NSE

Investors on the Nigerian Stock Exchange (NSE) on Friday traded 174.68 million shares valued at N2.01 billion in 3,695 deals.

This was in contrast with a turnover of 171.21 million shares worth N2.21 billion exchanged in 3315 deals on Thursday.

A breakdown of the activity chart indicates that Mutual Benefits Insurance was the toast of investors, accounting for 26.59 million shares valued at N5.58 million.

It was trailed by Zenith Bank with 12.66 million shares worth N205.71 million, while Guaranty Trust Bank traded 12.12 million shares valued at N279.81 million.

United Bank for Africa sold 11.27 million shares worth N72.13 million, while FBN Holdings traded 9.87 million shares N52.13 million.

The All-Share Index which opened at 24,933.41 lost 106.66 points or 0.43 per cent to close at 24,826.75.

Also, the market capitalisation of listed equities dipped N55 billion to close lower at N12.951 trillion from N13.006 trillion reported on Thursday.

An analysis of the price movement table indicates that Dangote Cement recorded the highest loss to lead the decliners chart, dropping by N9 to close at N130, per share.

Okomu Oil trailed with N3 to close at N64, while Guinness was down by 50k to close at N17 per share.

UACN dipped 20k to close at N7, while Dangote Sugar also lost 20k to close at N14.30 per share.

Conversely, BUA Cement led the gainers table, gaining N2.60 to close at N44 per share.

Total came second with a gain of N1.40 to close at N97.50, while MTN Nigeria Communications garnered 60k to close at N116.10 per share.

Lafarge Wapco added 20k to close at N11.20, while FBN Holdings also gained 20k to close at N5.30 per share.

Source: NAN News

Dr Chris Ngige, Minister of Labour and Employment

By Ismaila Chafe

The Federal Government has released the sum of N4.5 billion to 31 Federal Teaching Hospitals and Medical Centres across the country.

The government also earmarked N9billion for payment of insurance claims.

Labour and Employment Minister, Dr Chris Ngige, announced this when he alongside Health Minister, Dr Osagie Ehanire, briefed State House correspondents at the end of a closed door meeting with President Muhammadu Buhari.

The meeting took place at the Presidential Villa, Abuja.

Ngige disclosed that the N4.5billion covered payment of hazard and inducement allowances for the months of April and May while fresh payment for June would soon be effected.

He explained that the payment was in fulfillment of part of the demands of the National Association of Resident Doctors of Nigeria (NARD), who are currently on nationwide industrial action.

The minister, therefore, expressed optimism that the strike action embarked upon by the NARD would be called off as the federal government had met parts of their demands, substantially.

Just this morning, before we went to see Mr President, the Ministry of Finance reported that as at this morning, 3:00 a.m, it has paid the allowances for hazard and inducement to 31 Teaching Hospitals, Federal Medical Centres and Specialist Hospitals of the federal government service.

They have expended close to N4.5 billion in the payment because, we are paying them the arrears of April and May. The payment for June will also be done immediately these ones are sorted out.

Again, its important to report to you that in consonance with what hes (Osagie Ehanire) saying, we have arranged a meeting for them to speak to the Nigerian Governors Forum because you dont mix apples and oranges.

The issue of health is on the concurrent list, so the federal government will do its own and the state governments will be expected to do their own.

Some of their grievances border on what they feel the state governments have not done.
Ngige further disclosed that the federal government had earmarked N9 billion for immediate payment as Group Life Insurance to workers including health and medical personnel who lost their lives as a result of the COVID-19 pandemic.

Also there was evidence that the insurance premium had been paid.

In fact N9billion has been spent by the federal government to pay for insurance not only for health workers this time but every worker in the public service of the federation.

This is to enable any other health worker who loses his live as a result of the COVID-19 to benefit from the insurance scheme as the family can make claims from the Group Life Insurance as enshrined in the Pension Acts.

So, this is the situation and as of now we are still in dialogue with them; we are still talking to them, he said

In his contribution, Ehanire expressed the hope that the doctors would call off the strike as federal government was doing all it could to restore sanity in the nations health sector.

He said: We hope that there is a solution in sight; what we have done is to brief the President of the country, who as we all know has the final responsibility for everything that goes on in government.

Those of us who are ministers administer our ministries and have to report to him periodically.

In this particular case, it has been important to report to him how things have been because of the strike action of resident doctors.

We have to report to him the implications and the possible consequences of such a strike action.

He listened to us carefully, of course he is not happy that it has come this way and we all hope that it would be resolved after all the demands that were made have been resolved.

The Minister of Labour and Employment has listed those demands and how all of them have been fulfilled except those of them which are not within our ambit.

Source: NAN News

Prof. Olatunji Kolawole of the Department of Microbiology, University of Ilorin, has warned traditional medical practitioners to stop the use of scarification marks as a method in disease treatment.

Kolawole gave the warning in his research paper entitled: Transcending the viral world: A tale of mimicry, knockdown and knockout.

Scarification in Nigeria is for identification and medication and it involves a long and painful process, where the skin is cut or pierced with a sharp object or hot instrument, leaving scars on the affected area.

Scarification tradition still persists in the country until date. It is used in traditional healing for children who suffer strange illnesses at infancy, marked with these ritual incisions to cure them from the ailment and ward off future attacks.

Kolawole, while speaking on prevalence of Hepatitis C (HCV) in the country, especially among mothers and pre-school age children, said that study have shown a correlation between scarification and HCV prevalence.

He stated that scarification was also shown to be a major risk factor associated with Hepatitis B, with greater health challenges.

Nigeria is in the region with high prevalence of HBV and HCV. There are many unvaccinated women in childbearing age who are at risk of these infections.

It is important to note that infection by HBV and HCV early in life underscores the potential of adding to the burden of viral Hepatitis and its attending complication of hepatocellular carcinoma later in life, he said.

Kolawole described HBC as Ban infection caused by a virus that attacks the liver and leads to inflammation.

He added that the virus is spread by contact with contaminated blood, such as sharing needles or from unsterile tattoo or scarification equipment.

Source: NAN News

By Cecilia Ijuo

Nigeria Fish Farmers Association (NFAN) says it supports the re-election of Dr Akinwumi Adesina as President of the African Development Bank (AfDB) because of his numerous achievements.

The National Publicity Secretary of the association, Mr Chidike Uko, made this known in an interview with the News Agency of Nigeria (NAN) in Abuja on Friday.

Uko said Adesina had been tested and trusted.

He said it was in view of that, that NFAN recently joined other commodity associations to support his re-election.

Uko said Adesina was able to revolutionise agriculture in Nigeria with the agricultural transformation agenda, particularly e-wallet system.

According to him, Adesina was able to attract youths, including graduates into agriculture, a move which has led to a paradigm shift in the way youths viewed agriculture.

He noted that having contested for the presidency of the AfDB and won in 2015, Adesina had shown that he is capable of carrying out his function for a second term.

But right now, there is an interference to see that his going back will be tough.

Not that he will not go back, he will but it will be tough because of scrutiny.

But having been cleared by the ethics committee, we see no reason why the matter should linger because he is someone, who does his work in the open.

He is a Nigerian son and an international citizen, whom everybody who knows his worth, even from the U.S., will know that he is a policy driver for everything he has to do, he said.

Uko further noted that Adesina had equally shown concern for the repositioning of the fish subsector.

Today in Nigeria we are having almost half of our fish demand imported.

With the policy that he introduced on agricultural mechanisation, we are witnessing enhanced fish production and processing.

Even with our inability to satisfy local demand for fish; we are still having fish gloat and post-harvest losses.

So, what the processing zone he created, we are sure that that the fish harvested can be processed and saved so that the life shelf of fish can be nine months.

Therefore, we will not suffer any post-harvest losses again.

There will not be fish gloat in Nigeria and we will be adding value to the economy of the country and reducing the import bill.

The publicity secretary further said that if Adesina could be doing this at the African level, the continents economy would come out bigger, better and begin to contest with the Asian tigers and the rest of them.

But the most important thing is that if you are playing in the international community you must lobby, you must work hard to position yourself.

The interests that are coming to ask him not to move forward at this time are not out of point but we need to know, as Africans, what is good for us, he added.

NAN reports that NFAN recently joined over 52 commodity associations, under the auspices of Federation of Agricultural Commodities Association of Nigeria (FACAN), to endorse the re-election of Adesina as President of AfDB.

Source: NAN News

By Mohammed Tijjani

The Nigerian Air Force (NAF) says it will activate its Institute of Administrative Management to address deficiencies in manpower development and career projection of personnel.

The Chief of Air Staff, Air Marshal Sadiq Abubakar made the disclosure during the graduation of 86 personnel of sundry courses at the Military Training Centre (MTC), NAF Base Kaduna, on Friday.

The News Agency of Nigeria (NAN) reports that the Air Chief, who was represented by Chief of Administration, NAF Headquarters, AVM Muhammad Idris, added that the reactivation of the institute would ensure efficient service delivery.

NAN also report that the 86 NAF personnel completed various administrative, clerical, physical education and airmen courses, which lasted six months.

He urged the personnel to work hard and remain committed to the Nigerian Air Force.

Abubakar emphasised his determination to bequeath a highly professional and disciplined force through capacity building for effective, efficient and timely employment of air power in response to Nigerias national security imperatives.

You would all agree with me that a lot has been done over the past four and half years to address the challenges of the Nigerian Air Force in the aspect of capacity building.

The NAF embarked on restructuring efforts as well as the training of aircrew and non-aircrew personnel across all specialties and trades both in Nigeria and abroad.

While these trainings are ongoing, frantic efforts were made to ensure that aircrafts were regularly available to boost NAF operations by promptly providing aircraft spares.

This administration equally embarked on infrastructural development through the execution of over 900 projects which include the upgrade and provision of additional housing, schools, hospitals, operational and recreational facilities.

These efforts have led to the accommodation of
over 7,500 families.

All these efforts are aimed at enhancing the welfare of personnel thereby improving the operational output of the NAF.

Abubakar told the graduands that NAF expects them to always remain highly proficient while discharging their duties.

He also reminded them that discipline remained the bedrock of any fighting force, without which, there can be no cohesion and team work.

The Air Chief admonished all NAF personnel to support the Governments efforts in containing the spread of COVID-19 by adhering to the various guidelines issued in response to the pandemic.

He disclosed that NAF had approved the mass production of pamphlets on various Tips for Physical Fitness exercises to keep fit during the pandemic.

Abubakar, therefore, urged the personnel to avoid unnecessary gatherings, wear face mask, observe physical distancing and shun unnecessary interstate movements.

Earlier, the Commandant of MTC, Air Cmdr Aliyu Bello, said the the basic courses were on non-technical ground specialties for officers, airmen and airwomen, to imbibe them with skills and requisite knowledge to perform efficiently in their assigned responsibilities.

Bello assured that the Centre would continue to provide quality training to personnel in order to meet NAFs aspirations.

He stressed that the Centre has zero tolerance for poor academic performance and indiscipline.

Source: NAN News

By Abujah Racheal
Nigeria has recorded 745 new cases of COVID-19, bringing the total number of infections in the country to 18,480.

The Nigeria Centre for Disease Control (NCDC) announced this on Thursday through its official Twitter handle.

NCDC said that the 745 new confirmed cases were from 21 states, with six deaths as at June 18.

The health agency said that no new state reported a case in the last 24 hours.

The NCDC said that Lagos reported the highest number of cases with 280 new cases and Oyo was second with 103 new infections.

Amongst others were Ebonyi(72), FCT(60), Imo(46), Edo(34), Delta(33), Rivers(25), Kaduna(23), Ondo(16), Katsina(12), Kano(10), Bauchi(8), Borno(7), Kwara(5), Gombe(4), Sokoto(2), Enugu(2), Yobe(1), Osun(1) and Nasarawa(1).

The NCDC said that till date, 18,480 cases have been confirmed; 11,698 active cases; 6,307 cases treated and discharged; 106,006 samples collected and 475 deaths recorded in 35 states and the Federal Capital Territory.

The NCDC said a sudden loss of taste and smell with fever, headache or runny nose might be COVID-19.

It called on Nigerians not to ignore these symptoms, adding that they should call their state hotline immediately to arrange for a test.

The health agency said every treatment regiment to be used in Nigerias response to COVID-19 must be supported by science.

NCDC said that Nigerians should avoid sharing items at their place of worship including books, mats, microphones and kettles.

It, however, advised Nigerians to worship at home and avoid mass gatherings to reduce risk of exposure to COVID-19.

Source: NAN News

COVID-19

By Abujah Racheal
Mr Olusegun Adekunle, Permanent Secretary, Office of Secretary to Government of the Federation (OSGF), has urged Nigerians not to discriminate against persons diagnosed with COVID-19.

Adekunle, who co-ordinates the activities of the Presidential Task Force (PTF), on COVID-19, made the call in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.

He said that any form of discrimination would further leave scars of mental trauma on those infected.

It is worse for those with existing mental illness. Let us support them by reducing stigma about them, he advised.

The Permanent Secretary in the General Services Office, said that the fear and the stigma associated with COVID-19 could contribute to the spread of the disease.

It can also drive people to hide the illness to avoid discrimination. This can lead the person to not seek any medical help.

Our choice of words matter and we should be encouraged to use inclusive language and less stigmatising terminologies.

Phrases such as people who have COVID-19 or people who are being treated for COVID-19 instead of victims.

Let us be positive and encouraging with our words, and we should avoid the use of negative words or messages.

Stopping stigma is immensely important to making communities and community members resilient, he said.

The permanent secretary stated that stigma robbed individuals of opportunities that define quality life ranging from satisfactory health care to affiliation with a diverse group of people.

He added that it could also hurt those who are trying to battle their challenge.

Stigma hurts those who lost loved ones due to the condition or are trying to support their loved ones as they cope with the condition, he said.

He noted that the PTF team would continue to support risk communication activities in form of campaigns, radio programmes and community engagement across the country.

He called on Nigerians to support the front line workers, because they are exposed to risk of infection, long working hours, psychological distress, fatigue, occupational burnout and stigma.

Lets support our front-line people and keep them safe from this virus by taking precautions made available by the Nigeria Center for Disease Control (NCDC), he urged.

Adekunle stressed that to limit COVID-19 spread and resume activity more safely again; Nigerians should wear masks when within six feet of others.

He said that mask-wearing could help prevent a resurgence of the virus with less reliance on lockdowns that have proven economically devastating.

Remember, viruses dont discriminate, but people do. Together we can stand against COVID-19 stigma by minding our language. Talk about it, but dont gossip and lets counter misinformation, he said.

He, however, said that as far as COVID-19 goes, it had proven to overwhelm the healthcare systems of countries that were hard hit.

In China, additional hospitals had to be built in a matter of days to handle the impact because they did not have enough beds.

Equipment shortages are almost certain since those hospitalised with the virus often need ventilators because they cannot breathe on their own.

There are only so many ventilators and when too many people need them, it forces doctors to decide who gets them and who doesnt, he added.

Adekunle implored Nigerians to continue wearing face masks because COVID-19 could be spread by asymptomatic people even when they were not showing symptoms.

The virus is still very contagious, he said.

Source: NAN News

NITDA

By Ijeoma Olorunfemi
The National Information Technology Development Agency (NITDA), through its IT project clearance mandate, had assessed and cleared 62 IT related projects worth N1,168,145,213,150 from January to May.

The Director-General of NITDA, Mr Kashifu Inuwa, disclosed this in a virtual meeting monitored in Abuja, organised by the agencys subsidiary, Office for Nigerian Content (ONC) development.

Inuwa, represented by Dr Usman Gambo, Director, IT Infrastructure Solutions, said clearing of the projects was a prove that President Muhammadu Buharis administration was committed to digitalise government services, as most of the projects were service based.

The meeting which focused on Harnessing Indigenous Solutions for Public Sector Innovation and Digital Development, was targeted at assessing the nations digital experience.

The assessment shows that about N64,878,725,488 was generated from software products and software enabled projects.

This has shown that more can be achieved with a deeper collaboration between the public and private sector going forward using technology as a driver for public services.

For successful development and delivery of government digital services, it is significantly important that innovative Nigerian companies are engaged very early in the project from the conceptualisation and design stages, he said.

He added that the effect of the pandemic on the economy, governance and public service delivery has spurred a greater urgency for the development of government digital services and digital economy for the country.

Inuwa further said that NITDA would soon issue frameworks for the development of government digital services, public-private sector partnership in its products.

According to him, there is an urgent need for government to accelerate the delivery of government digital services for the benefit of Nigerians.

The director-general said that collaborations would deepen the opportunity for learning and create domesticated solutions for societal problems.

The National Coordinator of ONC, Mr Kassim Sodangi, in his remarks said the key objective for clearing IT projects was to ensure consolidation of Federal Governments adopted solutions.

We want to encourage solutions beyond issuing procurement notices, adverts, while Ministries, Departments and Agencies will be able to sit down with indigenous content providers to discuss and come up with a plan or strategy to drive the development of the solution, he said.

Sodangi added that indigenous content development and adaptation was the pillar of ONC which focused on building local capacity, adopted and deployed as central plan for the development of digital economy.

The coordinator also said that they would assess the Public Procurement Act, explore and examine the Presidential Executive Order 003 and 005 as it affects planning, execution of projects and promotion of Nigerian content in contracts, science, engineering and technology.

These documents will form the fulcrum for discussing on what can happen and what are the opportunities in the bylaw and policy that will drive the development of co-creation and co-planning of projects.

He urged MDAs to synergise and explore the frameworks, policy and laws available which could be incorporated in designing programmes and solutions addressing our local problems.

Source: NAN News

Polio

By Cecilia Ologunagba
The World Health Organisation (WHO) has declared Nigeria free of wild polio, following the completion of documentation for the free status.

The UN health agency disclosed this on its regional office for Africa in Brazzaville, Congo, official twitter account @WHOAFRO.

Today, Nigerias complete documentation for Wild Polio virus free status was accepted by the Africa Regional Certification Commission for polio eradication (ARCC).

It is a historic day for Nigeria, Africa and the Global Polio Programme, WHO said.

Meanwhile, Dr Faisal Shuaib, Executive Director and CEO of the National Primary Health Care Development Agency (NPHCDA), in a tweet at @drfaisalshuaib described the documentation as historical.

Amazing moment in history to have had our polio-eradication documentation accepted by ARCC; the Nigeria team led by NPHCDA and partners demonstrated evidence of our polio-free status.

Nigeria achieving a Wild Polio Virus-free status today, is significant on multiple fronts.

I look back at the incredible leadership that has brought us here.

Apart from President Muhammadu Buhari, GCFR, the two most important people who have made it possible due to their financial and technological contributions have been Mr Aliko Dangote and Mr Bill Gates.

Thanks for this unquantifiable gift to Nigeria, he said.

Source: NAN News

Mohammed Barkindo OPEC SEC Gen.

Oil prices rose more than one per cent on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well.

Brent crude LCOc1 futures rose 61 cents, or 1.5 per cent, to .12 a barrel by 0639 GMT, the highest in more than a week.

U.S. West Texas Intermediate (WTI) crude CLc1 futures climbed 60 cents, or 1.5 per cent, to .44 a barrel.

Both contracts rose about two per cent on Thursday and are heading for weekly gains of nearly nine per cent.

Plans by Iraq and Kazakhstan to make up for overproduction in May on their supply cut commitments supported the market.

The promises came out of a meeting by a panel monitoring compliance by the Organisation of the Petroleum Exporting Countries and its allies, a grouping called OPEC .

Prices are showing solidity at these levels, as oil markets ignore the concerns rolling across other asset classes at the moment, said Jeffrey Halley, senior market analyst at OANDA.

That suggests that prices are supported by physical buyers (which) is welcome as it implies that physical demand across the globe is recovering, with its implications for economic growth, he added.

Brent moved into backwardation on Thursday for the first time since early March, with the August contract rising to 9 cents above September LCOc1-LCOc2 on Friday.

Backwardation occurs when near-term contracts are trading at higher prices than outer months, compared with a contango market structure where outer months trade at higher prices.

Fears about dwindling storage capacity had sent the market into steep contango, as wide as , as coronavirus lockdowns hit near-term demand and Saudi Arabia and Russia glutted the market with crude in April.

Comments from global oil traders Vitol and Trafigura on a rebound in oil demand in June, reported by Bloomberg, also buoyed the market, ANZ said.

Traders shrugged off another build in U.S. crude inventories to a new record.

Crude stocks USOILC=ECI rose by 1.2 million barrels last week to 539.3 million barrels, compared with expectations from a Reuters poll for a decline of 152,000 barrels.

On the technical side, CMC Markets chief strategist Michael McCarthy pointed to strong resistance in the WTI contract between and .

Analysts see that level as the point at which more U.S. producers will revive shut-in wells. (Reuters/NAN)

Source: NAN News