Performance - NEWS AGENCY OF NIGERIA

Philip Daniel Yatai
May, Thu, 2025

2nd anniversary: Tinubu performance in FCT unprecedented – Wike

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By Philip Yatai

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, says the performance of President Bola Tinubu in the FCT in the last two years is unprecedented.

Wike stated this in Abuja on Thursday, after he inspected some ongoing projects in preparation for inauguration to celebrate Tinubu’s second anniversary.

The minister said he was very happy with the achievements recorded by Tinubu, particularly as it concerns the FCT saying “it has never happened before”.

He said that Tinubu has done tremendously well, adding that his performance was evident in every part of the country.

Wike said that following the visible performance, Nigerians were already advocating that Tinubu should be given another opportunity to serve.

“Tinubu’s achievements in FCT are unprecedented, and in the next two and four years, you’ll see what is going to happen in this country.

“Yesterday I said the simple truth, all of us who are critics have said before that Abuja was not working but have now confessed that Abuja is now working.

“Who has made it to work? It is Mr President,” he said.

The minister said he would concentrate and focus on the assignment given to him by Tinubu to transform Abuja to a befitting capital city that Nigerians would be proud of.

Speaking on the projects’ inspection, Wike said that the move was to ensure that the contractors deliver the projects as promised.

He said he was particularly impressed with the delivery of the Apo to Wassa Junction Road, (the left-wing service lane of the Outer Southern Expressway). Which he said was 100 per cent completed.

He said that the Apo – Wassa road would also be fitted with streetlights to improve security in the area, adding that the contractor CGC has already submitted a proposal to that effect.

“We also went to N20 Interchange to connect Wole Soyinka Way with the Murtala Mohammed Expressway, popularly known as Kubwa Expressway which would be completed and inaugurated.

“We equally inspected the access road from the Obafemi Awolowo Way to the Abuja Division of the Court of Appeal in Dakibiyu District, which is also expected to be completed and inaugurated.

“Frankly speaking, like I have always said, the residents of Abuja deserve the best and the contractors are doing their best I can assure you that.

“For me, I cannot give nothing less,” he said.

The minister said that Tinubu had insisted that Nigeria deserved the best “and we will do everything we can to make sure we give them the best.

“You can see the infrastructure in terms of roads. It is unimaginable and we will continue to do that.”

He, however, called on residents of the FCT to also perform their obligation and support the administration for the interest of Abuja and the entire Nigerians. (NAN)

Edited by Sadiya Hamza

Lydia Beshel
Mar, Tue, 2025

Economy/Business

Stock market records mixed performances

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Stock

By Taiye Olayemi

The stock market on Monday recorded mixed performances.

Specifically, the market capitalisation shed a marginal loss of N8 billion or 0.01 per cent to close at N66.343 trillion from N66.351 trillion recorded on Friday.

However, the All-Share Index dropped by 0.15 per cent or 155.96 points to close at 105,799.17 against 105,955.13 posted on Friday.

The difference in the performance indices was due the listing of Sterling Financial Holding Company Plc’s 16,666,666,667 ordinary shares of 50k each at N4.50 per share, through Private Placement on the exchange.

Meanwhile, the market breadth closed negative with 35 losers and 18 gainers.

On the losers’ chart, eTranzact International declined by 10 per cent, to close at N5.85 per share, while Sunu Assurance dropped by 9.92 per cent, to close at N4.63 per share.

Prestige Assurance lost by 8.26 per cent, to close at N1.00 and Sovereign Trust Insurance declined by 7.77 per cent, to close at 95k.

Similarly, Red Star Express fell by 7.76 per cent, to close at N5.35 per share.

On the gainers’ chart, X Academy soared by 9.92 per cent, to close at N2.88 per share, while Neimeth International Pharmaceutical gained by 8.43 per cent, to close at N2.70 per share.

Tantalizer increased by 6.83 per cent, to close at N3.13 per share and Dangote Sugar soared by 4.71 per cent, to close at N36.70 per share.

Also, Stanbic gained by 4.24 per cent, to close at N61.50 per share.

A total of 477.51 million shares worth N7.049 billion were exchanged across 13,520 transactions.

This is compared to 750.56 million shares worth N11.056 billion that was exchanged across 10,584 transactions recorded at the previous section.

Transactions in the shares of Jaiz Bank topped the activity chart with 197.42 million shares worth N606.15 million.

Zenith Bank followed with 25.976 million shares valued at N1.235 billion while Sovereign Trust Insurance traded 19.26 million shares worth N18.525 million.

Prestige Assurance sold 18.542 million shares valued at N18.991 million and Fidelity Bank transacted 15.895 million shares worth N27.047 million.

Stockbrokers at Atlass Portfolios Ltd. attributed the market performance to the additional listing rather than widespread sell-offs.

“Beyond the impact of the new listing, the market downturn was driven by profit-taking activities in key stocks across major market sectors,” he said. (NAN)

Edited by Olawunmi Ashafa