy. This follows the deregulation of the downstream sector of the oil industry with sharp increases in prices of petrol.

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Energy

Just-in: Senate confirms 6 NERC commissioners, drops Chairman-nominee

Six nominees for the board of the Nigerian Electricity Regulatory Commission (NERC) have been confirmed as commissioners.

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The Nigerian Senate has confirmed the nomination of six members for the board of the Nigerian Electricity Regulatory Commission (NERC) as commissioners.

The legislators also dropped, Prof. Akintunde Akinwande, the nominee for the Chairman position due to his absence from the screening.

This was disclosed by the senate committee on Power, Steel Development and Metallurgy on Tuesday.

The confirmed nominees are Sanusi Garba (North-West) as vice-chairman; with Nathan Rogers Shatti (North-East), Moses Arigu (North-Central), Dafe Akpedeye (South-South), Frank Okafor (South-East) and Musiliu Oseni (South-West).

The committee recommended that President Muhammadu Buhari present another nominee to replace Akinwande.

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Details soon …

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Coronavirus

COVID-19: NCDC issues travel advisory for the yuletide season

The NCDC has issued a public health advisory to the general public as they prepare for the festive season.

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NCDC warns Nigerians against use of chloroquine for COVID-19

The Nigeria Centre for Disease Control (NCDC) has issued a public health advisory to all members of the public to exercise caution as they celebrate the upcoming festivities – Christmas and New year.

The Commission said that it is fully aware that the yuletide season affords a number of people an opportunity to celebrate with their families and friends and as well for people to travel to visit their loved ones or attend events, but cautioned that everyone has to make necessary adjustments in social interactions in line with the reality of the pandemic to limit the spread of Covid-19.

According to the commission, “Since the first confirmed case of COVID-19 in Nigeria, just over 67,000 Covid-19 cases have been reported with just over 1,000 deaths. Most of the confirmed cases and deaths have been in urban/semi-urban cities and towns and the risk of spread remains.

“The Covid-19 virus does not spread on its own, it spreads when people move around. This means that by traveling across countries and cities, there is a higher risk of transmission, especially to rural areas where the existing health infrastructure is already weak.”

(READ MORE: Covid-19: Africa prepared for possible second wave – Africa CDC)

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Key highlights of the advisory

  • Limit all non-essential domestic and international travels.
  • As an alternative to traveling, you could still remain socially connected with friends and loved ones using mobile or video conferencing technology.
  • Hold virtual services and prayer sessions to limit the mass congregation.
  • Observe appropriate social distancing protocols and personal hygiene in all public places and events, washing of hands frequently with soap and water or using a hand sanitizer when hands are not visibly dirty and running water is not readily available.

Why this matters

The number of confirmed COVID-19 cases has continued to rise across several countries globally. Nigeria is not an exception, with the recent spike recorded in the number of confirmed cases in some major cities.

In the first wave of infections, the economy was paralyzed with lockdowns that lasted for months, and the country cannot afford a second wave which could be more catastrophic.

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