By Lucy Ogalue

The ECOWAS Small Business Coalition (ESBC) has lauded the ECOWAS Commission’s Private Sector Directorate, for supporting women traders across the West African sub-region.

Dr Abdulrashid Yerima, President of ESBC, also lauded the ECOWAS’s strong support and strategic backing that contributed to the success of the recently concluded ECOWAS Caravan 2025.

Yerima praised the synergy among regional actors, partners and delegates who took part in the caravan, saying it turned shared challenges into opportunities.

“To the ECOWAS Commission, particularly the Private Sector Directorate, your leadership continues to steer our region toward inclusive and sustainable growth,” he said.

He described the caravan as a transformational milestone in the advancement of women’s cross-border trade across the West African sub-region.

“The ECOWAS Caravan 2025 was more than a series of events, it was a regional movement that highlighted key barriers facing women traders and brought renewed energy to efforts aimed at dismantling them.

“The bridges we build today become the trade routes of tomorrow’s prosperity,” Yerima said.

He emphasised the caravan’s role in galvanising action toward inclusive trade policies and stronger support for small businesses, especially women-led enterprises.

According to Yerima, the Private Sector Directorate’s role in coordinating resources, facilitating partnerships, and amplifying advocacy is crucial to the success of the caravan.

“Your proactive collaboration and unwavering commitment ensured that the voice and mission of the coalition were not only heard but felt across the region,” he said.

The coalition boss said that the caravan helped to forge new alliances, strengthen regional policy dialogue, and inspire collective resolve.

He said this also helped to improve the enabling environment for small businesses and informal cross-border traders.

Yerima said the caravan was a symphony of ideas that must be transformed into long-term regional initiatives and policy reforms to support trade facilitation, remove bottlenecks, and unlock prosperity for women entrepreneurs.

The ECOWAS Caravan 2025 is part of ongoing regional efforts to accelerate the goals of the ECOWAS Vision 2050, which prioritises economic integration, private sector development, and gender inclusion across West Africa. (NAN)(www.nannews.ng)

Edited by Mark Longyen

By Taiye Olayemi

The Nigerian stock market continued on a bullish note on Thursday, marking a four-day positive trend in the week, as investors recorded N1.806 trillion gain.

The positive performance was due to increased investor confidence in Nigeria’s equities market amid improved liquidity conditions and ongoing reforms.

Market capitalisation rose by N1.806 trillion, or 2.35 per cent, to close at N78.726 trillion, up from N76.970 trillion recorded on Wednesday.

Similarly, the All-Share Index (ASI) rose by 2,457.13 points, or 2.01 per cent, settling at 124,446 80 from its previous close of 121,989.67.

The market breadth closed positive, with 70 gainers and 10 losers.

On the gainers’ chart, FTN Cocoa increased by 10 per cent, ending the session at N6.82 while UPDC also rose by 10 per cent closing at N4.62 per share.

United Bank for Africa soared by 10 per cent, settling at 39.60 and Consolidated Hallmark Holdings also gained by 10 per cent, finishing at N3.30 per share.

Also, Haldane McCall grew by 10 per cent, closing at N4.73 per share.

On the losers’ chart, Neimeth International Pharmaceutical fell by 9.91 per cent, finishing at N9 while Legend Internet shed by 9.88 per cent, settling at N7.21 per share.

Industrial and Medical Gases dropped by 7.36 per cent, ending the session at N34 and Cadbury Nigeria declined by 6.22 per cent, closing at N55 per share.

Similarly, Livestock Feeds lost by 5.67 per cent, settling at N9.15 per share.

1.3 billion shares worth N27.73 billion were exchanged across 27,875 transactions.

This is compared to 888.70 million shares worth N15.609 that was traded across 24,303 transactions earlier on Wednesday.

Transactions in the shares of Access Corporation topped the activity chart with 174.22 shares worth N3.99 billion.

AIICO Insurance followed with 81.96 million shares valued at N165 million while Ja Paul Gold transacted 74.01 million shares worth N245.2 million.

United Bank for Africa sold 64.51 million shares valued at N2.52 billion and First City Monument Bank traded 63.3 million shares worth N585.75 million.

Reacting to the positive performance, Mr David Adonri, Vice Chairman of Highcap Securities said: “Investors’ confidence is very high. The consumer goods sector is leading the charge due to their recovery from FX losses.

“Stability of Exchange Rate is also stimulating FPI. The banks have weathered the storm of the forbearance scare and the foreign listing of a new issue by GTCO is impacting on its shares and pulling others along.

“Unlike in the recent past when equities were driven by sentiment, current surge appears to be propelled by improving market fundamentals.

“High expectations from half year corporate disclosures may also be fuelling the rally but as corporate results are released, there could be sustenance or corrections.” (NAN)(www.nannews.ng)

Edited by Shuaib Sadiq/Olawunmi Ashafa

By Vivian Emoni

Dr Victor Muruako, the Executive Chairman, Fiscal Responsibility Commission (FRC), says the commission is collaborating with the Public Accounts Committee (PAC) to address fiscal governance challenges to promote transparency.

Muruako said this at the 2025 National Conference on Public Accounts and Fiscal Governance, organised by the House of Representatives PAC Committee in Abuja.

The theme of the conference is: “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development.”

He said the conference was pivotal for strengthening accountability and prudent financial management in Nigeria’s public sector.

According to him, the commission shares PAC’s vision of entrenching fiscal discipline to ensure public resources deliver maximum value for sustainable development.

He said that the conference underscores PAC’s commitment to fostering collaboration and addressing challenges of fiscal governance.

According to him, FRC is making great efforts to addressing persistent challenges by sharing the PAC’s vision of entrenching fiscal discipline to ensure public resources deliver maximum value for sustainable development.

“The maximum value is through robust oversight and collaboration with help from National Assembly Committees, particularly the PAC’s and committees on finance,” he said.

Muruako noted that FRC had helped significantly in increasing the remittance of Operating Surplus by Government-Owned Enterprises.

This, he said, had led to improvement in Federal Government’s Independent Revenue from N200 billion in 2013 to more than N2 trillion in 2024.

He said the progress highlighted the impact of collaboration with PAC, which leveraged the auditor-general’s reports to ensure efficient use of public funds in line with the commission’s Act.

The chairman, however, said the commission was going through some challenges which included weak enforcement mechanisms, limited public awareness, and slow domestication of the FRA, with only 26 states adopting similar laws.

According to him, other challenges are inefficiencies in interagency coordination, which further hinders progress.

Muruako said that the FRC was advocating a National Fiscal Governance Framework to hold the fiscal oversight space together.

He added that the framework would also be an amendment to the FRA with stronger penalties for non-compliance to bolster accountability.

The chairman emphasised that effective fiscal governance required adherence to the constitutional framework where public debt and borrowing was under the exclusive legislative list.

He further said that the agencies, empowered by the National Assembly laws, monitor the use of proceeds of funds borrowed by subnational governments for which the Federal Government was liable.

“The monitoring is to ensure they contribute to sustainable development, in addition to meeting the conditions for public debt, indebtedness and borrowing laid out in parts IX and X of the FRA.

“This conference provides a vital platform to reinforce the constitutional position of federal laws, the Federal Government and its agents/agencies on this matter.

“It also provides a platform to align national and sub-national laws, strengthen audit frameworks, and galvanise stakeholder commitment under the Renewed Hope reforms of President Bola Tinubu’s administration.

“The FRC pledges unwavering support to the PAC in advancing transparency, reducing financial leakages, and institutionalising sound public financial management.

“We commend the PAC and its chairman for securing Nigeria’s hosting rights for the 2025 West African Association of Public Accounts Committees (WAPAC) Annual Conference to reinforcing Nigeria’s leadership in regional fiscal governance.

“Together, we can build a Nigeria where fiscal responsibility underpins sustainable development.” (NAN)(www.nannews.ng)

Edited by Ese E. Eniola Williams