Closing 2024 at 160.01%, Oil & Gas Leads Others as Best Performing Stocks on Nigerian Exchange Kayode Tokede
As the Nigerian stock market closed the 2024 financial year with a gain of 37.65 per cent on investors’ return, the stocks of the oil and gas sector emerged
as the best-performing index on the Exchange, an analysis of the market performance for the year under review has revealed. The companies in the oil and gas sector recorded significant growth in stock prices amid the
federal government’s reforms in recent years to stimulate growth, increase transparency, and attract investment in the oil and gas sector. These reforms were aimed at enhancing operational efficiencies,
increasing local participation, and encouraging a shift toward cleaner energy practices. The enactment of the Petroleum Industry Act (PIA), deregulation of the downstream sector, gas infrastructure development and
promotion, and ease of doing business initiatives, among others, were some of the reforms. Some of the companies in the NGX Oil & Gas Index are: Seplat Energy Plc, Conoil Plc, Eterna Plc, Totalenergies Marketing
Nigeria Plc, and Japaul Gold & Ventures Plc. Amid these reforms, the stock price of Seplat Energy closed in 2024 at N5,700 per share, gaining Continued on page 5
Jega: American, Chinese Investors Interested in Nigeria’s Livestock Sector… Page 6 Sunday, January 12, 2025 Vol 29. No 1071
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Shake-up in Army with Appointments of GOCs, PSOs Linus Aleke in Abuja
L-R: Father of the groom, Mr. Dan D. Kunle; Mr. Adebayo Kunle; Olamilade Kunle; President, Dangote Group, Alhaji Aliko Dangote; Couple, Adedayo Kunle and Rhoda Kunle, during the wedding ceremony of Adedayo and his wife, Rhoda, at Oregun, Ikeja, Lagos...yesterday. KOLAWOLE ALLI
The Chief of Army Staff (COAS), Lt. General Olufemi Oluyede, has appointed new General Officers Commanding (GOCs), new Principal Staff Officers (PSOs), new Corps Commanders, and a new Commander Continued on page 5
Emir Sanusi Sues for Peace, Says Fire Will Consume Whoever Seeks to Ignite Chaos in Kano State govt hails Appeal Court judgment on emirate tussle Urges individuals, public institutions to comply
Ahmad Sorondinki in Kano The Emir of Kano, Muhammadu Sanusi II, has appealed to the residents of the city to maintain calm and resist any temptation that could provoke unrest in the ancient city, saying that those who want to ignite chaos will be consumed by fire. This is just as the state government hailed the Court of Appeal judgment on the emirate council dispute involving the dethroned 15th Emir of Kano, Aminu Bayero, and the reinstated 16th Emir, Sanusi II. Reacting to Friday’s verdict of the Court of Appeal, which ruled in his favour, Emir Sanusi II said some people were hell-bent on instigating
unrest in the state. The monarch said: “As you all know, the Appeal Court has confirmed today that the Federal High Court has no jurisdiction over emirate issues. This judgment was expected, and those who initiated the case in court knew this all along. “Even the judge who issued the initial order was aware of the limits of his jurisdiction. Those who influenced him to make that decision also knew the truth. “However, for the past eight months, their aim has been to promote selfish interests and instigate unrest in this part of the country. “Despite their efforts, our greatest Continued on page 5
SETTING POLITICS ASIDE…
Former United States President, Mr. Barack Obama (left), and President-elect, Mr. Donald Trump, having a discussion at the funeral service for former President Jimmy Carter at the Washington National Cathedral…Thursday.