FG Should Cater For “Hunger-displaced People”, Same As IDPs -Soyinka

MICHAEL AKINOLA

Prof. Soyinka slammed the gong at the NSE

Nobel Laureate, Prof. Wole Soyinka, has called on the federal government not to only cater for the Internally-displaced persons alone but millions of “hunger-displaced” Nigerians.

Soyinka made the call on Friday in Lagos after he sound the Year End Trade Closing Gong at the Nigeria Stock Exchange.

The Nobel Laureate, who said the economy is in trouble, disclosed that more Nigerians need government’s palliative measures as the economy bites harder.

“Instead of thinking only of internally displaced people, we can now really think of hunger-displaced people and cater for them the same way as we are catering for internally displaced people.

“Because I have seen enough and I have interacted enough with people to know that there is serious problem,” Soyinka said.

He, however, charged different institutions including churches, mosques and colleges to provide feeding and relief materials for the people.

Meanwhile, Nigeria’s stock market recorded a year-to-date return of -6.14 percent for the 2016 financial year, even though the market recorded a strong finish in the final trading sessions of the year.

According to market statistics, the overall value of the market represented by the market capitalization, shrunk by N605 billion from N9.851 trillion it closed the year 2015 with, to N9.246 trillion as the closing figure for 2016.

However, benchmark indices of the stock market sustained upward trend from previous trading sessions to close trading activities for the year on Friday, 0.34 percent higher.

The All Share Index (ASI) added 91.69 points to close at 26,874.62 points compared to 94.68 points added on Thursday when the ASI closed 26,782.93 points, while market capitalization grew N31.5 billion to close at N9.246 trillion in comparison with N32.6 billion added on Thursday when it closed at N9.215 trillion.

Market breadth remained positive with 23 gainers against 16 losers. Law Union led the gainers with 8.11 percent to close at 80 kobo per share, Wema Bank followed with a growth of 8 percent to close at 54 kobo per share, while NEM Insurance added 5 percent to close at N1.05 per share. UAC-Prop added 4.80 percent to close at N2.62 per share while Omoluabi Savings Microfinance Bank appreciated 4.76 percent to close at 88 kobo per share.

On the flip side, Forte Oil recorded a 9.74 percent decline to lead the losers chart having closed at N84.43 per share, Portland Paints dropped 9.09 percent to close at N1.80 per share, Sterling Bank fell 6.17 percent to close at 76 kobo per share, while Cadbury depreciated 4.99 percent to close at N10.29 per share and Beta Glass lost  4.74 percent to close at N30.32 per share.

The day’s transactions executed in 1,714 deals, showed investors moved 156.8 million units of shares, worth N1.6 billion.

Top three traded stocks in the course of the day were Omoluabi Savings with 50.5 million units of shares valued at N44.4 million. Guaranty Trust Bank followed with 33.9 million shares worth N838.3 million while Access Bank traded 8.8 million shares worth N50.9 million.

Soyinka was at the event in the company of his son Makin Soyinka, Dotun Ransome-Kuti, and Gboyega Ransome-Kuti.