FBN Holdings remained the most active, accounting for 30.73 million shares worth N107.99 million. Transcorp followed with an exchange of 20.07 million shares valued at N20.66 million, while Zenith Bank sold 14.22 million shares worth N185.69 million. Guaranty Trust Bank traded 11.19 million shares valued at N194.04 million and Access Bank traded 9.69 million shares worth N40.61 million. In all, investors traded a total of 181.11 million shares valued at N1.17 billion as against 178.87 million shares worth N1.48 billion exchanged on Thursday.
The bureau is of the view that Investors may be concerned about whether or not they will be able to repatriate the earnings from their investments, given the current controls on the exchange rate. In addition, as growth has slowed in recent quarters, adding that there may be concerns about the profitability of such investments. According to NBS, the first quarter of 2016 also saw a large change in the composition of capital imported.
Investigations revealed that members of the National Assembly committee were hard put to remove most of the vexatious items as demanded by the President and restore the votes originally earmarked for other projects and services. According to impeccable sources the major problem with the budget was how to remove most of the ‘padding’ from the budget and get the money allocated to them into other uses. It was learned that some members were protective of their projects and were not too keen to get them, and the amount attached to them, off.
Federal Government Wednesday outlined 34 projects and programmes which would be accorded utmost priority to ensure optimal performance of the 2016 budget. The development was in the anticipation of the presidential assent to the budget which may happen anytime soon.
The government said the action-plan was necessary to assist the present administration realize the objectives of the All Progressives Congress, APC embedded in the change agenda. The plan was announced by the Minister of State for Budget and National Planning, Zainab Ahmed after the Wednesday meeting of the Federal Executive Council, FEC presided over by the Vice President, Professor Yemi Osinbajo at the Presidential Villa, Abuja.
Addressing State House Correspondents alongside her colleagues which included the Minister of Information, Lai Mohammed, Minister of state Industry, Trade and Investment, Aisha Abubakar, Minister of State for Foreign Affairs, Hajia Khadijat Buka Abba, Ahmed revealed that 34 priority areas earmarked by the federal government for urgent attention. The areas, she said, spanned through the economy, trade and investments, security, health, power, Oil/Gas and agriculture.
She hinted that the budget might also be signed into law by President Mohammadu Buhari any time soon. She said: “We discussed the strategic implementation plan for the 2016 budget. “Our ministry’s presentation was introducing to council for discussion priority economic activities that we need to undertake to ensure that the purpose for which the 2016 budget was made which is to stimulate the economy, to create jobs for our teeming youths and to extend support to the poor and very vulnerable is realized.
“We presented 34 strategic priority programmes that need to be realized within 2016. Each of these projects programmes has very clear deliverables and targets and indicators which will be measured to ensure that the respective Ministries, Departments and Agencies (MDAs) deliver on what we committed to implement. “These 34 specific areas are grouped into four major objectives. The first is policy, governance and security, second diversification of the economy, the third is creating support for the poor and the vulnerable and the forth is reflecting our economy through investment. “The paper was well received by council. We got some very positive comments and the 34 priority projects were approved for implementation.
Against an allegation that Nigeria was still accessing hydrocarbon from the oil rich Bakkassi Penunsula despite the judgement of the International Court of Justice, ICJ that ceded region to the Republic of Cameroon, President Mohammadu on Wednesday in Abuja told the country’s president, Mr. Paul Biya and his people to put their mind at rest.
President Muhammadu Buhari (Right), and President of Cameroon Mr. Paul Biya, during a dinner in honor of the visiting President of Cameroon, at the Presidential Villa Abuja on Tuesday Night Answering questions at a joint press briefing which followed the signing of a bilateral agreement and security, amongst others, between Nigeria and Cameroon, the president stated that a committed had been set up with members from both countries to deliberate on the matter. He remarked that while the report of the committee was being awaited, the country needed not to worry as Nigeria would not go contrary to the decision of the ICJ. He said: “On this issue, I will like the government and people of Cameroon to keep their minds at peace.
Nigeria, we are an internationally respectful and abiding nation. Somehow there was a crisis between the two nations on Bakassi Penisula over the hydrocarbon exploitation. This issue is being dealt with by the International Court of Justice. “The technical part of the extent of international interest forms the second part of your question. On maritime resources, there is a committee of experts comprising Cameroon and Nigeria sides. I cannot fully answer that question until after the results of this committee report gets to us and when they submit the report, I expect that with a few of us that are still around, we shall sit together and see what is the best way for the two countries. So, feel secured and be at peace.”
Also reacting to a question of why Cameroon allegedly harboured suspected terrorists who ran to the country for safety, visiting president Pual Biya said that the allegation was unfounded. He maintained that Cameroon was committed to ending insurgency in lake Chad basin. “Yes I have had of this information. I heard it in New York during conferences that Cameroon serves as basis for Boko Haram but what can Cameroon benefit from that? Is it the ideologies? Are we going to benefit from finances? No. It was just bad press. Cameroon remains focused and committed to the fight against Boko Haram”, he said.
Meanwhile, president Buhari at a dinner and cultural night organized in honour of the visiting President of Cameroon and his wife, Chantal Biya at the Presidential Villa,on Tuesday night appreciated the government for giving protection to over 56,000 Internally Displaced Persons from Nigeria since July 2014. The president at the dinner that attracted the Senate President Bukola Saraki; Speaker of the House of Representatives, Yakubu Dogara, Chief Justice of the Federation, Mahmud Muktar and top private sector and government functionaries from Cameroon also thanked the United Nations, UN and other international donor agencies for their various assistances to IDPs across the country just as he condoled with the families of Boko Haram victims along the Nigeria/Cameroon border.
He said: “Our special condolences go to families of our fallen heroes who had sacrificed their lives to safe guard our territorial integrity and provide security of lives and property of our people “Permit me to use this occasion of your Excellency’s visit to Nigeria to once again extend my personal gratitude and that of the Federal Government for your country’s hosting of over 65,000 Nigerian refugees since July 2014. “We also appreciate the assistance of the United Nations System, International donors, local and international non-governmental organisations and the ordinary Cameroonian families who share their meager provisions with the refugees in the spirit of African brotherhood. We thank them all”.