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Market Capitalisation Grows By N163bn – NSE

Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a positive note with market capitalisation appreciating by N163 billion due to gains by major equities.

The News Agency of Nigeria (NAN) reports that market capitalisation rose by N163 billion to close at N11.14 trillion, up from the N10.99 trillion posted on Friday, an increase of 1.48 per cent.

Also, the All-Share Index, which opened at 34,301.37, grew by 508.88 basis points or 1.48 per cent to close at 34,810.25.

Nestle recorded the highest price gain to lead the gainers' chart with N9.50 to close at N970 per share.

Dangote Cement came second on the gainers' table, gaining N9 to close at N165 while Nigerian Breweries increased by N3.49 to close at N164.99 per share.

CAP rose by N2.90 to close at N40 while Okomu Oil Palm improved by N2 to close at N97 per share.

Conversely, Mobil Oil and PZ Cussons topped the losers' chart with a loss of N1 each to close at N123 and N35 per share respectively.

Access Bank lost 59k to close at N9.91, Air Services decreased by 47k to close at N4.28 while GTBank dipped by 44k to close at N25.50 per share.

Also, the volume of shares traded appreciated by 30.40 per cent as investors staked N5.19 billion on 492.81 million shares transacted in 6,383 deals.

This was in contrast to the 377.91 million shares worth N4.19 billion traded in 6,185 deals on Friday.

NAN reports that IHS was the toast of investors, accounting for 166.76 million shares valued at N353.53 million.

FBN Holdings followed on the activity chart with an exchange of 32.64 million shares worth N689.21 million while Access Bank sold 32.22 million shares valued at N322.46 million.

 

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Contractor Completes 1st Phase Of Remodelling At Port Harcourt Airport

Inter-BAU Construction Limited, the contractor handling the remodelling of the Port Harcourt Airport Terminal has assured of the quality of job at the Port Airport Terminal, adding that the first phase of work in the terminal building will be completed...

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Daura Residents Demand End To Power Outage

Residents of the ancient city of Daura on Wednesday called on the Katsina State Government to urgently intervene to end the persistent power outage affecting the town and its environs.

The residents made the call a week after the Emir of Daura, Alhaji Faruk Umar, summoned the PHCN Area Manager, Alhaji Ibrahim Dayyabu, over the situation.

A cross section of the residents who spoke with the News Agency of Nigeria (NAN) in Daura lamented that the area had remained in darkness for more than three weeks.

The situation, they said, had adversely affected socio-economic activities of the people.

They urged the state government to complete work on the Daura electricity sub-station, which was abandoned by the Federal Government for decades.

``The entire Daura emirate has not been enjoying stable electricity supply for years, hence the need for the state government and the PHCN to do something to address the situation.

``For instance, for the past one month we do not have electricity in our houses and no explanation was made by the PHCN over the situation, yet they send bills and threaten us with disconnection,” Alhaji Abdulfatah Mahmud, a resident said.

The Dan’Madamin Daura, Alhaji Abdulrahaman Dan’Malam, also appealed to the government and the PHCN to address the problem in order to reduce the suffering of people in the area.

NAN observed that some of the residents now rely on power generating sets for their domestic electricity needs and businesses, while others were forced to close down their businesses.

It was also observed that the incessant power failure had forced many operators of grinding machines in the town to operate with gasoline, thereby hiking the cost of grinding a measure of grain from N10 to N30.

Reacting to the development, the PHCN Manager in Daura, Alhaji Ibrahim Dayyabu, attributed the problem to the breakdown of some electricity transformers.

``Two transformers in Daura metropolis have problems, but we are working round the clock to repair them so as restore normal supply of electricity to the town.

``I have briefed the Emir of Daura on the situation.''  

               

              

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