Tag: stock

  • Can A Reverse Stock Split Lead To Long-Term Growth?

    Can A Reverse Stock Split Lead To Long-Term Growth?

    A reverse stock split is the opposite of a regular stock split. Instead of dividing existing shares into more shares, a company combines multiple shares into one. For example, in a 1-for-10 reverse split, if you had 10 shares worth $1 each, they would be combined into one share worth $10. The total value of your investment remains the same; you just end up with fewer shares. Could a reverse split foster growth? Visit immediate-apex.com and connect with partnered education firms to learn about investing tactics.

    Can Reverse Stock Splits Spark Long-Term Growth?

    So, can a reverse stock split actually lead to long-term growth, or is it just a way to put a fresh coat of paint on a sinking ship? It depends. A reverse stock split can sometimes be a stepping stone to a brighter future, but it’s not a magic trick. The key lies in what the company does after the split.

    For companies using a reverse split to regain compliance with stock exchange rules, it can be a chance to buy time. The stock price might get a quick boost, making it look more appealing to investors who avoid “penny stocks.” But this strategy only works if the company has a solid plan to improve its business and grow in the long term.

    Without that, the higher stock price might just be a temporary illusion. Think of it like patching a hole in a leaky boat—great if you plan to fix the boat soon, but not enough to keep you afloat forever. For some companies, a reverse split can signal a new direction. Maybe they’re cutting costs, paying down debt, or launching new products.

    In these cases, the reverse split might mark the beginning of a turnaround. However, if there’s no follow-through, investors may lose confidence quickly. Before jumping in, it’s important to look at why the company is doing a reverse split and whether they have a solid plan for growth.

    The Good, the Bad, and the Risky

    Reverse stock splits come with their share of pros and cons. On the bright side, a reverse split can make a stock look more attractive. Many institutional investors have rules against buying stocks below a certain price, so a higher share price can open doors to new investment.

    It can also help the company stay listed on major exchanges, which brings more visibility and credibility. If the company is genuinely on the path to recovery, this visibility can be a game changer.

    But there’s a downside. Some investors see reverse splits as a red flag. They might assume the company is desperate or trying to hide deeper problems. After all, if a company is thriving, why would it need to tinker with its stock price?

    Sometimes, reverse splits are seen as a last-ditch effort to stay afloat, and that can scare off potential buyers. So, while a reverse split can make the stock more accessible, it can also raise concerns about the company’s health.

    How to Approach Investing After a Reverse Stock Split?

    If you’re thinking about investing in a company that’s just had a reverse stock split, take a step back and consider a few things. First, ask yourself why the company chose to do the split. Is it to avoid delisting, or is there a bigger plan at play? If it’s the former, be cautious. Stocks that are struggling to stay listed can be risky, and the reverse split might just be a quick fix.

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    Next, take a close look at the company’s business strategy. Are they cutting costs, launching new products, or entering new markets? A reverse split can be a signal that a company is ready to make changes, but it’s up to you to decide if those changes will lead to growth. Think of it like buying a fixer-upper house; it might have potential, but you need to see a plan for renovation, not just a new coat of paint.

    Finally, don’t let the higher share price fool you. A reverse split can make a stock look more expensive, but it doesn’t change the overall value of the company. If a stock was worth $1 per share and is now $10 per share after a 1-for-10 reverse split, your investment hasn’t grown—there are just fewer shares. So, make sure you’re looking at the big picture, not just the price tag.

    Before making any investment decision, it’s wise to do thorough research and consult financial experts. Reverse stock splits can sometimes lead to long-term growth, but they can just as easily be a sign of trouble. By taking the time to understand the company’s motives and future plans, you’ll be better equipped to make a smart choice.

    Conclusion

    Reverse stock splits often get a bad rap, but they’re not always a sign of trouble. For some companies, a reverse split can be part of a broader plan to improve and grow. It can attract new investors, keep the company listed on major exchanges, and buy time for a turnaround. But it’s important to look beyond the surface.

  • Thinking Outside the Stock Market: Exploring Alternative Investments

    Thinking Outside the Stock Market: Exploring Alternative Investments

    Introduction to Alternative Investments

    Alternative investments refer to any investment outside of traditional asset classes like stocks, bonds, and cash. In recent years, there has been a growing interest in alternative investments among investors seeking to diversify their portfolios and potentially achieve higher returns. This shift is driven by several factors, including market volatility, low interest rates, and the desire for non-correlated assets. To understand the landscape of alternative investments, it’s essential to explore the various types available and their associated benefits and risks. For easy access to these resources and to delve deeper into the realm of alternative investments, head to the home page of their website.

    Types of Alternative Investments

    Real Estate Investments: Real estate has long been a popular alternative investment, offering potential for appreciation, rental income, and portfolio diversification. Investors can buy residential or commercial properties directly or invest indirectly through real estate investment trusts (REITs) or crowdfunding platforms.

    Commodities Trading: Commodities such as gold, oil, and agricultural products offer opportunities for diversification and hedging against inflation. Investors can trade commodities through futures contracts, exchange-traded funds (ETFs), or commodity-specific mutual funds.

    Private Equity: Private equity involves investing in privately-held companies that are not traded on public stock exchanges. Private equity investments can provide significant returns but typically require long-term commitments and may have higher minimum investment requirements.

    Venture Capital: Venture capital entails investing in early-stage startups with high growth potential. While venture capital investments carry significant risks, successful investments can yield substantial returns, making them attractive to investors seeking exposure to innovative companies.

    Hedge Funds: Hedge funds employ various strategies, including long-short equity, event-driven, and quantitative trading, to generate returns that are uncorrelated with traditional markets. Hedge funds often have higher fees and minimum investment requirements compared to traditional mutual funds.

    Collectibles: Collectibles such as art, wine, classic cars, and rare coins can serve as alternative investments. These assets often have aesthetic or sentimental value in addition to potential financial returns, making them appealing to certain investors.

    Benefits of Alternative Investments

    Alternative investments offer several benefits that may not be available through traditional asset classes:

    Diversification Benefits: Alternative investments have low correlations with stocks and bonds, providing diversification benefits that can help reduce portfolio volatility and enhance risk-adjusted returns.

    Potential for Higher Returns: Alternative investments have the potential to generate higher returns than traditional asset classes over the long term, especially in environments of low interest rates and subdued stock market performance.

    Lower Correlation to Traditional Markets: Alternative investments often exhibit different return patterns than stocks and bonds, making them valuable for diversifying portfolios and mitigating risk during market downturns.

    Hedge Against Inflation and Market Volatility: Certain alternative investments, such as real estate and commodities, have historically served as effective hedges against inflation and market volatility, helping investors preserve purchasing power over time.

    Risks Associated with Alternative Investments

    While alternative investments offer potential benefits, they also come with unique risks:

    Illiquidity: Many alternative investments, such as real estate and private equity, have limited liquidity, meaning they cannot be easily bought or sold like publicly-traded securities. Illiquidity can pose challenges for investors needing to access their capital quickly.

    Lack of Transparency: Alternative investments often lack the same level of transparency as publicly-traded securities, making it difficult for investors to assess underlying risks and performance accurately.

    Higher Fees: Alternative investments typically have higher fees than traditional mutual funds and ETFs, including management fees, performance fees, and carried interest, which can erode returns over time.

    Regulatory Risks: Alternative investments are subject to less stringent regulatory oversight than traditional asset classes, increasing the potential for fraud, conflicts of interest, and regulatory scrutiny.

    How to Invest in Alternative Investments

    Investing in alternative investments requires careful consideration and due diligence:

    Direct Investment vs. Through Funds: Investors can access alternative investments directly by purchasing assets or indirectly through investment funds, such as hedge funds, private equity funds, and real estate investment trusts (REITs).

    Due Diligence Process: Before investing in alternative assets or funds, investors should conduct thorough due diligence, including researching the investment strategy, track record, fees, and risks associated with the investment.

    Understanding Risk-Return Profiles: Alternative investments encompass a wide range of asset classes and strategies, each with its own risk-return profile. Investors should assess their risk tolerance, investment objectives, and time horizon when considering alternative investments.

    Case Studies

    Success stories of investors in alternative investments can provide valuable insights:

    Real Estate Investments: A case study of an investor who achieved significant returns through strategic real estate investments, leveraging rental income and property appreciation.

    Venture Capital: A case study of a successful venture capital investment in a tech startup that resulted in a lucrative exit, highlighting the potential for high returns in early-stage investing.

    The Future of Alternative Investments

    The future of alternative investments is shaped by emerging trends and technological advancements:

    Emerging Trends: Trends such as impact investing, environmental, social, and governance (ESG) criteria, and digital assets are reshaping the landscape of alternative investments, providing new opportunities for investors.

    Role of Technology: Technology is playing an increasingly important role in alternative investments, facilitating access to investment opportunities, improving transparency, and enhancing portfolio management and risk analysis.

    Regulatory Developments: Regulatory developments, such as increased scrutiny of alternative investment funds and the adoption of new regulations governing digital assets, will continue to impact the future of alternative investments.

    Conclusion

    Alternative investments offer investors opportunities for diversification, potential for higher returns, and hedges against market volatility and inflation. However, they also come with unique risks and challenges that require careful consideration and due diligence. By understanding the various types of alternative investments, their benefits and risks, and how to invest in them effectively, investors can make informed decisions to build resilient and diversified portfolios for the future.

  • Stock market transactions soar to N2.42tr

    Stock market transactions soar to N2.42tr

    Total transactions at the Nigerian equities market have risen to N2.42 trillion on the back of intensive bargain-hunting for Nigerian equities.

    A report by the Nigerian Exchange (NGX) obtained yesterday indicated that the equities market witnessed additional transactions worth N530 billion to hit N2.42 trillion in the first eight months of this year.

    The trading report for the eight-month period ended August 31, showed that total transactions rose to N2.42 trillion by August as against N1.89 trillion recorded in the first eight months of 2022, representing an increase of 28.04 per cent or N530 billion.

    The report included transactions by foreign and domestic investors and it is used as a measure of the mood of the investing public, within a period.

    A month-on-month breakdown showed that foreign portfolio inflows increased by 45.9 per cent to N13.79 billion in August 2023 as against N9.45 billion recorded in July 2023. Foreign outflows dropped from N31.09 billion in July 2023 to N23.37 billion in August 2023.

    Transactions attributed to domestic investors rose from N1.585 trillion in forts eight months of 2022 to N2.19 trillion by August 2023. Foreign transactions dropped from N301.37 billion in 2022 to N222.78 billion in 2023, due largely to significant decline in foreign transactions in the early months of the year.

    The overall performance of the equities market this year has largely been influenced by what the market described as “post-inauguration rally”, referencing the positive sentiments that have trailed the pro-market reforms of the Bola Tinubu administration.

    The NGX had stated that experts’ opinions on the strong performance of the market were that the bullish trend was due to “a combination of factors, including investor sentiment influenced by macroeconomic developments such as the formation and swearing-in of the economic cabinet by President Bola Tinubu”.

    The NGX had also attributed the market performance to the “audacious macroeconomic reforms under the new administration” of Tinubu.

    According to the NGX, market operators were of the view that “the policies of the new administration under President Bola Tinubu” had “led to the rise in the fortunes of investors”.

    Transactions at the NGX had risen by 22 per cent to cross the N2 trillion threshold to N2.15 trillion in the first seven months of this year, the best performance in 10 years, since 2014 that the NGX started publication of its monthly foreign portfolio investment report, a general report that captures transactions by local and foreign investors at the Nigerian market.

    The report, for the period ended July 31, 2023, showed that total transactions for the seven-month period increased to N2.154 trillion in 2023 as against N1.763 trillion recorded in the comparable seven-month period of 2022.

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    Total transactions for the first four months of 2023 stood at N721.44 billion, slightly above N702.98 billion recorded in July 2023 alone. Total transactions for the three-month period of May to July 2023 stood at N1.433 trillion, about 99 per cent above total transactions in the first four months and 66.53 per cent of total transactions so far this year.

    The report also showed that foreign investors appeared to have taken initial note of the reforms, although several analysts expected foreign investors to tarry awhile in the usual “wait-and-see” attitude of measuring the stability of a policy direction.

    A report on foreign portfolio investments (FPIs) by the NGX had shown an all-positive mark for the Nigerian investment market with increased transactions by foreign and domestic investors in second quarter 2023. Foreign portfolio investors were also retaining more funds in the Nigerian market, reversing the negative situation in the previous months when there were more outflows than inflows.

    Total foreign transactions rose by 70.1 per cent in the second quarter 2023 as against first quarter 2023, driven by 197.5 per cent increase in inflows. FPIs net status- the difference between outflows and inflows, changed from a deficit of 49 per cent in first quarter 2023 to a surplus of 43.9 per cent in second quarter 2023.

    The performance in the second quarter was driven largely by a dramatic recovery in foreign interest in May, which continued in June; supporting equally ecstatic performance by domestic investors.

    The report indicated retail domestic transactions increased by 40.70 per cent from N88.50 billion in May to N124.52 billion in June 2023, showing that more individual Nigerians were optimistic about the economy despite the immediate challenges that greeted major policy changes. Institutional composition of the domestic market increased by 19.9 per cent from N197.26 billion in May 2023 to N236.49 billion in June 2023.

    Total FPIs transactions rose from N53.71 billion in first quarter to N91.37 billion in the second quarter. FPIs inflows tripled from N18.12 billion in first quarter to N53.9 billion in the second quarter. Total FPIs outflows, which had stood at N35.59 billion against inflow of N18.12 billion in first quarter, was less significant at N37.47 billion against an inflow of N53.9 billion in the second quarter.

    Global stock data tracked by The Nation’s Market Intelligence at the weekend indicated that African stock markets dominated the top five global market returns and were the largest continental bloc within the world’s top biggest returns so far this year.

    The data included the most prominent stock markets and cut across the various tiers of advanced, emerging and frontier markets. These included United States, United Kingdom, Germany, Japan, France, Hong Kong, Russia, India, Brazil, China, Thailand, Turkey, Saudi Arabia, Qatar and United Arab Emirates (UAE). African markets included Nigeria, South Africa, Kenya, Morocco, Ghana, Egypt and Mauritius.

    Turkey’s BIST 100 Index indicated highest return of 45.6 per cent. Egypt led the African group with the EGX 30 Index returning 37.6 per cent so far this year, the second highest return among tracked global stock markets. Nigeria placed third on the global list with average return of 31.4 per cent. Ghana’s GSE Composite Index indicated average return of 29.6 per cent. United States’ Nasdaq Index posted average return of 26.9 per cent, but this was moderated by average return of 13.2 per cent by the S & P 500 Index. Japan’s Nikkei 225 Index placed sixth with 24.2 per cent.

    Other top-10 returns included Germany’s Xetra DAX, 11.9 per cent; France’s CAC 40 Index, 11.2 per cent; Morocco’s Casablanca Masi Index, 9.8 per cent and India’s BSE Sens Index, which posted average return of 8.5 per cent.

    With the exception of Kenya, which posted negative return of -9.4 per cent; the two other African stock markets- Mauritius and South Africa recorded modest return of 1.8 per cent and 0.8 per cent respectively.

    Other global markets with year-to-date positive returns included United Kingdom’s FTSE All Share Index, 2.7 per cent; Brazil’s Ibovespa, 6.4 per cent; Russia’s RTS Index, 2.8 per cent; China’s Shanghai Composite Index, 1.4 per cent and Saudi Arabia’s Tadawul All Share Index, with average year-to-date return of 4.5 per cent.

    However, Hong Kong’s Hang Seng, Thailand’s SET Index, UAE’s ADX General Index and Qatar’s DSM 20 Index reported negative returns of -8.7 per cent; -8.8 per cent; -3.5 per cent and -3.4 per cent respectively.

  • Stock Exchange to mobilse capital for Fed Govt’s agenda

    Stock Exchange to mobilse capital for Fed Govt’s agenda

    Chief Executive Officer, Nigerian Exchange (NGX), Mr. Temi Popoola, has reiterated the commitment of the Exchange to lend its support to the Federal Government’s economic rejuvenation programmes.

    He said NGX aims to support government by mobilizing capital that will address government challenges and foster wealth creation for Nigerians.

    Speaking on the sidelines of a Roadshow to BBC in London, Popoola highlighted the privatization initiatives in the telecommunications sector as a compelling illustration of this concept.

    He pointed out that President Tinubu’s administration, presently engaged in tax reforms to boost revenue, can harness the potential of the capital market to create value and simultaneously achieve its objectives while delivering returns to investors.

    As part of ongoing endeavors to attract foreign investors to the Nigerian economy, Mr. Wale Edun, the Minister of Finance and the Coordinating Minister of the Economy, ceremonially rang the opening bell at the London Stock Exchange yesterday to spotlight the London arm of the Roadshow.

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    Since the onset of the COVID-19 pandemic in 2020, foreign investment in Nigeria has experienced a significant decline, mirroring the trend observed in other emerging economies during the same period.

    “What we are trying to achieve is to emphasize to investors that Nigeria is open for business and also reinforce that the enormity of the challenges are clear and work has begun to address all the issues. Whether capital inflows or foreign exchange illiquidity, NGX remains a veritable platform for solving these economic challenges,” Popoola said.

    According to him, encouraging listings can also address government’s problems including tax revenues, and create value for shareholders as listed companies have better governance and are more accountable with tax payment.

    Also speaking to Sky News on the sidelines of the LSE Roadshow, Michael Nzewi, Managing Director, CardinalStone Partners stated that the aim of the roadshow was to capitalize on the pace of reforms by the new administration and reverse the trend of foreign capital outflows, noting that his firm is willing to collaborate closely with NGX to ensure the Roadshow creates substantial impact.

  • Nigeria’s infrastructure stock hits 35 per cent, says expert

    THE value of Nigeria’s total infrastructure stock, comprising  road, rail, power, airports, water, telecoms and seaports, has been estimated at 35 percent of the country’s gross domestic product (GDP).

    This figure is believed to a very small when compared to Nigeria’s peer in the emerging market, whose average stands at 70 per cent.  This, stakeholders say, makes it imperative for an urgent and critical assessment of the infrastructural development in the country.

    Global Properties Partners (GPP) Managing Director/CEO, Mr. Emmanuel Odemayowa, observed that the issue of infrastructure development could not be overemphasised until it was gotten right.

    According to Odemayowa, this is the basis for the second GPP’s National Infrastructure Summit slated for next November in Abuja.

    He explained that the summit will “focus exclusively on creating avenues that generate sustainable income and wealth through global partnerships” as well as serve as “a platform for the engagement of global institutional investors for infrastructure development.”

    Odemayowa disclosed that the summit would build on its first edition held in Lagos last year, where several critical issues on infrastructure financing and the creation of an enabling environment for infrastructure development in the country were discussed extensively.

    The summit, he further assured, would attract leading international and Nigerian professionals from across the globe as well as top government functionaries and policy makers.

    “The organisation of this year’s event in Abuja was to make for a more robust and meaningful exchange of ideas between the public and private sector on the way forward for this sector in the country,” he said.

    The GPP chief further said the summit was part of the company’s efforts to promote global best practice in the infrastructure sector in the country, given Nigeria’s vast economic potentials.

    Among the highlights planned for this year’s event will be the first Infrastructure Award Night in the country, where private and public sector professionals as well as institutions that have contributed significantly to infrastructure development in the country will be recognised and honoured.

    GPP a consortium of firms with diverse interests in real estate and infrastructure development.

  • Two years on, LASU VC takes stock

    Two years on, LASU VC takes stock

    Lagos State University (LASU) Vice Chancellor Prof Lanre Adigun Fagbohun is celebrating his second year in office. Many of the workers are praising him for turning things around since he assumed office on January 11, 2016. But the Academic Staff Union of Universities (ASUU) says nothing has changed under him. ADEGUNLE OLUGBAMILA reports

    When Prof Lanre Adigun Fagbohun resumed as the eighth Vice-Chancellor of Lagos State University (LASU) on January 11, 2016, the institution was reeling in crisis. Two years after, the school has known peace. But to the Academic Staff Union of Universities (ASUU) it is “peace of the  graveyard”. Many of the workers who are praising the VC, do not agree with ASUU.

    Non-academic  Staff union leaders and students are happy about the peace that prevails in the 34-year-old institution. They advised management to consolidate on staff welfare, which was described as one of the most contentious issues in the institution.

    Describing as “fragile” the peace on campus, ASUU said the management takes delight in self glorification and victimising perceived enemies.

    “Indeed LASU looks calm and peaceful, but it is the peace of the graveyard, said ASUU-LASU secretary Dr Anthony Dansu.

    The Fagbohun-led administration came on board on the heels of the crises that led to the exit of  the immediate past management which  contended with workers’ allegations on victimisation, non-promotion, double standard, corruption, and high-handedness, among others.

    Last week, the information unit of the university came out with a lengthy statement reeling out the achievements of the Fagbohun management watch.

    Tagged: Two years in office: Prof Olanrewaju Fagbohun heralds a new dawn in LASU, the institution’s Acting PRO Ademola Adekoya, who signed the document, spoke glowingly of his boss. Adekoya reeled out management’s achievements ranging from engendering peace via all-inclusive governance; encouraging human capacity development; entrenching culture of discipline and rule of Law; ensuring the take-off of LASU International School; improvement in physical infrastructure; initiating quality assurance implementation committee; and ensuring a cordial relationship between students and  staff.

    Others include: improved staff welfare and promotion; instituting LASU Excellence Award; sustenance of   LASU  Scholars’ Award; replacing LASU External System with open distance learning;  establishment of directorate of advancement;  reclamation of encroached land; running a committee-based system, improved  scholarships and international ratings.

     

    Crisis with ASUU

    Last  September the governing council  sacked 15 members of ASUU and two non-academic staff. The axed ASUU members were led by the chairman and vice; Dr Isaac Akinloye Oyewunmi and Dr Adebowale Adeyemi Suenu, respectively.

    Justifying their sack, the university said Oyewunmi was dismissed for demanding N50, 000 from 2003 modular year students of Political Science Education on the sandwich programme to process their results. Similarly, management said Adeyemi Suenu was fired for unilaterally altering the results of 12 students already advised to withdraw by Senate. Nevertheless, the issue has continued to generate accusations and counter accusations between the two parties with the Lagos Zone of ASUU, which last month, called on the Lagos State Governor Akinwunmi Ambode to intervene by setting up an independent panel to review the case. ASUU is claiming their union leaders were being unduly victimised.

    In response to a request by The Nation, Dansu, described some of management claims as dubious.

    He said: “The Vice Chancellor is claiming credit for the improvement in infrastructure. It is a dubious claim, mainly because what the state government did was agreed between the Visitor and the four staff unions long before his emergence. For a university that receives close to half a billion naira monthly as subvention, the infrastructural development programme of this administration has been far from impressive”.

    He continued: “Greater attention is being paid to jamboree and fanfare than the core essence of a university. The university just declared it admitted 3500 students out of possible 8000 because of infrastructural deficit. This is a lower figure than that of last year. What it means is that in terms of capacity, the university is in a worse position than it was last year. Thousands of Lagosians have been denied admission because the administration has been inept in the discharge of its basic responsibilities. It prefers to run after imaginary enemies.

    “The university administration is busy sowing the seeds of crises within the system. Union leaders are being unjustly dismissed, our condition of service jointly agreed with all the unions was recently consigned to the bin and rewritten by the administration, with the most draconian insertions imaginable smuggled into it.

    “It is therefore, clear that whatever progress members of staff are making, it is in spite of the administration, not because of it. We can only hope that two years of excitement and revelry will be enough, so that the remainder of the tenure of the administration can be dedicated to serious pursuits capable of uplifting the university.”

    Reacting to ASUU claim, Adekoya said the release was not initiated by Fagbohun but by the Information Unit which felt the world needs to be informed of what the management is doing.

    Aside, Adekoya said ASUU should  praise management for ensuring that all promotion arrears have being addressed.

    “Before this management came on board, there were staff who had remained on the same status for like seven or eight years. But I can tell you categorically that all outstanding promotion arrears have been resolved, same for salary arrears and bonuses.

    “Over the last two sessions academic activities have not been disrupted by any crisis.

    “It is true management admitted about 3500 students in the current admission exercise, that is the decision and management would not compromise on that.

    “The reason for this is that before now, LASU used to admit many students thereby overstretching the facilities.

    “Last year, management admitted over 6000 students and had to provide additional facilities for them in addition to students already in the system. However, this year, we want to manage our resources by ensuring our facilities can cater for those we have offered admissions. Most importantly, we are being careful not to run foul of National Universities Commission rules because once you continue to overstretch your resources; you are gradually at the verge of losing your accreditation status.”

     Read Also: LASU must adhere to rule of law, due process – VC

    Workers lend their voices

    Workers who spoke to The Nation said Fagbohun, a professor of Environmental Law, is living up to the promises he made at State House Alausa during his inauguration two years ago; yet the present atmosphere calls for synergy if the peace in the institution must be sustained.

    Chairman Non Academic Staff Union of University Comrade Albert Agosu, said management needs to consolidate on its efforts before the outstanding three years is completed.

    “It will be unfair of me to say he (Fagbohun) has not tried, especially in terms of staff welfare. He has human feelings and he is making progressive impact.

    Agosu continued: “Naturally, there is no perfect system but to a large extent, those challenges he inherited from his predecessor had been addressed.”

    Agosu said the derelict state of many of staff quarters does not befit the ongoing rebranding agenda.

    “When  Governor Ambode attended our convocation last year, he pleaded that what he wanted was peace and promised every other thing would follow. At present, there is a 600-capacity hostel in LASU courtesy of PPP; but there is a hostel nearing completion and built by the immediate past governor. Unfortunately, that hostel has since been abandoned for no reason.  That project needs to be revisited.

    “Over the last two years, LASU has witnessed peace; yet there is a need to work in concert so as to ensure we can sustain this peace in the next three years.”

    His counterpart in SSANU Comrade Saheed Oseni agreed with him.

    “At present, there is peace in LASU but we must not allow it degenerate,” Oseni said.

    “I will appeal to management to ensure issues bordering on staff discipline are treated fairly and without bias in the interest of all.

    “We still have contentious issues on staff welfare and few other things. Management is trying but workers are Oliver Twist. We shall continue to ask for more.

     

    Students’ Union also react

    LASU Students Union President Samuel Olalere, noted that students are working in concert with management to evolve a new LASU brand.

    “The hooliganism and gangasterism that used to be a part of students activities are fast ebbing away. So far, we have been able to key into the LASU brand and this has changed the perception of outsiders about us either within or outside the country.

    “The culture of discipline has also made students to sit up, and the awards of scholarships to outstanding students, is now prodding many of us towards academic excellence.

    That notwithstanding, Olalere said the recent introduction of N20,000 Acceptance Fee by management is unjustifiable.

    “Management said they needed to jerk up the university IGR and they are justifying it by saying our tuition (N25,000 across board) is relatively low when compared with other institutions.

    “However, we feel the management is not prudent enough. As Student Union, each student pays N450 as Student Due; in the end what gets to SU is N125, and from these we are able to organise more student-centred activities. Therefore, it is we students that need more of this IGR because of our various activities.  So if despite the meagre N125, we are still able to manage and organise these programmes successfully, then I don’t see any reason why management could not operate within its present means.”

    Prof Abiodun Akinpelu of LASU Faculty of Education said his sacked colleagues unfortunately were victims of the new era of discipline management introduced.

    He said: “We are all made to follow laid down rules and regulations in our official transactions, else we face the consequences. Era of impunity was truly visited, and lasting discipline introduced at all levels. It was however sad that some of the cases during the period degenerated to the level of dismissal of some staff. We can see everyone working more cautiously, no more business as usual. Working however became strenuous as we had so many deadlines with quite a lot of assignments. This actually led to the unprecedented achievements. It’s now glaring that more hands would be needed especially where some staff retired and there’s no replacement for some years now.”

    “The past twoyears have brought an end to groaning along the lines of promotion. Over 123 academic staff got elevated to professorial cadre within the period while a good number of non-academic staff got lifted to higher cadres too. This is quite unprecedented in the history of the university.”

    A lecturer from the Faculty of Science who pleaded not to have his name mentioned, lamented that the problem of LASU is the failure to learn from history.

    “When you look at LASU’s problems over the years, there is nothing spectacular.The situation has remained the same. For me, it is not only about the personality of the VC, it is about those praise singers surrounding him.

    “There are lecturers in this institution who for long have left the core essence of teaching. Their job is to curry favours of whoever is in power in a bid to securing one appointment or another. These praise singers have always been around derailing the dream of every administration in power.”

    A worker in SSANU expressed happiness that having gone through so much under the last two administrations, workers are now being watchful so as to avoid the mistakes of the past.

    “Before, we (workers) were the ones who would say this VC is bad, and should be replaced, only to later complain that his replacement is even worse than his predecessor.

    “If you recall under Prof Akanni Hussein, (LASU sixth VC who had a running battle with workers and was eventually prevented from running a second term),   people said he was bad and vowed never to allow him complete a second time which had already been approved by the government.

    “When (Prof Oladapo) Obafunwa (Hussein’s successor) came on board, everybody was also happy that a new era had come; but in no time, trouble started again and workers said Hussein was even a better administrator.

    “Now it’s like we have learned our lessons and are now sleeping with only one eye open. This current management has been quite open; but that does not mean workesr should go to bed yet. We all need to be vigilant,” the source said.

     

     

  • What do candidates have in stock for Anambra?

    What do candidates have in stock for Anambra?

    Six days to the governorship election in Anambra State, political parties and their candidates are intensifying their strategies with legion of campaign promises. Nwanosike Onu reports.

    Six days to the Anambra State governorship election, campaign activities have been intensified by the contenders for the position.

    Although 37 candidates are in the race, the serious ones are Governor Willie Obiano of the All progressives Grand Alliance (APGA) and Dr Tony Nwoye of the All Progressive Congress (APC), Oseloka Obaze of the People’s Alliance Party (PDP), Mr Godwin Ezeemo of the Progressive People’s Alliance (PPA) and Chief Osita Chidoka of the United Progressive Party (UPP).

    The candidates have been making promises to the electorate.

    Obiano is the only candidate without new promises. He concentrates on completing the on going projects.

    Observers believe that it is the same old story, as most of the promises may not be kept, if they are voted into power.

    The speeches of various candidates are no longer moving people’s spirits as experience had opened their eyes widely.

    Money is playing an important role in the election.

    Members of the APGA believe that the pudding is in the eating, as the governor had already been tested and therefore, should be trusted by the people.

    A chieftain of the party from Awka South, Comrade Obi Ochije, said other contestants will fail, as the governor has made the people of the state proud with his leadership style.

    Others believe that he has paid his dues in governance, despite criticism by opposition, the reason according to them, political juggernaults from the (PDP) are working for his return secretly.

    Already, work is on-going now at the Anambra State Airport project at Umueri, Anambra East Council Area, while many road projects are on going in many communities.

    A retired Colonel, Chuba Ikeagwu, told The Nation that those opposing Obiano’s return do not understand the dynamics of politics, adding that any move being made to stop his comeback will be resisted   with force in the state.

    He said his vision of lighting  the major roads in the state, from Onitsha to Awka are some of his sign posts to second term.

    Obiano’s manifesto emphasises “continuity” For him, lack of continuity has the obvious tendency of stunting physical development, thereby denying the people a seamless growth.

    He has plans to develop the natural resources of the state such as crude oil, natural gas and fertile soil.

    He also plans to maximise the state’s existing strong relationship with foreign development finance institutions to raise more counter-part funding for social development projects.

    Other key priorities include the use of Private Public Partnership (PPP) to Build, Operate and Transfer models to drive development across all the sectors in the state.

    Obiano also plans to lobby Federal Government to commence full operation of the Onitsha inland port as well as secure adequate funding from the infrastructure-focused financial institutions for the large scale infrastructure needs of the state.

    Also, the PPA candidate said he had entered a social contract with the people especially the youths.

    He said: “I, Mr. Godwin Chukwunenye Ezeemo, humbly offer myself to serve as the next governor of Anambra State. I agree that I shall do the following for Ndi Anambra within the stipulated time frame when I am elected the governor of Anambra State.

    “I shall focus on Security, Health, Agriculture, Power, Education, (SHAPE). From my first day in office.

    “I shall do a needs assessment of all sectors and the 177 communities in Anambra State to find out their specific problems and design solutions  to them.

    “Within my first six months in office, I shall establish the Anambra State Entrepreneurship Development Center that will help start-up businesses, survive and also help existing businesses to expand within my first three months in office.

    “I shall reduce the cost of governance drastically by eliminating luxuries and frivolous spending. I shall buy made-in-Anambra cars and goods. I shall patronise Anambra businesses from day one. I shall set up special programmes to empower women and youth within entrepreneurship skills and opportunities, within my first six months in office.

    “I shall set up an effective agency that will protect the rights of the people and work with NGOs to ensure social justice in Anambra State.

    Ezeemo added: “I shall put an end to multiple taxation and illegal revenue collection within my first three months in office, among others.

    Chidoka of UPP said: ”My election as governor of Anambra State will start off with a single agenda; an agenda to secure a new state for the southeast region to bridge the disparity we face.

    “We will immediately, upon inauguration, in line with Section 8 (1) of the 1999 constitution, get our National Assembly members from Anambra state, our elected House of Assembly members, and local government chairmen to sign a request to the National Assembly asking for a referendum for the sixth Southeast state.

    “We will vigorously engage our friends from other states in the National Assembly and other states House of Assembly for a new state. Nigeria must take a decision on the issue of additional state for the southeast before the end of life of the 8th Assembly and the 2019 election.

    Former Secretary to Government Mr Oseloka Obaze of the PDP is optimistic that he will win.

    He said: “If elected governor of Anambra State, I hereby set out my core compact with Ndi Anambra, consisting of five basics principles predicated on globally accepted best practices of good governance.

    “Since the essence of governance is to serve the people, I have also identified fifteen core areas encompassing activities and deliverables within the main governance knobs and sectoral drivers which my government must tackle proactively, in the public interest, in the four years which I have undertaken to serve.

    “These are in tandem with United Nation Sustainable Development Goals (SDGs).

    Obaze listed his principles to include: authentic Continuity: Provide authentic continuity and consolidation of all gains developmental, financial, economic, infrastructural, educational health etc. made by successive Anambra state governments, especially the Peter Obi administration.

    Obaze also promised of stability, civility, frugality, transparency, political tolerance, and diverse views at all levels.

    Nwoye, has marshaled out what he intends to do for Ndi Anambra with his party.

    He said he would deliver good governance for the collective good of all, adding that his administration would focus on security, infrastructural development and job creation.

    Nwoye said to be the people’s choices in the races,  despite his party being not wholly accepted in the state,  said he would attract investments from local and foreign investors.

    The APC candidate who has traversed the nooks and crannies in the state is being followed by the youth, especially the students, market women, artisans, even those from other political parties are joining the train in making sure he wins.

    But, some of the party’s leaders in the state are playing hide and seek them since after his emergence as the candidate.

    If Nwoye garners the support of Senator Chris Ngige, the Minister of Labour and Employment, no candidate among the political parties can match him in the  election.

    Nwoye’s promises are not many, but he knows those things lacking in Anambra State as a grassroot man and he knows how to tackle them.

  • Superstition ends, hope rises as Imo lake gets new stock

    Superstition ends, hope rises as Imo lake gets new stock

    After flourishing for years, the Abadaba Lake in Imo State lost its rich fish yield, triggering superstition and pain. But the release of a fresh stock to the pond has ended the fantasies and pain, and offers hope to fishermen. OKODILI NDIDI writes

    For 15 years fishermen at the Abadaba Lake in Obowo Local Government Area of Imo State toiled without enough catch to earn a living. There were no more fish in the large lake.

    Consequently, the defeated fishermen sought many explanations to the disappearance of the fishes, which were hitherto their own share of the natural resources and the only means of livelihood of their forebears. Some blamed it on the provocation of the goddess of the lake by the indigenes who no longer observe her ordinances, while others blamed it on the increase in the number of fishermen on the lake.

    Only fond memories were left of how the Abadaba Lake once flourished with varieties of fishes and other aquatic animals.

    Stories were told of how big fishes often washed ashore and were picked up by lucky villagers who chanced upon them early in the morning. Those were days of bliss for fishermen. Then, the fish disappeared, and so did the fishermen as well as once thriving dealers as a result of depleting fortunes.

    But at last there is light at the end of the tunnel. Fishes have returned to the famous Abadaba Lake and in a matter of four months it will return to its old state of plenty.

    All thanks to the Federal Ministry of and Rural Development and the Senator representing Imo North Senatorial Zone, Senator Benjamin Uwajumogu, who recently stocked the lake with 500,000 high breed African juvenile fishes.

    The initiative threw the entire fishing community in the zone into frenzy. They can’t wait to throw their redundant nets on the lake and once again experience the thrill of the weight of a heavy catch.

    At the flag-off ceremony which took place at the bank of the lake, the Minister of Agriculture, Audu Ogbeh, represented by Clement Iwunze, a senior Director in the Ministry, said that the project was part of the Federal Government’s initiative to use natural resources to improve the agricultural value chain, as well as provide food and employment opportunities for the teeming youths of the country.

    He said, “The Federal government is encouraging farmers to farm in waters to upgrade the water bodies across the country. Fish farming is lucrative and can create employment and wealth for our teeming youths. So what we are doing today is to stock this Lake with high breed species of juvenile fish that will be mature in a couple of months”.

    Ogbeh however warned that, “do not fish with small net sizes. There must be restrictions to enable the fishes grow. We want to upgrade the water contents so that there will be enough food for our people to eat “.

    The Minister advocated for increased participation in agriculture to enable the nation cushion the negative effect of the dwindling oil sector, “the country should take the advantage of its population density to make exploits in the agricultural sector”.

    Senator Uwajumogu, said that the program was part of his election promises to attract relevant government Ministries and Agencies to Okigwe zone.

    Represented by his aide, Dr Uche Diala, Uwajumogu said that Lake Abadaba had the potential to provide food sufficiency for the people of the zone and that the fish stocking was one of the programs lined up towards achieving that feat.

    While commending the Ministry of agriculture for coming up with  laudable programs that are aimed at improving the welfare of Nigerians, he posited  that the zone would leverage on the Federal government program to organize an annual fishing festival to empower natives and as well, boost the tourism potentials of the zone.

    Citing the breakthrough recorded at Jabi Lake Abuja many years ago, he assured that he is working closely with the Ministry of Agriculture and experts in fish production to ensure better yield for Abadaba lake.

    He added that his vision to reposition the economy of the zone attracted the Federal Ministry of Agriculture to visit, inspect and test the lake which had been abandoned for over 15 years, noting that the lake remained the first water body in the southeast region of the country to benefit from the programme.

    Uwajumogu explained further that the idea behind the project is to replenish the stock of fish in the lake with high breed fishes that would give a better yield in record time.

    He expressed hope that the program would help to boost the economic power of the fishermen and other members of the immediate community through a bumper harvest, while also improving the nutritional needs of the members of the community and beyond.

    The Senator who is a member of the Senate Committee on Agriculture, hinted that the lake which was stocked with a high breed Cat-fish variety would be closed from fishing for the next four months to enable the new breed of juvenile introduced to mature.

    He further disclosed that at the end of the four month period, a date would be set aside within which other fishermen from across the senatorial zone would be invited to a carnival-like ceremony, with the highest catch getting N1 million prize.

    Assuring on the survival of the fishes, the Senator explained that “Abadaba Lake as a natural habitat can sustain several aquatic lives, ranging from big to small,” adding that various sea creatures in the lake naturally dwell in the ecosystem.

    He allayed fears that other sea creatures living in the lake would consume the fishes, arguing that while some of the fishes may be preyed upon, “hopes are high that the male and female fishes would reproduce greatly and subsequently populate the lake for years to come”.

    Senator Uwajumogu, enumerated the significance of the program to include attraction of tourism potentials to the area as envisioned by Dee Sam Mbakwe, while calling on the Federal Ministry of Agriculture to do more in establishing mini fish earth ponds and fish hatcheries around the lake to further drive agro revolution in the area.

    The traditional ruler of Okwuohia community, Eze Chukwuemeka Uwajimogu, while commending the FG for the initiative, assured that the communities will work together to ensure the safety of the fishes.

  • An institutional laughing stock

    SIR: The description by the Senior Special Assistant to the President on National Assembly (NASS), of the Senate President’s imputation of document-switching as laughable is not lost on well meaning Nigerians.

    There is little evidence the Senate President had exploited all available options known in investigative trouble-shooting before going to the public to make such scandalous imputation.

    The fact that Senator Bukola Saraki failed to articulate the difference in the two documents renders his hasty conclusion superfluous.

    Surprisingly this is following the same narratives with the NASS faux pass on the Treasury Single Account allegedly to have been compromised by REMITA

    It is high time NASS stopped politicizing every constitutional undertaking bestowed upon it.

    Nigerians are nonplussed by its attempt to trivialise an age long ritual that has outlived even the National Assembly.

     

    • Bukola Ajisola,

    Victoria Island, Lagos.

  • More French companies may list on Stock Exchange

    More French companies may list on Stock Exchange

    Nigeria will soon have more leading French companies investing in its economy and actively involved in the stock market as French business group Mouvement des entreprises de France International (MEDEF) prospects for new investments in Nigeria.

    Chairman, MEDEF, Mr. Pierre Gattaz, who made his first visit to Africa to Nigeria last week, led a group of some 50 French businessmen for familiarisation with the economy and preliminary discussions on prospective business areas and partners.

    Gattaz, during a visit to the Nigerian Stock Exchange (NSE), said many French companies would soon toe the line of Total Nigeria and Lafarge Africa Plc, two French companies that are quoted on the NSE.

    “This is our first visit and we know all these 50 business personalities who are with me are very motivated. They are very happy with what they have seen in this country. So, I think there will be more Totals and Lafarges coming in,” Gattaz said.

    He noted that French companies would be interested in bringing their capital and expertise in helping Nigeria to solve its infrastructure and basic amenities challenges. The areas of investments would include infrastructure, water, agriculture, energy, jobs, knowledge and training.

    “All those things can be brought by most of the French companies. So, this visit is the first of a long-lasting partnership with your country. There are a lot of things to be done between the two countries. That is why we are and we are very much ready to see the development of Nigeria; to see the growth of the population, and the growth of Gross Domestic Products (GDP),” Gattaz said.

    While acknowledging that the completion of the investment process may take some time, he assured that French businessmen have positive impressions about the Nigerian people and the economy.

    Both Total Nigeria and Lafarge Africa Plc have been making additional investments to strengthen their Nigerian operations in recent years. Total Nigeria plans to step up its business diversification programme by investing further in solar power business while consolidating the safety and efficiency of the current business.

    Chairman, Total Nigeria Plc, Momar Nguer, said the company is  seeking new ways to expand its offerings and the company is implementing strategies to ensure that the company remains brand of reference and leading energy solutions provider.

    “We plan to increase the number of our solar powered stations this year by eight additional stations and will be introducing our offer of solar home system. The solar home system is a solar power driven energy solution for homes,” Nguer had told shareholders in June, this year.

    He said the company would be seeking to align its business and structures with the dictates of the environment in which it operates and through all these, create sustainable value for all the shareholders.

    Lafarge Africa this month completed the acquisition of 30 per cent equity stake in United Cement Company of Nigeria (Unicem) Limited from Flour Mills of Nigeria Plc. Nigerian Cement Holdings BV (NCH), a 50 per cent affiliate of Large Africa, completed the acquisition of the second tranche of 15 per cent in Unicem, making the company a wholly-owned subsidiary of NCH. NCH had in March, this year acquired the first tranche of 15 per cent stake in Unicem from Flour Mills of Nigeria.

    With this final acquisition, NCH now owns 100 per cent of Unicem and consequently Lafarge Africa now owns 50 per cent of the equity of Unicem.

    Lafarge Africa plans to use Unicem to further deepen its geographical strength in the Southsouth axis. Unicem’s operational office is located in Calabar and its manufacturing plant is in Mfamosing, Cross Rivers State. It has a cement production capacity of 2.5 million metric tonnes per annum (Mtpa) and it is developing a second production line of 2.5Mtpa. The second production line is targeted to be commissioned in 2016 to bring Unicem’s total production capacity to 5.0Mtpa.

     

    The board of Lafarge Africa had rationalized the acquisition as part of the cement group’s continued investment in Nigeria to accelerate the growth and development of its business, with a focus on serving its customers and delivering value through provision of innovative products and services with a strong geographical spread.

    Lafarge had in July 2014 consolidated its cement businesses in Nigeria and South African to create a leading sub-Saharan building materials giant to be known as Lafarge Africa Plc. The consolidation was done by transferring Lafarge’s assets in South Africa and Nigeria to Lafarge Cement Wapco Nigeria Plc, which was subsequently rebranded as Lafarge Africa.

    Under the transaction, Lafarge Group transferred its direct and indirect shareholdings in Lafarge South Africa Holding Limited of 72.4 per cent and its equity stakes in three other cement companies in Nigeria-United Cement Company of Nigeria Limited, 35 per cent; Ashaka Cement Plc, 58.61 per cent and Atlas Cement Company Limited, 100 per cent to Lafarge Wapco for a cash consideration of $200 million and the issuance of some 1.4 billion Lafarge Africa shares to the Lafarge Group.

    The new group managing director, Lafarge Africa, Mr. Peter Hoddinott, who resumed in July 2015, wears two caps as group managing director of Lafarge Africa and area manager for the LafargeHolcim business in the West African region. His main mandate included acceleration of the global cement group’s expansion plan in Nigeria and the West African region.

    Hoddinott’s appointment was said to be in furtherance of Lafarge’s long-term agenda for Nigeria as the focal point of its business within the region and the continent. The new group managing director is expected to deepen the existing businesses of the Lafarge Africa, introduce new businesses and drive the group’s capital investments.

    After it successfully combined its operations in South Africa and Nigeria to create Lafarge Africa, Lafarge had revealed plan to double its production capacity in Nigeria as part of a new expansion programme that would see additional investments by the foreign majority shareholders in its Nigerian subsidiaries.

    Lafarge, which had increased its capacity from 3.0 million metric tonnes to 8.0 million metric tonnes, said it would be making new investments in the next few years to double its capacity and strengthen its position as a leader in the Nigerian cement industry.