NSE Market Capitalisation Hits N20tn on Sustained Rally Investors' rising demand pushes bourse to historic peak Goddy Egene The market capitalisation of the Nigerian Stock Nigerian (NSE), which is the total value of all listed equities,
hit a historic peak of N20.281 trillion yesterday, as investors increased demand for stocks to reposition for year-end seasonal trends and the much expected economic recovery
in 2021. This is the highest the market would record since 2008 when it peaked at N12.3 trillion before the meltdown. That meltdown brought
the market value to about N6 trillion before it started recovery in later years. However, the listing of Dangote Cement Plc in 2010 significantly lifted the market.
The listing of MTN Nigeria Plc, Airtel Africa Plc last year and BUA Cement Plc early this year added more boost to capitalisation of the exchange, which set the pace
for yesterday's historic peak. The market, which gained N1.334 trillion last week, consolidated on the positive Continued on page 10
Manufacturers Groan as 500,000 Containers are Trapped at Lagos Port... Page 6 Thursday 24 December, 2020 Vol 25. No 9390. Price: N250
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COVID Christmas Looms as States Roll Out Restrictions FCT shuts night clubs, pubs, others for five weeks Nigerians to get vaccine free, says PTF coordinator UK imposes flight restrictions on South Africa over new virus variant W'African nations mull UK flight ban
Olawale Ajimotokan in Abuja, Victor Ogunje in Ado Ekiti, Hammed Shittu in Ilorin and Kayode Fasua in Abeokuta Nigerians are in for a lowkey Christmas celebration tomorrow as states yesterday rolled out measures to tackle the resurgence of COVID-19. Some of the measures such
as restrictions on religious gathering, social activities and suspension of street carnivals that usually characterise the celebration pre-COVID era, will take the shine off this year's event. The Federal Capital Territory (FCT) has also ordered the closure of night clubs, pubs Continued on page 10
Ngige: FG, ASUU Reached Understanding on Regaining Lost Ground Union ends strike, commits to virtual teaching, doing extra work Onyebuchi Ezigbo in Abuja Minister of Labour and Employment, Senator Chris Ngige, yesterday gave insight into the deal between the federal government and the Academic Staff Union of Universities (ASUU) that led the union to suspend its nine-month industrial action.
Ngige told THISDAY that part of the agreement between the two parties during the final round of negotiations on Tuesday that preceded the suspension of the strike yesterday, was that the lecturers will conduct virtual teaching and restart academic activities Continued on page 40
DISCUSSING STATE AFFAIRS... L-R: Minister of Transport, Mr. Rotimi Amaechi; Minister of Water Resources, Alhaji Suleiman Adamu and Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, at the Federal Executive Council meeting in Abuja... yesterday godwin omoigui
Presidency Alleges Smear Campaign Plot against Buhari... Page 5