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Investors Gain N377bn on NGX Amid Bullish Trend

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The Nigerian stock market on Thursday rebounded with a gain of N377 billion on the Nigerian Exchange Ltd.

Market capitalisation rose by N377 billion or 0.58 per cent to close at N65.847 trillion, compared with N65.470 trillion posted on Wednesday.

Similarly, the All-Share Index (ASI) climbed by 601.

25 points or 0.
58 per cent, to settle at 104,788.25 from N104,187.
00 earlier recorded.

The uptrend was driven by strong buying interest in medium and large capitalised stocks such as Caverton Offshore Support Group, VFD Group, Neimeth, among others

Meanwhile, the market breadth closed positive with 47 gainers and 11 losers

On the gainers’ chart, FG152028S1 grew by 100 per cent to close at N100.

00 while Caverton Offshore Support Group increased by 10 per cent to close at N2.31 per share.

VFD Group soared by 9.92 per cent to close at N79.80 and Neimeth International Pharmaceutical gained by 9.92 per cent to close at N2.88 per share.

Veritas Kapital Assurance grew by 9.57 per cent to close at N1.03 per share.

On the losers’ chart, ABC Transport dropped by 10 per cent to close at N1.26 while Eterna fell by 9.90 per cent to close at N32.30 per share.

CAP Plc declined by 7.45 per cent to close at N43.50 and Regalins lost by 3.64 per cent to close at 53k per share.

Also, the Nigerian Exchange Group dropped by 3.23 per cent, to close at N34.50 per share.

A total of 432.56 million shares worth N9.719 billion were exchanged across 12,027 transactions.

This is compared to 376.61 million shares valued at N11.89 billion that was exchanged across 11,576 transactions earlier.

Transactions in the shares of Access Corporation topped the activity chart with 77.861 million shares worth N1.62 billion.

Ellah Lakes followed with 44.24 million shares valued at N132.76 million while Fidelity Bank transacted 32.46 million shares worth N614.78 million.

Zenith Bank traded 30.20 million shares valued at N1.466 billion and United Bank for Africa sold 20.45 million shares worth N718 million. (NAN)

Foreign News

Trump Bans Citizens of 12 Countries from Entering U.S.

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U.S. President Donald Trump has signed a proclamation on Wednesday evening banning citizens of 12 countries from entering the United States.The countries affected are Afghanistan, Myanmar, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen.

Nationals from these countries will be “fully” restricted from entering the U.
S., according to the proclamation.
Similarly, the entry of nationals of Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela will be partially restricted.The proclamation is effective on June 9, 2025 at 12:01 am EDT (5:01am Nigerian time).Trump said the move was needed to protect the U.S. against “foreign terrorists” and other security threats.
“We will not allow people to enter our country who wish to do us harm,” Trump said in a video posted on X.The U.S. President said the list could be revised and new countries could be added.He said the countries subject to the most severe restrictions were determined to harbour a “large-scale presence of terrorists”.He alleged others failed to cooperate on visa security and had an inability to verify travellers’ identities, inadequate record-keeping of criminal histories and high rates of visa overstays in the U.S..“We cannot have open migration from any country where we cannot safely and reliably vet and screen those who seek to enter the United States,” Trump said.Trump’s directive is part of an immigration crackdown that he launched at the start of his second term, pledging to restrict people from the Gaza Strip, Libya, Somalia, Syria, Yemen and “anywhere else that threatens our security”.Trump issued an executive order on January 20 requiring intensified security vetting of any foreigners seeking admission to the U.S. to detect national security threats.That order directed several cabinet members to submit a list of countries from which travel should be partly or fully suspended because their “vetting and screening information is so deficient.”During his first term in office, Trump had announced a ban on travellers from seven countries, a policy that generated so much controversies before it was upheld by the Supreme Court in 2018.However, former President Joe Biden, who succeeded Trump, repealed the ban in 2021, calling it “a stain on our national conscience.” (NAN)

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Otuaro Lauds King Ateke Tom’s Contribution to Peace in Niger Delta

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From Mike Tayese, Yenagoa

The Administrator of the Presidential Amnesty Programme, Dr Dennis Otuaro has congratulated the traditional ruler of the Okochiri Kingdom in Rivers State, His Royal Majesty, King Ateke Tom on the occasion of his 61st birthday.Otuaro was among prominent guests that graced the colourful birthday celebration of King Ateke at his palace in Okochiri, Okrika Local Government Area, on Monday.

He described the Rivers monarch as “a respectable leader whose reign has brought about unity, peace, progress and development around his community.
”He stressed that King Ateke, who is also the ‘Sekuro of the Niger Delta’, was a great asset who had contributed immensely to the peace, stability, security and development of the region.
Otuaro expressed his utmost regard for the traditional institution and the vital role of traditional rulers in the peace and development of communities in the Niger Delta.He noted that traditional rulers were among the critical stakeholders that the PAP was collaborating with to strengthen the programme’s peace-building process in the region.He reiterated that the programme was in safe hands, and strongly motivated by President Bola Tinubu to bridge the region’s human capital development gap through formal education scholarships and vocational training in aviation, maritime, agriculture, and other relevant trade areas.Otuaro said his policy of inclusivity had ensured the involvement of Niger Delta women in the programme’s initiatives, stressing that there were plans designed for their empowerment and contribution to the region’s socio-economic growth.He emphasized that he was focused on rendering quality service to the people of the region, and not distracted by the shenanigans of his detractors.Otuaro called on all stakeholders of the region to remain steadfast in the effort to sustain the prevailing peace in the region so that socio-economic and developmental activities could thrive around the communities.While expressing appreciation to King Ateke for his unwavering support to the programme, the PAP boss prayed to God to grant him long reign, longevity and good health.

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Nigeria Moving Towards Self-reliance in Military Hardware Production – Badaru

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By Tony Obiechina Abuja

The Minister of Defence, Mohammed Badaru said Nigeria is gradually moving towards self-reliance in military hardware production.Badaru stated this at the end of his two-day working visit to key military institutions in Kaduna State, including the Nigerian Defence Academy, Nigerian Army Command Engineering Depot (CED), Buffalo Engineering Technical Services Limited (BETSL) and the Nigerian Air Force Institute of Technology (AFIT).

Accompanied by senior military officials, including Major General M.
L.D. Saraso, General Officer Commanding (GOC) 1 Division; Major General A.K. Ibrahim, Commandant of the Nigerian Defence Academy; and Air Vice Marshal Sani Labaran Rabe, Commandant of AFIT, the Minister engaged with personnel and observed the advancements in military training and production.
Speaking to journalists , the Minister emphasized Nigeria’s commitment to transitioning from foreign military procurement to local production of combat vehicles, arms, ammunition, and other military equipment.He said, “This transition marks a significant step toward self-reliance, enhancing national security.“The ongoing efforts in training, local production, and refurbishment of military assets are commendable.“During my inspections, I witnessed the impressive capabilities in repairing and refurbishing damaged Mine-Resistant Ambush Protected (MRAP) vehicles, tanks, and Armored Personnel Carriers (APCs). New combat platforms, including Buffalo APCs, MRAPs, bulletproof glass, spare parts, and surveillance UAVs, are being developed in our workshops. Some of these assets are already being redeployed to operational theaters.”He commended the Armed Forces for their innovative initiatives and highlighted the essential role of Training, Research, Development, and Innovation (RDI) in achieving operational excellence.He called for continued collaboration between military institutions and increased investment in military RDI to enhance efficiency and reduce dependence on imported hardware.Badaru also noted President Bola Ahmed Tinubu’s commitment to strengthening Nigeria’s defense capabilities, referencing the recent signing of the Defence Industries Corporation of Nigeria (DICON) Bill into law, adding that “this legislation aims to facilitate the local production, repair, refurbishment, and supply of military hardware and ordnance for the armed forces and other security agencies.He stressed the importance of ongoing support for institutions such as the Nigerian Defence Academy, AFIT, CED, and BETSL to ensure the development of skilled, competent, and dedicated military personnel and enhance defense production capabilities.

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