BUSINESS
Automobile Firm Records High Patronage at Enugu International Trade Fair
ANAMMCO, a vehicle manufacturing company, says it has recorded high business patronage at the on-going 33rd Enugu International Trade Fair holding in Enugu.
ANAMMCO was conceived by the Federal Government of Nigeria under the Second National Development Plan (1970-1975).
The company was incorporated on Jan.
17, 1977, and its factory inaugurated on July 8, 1980 by the first executive President of Nigeria, Alhaji Shehu Shagari.Commercial production of trucks began in January 1981.
The incorporation of ANAMMCO was the fulfilment a joint venture agreement between Nigeria and Daimler AG of Germany, which became the pioneer technical partner and co-shareholder.
Daimler fully divested its shareholding, while Nigeria retained significant shareholding.
Controlling equity is currently held by GUO and Sons Ltd., a holding company, established by Chief G.U. Okeke, after Anambra which took it over divested from it.
Speaking with the News Agency of Nigeria (NAN) at the trade fair, ANAMMCO’s Executive Director, Corporate Services, Mr Uche Okeke, said patronage received so far by the company was “awesome and superb’’.
According to him, visitors are happy with the company’s “Dongfeng’’ trucks, and it has been receiving goodwill messages from numerous customers.
“Some have made deposits and others promised to patronise us. The patronage is enormous and we are hopeful it will be a good outing for ANAMMCO.
“We guarantee customers about our products and pledge to offer after-sales support,’’ Okeke said.
He added that the fair had provided visitors the opportunity to learn more about the company’s products, stressing that “people now see the products, inspect them and they are happy with the brands.’’
He lauded Gov. Ifeanyi Ugwuanyi of Enugu State for providing the enabling environment for the business to thrive as well as his administration’s support and patronage.
“Enugu State government’s support has helped the company in its drive to expand its market beyond the state.
“We will continue to support the state government and the Enugu Chamber of Commerce, Industry, Mines and Agriculture in events like this,’’ he said.
Okeke urged captains of industry and heads of government to always patronise made-in Nigeria products.
In his remarks, ANAMMCO’s Head of Sales, Olalekan Sanyaolu, said “Dongfeng’’ trucks were assembled for haulage; have very low emission and are cost-efficient.
He urged governments to support automobile companies in Nigeria, saying they needed to act fast to save the industry from collapsing. (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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