In a historic development, the Nigerian Exchange Group (NGX) witnessed a monumental boost in investor wealth, as the local stock market surged by N1.806 trillion in just one day. This marked one of the most significant single-day gains in Nigeria’s capital market history, highlighting renewed investor interest and growing confidence in the nation’s economic direction. What Triggered the Market Rally? The surge was primarily driven by a sharp rise in the All-Share Index (ASI), which soared by 2,457.13 points, representing a 2.01% increase. The ASI closed at an unprecedented 124,446.80, breaking the 124,000 mark for the first time. This performance is a reflection of the current positive investor sentiment, boosted by Nigeria’s improving macroeconomic indicators, government-led economic reforms, and a more liquid financial market. Market Capitalization Sees Massive Jump The stock market’s total capitalization rose concurrently, climbing 2.35% to reach N78.726 trillion, up from N76.970 trillion recorded the previous day. This dramatic growth reflects not just investor confidence but also significant buying activity in key blue-chip stocks. Market Breadth: Bulls in Control A clear indicator of the bullish trend was the market breadth, which ended strongly positive. Out of all listed equities: Top Performing Stocks of the Day Several stocks reached their daily price limits of 10% growth, including: These stocks significantly contributed to the day’s massive gain and were instrumental in pushing the market to record highs. Losers of the Day: A Few Declines Despite the market’s positive swing, a few stocks closed in the red: Market Activity: Explosive Trading Volume The trading session also witnessed a spike in volume and value of transactions: This marks a significant increase compared to the previous day’s performance, which saw: Top Traded Stocks by Volume Some of the most actively traded stocks were: This record-setting day on the NGX signals growing optimism in Nigeria’s financial markets. Institutional and retail investors alike are regaining trust in the potential of Nigeria’s stock market amid government-backed economic interventions and an improved monetary outlook. If this trend continues, it could mark the beginning of a new bullish era for the Nigerian Exchange and open more doors for local and international investors seeking returns from African markets.
Daniel Bwala, the Special Adviser to President Bola Tinubu on Policy and Communications, has assured that the people of Borno South Senatorial District are fully committed to supporting President Tinubu’s Renewed Hope Agenda. Bwala made this statement during a civic reception held in his honor in Biu, Borno State, over the weekend. The event also celebrated several prominent individuals, including former Chief of Army Staff, Lt. Gen. Tukur Buratai (retd.), for their invaluable contributions to the nation. In his address, Bwala expressed his heartfelt appreciation for the recognition, describing it as a clear reflection of his unwavering dedication to the advancement of the country. He reiterated his strong commitment to President Tinubu’s vision, particularly in areas such as economic reforms, national security, and infrastructure development. He emphasized that these key priorities are in complete alignment with the values of the people of Borno South. Represented by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, President Tinubu commended Bwala for his significant contributions to the administration’s progress. Kyari also highlighted the crucial role played by the people of Borno South in supporting the federal government’s initiatives. Senator Kyari acknowledged that Bwala’s appointment underscores President Tinubu’s trust in his abilities. The gathering also provided a platform for community leaders and members to reaffirm their support for the federal government’s policies and collaborate towards fostering national growth and prosperity. Learn about the Renewed Hope Agenda and its impact on Nigeria’s development Read more on the Renewed Hope Agenda from Nigeria’s official government portal READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Channel
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Explore NACCIMA’s critical analysis of the 2025 budget and its recommendations for reviving Nigeria’s economy. Learn how reforms can empower the private sector and restore economic stability. The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has raised critical concerns about the nation’s economic trajectory in its New Year address. According to the organization, the private sector—the backbone of Nigeria’s economy—is struggling under the weight of flawed reforms, rising inflation, high borrowing costs, and a depreciating currency. Key Challenges Identified by NACCIMA Recommendations for Economic Stability 1. Reform Public Sector Spending: 2. Support Private Sector Growth: 3. Invest in Local Industries: 4. Enhance Skills and Digital Infrastructure: 5. Rethink Borrowing Strategies: Economic Reform Implementation: A Call to Action NACCIMA emphasized that the Tinubu administration must prioritize collaboration with the private sector to harness its innovative capacity and drive economic recovery. The association pointed to successful examples from 2014, when Nigeria achieved its highest economic ranking in Africa, as a model for reversing current trends. The Path Forward For 2025, NACCIMA proposed a comprehensive review of government policies to ensure alignment with the private sector’s growth potential. Key measures include: Conclusion As Nigeria navigates the challenges of 2025, the importance of private sector inclusion and sustainable economic policies cannot be overstated. NACCIMA’s recommendations provide a roadmap for addressing structural inefficiencies and fostering a resilient economy. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Massive Food Supply Boost as Nigeria Imports Rice Under Duty-Free Policy Nigeria has received a significant shipment of brown rice aimed at reducing soaring food costs affecting consumers. A 32,000-ton consignment, the first of its kind in a decade, recently arrived in Lagos. This delivery, facilitated by logistics company DUCAT, originated from Thailand and was made possible due to Nigeria’s temporary suspension of import tariffs on food crops such as wheat, corn, and rice, implemented last year. Despite the import duty waiver, many importers have remained cautious about large-scale purchases, concerned about the impact on local farmers. DUCAT CEO Adrian Beciri emphasized Nigeria’s ongoing efforts to expand food accessibility, stating, “Nigeria is actively seeking solutions to enhance and stabilize its food supply chain.” Nearly six months ago, Nigeria announced a series of strategies to control food inflation, which has surged to its highest rate in three decades. With almost half of the country’s population of over 200 million living in extreme poverty, the government introduced a 180-day window allowing duty-free imports of essential food crops. Agriculture and Food Security Minister Abubakar Kyari also revealed that imported foods will be sold under a recommended retail price system to prevent price exploitation. Further guidelines on enforcing the duty-free import measures are being finalized and will be released soon, according to a government official. Economic Reforms Impacting Food Prices Nigeria continues to face economic challenges linked to President Bola Tinubu’s reform policies since assuming office in May 2023. Key actions such as the devaluation of the naira and increased electricity tariffs have significantly contributed to price hikes, with food inflation reaching a 28-year peak of 41% in May. The naira’s depreciation, currently the world’s worst-performing currency after the Lebanese pound, coupled with rising costs, led the Central Bank to raise interest rates to a record high. The government recently announced plans to curb inflation through the “Inflation Reduction and Price Stability Order,” focusing on controlling price surges. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Tinubu Acknowledges National Assembly’s Role in Nation-Building President Bola Ahmed Tinubu has praised the unwavering support of the National Assembly over the past 19 months, describing it as a driving force behind his administration’s determination to lead Nigeria toward greater development and prosperity. Speaking on Wednesday in Lagos during a meeting with Vice President Kashim Shettima, the leadership of the National Assembly, and its former principal officers, Tinubu expressed his gratitude for their collaboration and commitment. “Nigerians are the core of our mission. We have embarked on this transformative journey to serve, to secure a better tomorrow, and to build a brighter future for the generations to come. Your dedication to progress and value creation will bear fruit for the unborn,” Tinubu stated. The President also reaffirmed his resolve to make bold and innovative decisions that drive national growth, emphasizing that courageous actions are essential for achieving substantial change. Drawing from a Yoruba proverb, he remarked, “It is only a courageous dog that will capture the animal in the bush.” National Assembly Leaders Express Support Senate President Godswill Akpabio lauded Tinubu’s courage and commitment to reforms, pledging the legislature’s unwavering backing. “On this journey of restoration, transformation, and nation-building, you are not alone. The National Assembly stands with you every step of the way,” Akpabio said. Highlighting the administration’s economic strides, Akpabio noted achievements such as the oversubscription of Nigeria’s Eurobond, improved ease of doing business, and growing investor confidence. “Your bold reforms and leadership have drawn investors to Nigeria, and we are optimistic about the benefits that will continue to unfold,” he added. Similarly, Speaker of the House of Representatives, Rep. Tajudeen Abbas, commended the President for his respect and collaboration with the legislature. Abbas pointed out that several key figures in Tinubu’s administration, including the President, Vice President, and other top officials, were former members of the National Assembly. “The National Assembly is more united and fulfilled than ever before. We appreciate your responsiveness to our needs and your dedication to alleviating poverty. This historic collaboration brings hope to Nigerians,” Abbas noted. A Unified Vision for National Growth The meeting underscored a shared commitment to advancing Nigeria’s development agenda. Tinubu’s administration and the National Assembly continue to work hand-in-hand, fostering an environment of collaboration and innovation for the nation’s progress. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Discover how President Tinubu’s National Credit Guarantee Company (NCGC) aims to boost access to financing for businesses, support underserved groups, and stabilize Nigeria’s economy. President Bola Tinubu has announced plans to establish the National Credit Guarantee Company (NCGC) by Q2 2025, a groundbreaking initiative designed to expand risk-sharing for financial institutions and ease business financing challenges in Nigeria. The NCGC will be a collaborative effort involving key government institutions like the Bank of Industry, the Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and the Ministry of Finance Incorporated, alongside private sector stakeholders and multilateral organizations. Relief for Businesses Amid High Interest RatesNigerian businesses have faced difficulties accessing financing at favorable rates, with the Central Bank of Nigeria’s (CBN) monetary policy committee setting a 27.50% interest rate benchmark in late 2024. This has pushed lending rates to nearly 35%, placing significant financial strain on enterprises. President Tinubu emphasized that the NCGC will address these challenges by expanding credit access, strengthening the financial system, and driving industrial growth. “This initiative will foster confidence in the financial system, support underserved groups such as women and youth, and lead to re-industrialization and improved living standards,” Tinubu stated. Economic Stability and Growth Prospects for 2025Reflecting on 2024’s economic hurdles, President Tinubu projected a brighter outlook for 2025, highlighting increasing foreign reserves, the stabilization of the Naira, and a consistent decline in fuel prices. Other positive indicators include record growth in the stock market, generating trillions of naira in wealth, and rising foreign investments signaling renewed economic confidence. However, Tinubu acknowledged that the high cost of food and essential drugs remains a pressing concern. To address this, the government is committed to: Collaboration Across Government LevelsTinubu urged state governors and local council chairpersons to collaborate with the federal government in leveraging emerging opportunities in agriculture, livestock, and tax reforms to drive national progress. Expert OpinionsEconomists have called for immediate measures to stimulate the manufacturing and SME sectors, which have been adversely affected by high interest rates. Muda Yusuf, former Director-General of the Lagos Chamber of Commerce and Industry, stated:“Manufacturers and investors need oxygen and stimulus, not policies that worsen an already challenging economic situation.” With the NCGC initiative and other reforms, Tinubu’s administration aims to stabilize the economy, improve living standards, and restore business confidence across Nigeria. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Senate President Godswill Akpabio has drawn a stark comparison, describing Nigeria’s economic condition as akin to being on “life support” when President Bola Tinubu assumed office in May 2023. Akpabio made this remark during his 2024 Constituency Briefing and Empowerment Programme, held at the Ikot Ekpene Township Stadium in Akwa Ibom State. As the representative of Akwa Ibom Northwest Senatorial District, Akpabio called for national solidarity to support President Tinubu’s ongoing economic reforms. He highlighted critical measures undertaken by the administration, including the removal of fuel subsidies, the floating of the naira, and tax policy reforms, as essential for reviving the economy. Speaking on the enormity of the challenges, Akpabio recounted a candid exchange with Tinubu:“I asked him, ‘Are you still excited about being president after inheriting this economy?’ He replied, ‘I didn’t know it was this bad.’” Despite the daunting situation, Akpabio expressed confidence in Tinubu’s ability to replicate his success as the former governor of Lagos State. “You did it in Lagos, and you’ll do it again for Nigeria. It’s only a matter of time. Our prayers are with you, and God will grant you wisdom to lead us to prosperity,” Akpabio said. Empowering Constituents and Advocating Peace At the event, Akpabio urged beneficiaries of the empowerment programme to maximize the tools provided for economic improvement instead of selling them. He assured attendees of sufficient distribution of food supplies beyond Ikot Ekpene to other senatorial districts in the state. He also lauded Akwa Ibom Governor Umo Eno for fostering peace and inclusivity, emphasizing that peace is crucial for sustainable development. “Governor Eno has embraced all Akwa Ibom citizens, irrespective of their political affiliations,” he noted. Akpabio praised the governor’s efforts in distributing food aid to both APC and PDP members and announced additional resources to promote unity and welfare. Leadership and Collaboration in the Senate Highlighting Senate operations, Akpabio commended Senate Minority Leader Senator Abba Moro for championing constructive collaboration. “Every senator has an equal voice, regardless of their party. Opposition is vital, but it must remain constructive,” Akpabio said. Senator Moro acknowledged Akpabio’s impactful leadership, adding: “It takes wisdom to provide lasting solutions rather than temporary fixes.” The programme also drew high-profile attendees, including the Minister of Petroleum Resources (Gas), Obongemem Ekperikpo Ekpo, and other distinguished leaders across political affiliations. Collective Efforts for a Brighter Future In his concluding remarks, Akpabio emphasized the importance of collective efforts to build a stronger Nigeria, assuring his constituents of his unwavering commitment to impactful developmental initiatives. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Former presidential spokesman Doyin Okupe has lauded President Bola Tinubu for showcasing brilliance, composure, and a solid understanding of national matters during his inaugural media chat held in Lagos on Wednesday. Reacting to the landmark event, Okupe praised Tinubu’s performance during the live broadcast, which aired on both the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN). The media chat served as a platform for Tinubu to address key national issues and engage with Nigerians directly. “Kudos to the president’s media team on the first presidential media chat. President Tinubu was bold and brilliant, demonstrating clarity and confidence in his expression,” Okupe remarked. “This, I dare say, proves he is an exceptional president. And I should know; I worked for two past presidents.” The session, held at Tinubu’s Lagos residence, marked his first direct interaction with journalists since assuming office 18 months ago. Key topics discussed included subsidy removal, proposed tax reforms, economic strategies, governance efficiency, and the fight against corruption. Okupe’s comments reflect widespread approval of the president’s approach, signaling a promising step in fostering open communication between the government and citizens. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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On Thursday morning, the Nigeria Governors’ Forum acknowledged the dire economic situation facing the nation and expressed sympathy for Nigerians, while also expressing hope that President Bola Tinubu’s reforms would soon have a good impact. Following the NGF meeting in Abuja, Senator Hope Uzodinma, the governor of Imo State and chairman of the Progressives Governors’ Forum, gave a media conference outlining the governors’ stance. Since rising petroleum prices have increased the cost of products and services, making it more difficult for many Nigerians to afford basic requirements, the withdrawal of the fuel subsidy has made economic problems worse. Under the leadership of Governor AbdulRahman AbdulRazaq of Kwara State, the NGF expressed hope that their recent discussions with Adeola Ajayi, the Acting Director General of the Department of State Security, and the National Security The adviser’s office would improve state-to-state security collaboration. “We also met with the Group Chief Executive Officer of NNPC Limited, Mele Kyari, who briefed us on the complete subsidy removal, the challenges the corporation faces, and his plans to alleviate the suffering caused by rising pump prices,” Uzodinma said, reading the NGF communiqué. “We hope that there will soon be respite. We recognize the suffering throughout the nation and have compassion for our people. We value the President’s continuing reforms and hope that the long-awaited relief will come quickly so that we can fully reap their advantages and strive for a better Nigeria. Uzodinma gave his word that the NNPC and other interested parties are making every effort to shorten gasoline lines. Additionally, he encouraged pertinent agencies to to fix refineries in Kaduna, Port Harcourt, and other locations in order to increase domestic output and reduce the cost of gasoline. “The Group CEO of NNPC Limited provided the Forum with an update on significant advancements in the company’s operations, such as the National Crude and Condensate Production profile, the Production War Room initiative, and security measures to prevent illicit connections and vandalism,” he continued. “Governors recognized the significance of these actions in safeguarding Nigeria’s energy resources and enhancing the effectiveness of NNPC’s supply chain and output. READ ALSO The African Medical Centre of Excellence (AMCE), a 500-bed specialty hospital dedicated to provide top-notch diagnosis and treatment in oncology, cardiology, and hematological care in addition to general medical and surgical services, also gave a presentation to the Forum.Realizing the potential of the AMCE to The governors reiterated their dedication to collaborations that facilitate the establishment of such specialized facilities in order to improve health outcomes across the country and strengthen Nigeria’s healthcare capabilities. Uzodinma promised Nigerians that the cost of living and conducting business will become more controllable with careful planning. The 36 state governors, he added, are dedicated to helping President Tinubu’s government protect the interests of all Nigerians. “The new Director General of the Department of State Security gave a presentation to the Forum on the security challenges that Nigeria is currently facing and the ongoing efforts to address them,” he added. The Director General urged the governors to promote recent interagency partnerships, improved oversight, and more robust enforcement efforts to stop illicit activity. Governors reiterated their support for joint national defense initiatives. Additionally, the Pioneer Director of State Liaison at the Office of the National Security Adviser briefed the Forum on improving communication and increasing cooperation with governments. The Director presented new tactics to encourage a coordinated response to national security issues and assist state-level security initiatives. Governors affirmed their dedication to actively participating in these concerted efforts and recognized the significance of this partnership. We Love To Have You Back. Pease kindly Provide Us With Your Email.
