Okomu Oil
Okomu Oil Palm wants central bank to review anchor borrowers programme
Okomu Oil Palm Company Plc. wants a review of CBN’s Anchor Borrowers Programme (ABP) to accommodate more farmers and to shore up the nation’s foreign earnings from agriculture. The ABP is targeted at smallholder farmers engaged in the production of rice, maize, wheat and cash crops like oil palm, cocoa and rubber, among others. Speaking with newsmen on Monday in Benin, Okomu Oil’s Managing Director, Dr Graham Hefer, noted that cash crop farmers were yet to fully benefit from the programme. He said food crop farmers had an edge because they could cultivate, harvest, sell and repay their loans within the specified one year period. “It is easy for farmers engaged in annual crops to meet their targets. “This doesn’t happen with cash crops because in the first three years of oil palm production...
Profit taking persist on NSE, market capitalisation loses N232 billion
Nigerian stock market closed on a negative note for the fourth straight session on Thursday with the market capitalisation losing N232 billion. Specifically, the market capitalisation which opened at N18.304 trillion dipped N232 billion to close at N18.072 trillion. Also, the All-Share Index lost 464.00 points or 1.32 per cent to close at 34,557.26 compared with 35,021.26 achieved on Wednesday. Accordingly, month-to-date loss increased to 1.3 per cent, while year-to-date gain moderated to 28.8 per cent. The downward trend was also driven by price depreciation in medium and large capitalised stocks amongst which are; Lafarge Africa, Guinness Nigeria, Zenith Bank, Dangote Sugar Refinery and MTN Nigeria Communications (MTNN). Market breadth was strongly negative with 40 laggards, in relative ...
Edo guber: APM vows to resist move by national body to arm-twist state chapter
Barely two weeks to the September 19 governorship election in Edo State, the leadership of the Allied Peoples Movement (APM) in the State has vowed to stand against what it described as an intended time bomb and seeds of calamity being sowed by certain elements at the national level of the party, which if unchecked it said is capable of derailing the country’s democracy as well as breed insecurity in Edo State. The party’s State leadership declared that the plans of the elements at the national secretariat of the party to interfere, derail and sabotage the workings of the State leadership of the party with a view to hoodwinking and hijacking the party for personal gains would be resisted. Party Chairman Dr Samson Falana Isibor, who gave the warning at a press conference in Benin City, att...
Nigerian stock market capitalisation opens week with N37 billion growth
The Nigerian Stock Exchange (NSE) resumed trading for the week on Monday on a positive trend, with the market capitalisation rising by N37 billion. Speficially, the market capitalisation which opened at N12.440 trillion rose by N37 billion to close at N12.477 trillion, indicating by 0.30 per cent. Also, the All-Share Index grew by 70.42 points or 0.30 per cent to close at 23,941.75 against 23,871.33 achieved on Friday. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Okomu Oil, MTN Nigeria, Unilever Nigeria, Lafarge Africa and GlaxoSmithKline. Analysts at Imperial Asset Managers Ltd stated that “This week, we expect market sentiment to be mild considering that risks remains broad following the increasing new cases of COVID-19 in Nigeria. ...
Edo APC leaders vow to replace Governor Obaseki during primaries
Leaders of the All Progressives Congress (APC) in Edo state have vowed to replace the incumbent governor, Mr Godwin Obaseki, during the primary election of the party, saying no amount of blackmail and intimidation would cow them into submission. In a statement issued Thursday in Abuja, the APC leaders said their views represent the several thousands of APC leaders, stakeholders and members In Edo State whose determination to replace Mr Godwin Obaseki in the forthcoming gubernatorial election is unwavering. Among those who signed the statement were a former Minister of State for Works, Engr Chris Ogiemwonyi, three former deputy governors, Dr Pius Odubu, Rev. Peter Obadan and Lucky Imasuen respectively. Others were Gen. Charles Airhiavbere Rtd, Pastor Osagie Ize-Iyamu, Hon. Saturday U. Idehe...
