Headlines – First Ideas Limited

Headlines

Investors Lose N32.24bn WoW as NGXASI Dips by -0.13% to Close the Week Negative

Equities market closed on a negative note, as NGXASI depreciated by -0.06% to close at 47,268.61 basis points as against -0.14% depreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +10.66%.         

Market breadth closed positive as JOHNHOLT led 20 Gainers as against 17 Losers topped by ROYALEX at the end of today’s session an improved performance when compared with previous outlook. 

Market turnover closed negative as volume moved down by -26.33% as against -13.04% downtick recorded in the previous session. FCMB, ZENITHBANK and FBNH were the most active to boost market turnover.  ZENITHBANK and MTNN topped market value list.

AFRINSURE leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

Mr. Austin Avuru Resigns as Non-Executive Director of Seplat Energy Plc

The Board of Seplat Energy Plc today announces the resignation of Mr. Austin Avuru, a Non-Executive Director from the Board of SEPLAT Energy with effect from 1st March 2022. In line with the provisions of the Company’s Memorandum and Articles of Association, his replacement will be nominated to the Board.

The Board wishes to sincerely thank Mr. Avuru for his founding role and contribution to SEPLAT Energy for the past decade.

Insecurity threatens progress of FG’s 700MW Zungeru power plant

Nigeria’s plan to complete the 700 megawatts Zungeru Hydroelectric Power Station has continued to suffer setbacks, rising insecurity in the North-west forcing workers out of the construction site. The federal government had set December, 2021 for the completion and inauguration of the project,

 

 

Covid-19 increased anxiety, depression by 25%, study shows

The global prevalence of anxiety and depression increased by 25 percent during the first year of the COVID-19 pandemic, a study has shown. The study highlights the unexpected stress caused by the social isolation resulting from the pandemic as one of the major triggers for the increase.

No Nigerian will be stranded in foreign land – Buhari

President Muhammadu Buhari has assured that no Nigerian will be stranded in foreign land, adding that his administration will continue to defend the interest of Nigerians wherever they may be. President Buhari made this assertion Thursday in Nairobi, Kenya at a Town Hall Meeting with a group of Nigerians residents

Gas rich Nigeria can’t find enough for its power plants

Nigeria may be sitting on over 600TCF of unproven gas reserves, some of the highest untapped volumes on the continent, but its power plants are struggling to find enough of the commodity to turn the lights on for millions of its people.

Amid poor power supply, FG vows to sanction Discos

As many homes and businesses continue to groan under poor power supply and lack of prepaid meters, the Nigerian government has vowed to sanction “underperforming” distribution companies.

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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