Economy
GText homes plants 2000 trees in Lagos, Abuja to tackle global warming
A leading real estate developer, GText Homes, says it has planted more than 2000 trees in Ibeju- Lekki in Lagos and Lugbe in Abuja to help tackle the challenges of global warming.
GText Homes Business Developer, Chioma Orazulike, told the News Agency of Nigeria(NAN) on Saturday in Lagos that the trees were named Jasper Gardenier after the company’s newly developed estate in Ibeju-Lekki.
Orazulike said that the exercise was aimed at creating an eco-friendly environment that would provide green and smart homes for Nigerians.
According to her, Jasper Gadenier plant has a very inviting scent that gives the environment a unique natural scent.
She urged government at all levels to create more awareness on the importance of planting trees to mitigate the menace of deforestation, desertification and erosion in the country.
“Nigerians see forestation as an obstruction on land forgetting the importance of these plants to the environment, such as better oxygen quality, soil preservation, dynamic eco-system and most importantly climate amelioration.
“Government should, therefore, consider the rigid implementation of laws that prevent unauthorized felling of trees,” she said
She also urged Nigerians to make tree planting their priority as a way a sustaining their environment.
“It is key that we do lots of tree planting and start educating our children to know more about having clean environment.
“This is actually our company policy in every part of the country we are building homes,”she said.
She explained that tree planting helped to curb effects of climate change by removing carbon dioxide from the air.
“As trees grow, they absorb and store the carbon dioxide emissions that are driving global heating
“As homes developer, we want to create a sustainable environment habitable for everybody.
“This is a necessity that is very safe for all which symbolises purity and cleaniness and we also believe we have to educate everybody on this.
She noted that planting of tress in the environment also has direct economic benefits such as reduction of cooling costs in a tree-shaded home, while heating costs lowered when a tree serves as a windbreak. (NAN)
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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