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NGX All-Share Index Crosses 100,000 Mark

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All-Share Index, one of the performance indices of the Nigerian Exchange Ltd. (NGX) on Thursday crossed a 100,000 mark for the second time in the year.

Having crossed the mark on Jan. 24, and later dropped, the All-Share Index specifically added 0.75 per cent or 744 points to settle at 100,335.

3, compared to 99,591.64 posted on Wednesday.

Consequently, investors gained N420 billion or 0.

75 per cent, as the market capitalisation which opened at N56.310 trillion, closed at N56.730 trillion.

Also, the Year-To-Date (YTD) return rose to 33.19 percent.

Improved buy interest in the shares of Dangote Sugar, MTN Nigeria, Transcorp Power, Oando Plc, Cornerstone, alongside other top gainers drove the equity market to a positive terrain.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 9.11 per cent.

However, market breadth closed negative at a with 33 losers and 25 gainers.

On the gainers table, Dangote Sugar and MTN led in percentage terms of 10 per cent each to close at N50.60 and N201.30 per share, respectively.

Transcorp Power followed closely by 9.99 per cent to close at N351.30, while Juli Plc added 9.96 per cent to close at N4.97 per share.

National Salt Company of Nigeria (NAN) rose by 9.92 per cent to close at N47.65 per share.

On the other hand, Guinness Nigeria and FTN Cocoa Processors led the losers table by 10 per cent each to close at N45.90 and N1.53 per share, respectively.

Transcorp also lost 9.95 per cent to close at N17.10, Ikeja Hotel shed 9.93 per cent to  close at N6.08, while Redstarex declined by 9.87 per cent to close at N3.38 per share.

A total of 554.72 million shares valued at N17.73 billion were exchanged in 9,708 deals, compared to 416.48 million shares valued at N19.51 billion exchanged in 9,338 deals.

On the activity table, Transnational Corporation (Transcorp) led both in volume and value with 301.36 million shares traded in value of N5.65 billion.

Sterling Nigeria sold 33.32 million shares worth N150.78 million, while FBN Holdings traded 23.21 million shares valued at N773.91 million.

Also, United Bank of Africa (UBA) transacted 18.38 million shares worth N400.29 million and Zenith Bank sold 17.08 million shares valued at N583.93 million.

Reacting, a stockbroker with Premium Capital, Mr Victor Ibrahim, said that the improved performance of the equity market was due to renewed investors expectations from the current government’s policies.

Ibrahim told the News Agency of Nigeria (NAN) in Lagos that investors were keying into the future benefits of the economy by boosting their investment in the equity market.

He said, “The stock market is a leading indicator of the Nigerian economy and as such, with government policies such as the free-flow economy, investors confidence in our market has been boosted.

“The artificial scarcity of dollars in order to underprice or devalue the Naira is also another indicator.

“This is because the price of stocks in the Nigerian equity market is cheaper for foreign investors and those local investors who have dollars in reserve.

“While the Nigerian economy may presently appears tough, investors are keying into the future opportunities in the current government’s policies with the belief in the capacity of President Bola Tinubu.” NAN

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NCS Strengths Ties with China Customs

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By Tony Obiechina Abuja

The Nigeria Customs Service (NCS) has deepened its strategic engagement with the General Administration of Customs of China (GACC) through a high-level meeting held in Beijing on July 25.According to NCS Spokesman, Abdullahi Maiwada in a statement on Sunday, Assistant Comptroller of Customs, the meeting aimed to explore bilateral knowledge exchange and capacity development in customs administration.

The NCS delegation, led by Assistant Comptroller-General of Customs Oluyomi Adebakin, discussed customs training methodologies, modernization models, and technology-driven solutions with GACC officials.
The Chinese Customs authorities shared their structured training system, which incorporates virtual reality, 5G-enabled systems, and blended e-learning approaches.
The meeting highlighted Nigeria’s active participation in China-led customs development initiatives, with over 200 African customs officers trained since 2023. The Chinese Customs officials commended Nigeria’s growing leadership in international customs platforms and appreciated the election of the Comptroller-General of Customs, Bashir Adewale Adeniyi, as Chairperson of the World Customs Organisation (WCO) Council.Both parties expressed mutual interest in exploring technical exchange programs, joint research initiatives, and officer exchange schemes. The NCS aims to strengthen its human capital, advance intergovernmental partnerships, and modernize customs operations in accordance with global standards.The engagement aligns with promoting knowledge sharing, harmonizing customs procedures, and building an integrated trade infrastructure for sustainable development, particularly under the African Continental Free Trade Area (AfCFTA).

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Kaigama Cautions against Rising Religious Intolerance, Marginalization

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From Sylvia Udegbunam, Enugu

The Catholic Archbishop of Abuja, Most Rev. Ignatius Kaigama, has called for religious tolerance among religious groups in Nigeria.Kaigama made the call during the 25 years Priestly Celebration of the Auxiliary Bishop of Enugu Diocese, Most Rev.

Ernest Obodo, held at St. Mary Catholic Church, Udi Council Area of Enugu State at the weekend.
The celebration began with Holy Mass officiated by the Metropolitan Archbishop of Onitsha, His Grace, Most Rev.
Valerian Okeke.In his homily, Kaigama decried what he described as ‘very severe’, the existence of religious intolerance in the country, warning that, “if we do not get rid of it, we shall continue to make three steps forward and five steps backward.
“Professor Chinua Achebe did identify the problems of Nigeria as bad leadership, corruption, and tribalism, and I wish to add religious intolerance and fanaticism.He expressed the need for more solidarity of the Catholic Church in Eastern Nigeria with the Church in Northern Nigeria in view of the present socio-economic, cultural and religious circumstances in the world.The clergyman equally called on those in political leadership to ensure that the resources of the nation were equitably distributed and also to ensure a fair representation in government.He advised them not to let any section of the nation become marginalised for whatever reason but to ensure honesty, transparency, and accountability in the leadership of the country.“My village was once captured, destroyed, and our chief was subordinated to the religious leaders. Since then, it was only some three years ago that we received a government response.“Nigerians expect from political leaders a corporal work of mercy to feed the hungry, give water to the thirsty, care for the sick and wounded, educate the school children, care for prisoners and the poor.“Build and maintain the roads, keep our schools and hospitals open, and not only when there are casualties, then we rush to open them and be concerned,” he stressed.The Archbishop added that while we demand good governance from those voted in authority, we demand equally a changing mentality on the part of those Nigerians who saw government resources as available to be used with reckless abandonment.To the celebrant and his class of 2000, Kaigama said, “25 years ago, they answered the Lord’s call to serve the church as shepherds of God’s people.“Today we give thanks to God for the gift of their vocation, perseverance in ministry, and for the grace that has sustained them through joys and trials alike,” he said.In his remark, Gov. Peter Mbah of Enugu State, described Obodo as an embodiment of initiatives geared towards lifting people out of poverty through his agricultural project.“So I want to join your well-wishers and indeed your congregation here to congratulate and to celebrate with you. There is something that you represent, which I would also love that we continue to imbibe, that is, the true spirit of service.“But your humility is also something very disarming,” Mbah said.Commending the participants, Obodo announced that 33 bishops all over Nigeria attended the event, saying that 20 of them were present while 13 were represented.He thanked God for sparing 10 of them who were ordained priest in 2000, disclosing that, “10 of us are healthy and hearty today and we give gratitude to God”.Many priests, laity, traditional rulers and government officials graced the celebration.

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Niger Boat Mishap: NSEMA Recovers 13 Bodies, Rescues 26

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From Dan Amasingha, Minna, Attah Ede, Makurdi

The Niger Emergency Management Agency (NSEMA), said 13 dead bodies have been recovered while 26 people were rescued from the recent boat mishap in Gini village, Shiroro Local Government Area.This is contained in a statement by Alhaji Abdullahi Arah, the Director- General of the agency on Sunday in Minna.

The incident occurred at about 11:45am on Saturday around Kwata, as the boat was heading to Zumba market.
According to the agency, the boat, which was fully loaded with goods and passengers capsized while conveying them to the weekly market.“We have confirmed a boat mishap incident with 13 bodies recovered while 26 were rescued bringing the total number of people in the boat to 39.
”“Those that were recovered had since been buried and among them were eight women, three men and two children,” he said.NSENI’s Director of Information and Special Duties, Dr. Ibrahim Hussaini confirmed in a statement that the boat driver and few passengers were rescued.Hussaini said that one of the victims was admitted at the General Hospital Kuta, and had been discharged.The Niger Government through NSEMA, National Hydro Electric Power Producing Areas Development Commission N-HYPPADEC and NIWA have distributed life jackets to various riverine communities.Abductors of Six Nigerian Law School Students Opens Discussions, Demands N20M RansomThe kidnappers of the six Nigerian Law School students, have contacted and opened discussions with the families of their victims, demanding N20 million as ransom for their release.The six Nigerian Law School Students were reportedly abducted by suspected armed bandits while on their way to resume at the school’s Yola campus in Adamawa State on Saturday.It was gathered that the incident took place in the late hours of Saturday, along the ‘deadly’ federal highway between Wukari in Taraba State and parts of Benue State.According to a fellow student of the Yola campus, who identified himself as Johnson, said the kidnappers have contacted families of the victims and are demanding a ransom of N20 million for their release.The abducted students were on their way back to campus after completing their mandatory court externship, ahead of the resumption of academic activities scheduled for Monday.Those confirmed to be abducted includes; Rev. Ernest Okafor, Ogbuka Fabian, Nwamma Philip, Okechukwu Obadiegwu, Obalem Emmanuel, and Obiorah David.They were reportedly travelling in a vehicle operated by AJ Dan Pullo Transport Company, a commercial operator based in Onitsha, Anambra State.Authorities have yet to release an official statement.The Wukari-Benue axis, where the kidnapping is suspected to have taken place, has long been flagged as a high-risk corridor due to recurring incidents of abduction and violent crime.

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