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Nigerian Stock Market Launches 2024 On A Positive Note, Yielding N665.98 Billion For Investors
....KINDLY READ THE FULL STORY HERE▶
The NGX All-Share Index exhibited a notable 1.63% surge, concluding the day at 75,990.88 basis points, marking a substantial increase from the previous trading day’s close at 74,773.77 basis points in 2023…CONTINUE READING

Additionally, the NGX Market Capitalization saw a gain of N665.98 billion, indicating positive returns for stock investors.
The year-to-date return for the NGX ASI stands at 1.63%.
The total volume traded witnessed a significant uptick of 39.93%, concluding at a value of N515.81 million, equivalent to N5.57 billion, spanning 9,370 deals.
Closing the trading session, the market boasted 49 gainers, 17 losers, and 53 unchanged stocks. Notably, AIICO Insurance (10.00%), DAAR Communication (10.00%), and Ikeja Hotel (10.00%) emerged as the top three gainers. Conversely, the top three losers were Cadbury Nigeria (-10.00%), Mecure Industries (-10.00%), and Thomas Wyatt Nigeria (-10.00%).
In the most recent market index review by NGX, various indices, including NGX 30, NGX Lotus Islamic, NGX Pension, NGX Pension Broad Index, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index, and the five Sectoral Indices of The Exchange – NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods, and NGX Oil & Gas were impacted.
Effective from January 2, 2024, changes resulting from the review included new entries or exits for certain indices. Notably, there were no alterations in the NGX 30 Index and NGX Consumer Goods Index.
However, the NGX Banking Index welcomed new entrants like FBN Holdings Plc, FCMB Group Plc, Guaranty Trust Holding Company Plc, and Stanbic IBTC Holdings Plc, while Jaiz Bank, Union Bank Nigeria Plc, Unity Bank, and Wema Bank exited the index.
In the NGX Insurance Index, Universal Insurance Company Plc entered, and International Energy Insurance Plc exited. The Afrinvest Dividend Yield Index incorporated MTN Nigeria Communications Plc, Vitafoam Nigeria Plc, Stanbic IBTC Holdings Plc, and NPF microfinance bank plc, with Dangote Sugar Refinery Plc, FCMB Group Plc, Cutix Plc, and Glaxo SmithKline Consumer Nig. Plc removed from the index.
The Meristem Growth Index saw the departure of CAP, Julius Berger, Presco, PZ, and Vitafoam, while welcoming Access, Fidelity, UBA, UCAP, WAPCO, and Zenith Bank. The NGX Lotus Islamic Index experienced no new entries, with Nestle Nigeria Plc exiting the index.
The indices undergo rebalancing twice a year, specifically on the first business day of January and July, utilizing the market capitalization methodology.
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When You Go To Other Countries, You Will Realize How Far Nigeria Is Behind – Blaqbonez.
Nigerian rapper Emeka Akumefule, popularly known as Blaqbonez, has said travelling to other countries has made him realise how far Nigeria lags behind in terms of development and living standards.....KINDLY READ THE FULL STORY HERE▶
The musician made this observation during an interview on The Zeze Millz Show, where he described Nigeria as a challenging place to live despite its vibrant atmosphere and hardworking population.
Blaqbonez explained that his exposure to other countries had changed his perspective on Nigeria and highlighted areas where the country needs significant improvement.
Although he acknowledged the energy, resilience and determination associated with Nigerians, the rapper said he wished the country would develop further to provide a better quality of life for its citizens.
He said, “Nigeria is hectic, but it is still home. When you go to other countries, you will realise how far we are from where we should be. But the vibe and energy are still there. There is a hustle spirit that comes with being Nigerian. I really wish the country was better.
“I don’t want to spend the rest of my life living in Nigeria. I don’t think that there is any successful person who wants to live in Nigeria after retirement. Maybe there are some people. But the way I picture my retirement is living in a big ranch and raising some animals. That is not a thing that is in Nigeria.”
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Peter Obi Remains More Popular Than Soludo, Senator Umeh Insists.
Senator Victor Umeh, representing Anambra Central Senatorial District, has insisted that Anambra State Governor Chukwuma Charles Soludo cannot match the popularity of Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), in Anambra State or across Nigeria.....KINDLY READ THE FULL STORY HERE▶
Umeh made the declaration on Tuesday during an interview on Channels Television’s Politics Today programme.
Commenting on Soludo’s decision to support President Bola Tinubu in the 2027 presidential election, the senator argued that the governor’s endorsement would not prevent the people of Anambra State from voting for Obi.
Umeh recalled Obi’s electoral performance in Anambra, claiming that the former governor had dealt significant blows to the All Progressives Grand Alliance (APGA) and the All Progressives Congress (APC) during the 2023 elections.
He predicted that the 2027 election would produce a similar outcome in the South-East, describing Obi as a highly popular political figure in Anambra State.
According to Umeh, Soludo’s support for Tinubu would not diminish Obi’s standing among voters.
He said, “Today, no matter what Soludo does, Peter Obi will continue to be more popular than him, both in Nigeria and in Anambra State.”
Meanwhile, a chieftain of the African Democratic Congress (ADC), Dele Momodu, recently predicted that Obi could defeat Soludo in the 2027 election.
Speaking during an interview on Arise Television’s Prime Time programme, Momodu described Obi as a political star in the South-East and South-South, arguing that his popularity could pose a significant challenge to Tinubu’s re-election bid.
Momodu further maintained that Obi’s appeal among voters could affect Soludo’s electoral prospects and, by extension, those of Tinubu in the two regions.
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Anambra Politics: Umeh Reveals Why Soludo Is Running After Peter Obi’s Record.
Senator Victor Umeh, who represents Anambra Central in the Senate, has accused Anambra State Governor Chukwuma Soludo of attempting to outdo former governor Peter Obi out of what he described as envy and hatred.....KINDLY READ THE FULL STORY HERE▶
Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), governed Anambra State from 2006 to 2014, while Soludo assumed office as governor in 2022.
Soludo has recently criticised Obi’s tenure, accusing the former governor of failing to pay salaries and repay loans incurred during his administration.
Speaking during an appearance on Channels Television’s Politics Today programme on Tuesday, Umeh argued that Soludo was trying to surpass Obi’s achievements and political record.
The senator, who said he attended the University of Nigeria, Nsukka (UNN), alongside Obi and Soludo between 1980 and 1984, suggested that their shared academic history might be contributing to what he described as peer envy.
Umeh also maintained that Obi remained more popular than Soludo, despite the latter’s position as the incumbent governor of Anambra State.
He said, “He (Peter Obi) cannot be drawn to what is called peer envy and hate. You know, all of us were in the university together. Myself, Soludo, Peter Obi. We were at the University of Nigeria from 1980 to 1984, all of us graduated the same day.
“So sometimes when you see people talk, they talk out of maybe peer envy. Soludo is running after Peter Obi’s record.”
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