Connect with us
>

Economy

Ikeja Electricity Company Donates Mosquito nets to Communities

Published

on

Ikeja Electric: Oshodi community decries consistent overestimated bills
  • As NSE All-Share Index drops by 0.77% on profit taking

Ikeja Electric Plc, Nigeria’s largest electricity distribution company, has joined the global fight against malaria as it marked World Malaria Day with the donation of treated mosquito nets and medical tests to six riverine communities in Lagos.

Determined to combat the dreaded disease, which is prevalent in sub-Saharan Africa, Ikeja Electric partnered with frontline Health Management Organization, Hygeia HMO Limited, to donate the Malaria prevention items to residents of Olambe, Igando, Ilaje-Bariga, Ijede, Oke-ira and Aboru communities of Lagos State.

IE’s Head Corporate Communications of Ikeja Electric, Felix Ofulue explained that as a socially responsible corporate citizen, the Day provided an opportunity for the company to provide support in fighting malaria and contributing its quota to ensuring a relatively healthier society.

“In line with this year’s theme, we are working to bridge the gap in malaria prevention in riverine communities and that is why we decided to partner with Hygeia to sensitize the community on Malaria prevention with the distribution of over 1000 treated mosquito nets and also provided provide free medical tests and treatment to members of communities most prone to the disease”, he said.

To ensure a seamless intervention exercise, Ikeja Electric had earlier on mobilized communities via various Community Development Committees, who in turn called on risk prone members of communities such as pregnant women and nursing mothers, urging them to attend the medical intervention exercise. Hygiea on their part, deployed mini malaria test centers across all locations visited. The treated nets were then distributed after representatives educated on the need to keep living areas neat and free from stagnant and dirty water which makes a good breeding ground for mosquitoes.

Some of the beneficiaries of the initiative commended the company for its efforts in giving back to the society. The initiative, which is part of Ikeja Electric’s Personal-Corporate Social Responsibility (P-CSR) Action plan, forms part of IE’s long standing commitment to giving back to host communities within her coverage area.

In the meantime, activities on the Nigerian Stock Exchange (NSE) closed negatively on Wednesday, halting the two-day price rally, due to profit taking.

It was  reported that the All-Share Index closed lower at 25,620.94, compared with the 25,818.87 recorded on Tuesday, indicating a loss of 197.93 points or 0.77 per cent.

Also, the market capitalisation which opened at N8.933 trillion lost N68 billion or 0.76 per cent to close at N8.865 trillion.

An analysis of the price movement chart showed that major blue chips posted price depreciation with Dangote Cement dropping by N6 to close at N159 per share, to lead the losers’ chart.

Presco trailed with a loss of N1.70 to close at N45 and UACN was down by 43k to close at N14 per share.

Beta Glass shed 40k to close at N46, while Air Services decreased by 13k to close at N4.17 per share.

On the other hand, Seplat led the gainers’ table for the day, gaining N5, to close at N410 per share.

Okomu Oil followed with a gain of N1.40 to close at N48, while Stanbic IBTC gained N1.11 to close at N23.42 per share.

International Breweries appreciated by 34k to close at N17.84 and Oando increased by 33k to close at N5.73 per share.

The volume of shares traded closed higher with a total of 255.73 million shares valued at N1.67 billion, transacted in 2,845 deals.

This was against the 127.43 million shares worth N909.33 million exchanged in 3,176 deals on Tuesday.

Transcorp was the toast of investors, accounting for 56 million shares valued at N48.09 million.

Oando sold 45.43 million shares worth N267.28 million, while UAC Property transacted 25.49 million shares valued at N47.44 million.

Diamond Bank posted a turnover of 18.17 million  shares worth N15.17 million and FBN Holdings exchanged 16.33 million shares valued at N56.33 million.

Economy

Eid-el-Fitr: Tinubu Urges Sacrifice, Integrity For National Rebirth

Published

on

Eid-el-Fitr: Tinubu urges sacrifice, integrity for national rebirth

 President Bola Tinubu has urged Nigerians to continue to make sacrifices and exhibit integrity for national development.

Tinubu said this after observing the Eid-el-Fitr prayer at the Eid Ground at Dodon Barracks on Wednesday in Lagos.

The President also called on Nigerians to continue to have faith in his government and remain patriotic citizens.

Tinubu said that the Renewed Hope Agenda of his administration, aimed at bringing prosperity to Nigerians, was being diligently implemented.

Encouraging Muslims to extend the values of sacrifice and resilience beyond the fasting period, Tinubu emphasised the need for Nigerians to prioritise the exhibition of love for their country.

‘’The resilience and sacrifice that we have shown and made during these months should be preserved.

“Be a kind and cheerful giver. We must love our country more than any other country because this is the only one we have.

‘’We must continue to protect the integrity of our government and leadership. The Renewed Hope Agenda is alive, well and fine, and Nigerians should continue to be very hopeful. Without hope, there is no salvation.

“Without hope, there is no development. Without hope, there is no life. Eid Mubarak,’’ the President said at the end of the prayers led by the Chief Imam of Lagos State, Sheikh Sulaiman Abou-Nolla.

Earlier in his sermon, the Chief Imam urged Nigerians to shun all acts of violence, ensure peaceful co-existence, and continue to have faith in the country.

He asked those in leadership positions to remain faithful to their oaths of office and work towards alleviating the suffering of the less privileged.

‘‘Let us not forget our brothers and sisters in Gaza and other areas of conflict,’’ the Chief Imam said.

He offered prayers of God’s guidance, wisdom, and protection for the President and the Lagos State government, as well as for peace and stability in the country.

Continue Reading

Economy

Lawmaker Secures Release of 4 Persons Involved in Illegal Arms Manufacturing in Delta

Published

on

Lawmaker Secures Release of 4 Persons Involved in Illegal Arms Manufacturing in Delta

Sen. Ned Nwoko (PDP-Delta), on Wednesday, disclosed that he had secured the release of four family members involved in manufacturing arms at the Onicha-Olona Illegal Arms Factory in Delta.

Nwoko representing Delta North Senatorial District, who disclosed this in an interview in Abuja, said that the release of the four persons was through collaborative efforts.

On March 12, troops of 63 Brigade, Asaba, uncovered an illegal arms manufacturing factory in Onicha-Olona, Delta North Senatorial District and arrested eight family members in connection with the crime.

Nwoko disclosed that efforts have been made to ensure fair treatment for those involved, balancing justice with the opportunity for rehabilitation and contribution to society.

“Following my recent visit to the headquarters of 63 Brigade, Asaba and productive discussions with the Brigade Commander, I am pleased to announce progress in addressing the situation regarding the illegal arms factory discovered in the Onicha-Olona community, Delta.

“Efforts have been made to ensure fair treatment for those involved, balancing justice with the opportunity for rehabilitation and contribution to society.

“I am pleased to reveal that through collaborative efforts, I have successfully secured the release of four family members implicated in the illegal activity.

“However, our commitment to upholding the law remains unwavering, and endeavours continue for fair judgment and potential pardon for the remaining four individuals,” he said.

The lawmaker stressed that the underlying issue highlighted by the discovery, however, remained of paramount importance.

“We must seize the opportunity to redirect the talents demonstrated by those involved towards lawful and productive endeavours.

“The young man in the family, known for his passion and ability to build drones, exemplifies this potential.

“His skills should be harnessed and put to good use,” he said.

Nwoko added that the Industrial Revolution served as a pertinent historical precedent where individual efforts catalysed transformative change and made possible by governments that created conducive environments.

“We can emulate this model here. We can provide support and opportunities for talented individuals like the young drone builder, and stimulate a new wave of innovation and economic growth in Nigeria.

“As previously stated, Nigeria’s economy faces significant challenges exacerbated by escalating imports, particularly in the realm of arms and weaponry.

“Therefore, we must harness our indigenous talents for the greater good and bolster our local industries,” he said.

Nwoko further said that the Defence Industries Corporation of Nigeria (DICON), as well as the Ministry of Science and Technology, have crucial roles to play in this regard.

According to him, by engaging with individuals possessing such skills, we can offer them legal avenues for their expertise to flourish.

“The aim is not only to prevent the proliferation of illegal arms or other weapons manufacturing but also to channel these talents towards legitimate industries for national development.

“I reiterate the need for the government to support and integrate such offenders with specialised skills and talents into the formal economy.

“This initiative should focus on recognising their capabilities and providing opportunities for them to contribute to the development of our local indigenous technology.

“As noted earlier, an individual capable of modifying an AK-47 magazine, originally designed to hold 30 rounds, to accommodate 60 rounds using rudimentary equipment, holds immense potential for greater achievements.

”Such individual can do more with proper legal support and access to adequate resources.”

He disclosed that he was committed to proposing or supporting a new law aimed at assisting talented and skilful individuals involved in illegal activities and also partnering with law enforcement agencies in these endeavours.

“I am committed to proposing or supporting a new law aimed at assisting talented and skilful individuals involved in illegal activities and also partner with law enforcement agencies in these endeavours.”

“They have the intelligence and insights of the potential beneficiaries of this “amnesty” drive towards creating a new cadre of indigenous technologists.

“This law would establish an agency dedicated to providing government support and resources to rehabilitate and engage these individuals in legal and productive activities.

“I tentatively suggest naming this proposed law the “National Talent Rehabilitation and Integration Act”.

“This legislation will not only focus on rehabilitation but also on harnessing the skills and talents of offenders for the benefit of society.

“By providing a structured environment and necessary support, this agency will facilitate the transition of individuals from illicit activities to lawful and productive ventures.

”And they will be contributing to both their personal rehabilitation and national development,” Nwoko added.

Continue Reading

Economy

NGX Market Capitalisation Gains N836bn

Published

on

Stock Market Gains N18bn; FTN Cocoa Processors, Prestige Assurance lead Losers’ Chart 

…Tantalizers, NASCON lead the losers’ chart 

The Nigerian Exchange Ltd.(NGX) market capitalisation, which opened at N57.697 trillion on Tuesday, gained N836 billion or 1.45 percent closing at N58.533 trillion.

Also, the All-Share Index rose by 1.45 percent or 1,480 points to close at 103,524.44, as against 102,044.84 recorded on Monday.

As a result, the Year-To-Date (YTD) return rose to 38.45 percent.

Interest in Telco heavyweight and Tier-one banks such as MTN Nigeria, UBA, Access Corporation, Guaranty Trust Holding Company(GTCO), and sustained interest in Transcorp Power(TransPower) kept the market in the green.

Market breadth closed positive with 35 gainers and 14 losers.

On the gainer’s chart, UBA led in percentage terms of 10 to close at N25.30, followed by MTN by 9.98 percent to close at N243.50 per share.

Julius Berger also gained 9.71 percent to close at N61, While Access Corporation rose by 9.51 percent to close at N22.45 per share.

Veritas Kapital Assurance went up by 9.38 percent to close at 70k per share.

Conversely, Tantalizers led the loser’s chart by 7.89 percent to close at 35k, and National Salt Company of Nigeria(NASCON) trailed by 6.77 percent to close at N53.70.

Morison Industries Plc shed 6.62 percent to close at N1.41, C&I Leasing lost 6.45 percent to close at N3.48, while Cutix Plc dropped 6.30 percent to close at N2.53 per share.

However, analysis of the market activities showed trade turnover settled lower, relative to the previous session.

The value of transactions was also down by 16.76 percent.

A total of 565.79 million shares valued at N14.23 billion were exchanged in 11,519 deals,  compared to 436.90 million shares valued at N17.09 billion exchanged in 11,344 deals traded on Monday.

On the activity chart, Transcorp led in volume with 170.72 million shares traded at a value of N3.13 billion, Access Corporation followed by 48.57 million shares valued at N1.06 billion.

GTCO sold 39.04 million shares worth N165.80 million, Jaiz Bank traded 36.78 million shares valued at N72.51 million and UBA transacted 31.96 million shares valued at N796.24 million

Continue Reading

Advertisement

Editor’s Pick

Politics