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•Investors task govt on incentives to enhance industry growth
The nearly one-year devastating effect of the COVID-19 crisis has continued to take huge toll on the hospitality sector, as the bottom-line of listed firms in the sector has remained vulnerable to the challenges of restrictions.
The most hit is the share price of these companies on the Nigerian Stock Exchange (NSE), which has remained stagnated at nominal value year to date following negative sentiments that have enveloped the demand of the stocks.
Apparently irked by the unprecedented loss incurred by the firms in the sector, especially in the current financial year, stock market investors at the weekend, stressed the need for government to support listed firms under the sector with incentives in form of tax holiday and other palliatives throughout the period of the pandemic.
By Lucy Osuizigbo-Okechukwu
Awka, Jan. 11, 2021 Mr Valentine Ozigbo, a Peoples Democratic Party (PDP) governorship aspirant in Anambra State, says respecting existing agreement of zoning the governorship election to Anambra South is not abandoning merit.
Ozigbo, who is the President and Chief Executive Officer, Transnational Corporation of Nigeria Plc, told the News Agency of Nigeria (NAN) on Monday at Ukpor-Nnewi, that the South zone had eminently qualified politicians who could be good governors.
According to him, there are capable people in the South zone who can govern Anambra well.
He said: ” There is the need to respect pre-existing contract of zoning, which is – the next governor of Anambra state in the forthcoming gubernatorial election shall emerge from the Anambra South.
By Goddy Egene
The Nigerian equities market shed N78.7 billion in the first week of 2021 as a result of losses suffered by bellwether stocks due to profit-taking by investors.
Having closed 2020 after a stellar run performance that pushed annual return to the highest in at least a decade, some level of profit taking was expected in the new year.
Consequently, market capitalisation shed N78.7 billion to close at N20.978 trillion, while the Nigerian Stock Exchange (NSE) All-Share Index (ASI) depreciate by 0.37 per cent to close at 40,120.22.
Despite the decline last week, analysts said sentiments still favour the equities market as investors await dividend declaration for the year ended December 2020.